ARCHITECTURAL COATINGS MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Market Concentration and Competitive Landscape

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Rapid Urbanization and Growing Home Improvement Activities

Another key driver for the architectural coatings market growth worldwide has been the swift pace of urbanization. As more people migrate to cities in pursuit of education and employment opportunities, the demand for housing and commercial infrastructure grows exponentially. This phenomenon is very prominent in developing regions where over 50% of the population now resides in urban areas. The aging building stocks in mature cities also require regular maintenance through painting, wallpapering, and other remodeling activities. On the residential front, home improvement has become a huge industry driven by changing aesthetics and rising disposable incomes. People are frequently upgrading and beautifying their homes through interior and exterior painting work. The do-it-yourself culture is inspiring homeowners to handle minor painting jobs themselves, which is propelling the sales of architectural coatings through retail channels. Architects and builders also recognize that regular coats of top-quality paints, stains, and other facade products can protect the exteriors as well as enhance curb appeal of buildings significantly.

• PPG Industries
• Asian Paints
• Nippon Paints
• The Sherwin-Williams Company
• Axalta Coatings
• RPM International Inc.
• The Valspar Corporation
• Midwest Industrial Coatings Inc.
• Sumter Coatings
• BASF SE
• JSW
• Jotun
• AkzoNobel N.V.
• Chemours Company
• Arcat
• FUJIKURA KASEI CO., LTD.
• Syensqo
• Metcon Coatings & Chemicals India Private Limited.
• Acro Paints
• Varuna Paints Private Limited