MarketsandMarkets’ new report, “Paints & Coatings Market by Resin (Acrylic, Alkyd, Epoxy, PU, Vinyl, Fluoropolymer, Polyester), Technology (Waterborne, Solventborne, Powder), Application (Architectural (Residential, Non-residential), Industrial), and Region – Global Forecast to 2026,” projects the paints & coatings market size to reach $212 billion by 2026, at a CAGR of 2.9%.

Architectural end-use segment is the fastest-growing segment of the overall paints and coatings market. Architectural paints & coatings, also known as decorative paints & coatings or building paints, are applied to the interior and exterior walls of all types of residential, commercial, industrial, and institutional buildings. Apart from their decorative features, architectural paints & coatings also possess some protective features. These are applied either by building contractors or directly by customers as do-it-yourself (DIY).

Architectural coatings also find use in decorative interiors such as furniture, wood flooring, wall paintings, and sculptures. An increase in environmental awareness among consumers and manufacturers has led to technological innovations in the coating industry to provide quality products that are affordable, of high quality, possess value-added features, and meet the global trends. Similarly, growing safety standards will raise the demand for waterproof and fireproof coatings for buildings.

Asia Pacific is the largest paints & coatings market during the forecast period. The development of the market is mainly attributed to the high economic growth rate followed by heavy investment across industries, such as automotive, consumer goods & appliances, building and construction, and furniture.