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

Regional Analysis

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North America has dominated the global architectural coatings market with market share 45.6% for decades, owing to the strong presence of coating manufacturers as well as their wide scale adoption across various end-use industries in the construction and painting sectors. The U.S. accounts for the largest share in the region due to the huge construction industry and increasing residential and commercial construction activities over the years. Moreover, major coating companies like PPG Industries, Sherwin-Williams, and Axalta Coating Systems are headquartered in the U.S., which gives it an edge over other countries.

Asia Pacific region has emerged as the fastest growing market for architectural coatings globally. China is the forerunner in the region owing to the rapid urbanization and industrialization, which have escalated numerous infrastructure projects and construction activities over the past few years. Also, low production costs and growing foreign investments in the real estate and infrastructure sectors have augmented the coatings demand. Furthermore, other Asian countries like India, Indonesia, and Vietnam are anticipated to offer ample opportunities, as they are witnessing increased construction of commercial buildings, residential buildings, and civil construction works. This will propel the use of decorative and protective coatings in the coming years.