Oct. 5, 2022
Solid Growth Expected For Architectural Coatings
The global architectural coatings market is estimated at US$64.2 billion in 2022 and projected to reach $79.5 billion by 2026, growing at a compound annual growth rate (CAGR) of 4.9 per cent over the analysis period, says a report by ResearchAndMarkets.com. Demand is being fueled by the growing base of commercial buildings globally. Further, the rising use of coatings in the interiors of buildings is aiding market growth. Renovation activity along with building and construction projects in commercial, industrial, and residential sectors are helping build demand. Demand for the epoxy resin segment is attributable to its increased usage in floor coatings because of superior bond strength, durability, adhesion, corrosion resistance, anti-sagging properties, low porosity, and chemical resistance. In the global epoxy segment, the U.S., Canada, Japan, China, and Europe will drive the 4.1 per cent CAGR estimated for this segment.