Interior Architectural Coatings Market Estimated to Exceed USD 57.8 Billion Globally By 2024: IMARC Group
The latest report by IMARC Group, titled “Interior Architectural Coatings Market Report: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, finds that the interior architectural coatings market to reached a value of US$ 39.8 Billion in 2018. Interior architectural coatings are designed to protect the surface of an interior wall from water spotting and staining. With a rise in the income levels, consumers are spending more on remodeling and improving the aesthetics of their homes. As a result, the manufacturers are developing premium-quality and specialty paint and wood stain products. In recent years, waterborne coatings have also gained popularity across the globe as they produce low VOC emissions and are more cost-efficient as compared to their solvent-based counterparts.
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Interior Architectural Coatings Market Trends:
The changing lifestyles and rising standards of living have encouraged consumers to use premium quality products to beautify their homes. Besides this, due to increasing infrastructural projects in developing countries, there has been a rise in the manufacturing and imports of architectural coatings in these regions. Moreover, governments around the world are introducing strict regulations regarding the environmental impact of these coatings. In order to comply with the new guidelines, the manufacturers have developed products with low- and zero-VOC coalescent structure to provide which are eco-friendly, offer greater end user appeal and deliver high performance. Looking forward, the Interior architectural coatings market is projected to reach US$ 57.8 Billion by 2024, expanding at a CAGR of 6.4% during 2019-2024.
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