Global Architectural Coatings Market – Introduction of Fluoropolymer Topcoats to Promote Growth | Technavio

LONDON–(BUSINESS WIRE)–#Research–The global
architectural coatings market is expected to grow at a CAGR of
more than 7% during the period 2018-2022, according to a new
market research study by Technavio.

The report presents a comprehensive research of the global architectural
coatings market by resin type, including acrylic resins-based
architectural coatings, alkyd resins-based architectural coatings, epoxy
resins-based architectural coatings, polyurethane resins-based
architectural coatings, and polyester resins-based architectural
coatings. The report also determines the geographic breakdown of the
market in terms of detailed analysis and impact, which includes key
geographies such as APAC, the Americas, and EMEA.

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Market driver: increasing demand for waterborne coatings

Waterborne coatings exhibit low toxicity and flammability because of
reduced emissions of VOC and HAP emissions. They have good heat,
excellent adhesion, and abrasion resistance. They aid in reducing the
overall cost when compared with solvent-borne coatings as there is less
or no requirement for additional additives, thinners, or hardeners.
These coatings are also known to have a long pot life, allowing the
preservation of waterborne coatings for future use. Additionally, in
cases where the solvent-borne coating reacts with the substrate,
waterborne coatings are the ideal choice. The maintenance of paint guns
used for waterborne coatings is trouble-free since water or water-based
solutions can be used for cleaning purposes.

According to a senior analyst at Technavio for specialty
chemicals research, “The manufacturers of paint are rapidly
shifting their focus on powder and waterborne low-VOC technologies
because of their increasing prominence and innovative opportunities.
This has broadened the scope for the developments of processes and
products in the field of sustainable coatings.”

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Market trend: introduction of fluoropolymer topcoats

The durability of commercial coatings is a vital challenge for vendors
in the market. Thus, vendors are focusing on the introduction of
products for commercial applications such as facades. Fluoropolymer
topcoats provide an extended service life of 15-30 years as compared
with that of polyurethane coatings (5-10 years). Fluoropolymer facade
coatings demonstrate superior mechanical properties and weather
resistance. There has been continual innovation in this technology as
vendors have increased their expenditure on R&D to develop
high-performance coatings. The increase in the preference for
fluoropolymer topcoats is expected to influence the market growth
positively during the forecast period.

Market challenge: fluctuation in the prices of crude oil

The cost of paints and coating products depends on the fluctuation in
the prices of crude oil that was at an 11-year low in 2016. The price of
benzene in the Asian markets dropped sharply because of the weak demand.
The volatility in the prices of crude oil is expected to lead to
fundamental changes in the demand and supply dynamics in the global
paints and coatings market. The oversupply of oil has led to a
supply-demand imbalance that translated to the low price of oil.

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