The top four players in the global construction paints and coatings
market are BASF SE, E. I. du Pont de Nemours Company, Owens Corning,
CertainTeed Corporation, and Kingspan Group Plc. These companies
collectively held a share of 12.4% in the global market in 2012.
Players operating in the global market are focusing on developing
less harmful construction paints and coatings keeping in mind the
strict regulatory framework governing their usage. “Companies are
also anticipated to secure the supply of raw materials in order to
prevent any obstruction in the manufacturing of construction paints
and coatings,” says the lead author of this research report.
Asia
Pacific Emerges as Key Geographical Segment
According to the research report, the opportunity in the global
construction paints and coatings market is expected to be worth
US$76,089.2 mn by 2019 as the market surges at a CAGR of 5.8% between
2013 and 2019.
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The demand for waterborne coatings is expected to show remarkable
progress as consumers are opting for these coatings due their
environment-friendly features. By the end of the forecast period,
this product segment is expected to garner a share of 31.6% in the
overall market. Geographically, Asia Pacific is anticipated to
represent a share of 46.1% in the global construction paints and
coatings market as the construction activities in the region are
gaining momentum.
Urbanization
becomes the Undercurrent for Growing Demand for Construction Paints
and Coatings
The primary growth driver for the global construction paints and
coatings market is the sudden rise in the construction activities
across the world. This is a predominant trend in Asia Pacific, which
is proving to be a lucrative region for growth to the overall market.
Strengthening economies and growing urbanization are the two key
factors supporting the uptake of construction paints and coatings.
The rising disposable incomes and improving purchasing powers is also
encouraging various builders to investment in high-quality
construction materials, which has made a generous contribution to the
revenues of construction paints and coatings.
The growth of the overall market is also attributable to the
increasing demand for waterborne coatings. Consumers and builders are
opting for these over solvent-based coatings as they are eco-friendly
and less hazardous to human life. The stringent regulatory framework
that emphasizes less usage of VOC has forced manufacturers to develop
environment-friendly alternatives. In recent times, the demand for
waterborne paints and coatings has drastically shot up due to
increasing construction activity in Japan after the recent
earthquakes.
The rapid pace of infrastructural development in APAC countries is
driving the overall construction paints and coatings market. Efforts
to modernize the existing infrastructure is also likely to make a
generous contribution towards the escalating revenues of the overall
market.
Harmful
Effects of VOC Deter Global Market
The strict regulations pertaining to the use of harmful chemicals to
make construction paints and coatings is acting as a prominent
deterrent in the global market. The problem lies with high usage of
VOCs that are known to be harmful to human health and the
environment. Thus, governments across the globe have raised concerns
about the usage of VOC in manufacturing construction paints and
coatings.
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The volatile nature of raw material prices has also had a negative
impact on the trajectory of the global construction paints and
coatings market. Oftentimes, it compels manufacturers to increase the
prices of the final product, which in turn hampers the profitability
of the overall market.
The aforementioned review is based on Transparency Market Research’s
research report, titled “Construction Paints and Coatings Market -
Global Industry Analysis, Size, Share, Growth, Trends and Forecast –
2019.”
Segmentation
of the Global Construction Paints and Coatings Market:
By
product:
- High Solids/Radiation Cured
- Waterborne coatings
- Solvent-borne coatings
- Powder coatings
- Others
By
application:
- Architectural Paints
- Others (such as special purpose paints)
By
geography:
- North America
- Europe
- Asia Pacific
- Rest of the World
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