Albany, NY -- (SBWIRE) -- 07/07/2014 -- Architectural paint is employed in various infrastructure applications such as tanks, storage, wall, windows and roof among others. On the basis of application, architectural paints can be divided into two major segments namely, interior and exterior applications. Interior applications dominate the global demand for architectural paint and the trend is expected to continue in the near future.
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Growing construction industry has been a major driver for market growth. Growing disposable income and increased industrial investments are among the major factors driving growth for the architectural paint market. Organic architectural paints are expected to drive the industry in the near future. Several architectural paint products are hazardous to the environment and human health which has led to stringent government regulations and are amongst the major factors restraining market growth. Emerging geographical segments in the RoW region is expected to offer huge growth opportunity for the industry.
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North America dominates the global architectural paint market in terms of consumption and the trend in expected to continue in the near future. The demand for architectural paints in North America is primarily driven by the residential construction market. Europe accounts for the second largest market for architectural paint. The demand for architectural paints is expected to grow at a sluggish rate in North America and Europe owing to market maturity and stringent environmental regulations. Asia Pacific is expected to be the fastest growing region during the forecast period owing to high economic growth rate and increasing disposable income in the developing economies of India and China. South America and Middle East are expected to drive the demand in the RoW region during the forecast period.
Some of the market players in this industry segment include Akzo Nobel, Kansai Paint, BASF, Axalta, DuPont and Valspar among others.
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