Architectural Paint Oxide Market Size, Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI3951
Architectural Paint Oxide Market size is expected to grow steadily within the forecast timespan as these paints are used to provide protective layer on the surfaces of various architectural structures or fixtures in both indoor and outdoor applications. Additionally, they offer decorative aspect to these structures. Some of the paints include antimicrobial additives which aid in deterioration control caused by mildew. Architectural paint oxides are used for various structures such as wall, roof, floor and many other structures.
The architectural paint oxide market will be driven by increasing residential construction activities all over the world. Increasing population is fueling the worldwide demand of residential buildings. Due to favorable economy changes, increasing net worth of individuals and rising spending propensity of people, residential construction sector has a huge potential in future. Additionally, changing lifestyles and consumer aspirations will boost the residential construction activities in future. The aforementioned factors will bolster the residential buildings sector in upcoming years thereby propelling the architectural paint oxide market growth as they are widely incorporated in interior and exterior applications.
Rising need of office and other commercial spaces is going to drive the commercial construction sector in future. Increasing corporate profits are enabling consumers to invest more in commercial buildings. Such trends will drive this sector and subsequently generate the demand for architectural paint oxide within the forecast period.
Increasing need of infrastructure will be one of the main factors contributing in the growth of architectural paint oxide market. Infrastructure buildings promote social and economic development along with improving the quality of life. There is a huge need of infrastructure investment in order to support the ongoing and future infrastructure construction related activities, and many countries are taking the right steps to fulfill these needs. In developed countries, infrastructure development will support in maintaining the economy growth whereas in developing countries, it will promote urbanization and create positive outlook for various businesses. Investments in public infrastructure is directly related with growth in population and economy. As global population is cumulating along with rising income levels, it will generate more demand for the infrastructure and transport facilities. Increasing investments will spur the public infrastructure development all over the world and in turn will fuel the architectural paint oxide market size by 2025. However, the market growth will be affected by hazardous environmental impact caused by the product. Research and development activities are being carried out to reduce these adverse effects with the help of renewable, bio-based or recycled ingredients instead of organic solvents.
The architectural paint oxide market is classified based on type, mode of application, application and end-use. Based on type, the market is categorized into water based and solvent based. Based on mode of application, the market is divided into interior and exterior segments. Based on application, the market is segmented into walls, roof, floors, ceilings and others. The end-use segment comprises residential, commercial and infrastructure sectors.
Asia Pacific region will capture significant market share in architectural paint oxide market in future. Rising infrastructure and residential construction activities in Asian region will bolster the architectural paint oxides demand between 2019 to 2025. The National Development and Reform Commission (NDRC) of China has approved 27 infrastructure projects with an investment of USD 219.43 billion. Indian government has undertaken Pradhan Mantri Awas Yojana initiative to build 20 million affordable houses by 2022. Such initiatives will propel the market size by 2025. Europe and North America will grow at steady rates between 2019 to 2025. According to European Construction Industry Federation (FIEC), total construction production of European Union increased by 17.39% from 2014 to 2018. Such favorable trends associated with construction industry all over the world will positively influence the growth of architectural paint oxide market by 2025.
Some of the key players in the architectural paint oxide market are Asian Paints Limited, FENZI S.p.A, Ashland Global Holdings Inc., Nippon Paint Holdings Co., Ltd., The Sherwin-Williams Company, PPG Industries, Inc., and others.
By Type, 2014-2025 (USD xx)
- Water based
- Solvent based
By Mode of Application, 2014-2025 (USD xx)
By Application, 2014-2025 (USD xx)
By End-use, 2014-2025 (USD xx)
The above information has been provided for the following regions and countries:
- North America
- South Korea
- Latin America
- Saudi Arabia
- South Africa
- Asian Paints Limited
- FENZI S.p.A
- Ashland Global Holdings Inc.
- Nippon Paint Holdings Co., Ltd.
- The Sherwin-Williams Company
- PPG Industries, Inc.
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