Overview and Scope
Construction paints refer to a mixture or dispersion of opaque pigments or powders in a liquid or solvent. Coatings include varnishes and inorganic binders which are examples of additional substances that can be related to paint in their application. In construction paints and coatings are important to prevent and reduce corrosion in buildings, building components, and infrastructure.
Sizing and Forecast
The construction paints and coatings market size has grown strongly in recent years. It will grow from $57.56 billion in 2023 to $60.57 billion in 2024 at a compound annual growth rate (CAGR) of 5.2%. The growth in the historic period can be attributed to growing construction activities, urbanization trends, regulatory compliance, economic stability, raw material costs.
The construction paints and coatings market size is expected to see strong growth in the next few years. It will grow to $75.39 billion in 2028 at a compound annual growth rate (CAGR) of 5.6%. The growth in the forecast period can be attributed to global recovery post-pandemic, sustainability focus, infrastructure investments, residential and commercial real estate demand, supply chain challenges. Major trends in the forecast period include smart coatings and nanotechnology, digitalization in construction, technological advancementsdigital transformation, increased r&d for performance enhancements.
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Segmentation & Regional Insights
The construction paints and coatings market covered in this report is segmented –
1) By Product Type: Solvent-Borne Technologies, Water-Borne Coating, Power Coating, High Solids/ Radiation Cure, Other Product Types
2) By Resin Type: Polyurethane, Acrylic, Epoxy, Polyester, Alkyd
3) By Application: Residential, Commercial, Automotive And Aviation, Medical And Healthcare
North America was the largest region in the construction paints and coatings market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global construction paints and coatings market report during the forecast period. The regions covered in the construction paints and coatings market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The rising new construction projects is expected to propel the growth of the construction paints and coatings market going forward. Construction projects refer to the systematic process of constructing, repairing, refurbishing, retrofitting, or adapting a building, or other built asset such as a tunnel or bridge. In construction projects, paints and coatings are projected to be important to prevent water from penetrating, to prevent corrosion, rotting, and deteriorating. For instance, in March 2023, according to Zippia, a US-based technology, information, and internet company, in January 2023, 1.4 million new construction projects were completed, which is a 12.8% increase, compared to January 2022. Therefore, the rising number of new construction projects is driving the growth of the construction paints and coatings market.
Key Industry Players
Major companies operating in the construction paints and coatings market report are PPG Industries Inc., Badische Anilin- und Sodafabrik, Akzonobel N.V., Sherwin Williams Company, Asian Paints Ltd., Axalta Coating Systems Ltd., Valspar Corporation, Helios Group, Tikkurila Oyj, Beckers Group, DyStar Singapore Pte Ltd., Republic Powdered Metals International Inc., Jotun Chemicals, Dow Chemicals, Nippon Paint Holdings Co. Ltd., Kansai Paint Co. Ltd., Benjamin Moore & Co., Berger Paints Ltd., Hempel A/S, Brillux GmbH & Co. KG, DAW SE, H.B. Fuller Company, Dunn-Edwards Corporation, Kelly-Moore Paint Company Inc., Rust-Oleum Corporation, Toa Kensetsu Kogyo Corporation, Diamond Vogel Paints, Tnemec Company Inc., National Paints Factories Co. Ltd., Farrow & Ball Ltd.
The construction paints and coatings market report table of contents includes:
1. Executive Summary
2. Construction Paints And Coatings Market Characteristics
3. Construction Paints And Coatings Market Trends And Strategies
4. Construction Paints And Coatings Market – Macro Economic Scenario
5. Global Construction Paints And Coatings Market Size and Growth
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31. Global Construction Paints And Coatings Market Competitive Benchmarking
32. Global Construction Paints And Coatings Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Construction Paints And Coatings Market
34. Construction Paints And Coatings Market Future Outlook and Potential Analysis
35. Appendix
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