London, 22 July 2015: Technavio, the independent tech-focused global research firm, has published a report on the global waterborne architectural coatings market 2015-2019, which is projected to grow at a CAGR of 6.29% during the forecast period of 2014-2019.
Increasing investment in the development of infrastructure in the APAC region and Latin America has contributed to the growing demand for architectural coatings, especially from the commercial sector. The growth of the housing market in various countries in the APAC region and Latin America such as Peru, Colombia, Chile, India, Thailand, Philippines, and Indonesia has led to an increase in demand for architectural coatings from residential end-users.
“Vendors are introducing unique colors and implementing marketing communication programs to enhance brand awareness,” says Faisal Ghaus, Vice President of Technavio.
“Key vendors in the market are also focusing on the introduction of metallic paints that end-users could deploy to highlight surfaces. Tikkurila offers such products.”
Key Market Drivers
- Recovery of Housing Market in APAC
- Strong Demand from APAC and Latin America
- Introduction of New Facade Coatings
Key Market Trends
- Focus on New Color Schemes
- Provision of Support Services
- Increasing Demand for Functional Coatings
Key Market Vendors
- AkzoNobel NV
- Asian Paints
- BASF SE
- Benjamin Moore & Co.
- DAW SE
- Masco Corp.
- Nippon Paint
- PPG Industries Inc.
- The Sherwin-Williams Co.
- The Valspar Corp.
To define the market circumstances in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
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