Market Size of malaysia architectural coatings Industry
Icons | Lable | Value |
---|---|---|
Study Period | 2016 - 2028 | |
Market Size (2024) | USD 513.09 Million | |
Market Size (2028) | USD 591.38 Million | |
Largest Share by Sub End User | Residential | |
CAGR (2024 - 2028) | 3.61 % | |
Fastest Growing by Sub End User | Commercial | |
Major Players |
||
*Disclaimer: Major Players sorted in no particular order |
Malaysia Architectural Coatings Market Analysis
The Malaysia Architectural Coatings Market size is estimated at USD 513.09 million in 2024, and is expected to reach USD 591.38 million by 2028, growing at a CAGR of 3.61% during the forecast period (2024-2028).
- Largest Segment by End-user - Residential : The residential sector dominated the architectural coating consumption due to the increase in purchasing parity and rapid growth in urbanization, which was 77.61% in 2021.
- Largest Segment by Technology - Waterborne : The waterborne coating dominates the market due to the inclining trend towards less VOC emission and the government planning for VOC regulation in forecasted period.
- Largest Segment by Resin - Acrylic : Acrylic is a leading type of resin due to its technological advantages, low VOC emissions in the architectural segment, and preference to coat the exterior wall of buildings.
This section covers the major market trends shaping the Malaysia Architectural Coatings Market according to our research experts:
Residential is the largest segment by Sub End User.
- The architectural coating consumption in Malaysia peaked in 2016 and 2017 amid strong addition of new housing stocks and improved housing conditions. The normalizing growth till 2019 due to the continuous rise in purchasing power parity and stagnant macroeconomic factors.
- The architectural coating consumption in Malaysia peaked in 2016 and 2017 amid strong addition of new housing stocks and improved housing conditions. The normalizing growth till 2019 due to the continuous rise in purchasing power parity and stagnant macroeconomic factors.
- The increase in consumption and sales is expected to grow at a significant rate in the forecasted period due to the rising population in the country and continuous rise in the urbanization which leads to the strong consumption of coatings from urban areas. For instance, According to the world bank, Malaysia currently has urbanization rate of 77.61 % in 2021.
Malaysia 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 |
Malaysia Architectural Coatings Market Size Summary
The Malaysia Architectural Coatings Market is experiencing a steady growth trajectory, driven by increasing urbanization and rising purchasing power. The residential sector is the largest end-user, reflecting the surge in urban development and improved housing conditions. Waterborne coatings are predominant in the market, favored for their low VOC emissions, aligning with government regulations aimed at reducing environmental impact. Acrylic resins lead the market due to their technological benefits and preference for exterior applications. The market saw peak consumption in previous years due to significant housing stock additions, but growth has normalized due to macroeconomic factors. However, the market is poised for expansion as urbanization continues to rise, fueling demand for architectural coatings.
The market landscape in Malaysia is moderately consolidated, with major players like AkzoNobel N.V., Jotun, Nippon Paint Holdings Co., Ltd., SKK(S) Pte. Ltd, and TOA Paint Public Company Limited holding significant market shares. These companies are actively expanding their portfolios and enhancing their market presence through strategic acquisitions and product guarantees. For instance, AkzoNobel's acquisition of CMI Construction Material Industry Sdn. Bhd. and the introduction of the Dulux Promise Guarantee program are indicative of efforts to diversify and strengthen their offerings. The focus on innovation and strategic growth initiatives positions these companies to capitalize on the anticipated market growth in the coming years.
Malaysia 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
-
-
Malaysia Architectural Coatings Market Size FAQs
How big is the Malaysia Architectural Coatings Market?
The Malaysia Architectural Coatings Market size is expected to reach USD 513.09 million in 2024 and grow at a CAGR of 3.61% to reach USD 591.38 million by 2028.
What is the current Malaysia Architectural Coatings Market size?
In 2024, the Malaysia Architectural Coatings Market size is expected to reach USD 513.09 million.