ARCHITECTURAL COATINGS MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)
Strict environmental regulations around the world aim to reduce volatile organic compound (VOC) emissions from paints and coatings. This increases production costs for manufacturers. Furthermore, architectural designs are becoming more innovative, requiring advanced, multi-functional coating solutions. Keeping up with the latest design trends and delivering customized product offerings is difficult. Fluctuating raw material prices also impact the market. The recent pandemic disrupted global supply chains, creating shortages of critical inputs. Economic uncertainties led to reduced demand from the construction industry.
Market Opportunities: Rapid Infrastructure
The market sees several opportunities for growth. With rapid urbanization, infrastructure and building construction are booming globally. This drives the need for large volumes of coatings. Growing consumer preference for environmentally-friendly, low-VOC products.
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