Global Exterior Architectural Coatings Market Size 2017 by Resin Type (Acrylic, Polyurethane, Alkyd, Polyester, Epoxy and Others), by Technology (Waterborne and Solventborne), by Product (Primer, Enamel, Emulsions and Others), by Application (Residential and Non-Residential), By Region and Forecast 2020 to 2030

It’s being expected that by 2030, the Exterior Architectural Coatings market cap will hit $107.9 billion at a CAGR growth of about 5.6%. 

The global exterior architectural coatings market was valued at USD 20.92 billion in 2017. The rapid growth of construction activities in emerging economies such as China, India, and Japan is the prime factor behind the market growth.

Sustainability has emerged as a major trend across all the industrial verticals; however, it has gained tremendous traction in the global exterior architectural coating market. Companies such as BASF continue to strengthen their research & development (R&D) activities to cater to their customers with sustainable products and develop ways to save energy by introducing new processes. For instance, in January 2016, BASF launched two polymer dispersion paints, namely, Acronal 7079 and AQAcell HIDE 6299, at Mumbai in India. These paints contain a minimum amount of titanium dioxide which aims at reducing carbon footprints and are planned to help keep building exterior durable and clean with less formation of cracks. Also, self-accountability and changing consumer preferences such as the shift to greener chemicals and use of low volatile organic chemical (VOC) paints including waterborne paints are some of the recent trends observed in the global exterior architectural coatings market.

Exterior architectural coating market is likely to show high gains in the near future owing to the vast population expanse and rise of disposable income. Investment in the real estate has been an important source of economic growth for many countries globally. The change in culture coupled with globalization has been affecting the lifestyle of people. Consumers in developing economies focus on the external appearance of the homes and commercial buildings. They tend to procure higher quality coatings which can provide them exceptional benefits such as good opacity, sheen uniformity, blending and resistance to extreme weather conditions. Thus, increasing demand for color variant and durable coatings has given an impetus to the overall market growth. However, stringent regulations pertaining to the use of VOC paints and fluctuating raw material prices are some of the restraining factors for the growth of the global exterior architectural coatings market.

Acrylics are projected to have lucrative gains over the forecast period, growing with a CAGR of 4.5% from 2018 to 2025, by revenue. This is due to its increasing demand for both water- and solvent-based emulsions. Acrylics provide a superior finishing to the paints and the segment is anticipated to grow on account of increasing consumer spending on aesthetics.

Surging demand for alkyd resins owing to its high-temperature resistance properties is expected to stimulate industry growth. Also, rising consumption of alkyd resins-based coatings in outdoor applications owing to its low cost will fuel its demand over the forecast period. The demand for alkyd resin-based exterior coatings is expected to exceed 1.3 million tons by 2025.

In 2017, residential application dominated the global exterior architectural coatings market accounting for 68.1% of the total volume sales. Rising sales of residential houses owing to the revival of the construction sector and governmental support in the form of loans and subsidies in developing economies play a key role in the growth of this segment. Moreover, the renovation of existing homes due to the rising standard of living adds to the increased usage of exterior architectural coatings.

Europe and North America are expected to witness sluggish growth over the forecast period, owing to the stagnant development of the construction sector in these regions, owing to the maturity of the sector. Asia Pacific is anticipated to witness the fastest growth within the global architectural coatings market, rising with a volume CAGR of 5% throughout the forecast period. Increasing interventions and policies by governments of developing countries such as India with smart city initiatives, has created immense potential for the growth of exterior architectural coating industry in this region. Also, development of the commercial and residential sectors such as set-up of offices and houses is another key factor for driving the exterior architectural coatings market growth.

Key manufacturers in the global exterior architectural coating market are heading towards consolidation in most of the regions. For instance, in June 2017, Sherwin Williams acquired Valspar Corporation, one of the leading manufacturer of exterior architectural coating industry. Also, primary channels of distribution adopted by key manufacturers include company-owned stores, distribution contracts with large mass merchandisers and lumber and specialty retail stores. For example, exterior architectural coating industry leader such as PPG is involved in tying up with various regional modes of paints and coatings distribution, to provide maximum access of its products to customers in different regions and in turn maximize its sales.

Exterior Architectural Coatings Market Scope

Key segments of the global exterior architectural coatings market

Resin Type Overview, (Kilo tons) (USD Million)

• Acrylic
• Polyurethane
• Alkyd
• Polyester
• Epoxy
• Others

Technology Overview,  (Kilo tons) (USD Million)

• Waterborne
• Solventborne

Product Overview,  (Kilo tons) (USD Million)

• Primer
• Enamel
• Emulsions
• Others

Application Overview, (Kilo tons) (USD Million)

• Residential
• Non-Residential

Regional Overview, (Kilo tons) (USD Million)

• North America
  • U.S.
  • Canada
• Europe
  • France
  • UK
  • Germany
  • Rest of Europe
• Asia Pacific
  • India
  • Japan
  • China
  • Rest of APAC
• Latin America
  • Brazil
  • Rest of Latin America
• Middle East & Africa