Market Trends of australia architectural coatings Industry
This section covers the major market trends shaping the Australia Architectural Coatings Market according to our research experts:
Residential is the largest segment by Sub End User.
- The growth rate of architectural coatings in Australia and New Zealand has been on volatile streak since 2016, in the same year commercial architectural paints and coatings consumption observed a 23% increase, while in the next year the segment observed a growth rate of -0.50%. The growth registered in 2020 is due to sales increase from the DIY segment, influenced by COVID enhanced home improvement activity.
- The regions residential sector held the highest share, which oscillates around 63.5%. This has enabled the total architectural paint and coatings consumption to witness a CAGR of 2.10% in the period 2016-2021, even though both residential and commercial sector has observed a few negative growth rate years in the said period.
- The commercial sector's share in the region of Australia and New Zealand, is expected to increase during the forecast period, as the region is attracting a lot of strategic corporate partnerships due to the QUAD alliance. This has affected the overall growth of the country, similarly, the overall architectural paints and coatings market is expected to continue at CAGR of 1.34% between the period 2022-2028
Understand The Key Trends Shaping This Market
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