Market Summary:

The global Architectural Coating Market reached USD 65.78 billion in 2022 and is anticipated to attain a value of USD 112.08 billion by 2032, demonstrating a robust revenue compound annual growth rate (CAGR) of 6.1% throughout the forecast period. The primary drivers behind this growth in market revenue are the upsurge in the building and construction sector and the increasing demand for environmentally sustainable coatings.

Architectural coatings align with the prevailing trend in the construction industry, which emphasizes the adoption of eco-friendly products and materials. The escalating awareness of the detrimental impacts of traditional coatings on the environment and human health has led to a rising demand for coatings with low or zero volatile organic compounds (VOCs). These eco-friendly coatings not only contribute to reducing the construction industry's carbon footprint but also offer various health benefits to occupants of these structures.

The demand for architectural coatings has witnessed significant growth in recent years, primarily attributed to the heightened need for coatings that can withstand harsh weather conditions and provide long-lasting protection. Additionally, the rapid urbanization and population growth have led to substantial expansion in the construction sector, further boosting market revenue.

Furthermore, advancements in coating properties, such as anti-corrosion capabilities, fire resistance, and self-cleaning attributes, have emerged as a result of technological advancements in architectural coating production. The increasing demand for these high-performance coatings across diverse end-use industries, including healthcare, education, and hospitality, is a driving force behind the growing demand for architectural coatings and the expansion of the market.

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Strategic Development:

• In 2021, PPG Industries, Inc. announced the acquisition of Tikkurila, a Finnish paint and coatings manufacturer, for approximately $1.5 billion. The acquisition aimed to expand PPG Industries' product offerings in Europe and strengthen its presence in the global architectural coatings market.
• In 2020, Akzo Nobel N.V. announced a strategic partnership with BYK-Gardner GmbH, a provider of testing equipment for Paints and Coatings. The partnership aimed to improve the quality and consistency of Akzo Nobel's paint products and enhance its competitiveness in the global architectural coatings market.
• In 2020, BASF SE announced acquiring R-M, a premium Automotive Refinish Coatings manufacturer. The acquisition aimed to expand BASF's product portfolio and enhance its position in the global architectural coatings market.
• In 2019, Nippon Paint Holdings Co., Ltd. acquired Betek Boya, a Turkish paint and coatings manufacturer, for an undisclosed amount. The acquisition aimed to expand Nippon Paint's product offerings in Turkey and strengthen its position in the global architectural coatings market.
• In 2018, The Sherwin-Williams Company completed the acquisition of Valspar Corporation, a global coatings manufacturer. The acquisition was valued at approximately $11.3 billion and aimed at expanding Sherwin-Williams' product offerings and market share in the global architectural coatings market.

Architectural Coatings Market Report Scope

Browse press release:  https://www.reportsanddata.com/press-release/global-architectural-coatings-market

Leading Players in the Architectural Coatings Market:

Some of the major companies in the global architectural coating market include:

• Akzo Nobel N.V.
• BASF SE
• The Sherwin-Williams Company
• PPG Industries, Inc.
• Axalta Coating Systems LLC
• Nippon Paint Holdings Co., Ltd.
• Kansai Paint Co., Ltd.
• Asian Paints Ltd.
• RPM International Inc.
• Jotun A/S

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