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Global Interior Architectural Coatings Market to Reach US$ 57.2 Billion by 2027, Propelled by Significantly Rising Construction Activities

Published on Sep 19, 2022

The latest report by IMARC, titled “Interior Architectural Coatings Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, finds that the global Interior architectural coatings market size reached US$ 44.4 Billion by 2021. Interior architecture refers to technically managing and designing the interior space of a building, keeping several factors in mind, including plumbing, finishes, materials, lighting, electrical requirements, and smart use of the available space. Interior architectural coatings are designed to protect the surface of an interior wall from water staining and spotting. In recent years, interior architectural coatings have gained momentum due to the popularity of water-borne coatings, as they generate low VOC emissions and are more economical as compared to their solvent-based counterparts.

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect effect of the associated industries. These observations will be integrated into the market.

Global Interior Architectural Coatings Market Trends:

One of the primary factors driving the market is the significantly rising construction activities in both residential and commercial sectors. Additionally, the  rising awareness among the masses regarding the safety and VOC emissions from architectural coatings is creating a positive market outlook. Other than this, the widespread adoption of green coatings due to the stringent regulations imposed by governments of various nations against the harmful VOCs emitted by certain interior architectural coatings is positively influencing the market growth. Besides this, the augmenting demand for interior architectural coatings from the general and construction industrial sectors is propelling the market growth. In line with this, the increasing number of individuals moving to urban areas is driving the market growth. Moreover, with the inflating income levels of the masses and the rising expenditure on home renovation, key players are introducing premium-quality and specialty paint and wood stain products with a wider variety of colors, and enhanced consistency and durability. Furthermore, the leading manufacturers are also developing eco-friendly, higher-quality architectural coatings, thus creating a positive market outlook. Looking forward, IMARC Group expects the market value to reach US$ 57.2 Billion by 2027, expanding at a CAGR of 4.5% during 2022-2027.

Market Summary:

  • Based on the resin type, the market has been divided into acrylic, polyester, alkyd, epoxy, polyurethane, and others. At present, acrylic resins are widely used for producing interior coatings.
  • On the basis of technology, water-borne coatings technology holds the majority of the overall market share, followed by solvent-borne coatings.
  • Based on the distribution channel, the market has been segregated into company-owned stores, independent distributors, and large retailers and wholesalers. Currently, the majority of the interior architectural coatings are distributed through company-owned stores.
  • On the basis of the type of consumer, professional consumers exhibit a clear dominance, followed by DIY consumers.
  • Based on the end use sector, the market has been segmented into residential and non-residential. Amongst these, architectural coatings are mostly used in the residential sector.
  • Region-wise, Asia Pacific holds the leading position in the market. Other major regions include Europe, North America, Middle East and Africa, Latin America.
  • The competitive landscape of the market has been analyzed, with some of the key players being Akzo Nobel N.V., Axalta Coatings Systems LLC, Asian Paints Limited, BASF SE, Nippon Paint/Nipsea Group, Kansai Paint Co. Ltd., PPG Industries Inc., RPM International Inc., The Sherwin-Williams Company, and The Valspar Corporation.
     

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