Report Predicts Architectural Coatings Market to Reach $87.5 Billion by 2025
PUNE, India - Transparency Market Research has published a new study that reports the global architectural coatings market was valued at $53.264 billion in 2016 and is estimated to reach $87.5 billion by 2025, expanding at a compound annual growth rate (CAGR) of 5.7% between 2017 and 2025.
Architectural coatings are coatings that provide protection to the surface and enhance its appearance. They are applied to commercial and residential buildings. These coatings protect surfaces from elements such as moisture, UV radiation and microbes. Major types of architectural coatings are paints, primers, stains, lacquers and varnishes. Architectural coatings include paints and specialty coatings for floors, roofs, walls, ceilings, concrete surfaces, and other building and construction applications. Reconstruction and renovation activities in the building and construction sector are propelling the global architectural coatings market.