The report presents a comprehensive research of the global architectural coatings market by resin type, including acrylic resins-based architectural coatings, alkyd resins-based architectural coatings, epoxy resins-based architectural coatings, polyurethane resins-based architectural coatings, and polyester resins-based architectural coatings. The report also determines the geographic breakdown of the market in terms of detailed analysis and impact, which includes key geographies such as APAC, the Americas, and EMEA.
This report is available at a USD 1,000 discount for a limited time only: View market snapshot before purchasing
Save more with Technavio. Buy 2 reports and get the third for FREE: View all Technavio’s current offers
Market driver: increasing demand for waterborne coatings
Waterborne coatings exhibit low toxicity and flammability because of reduced emissions of VOC and HAP emissions. They have good heat, excellent adhesion, and abrasion resistance. They aid in reducing the overall cost when compared with solvent-borne coatings as there is less or no requirement for additional additives, thinners, or hardeners. These coatings are also known to have a long pot life, allowing the preservation of waterborne coatings for future use. Additionally, in cases where the solvent-borne coating reacts with the substrate, waterborne coatings are the ideal choice. The maintenance of paint guns used for waterborne coatings is trouble-free since water or water-based solutions can be used for cleaning purposes.
According to a senior analyst at Technavio for specialty chemicals research, “The manufacturers of paint are rapidly shifting their focus on powder and waterborne low-VOC technologies because of their increasing prominence and innovative opportunities. This has broadened the scope for the developments of processes and products in the field of sustainable coatings.”
Looking for more information on this market? Request a free sample report
Technavio’s sample reports are free of charge and contain multiple sections of the report including the market size and forecast, drivers, challenges, trends, and more.
Market trend: introduction of fluoropolymer topcoats
The durability of commercial coatings is a vital challenge for vendors in the market. Thus, vendors are focusing on the introduction of products for commercial applications such as facades. Fluoropolymer topcoats provide an extended service life of 15-30 years as compared with that of polyurethane coatings (5-10 years). Fluoropolymer facade coatings demonstrate superior mechanical properties and weather resistance. There has been continual innovation in this technology as vendors have increased their expenditure on R&D to develop high-performance coatings. The increase in the preference for fluoropolymer topcoats is expected to influence the market growth positively during the forecast period.
Market challenge: fluctuation in the prices of crude oil
The cost of paints and coating products depends on the fluctuation in the prices of crude oil that was at an 11-year low in 2016. The price of benzene in the Asian markets dropped sharply because of the weak demand. The volatility in the prices of crude oil is expected to lead to fundamental changes in the demand and supply dynamics in the global paints and coatings market. The oversupply of oil has led to a supply-demand imbalance that translated to the low price of oil.
Is your business on track for a successful future? Learn how Technavio can help
Technavio helps businesses anticipate changes in their marketplace, make proactive adjustments, and develop effective strategies to optimize their market positions.
Technavio’s best deals of the month!
Mark the beginning of spring with Technavio. Get 30% discount on all energy reports. Offer valid from 12th March for a limited period.
Get 20% off on all media and entertainment services reports. Offer valid only till the 31st of March.
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
If you are interested in more information, please contact our media team at firstname.lastname@example.org.