Global Construction Paints and Coatings Market is estimated to be valued at US$ 9294.1 Million in 2021, according to the Global Construction Paints and Coatings Market Report, by Product Type (High Solids/Radiation Cured, Powder Coating, Water Borne, Solvent Borne and Others (Special Purpose Paints)), by Application (Architectural Paints, Others (Special Purpose Paints)), by Region (North America, Europe, Asia-pacific, Latin America, Middle East & Africa), published by Coherent Market Insights.  

Global construction paints and coatings market was valued at US$ 9294.1 Million in 2021 and is expected to register a CAGR of 5.3% over the forecast period (2022–2030), to reach US$ 14717.5 Million by 2030.

Construction paints and coatings are varnishes materials that are available in the form of powder and liquid. It increases the resistance of the various surface and prevent rusting. Solvent-borne coatings, powder coatings, radiation cured coatings, waterborne coatings, and specialty coatings are some of the major types of construction paints and coatings.

COVID-19 pandemic has highly impacted the construction engineering industry, resulting in a 9% decline in the revenues, estimated for year 2020, according to Coherent Market Insights (CMI) in 2019. The construction engineering industry is expected to be valued around US$ 12,380.0 billion in 2020 from 13,600.0 billion in 2019. Countries such as the U.S., China, India, and the U.K. which are major markets for construction industry, were locked down as a measure to combat the pandemic which halted all the ongoing construction projects. With existing challenges in construction industry due to regulatory restraints under the Environment Laws and Real Estate Act, 2016 and with impact of COVID-19 Pandemic, it is expected to hamper the growth of construction paints and coatings market.

To know the latest trends and insights prevalent in this market, click the link below:

https://www.coherentmarketinsights.com/market-insight/construction-paints-and-coatings-market-4094

Browse 50 market data tables* and 40 figures* on "Global Construction Paints and Coatings Market” - Forecast to 2030.

Key Trends and Analysis of the Global Construction Paints and Coatings Market:

  • Shifting inclination of the manufacturer towards advertising and marketing their product in the market is a key trend. For instance, In December 2020, Jotun launched its Jotacote Universal S120 PRIMER to the global market in North East Asian and Western European marekets. Jotacote Universal S120 PRIMER is the world’s first PSPC approved single-coat, solvent free system. With iincreasing such initiatives by key players as a business strategy will favor the market growth of the construction paints &coatings.
  • The growing use of fluoropolymers in the building & construction industry is one of the current trends in the market. Fluoropolymers offer high durability, resistance to UV, and anti-corrosion properties to the architectural structure. They are used in the construction of large roofs and provide weatherability and durability while maintaining aesthetical appeal to the surface. Hence, the growing use of fluoropolymers in the construction industry is expected to foster market growth.

Key Takeaways of the Global Construction Paints and Coatings Market:

  • On the basis of application in 2021, the others segment has accounted the largest market share of 59%in terms of value, followed by architectural paints
  • Asia Pacific was the leading revenue contributor in 2021 It is likely to observe increase in infrastructure spending over the coming years on account of rapid urbanization and growing population. For instance, Increasing construction activities in Asia Pacific region is expected to drive the market, , According to data published by Trade Government on April 2022, China is the world’s largest construction market and is forecasted to grow in the forecasted period.
  • The increasing preference for recycled plastics is a growing trend in the market. The world population is increasingly becoming aware of the adverse impact of plastic materials on the environment. This has led to a rapid increase in demand for use of recycled eco-friendly plastics: bioplastics that are manufactured from polymer resins derived from plants and plastics that can be decomposed with the help of bacteria. For instance, in September 2021, BASF, a Germany-based chemicals company engaged in offering construction plastics, launched a new range of additive solutions called IrgaCycle to address the imminent needs in plastics recycling. This new IrgaCycle range helps in providing additive solutions to help increase the percentage of recycled content in end-use industries such as building and construction, automotive and mobility, and packaging.

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