Latin America Architectural Coatings Market Report and Forecast 2024-2032

Latin America Architectural Coatings Market Report and Forecast 2024-2032

Market Outlook

According to the report by Expert Market Research (EMR), the Latin America architectural coatings market is projected to grow at a CAGR of 1.65% between 2024 and 2032 reaching a value of approximate USD 11.9 billion by 2032. Aided by the steady progression of urbanisation and the increasing emphasis on aesthetic and structural sustainability, the market is expected to grow significantly by 2028.

Architectural coatings are materials applied to surfaces, primarily to serve protective, functional, and aesthetic purposes. These coatings are pivotal in safeguarding buildings and structures from environmental factors, UV radiation, and corrosive atmospheres. Apart from protection, they also offer an enhanced aesthetic appeal, providing various finishes such as matte, gloss, and satin. In the context of Latin America, architectural coatings have been an integral part of the regional building and construction paradigm, given the area's rich architectural history and evolving modern designs.

The surging urbanisation and increased infrastructure investments in Latin American countries are significant factors propelling the Latin America architectural coatings market demand. Rapid urban growth, especially in countries like Brazil, Argentina, and Mexico, has spurred a demand for new residential and commercial constructions. With an increasing number of projects, there is an amplified need for architectural coatings to protect and beautify these structures.

Furthermore, the growing awareness and adoption of green construction practices in the region are also boosting the demand for eco-friendly architectural coatings and contributing to the Latin America architectural coatings market growth. As global environmental concerns become more pressing, Latin American builders and contractors are looking for sustainable options, which, in turn, is driving innovations in the architectural coatings industry. Manufacturers are now leaning towards producing coatings that are low in volatile organic compounds (VOCs) and have minimal environmental impact.

The tourism sector, too, plays a pivotal role in driving the architectural coatings market in Latin America. As per the Latin America architectural coatings market analysis, with countries like Brazil, Mexico, and Argentina being major tourist destinations, the need to maintain and refurbish historical sites and hotels is continual. Architectural coatings are regularly used in such restoration projects to ensure longevity while preserving aesthetic values.

Moreover, Latin America's diverse climate, ranging from tropical rainforests to dry deserts, necessitates the use of specialised coatings tailored to varied environmental conditions and further increases the value of the Latin America architectural coatings market size.

Market Segmentation

The market can be divided based on resin type, technology, application, end use, and country.

Market Breakup by Resin Type

• Acrylic
• Alkyd
• Polyurethane
• Epoxy
• Polyester
• Others

Market Breakup by Technology

• Water-Borne
• Solvent-Borne
• Powder Coating

Market Breakup by Application

• Professional
• DIY

Market Breakup by End Use

• Residential
• Commercial
• Industrial
• Infrastructure

Market Breakup by Country

• Brazil
• Mexico
• Argentina
• Colombia
• Chile
• Others

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the Latin America architectural coatings market. Some of the major players explored in the report by Expert Market Research are as follows:

• 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.
• WEG Group
• Others

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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.