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Market Definition: Global Architectural Coatings Resins Market
Architecture coatings are those decorative coatings which are used to coat homes and buildings. These coatings provide resistant to chemicals, moisture, heat, weather and other conditions. Different resins are used in the architecture coatings such as alkyd resin, vinyl resin, acrylic resin, and polyurethane resins. They are mainly used for wall paints, deck finishes and roof coatings. There main function is to provide protection and increase durability. Different technology are used in these coatings are waterborne coating, solventborne coatings and powder coatings.
Market Analysis: Global Architectural Coatings Resins Market
Global architectural coatings resins market is set to witness a substantial CAGR in the forecast period of 2019- 2026. The report contains data of the base year 2018 and historic year 2017. Introduction of green coating solution and increasing application area of nanocoatings are the factor for the growth of this market.
Rising demand from construction industry will drive the market growth
Increasing awareness among population about VOC emissions will also propel the market growth
Growing adoption of water borne coating formulations will also accelerate market growth
Increasing per capita paint consumption in APAC will also enhance the market growth
High cost of the raw material will restrain the market growth
Strict government norms and regulations will also restrict the growth of this market
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Global architectural coatings resins market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of architectural coatings resins market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Key Market Competitors: