Market Size of canada architectural coatings Industry
| Icons | Lable | Value |
|---|---|---|
|
Study Period | 2016 - 2028 |
|
Market Size (2024) | USD 1.50 Billion |
|
|
Market Size (2028) | USD 1.77 Billion |
|
Largest Share by Sub End User | Residential |
|
|
CAGR (2024 - 2028) | 4.22 % |
|
|
Fastest Growing by Sub End User | Residential |
Major Players |
||
|
||
|
*Disclaimer: Major Players sorted in no particular order |
Canada Architectural Coatings Market Analysis
The Canada Architectural Coatings Market size is estimated at USD 1.5 billion in 2024, and is expected to reach USD 1.77 billion by 2028, growing at a CAGR of 4.22% during the forecast period (2024-2028).
- Largest Segment by End-user - Residential : In Canada, a steady rise in the number of immigrants requiring residential buildings has increased the consumption of architectural paints in the residential sector.
- Largest Segment by Technology - Waterborne : The strict VOC regulations in the country and the rising preference for LEED-certified buildings have increased the demand for low-VOC, eco-friendly, waterborne coatings.
- Largest Segment by Resin - Acrylic : The lower price of acrylic coatings and their lower VOC emission levels, as compared to other resin-based coatings, have increased their consumption levels in Canada.
This section covers the major market trends shaping the Canada Architectural Coatings Market according to our research experts:
Residential is the largest segment by Sub End User.
- The growth rate of architectural coatings declined since 2016 before bouncing back in 2020 due to a huge sales increase in the DIY segment. The Canadian government designated paints and coatings as an essential service under Public Safety Canada, which helped maintain retail paint sales and ensured the resumption of paint manufacturing.
- The residential sector held a dominating share over the commercial sector due to the strong housing completion rates in the country. The demand in the residential segment was propelled by a drastic increase in the repaint demand in 2020.
- The commercial sector faced a huge decline in 2020 and recovered slightly in 2021 due to the increased investments in the latter half of 2021. The commercial segment's share is expected to recover gradually till 2023 before normalizing during the forecast period.
Understand The Key Trends Shaping This Market
Canada Architectural Coatings Industry Segmentation
Commercial, Residential are covered as segments by Sub End User. Solventborne, Waterborne are covered as segments by Technology. Acrylic, Alkyd, Epoxy, Polyester, Polyurethane are covered as segments by Resin.
| Sub End User | |
| Commercial | |
| Residential |
| Technology | |
| Solventborne | |
| Waterborne |
| Resin | |
| Acrylic | |
| Alkyd | |
| Epoxy | |
| Polyester | |
| Polyurethane | |
| Other Resin Types |
Need A Different Region Or Segment?
Canada Architectural Coatings Market Size Summary
The Canada Architectural Coatings Market is experiencing a positive growth trajectory, driven by various factors such as increasing residential construction and a shift towards eco-friendly products. The residential sector is the largest end-user, benefiting from a rise in immigration and the subsequent demand for housing. This has led to a higher consumption of architectural paints, particularly in the residential segment. The market is also witnessing a growing preference for waterborne coatings, attributed to stringent VOC regulations and the demand for LEED-certified buildings. Acrylic resins are favored due to their cost-effectiveness and lower VOC emissions, further boosting their market presence. The market's growth was initially hindered but saw a resurgence in 2020, largely due to a surge in DIY activities. The Canadian government's classification of paints and coatings as essential services helped sustain retail sales and resume manufacturing operations.
The market landscape is fairly consolidated, with a few key players dominating the scene. Companies like Cloverdale Paint Inc., Masco Corporation, PPG Industries, Inc., RPM International Inc., and The Sherwin-Williams Company hold significant market shares. The commercial sector, which faced challenges in 2020, is gradually recovering, supported by increased investments. The residential sector continues to hold a dominant position, driven by high housing completion rates and increased repaint demand. Strategic partnerships and product innovations, such as PPG's expanded relationship with The Home Depot and the introduction of new powder coatings, are shaping the competitive dynamics of the market. Overall, the Canada Architectural Coatings Market is poised for steady growth, with a focus on sustainable and innovative solutions.
Canada Architectural Coatings Market Size - Table of Contents
-
1. MARKET SEGMENTATION
-
1.1 Sub End User
-
1.1.1 Commercial
-
1.1.2 Residential
-
-
1.2 Technology
-
1.2.1 Solventborne
-
1.2.2 Waterborne
-
-
1.3 Resin
-
1.3.1 Acrylic
-
1.3.2 Alkyd
-
1.3.3 Epoxy
-
1.3.4 Polyester
-
1.3.5 Polyurethane
-
1.3.6 Other Resin Types
-
-
Canada Architectural Coatings Market Size FAQs
How big is the Canada Architectural Coatings Market?
The Canada Architectural Coatings Market size is expected to reach USD 1.50 billion in 2024 and grow at a CAGR of 4.22% to reach USD 1.77 billion by 2028.
What is the current Canada Architectural Coatings Market size?
In 2024, the Canada Architectural Coatings Market size is expected to reach USD 1.50 billion.
