The interior architectural coatings market is segmented by technology (water-borne coatings, and solvent-borne coatings), resin (acrylic, polyester, alkyd, epoxy, polyurethane, and others), and by geography (APAC, Americas, and EMEA). It also presents the vendor landscape and a detailed analysis of the leading vendors in the market.
Technavio’s market research analysts estimate the global interior architectural coating market to grow at a CAGR of around 6% between 2015 and 2019 owing to increased demand from the APAC region, which occupies around 39% of the market share. The expanding housing market and the rising export of interior architectural coatings are the main factors driving this market. India and China are the key markets with an augmented demand for water-borne coatings.
The water-borne coatings segment dominates the interior architectural coatings market holding a market share of around 74%; it is the fastest growing section because of low VOC emissions, as more consumers are shifting towards eco-friendly water-borne coatings. Moreover, the growth of housing and construction activities in the APAC has intensified the market growth, with China being a leading consumer of water-borne coatings.
Residential end-users occupy around 65% of the interior architectural coatings market because of the recovery of the global housing market and increased demand for home improvement applications such as remodeling or new construction activities.
Segmentation of residential end-users by application 2014
Source: Technavio Research
“Consumer inclination towards eco-friendliness and strict fuel-economy regulations by countries are prompting manufacturers to go for sustainable and low weight materials for usage in automobiles, thereby driving innovation. Many regional vendors are offering low-cost and high-performance interior architectural coatings focusing on the introduction of metallic paints that end-users can use to highlight surfaces,” says Sriram Moha, Lead Analyst, Chemicals and Materials, Technavio Research.
The interior architectural coatings market is dominated by few major vendors of paints and coatings such as AkzoNobel, PPG, Sherwin-Williams, and Valspar. Key vendors in the market such as AkzoNobel, Sherwin-Williams, PPG, and Valspar are focusing on enhancing their presence in APAC and Latin America.The demand for interior architectural coatings, especially in countries such as China, India, Japan, and New Zealand, has spurred the growth of several new entrants, especially domestic vendors.
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