Global Construction Paints and Coatings Market 2016-2020

Overview of the global construction paints and coatings market

Technavio’s market research analyst predicts the global construction paints and coatings market to grow at a CAGR of almost 6% between 2016 and 2020. There is an increasing demand for functional paints and coatings that provide protection to buildings against harsh weather, dampness, corrosion, fungi, and other destructive or negative influences on the building. Vendors are coming up with paints and coatings that reflect heat rays from buildings and paints that have antimicrobial and water-resistant properties. Moreover, the rise in demand from pre-engineered buildings has also augmented the use of paints and coatings, such as silicon modified polyester, regular modified polyester, and super polyester coatings, in both internal and external environments. With the growing demand for repainting and new construction projects across the globe, the construction paints and coatings market is expected to witness significant growth in the coming years.

In terms of geography, the construction paints and coating market in APAC is the largest and the fastest growing market. China, India, and Japan are the major revenue generating countries in this region. The growing investments in infrastructure development and construction sector are primary drivers for the market’s growth in APAC. Countries like Singapore, Indonesia, and Vietnam are emerging as major revenue contributors in APAC owing to innovations in construction practices such as smart building and mixed-use developments.

Competitive landscape and key vendors

The global construction paints and coatings market is extremely competitive and fragmented owing to the presence of many players including international as well as regional. Competition in the market is expected to intensify in the coming years due to lack of product differentiation. Local players are extending their foothold in the market by offering products at lower prices, which attracts end users. To extend their geographic reach and maximize their profit shares, the vendors are focusing on increasing their market share by M&A.

Leading vendors in the market are -

• AkzoNobel
• Axalta Coating Systems
• BASF
• PPG Industries
• Sherwin-Williams

Other prominent vendors in the construction paints and coatings market include RPM, Nippon, Kansai Paint, Sika, and Jotun.

Segmentation by product type and analysis of the construction paints and coatings market

• Water-based
• Solvent-based

The water-based construction paints and coatings segment dominated the market during 2015 and is expected to grow steadily during the forecast period. The low VOC content of these coatings has led to their increased adoption in the developed regions owing to stringent regulations regarding emissions. Much of the segment’s growth can be attributed to the growing demand from APAC, especially China’s construction industry. Water-soluble paints are classified into polyester-based, polyacrylate-based or acrylic, alkyd-based, epoxy-based, and epoxy ester-based. Cost-effectiveness and high-quality performance are some of the major factors that will drive the growth of this segment over the next four years.

End-user segmentation and analysis of the construction paints and coatings market

• Infrastructure
• Residential construction
• Non-residential construction

Construction paints and coatings have extensive usage in infrastructure development. The recovery of the global housing market and an increase in the demand for home improvement applications are driving the demand for construction paints and coatings in the infrastructure sector. Also, several individuals are undertaking DIY projects for renovating and remodeling their houses, thereby contributing to the demand for architectural coatings. With the growing concerns over environmental conditions, the demand for functional paints and coatings to protect buildings from harsh climatic conditions has increased, resulting in the positive growth of the overall market.

 Key questions answered in the report include

• What will the market size and the growth rate be in 2020?
• What are the key factors driving the global construction paints and coatings market?
• What are the key market trends impacting the growth of the global construction paints and coatings market?
• What are the challenges to market growth?
• Who are the key vendors in the global construction paints and coatings market?
• What are the market opportunities and threats faced by the vendors in the global construction paints and coatings market?
• Trending factors influencing the market shares of the Americas, APAC, and EMEA.
• What are the key outcomes of the five forces analysis of the global construction paints and coatings market?

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Related reports:

• Global Dyes and Pigments Market 2016-2020
• Global Commercial Architectural Coatings Market 2015-2019
• Global Decorative Paints and Coatings Market 2015-2019