The ‘Latin America Architectural Coatings Market Share, Size, Price, Trends, Growth, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the Latin America architectural coatings market, assessing the market on the basis of its segments like resin type, technology, application, end use, and country.
The report studies the latest updates in the market, along with their impact across the market. It also analyses the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
The key highlights of the report include:
Market Overview (2018-2028)
- Forecast CAGR (2023-2028): 4.6%
The Latin America architectural coatings market is being driven by the robust construction sector in the region which is growing at a steady pace. Increasing awareness of the advantages of architectural coatings is leading to their widespread usage in new constructions and in remodelling of older structures. With rising economic development and increasing population, countries in the region are significantly investing in real estate development, including residential, commercial, industrial, and infrastructure. Upgrades of ageing buildings and application of new architectural coatings can also be witnessed throughout Latin America. Further improvements in regional real estate development are anticipated to bolster the growth of the Latin America architectural coatings market in the coming years.
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Architectural coatings for building exteriors are typically more durable than those for interiors, as the exteriors of buildings have greater exposure to different elements. They serve to protect architectural buildings from heat, cold, rain, and UV radiation, aiding in stabilising interior temperatures. Due to the relatively warm climate in the Latin America region, there is a higher demand for robust architectural coatings that can help keep interiors cool. Good quality exterior architectural coatings prevent peeling and fading, thereby improving the aesthetic appeal of the exteriors of various architectural structures, leading to a higher Latin America architectural coatings market demand.
Latin America Architectural Coatings Industry Definition and Major Segments
Architectural coatings refer to the various paints and materials used to coat architectural structures, including the interiors and exteriors. These coatings are durable and designed to provide adequate protection to architectural structures, such as protection from moisture and chemicals and reduced heat transfer. Architectural coatings may be applied at the time of construction or re-applied on existing structures.
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Based on resin type, the market is divided into:
- Acrylic
- Alkyd
- Polyurethane
- Epoxy
- Polyester
- Others
On the basis of technology, the market is classified into:
- Water-Borne
- Solvent-Borne
- Powder Coating
By application, the market is bifurcated into:
- Professional
- DIY
Based on end use, the market is segmented into:
- Residential
- Commercial
- Industrial
- Infrastructure
On the basis of country, the market is categorised into:
- Brazil
- Mexico
- Argentina
- Colombia
- Chile
- Others
Latin America Architectural Coatings Market Trends
Rising popularity of aesthetically pleasing paints and coatings is among the key trends in the Latin America architectural coatings market. Many users in the market are investing in architectural coatings so as to change the visual appeal of their residence, including exteriors and interiors. Depending upon user preference, diverse colours are available and textured architectural coatings are also popular. Changing architectural coatings, particularly upon the purchase of a new house or office, is a cost-effective means of transforming the look of a building.
Solvent-borne technology occupies a sizable share of the Latin America architectural coatings market, supported by the increased resistance to corrosion, high mechanical strength, increased flexibility, and favourable bonding properties this technology offers. Particularly in exterior, commercial, and infrastructure applications, the higher durability of solvent-borne technology is leading to its widespread adoption. Meanwhile, among end users with sustainability concerns, water-borne technologies are commonly in demand.
Within Latin America, Brazil is anticipated to witness considerable growth in the architectural coatings market, fuelled by a growing economy and increasing investments by key market players. Expansion of leading coating manufacturers in Brazil, particularly for power coating type of architectural coatings, is improving the supply chain of architectural coatings in Latin America, thereby bolstering market growth.
Key Market Players
The major players in the Latin America architectural coatings market report are The Sherwin-Williams Company, PPG Industries, Inc., Akzo Nobel N.V., Axalta Coating Systems, LLC, BASF SE, Jotun A/S, Arkema S.A., Pintuco S.A., and WEG Group, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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