Some of the key players in global architectural coatings market are PPG Industries, Inc., Asian Paints ltd, Nippon paint holdings Co. ltd, Kansai Paints Co. ltd, Akzo Nobel N.V., RPM International Inc., Masco Corporation, Jotun group, The Sherwin-Williams Company (US).
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Global architectural coatings market is expected to reach USD 108.9 billion in 2030
by paul mathew Digital MarketerArchitectural coatings are paint and coat which used across building and construction activities. The product is used in roof coatings, deck finishes and wall paints. Additionally, these coatings reveal excellent properties of protective, decorative, resistance to corrosion and durable functionalities. Global architectural coatings market accounted for approximate USD 68.1 billion in 2020 and it is expected to reach USD 108.9 billion in 2030 with a CAGR of 4.8% during the forecast period. Moreover, it is used for preventing rusting metallic components of metal furniture, wall paintings, effects from solar radiations and wooden flooring.
The economic growth in developing countries, increase investment in infrastructure, demands for green and environment friendly coatings leadings the growth of market. Moreover, growth of market is related to growth of construction industries. Additionally, repair of sculptures and artifacts work at heritage locations is amplifying the growth of market. However, stringent government regulation and time consuming regulatory policies are restraining the growth of market. Increase in awareness regarding coatings with less volatile organic compounds, implementation of safety regulations and increase in residential maintenance activities will amplify the market growth during forecast period.
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Asia Pacific market is dominating and hold largest share for architectural coatings market. Due to large number of developments and reclamation activities by government organizations and significant development firm in India, China and Japan, market is assessed to witness fastest growth in region during forecast period. Additionally, growing population, prominent rise in construction and economic growth in region are driving the market. Asia Pacific is followed by the Europe and North America market. Increase in the growing trend of using bio-based coatings will amplify market growth in Europe. UK, France, Spain and Italy are anticipated to be the growth drivers for European market. According to research study, Asia Pacific holds approximate 46% of global market share.
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About paul mathew 
Digital Marketer
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Created on May 26th 2021 07:07. Viewed 228 times.
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