Articles
Interior Architectural Coatings Market is Expected to Reach US$ 57.8 Billion by 2024
by Rahul Rastogi Market Research AnalystThe latest report by IMARC Group, titled “Interior
Architectural Coatings Market Report: Global Industry Trends, Share, Size,
Growth, Opportunity and Forecast 2019-2024”, finds that the interior architectural coatings market to reached
a value of US$ 39.8 Billion in 2018. Interior architectural coatings are
designed to protect the surface of an interior wall from water spotting and
staining. With a rise in the income levels, consumers are spending more on
remodeling and improving the aesthetics of their homes. As a result, the
manufacturers are developing premium-quality and specialty paint and wood stain
products. In recent years, waterborne coatings have also gained popularity
across the globe as they produce low VOC emissions and are more cost-efficient
as compared to their solvent-based counterparts.
Request Free Sample Report: https://www.imarcgroup.com/interior-architectural-coatings-market/requestsample
Market Trends:
The changing lifestyles and rising standards of
living have encouraged consumers to use premium quality products to beautify
their homes. Besides this, due to increasing infrastructural projects in
developing countries, there has been a rise in the manufacturing and imports of
architectural coatings in these regions. Moreover, governments around the world
are introducing strict regulations regarding the environmental impact of these
coatings. In order to comply with the new guidelines, the manufacturers have
developed products with low- and zero-VOC coalescent structure to provide which
are eco-friendly, offer greater end user appeal and deliver high performance. Looking
forward, the Interior
architectural coatings market size is projected to reach US$ 57.8
Billion by 2024, expanding at a CAGR of 6.4% during 2019-2024.
Market Segmentation:
· Based
on the resin type, the report finds that acrylic resin is the most popular
resin and dominates the market. Other major resin types include polyester,
alkyd, epoxy, polyurethane and others.
· Based
on the technology, the market has been segregated into water-borne coatings and
solvent-borne coatings. At present, water-borne coatings are majorly used in
the interior architectural coatings.
· The
market has also been classified based on the distribution channel into
company-owned stores, independent distributors, and large retailers and
wholesalers. Amongst these, company-owned stores are the biggest distribution channel,
holding the largest market share.
· On
the basis of the type of consumer, the market has been segmented into
professional and DIY (Do-it-yourself) consumers. Professional consumers
currently dominate the market, accounting for the majority of the market share.
· On
the basis of the end user, the market has been divided into residential and
non-residential sectors. At present, the residential sector enjoys a leading
position in the global market.
· Region-wise,
Asia Pacific exhibits a clear dominance in the market. Other major regions
include Europe, North America, Middle East and Africa, and Latin America.
· The
competitive landscape of the market has also been examined with some of the key
players being Axalta Coatings, AKZO Nobel, BASF SE, Asian Paints, Kansai Paint
Co., Nippon Paints, RPM International Inc., PPG Industries, The Valspar
Corporation and The Sherwin- Williams Company.
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About Rahul Rastogi 
Market Research Analyst
42 connections, 0 recommendations, 213 honor points.Joined APSense since, September 6th, 2018, From New York, United States.
Created on Jun 5th 2019 05:38. Viewed 396 times.
