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Singapore Architectural Coatings Market Size

The Singapore Architectural Coatings Market is projected to experience growth over the forecast period, driven by the residential sector's demand for architectural paints. The market's expansion is influenced by stringent VOC regulations, which favor the use of waterborne technologies over solventborne options. Additionally, acrylic resin is anticipated to dominate the market, with its share expected to surpass a significant threshold by the end of the forecast period.

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Market Size of singapore architectural coatings Industry

Singapore Architectural Coatings Market
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svg icon Study Period 2016 - 2028
svg icon Market Size (2024) USD 155.85 Million
svg icon Market Size (2028) USD 169.85 Million
svg icon Largest Share by Sub End User Residential
svg icon CAGR (2024 - 2028) 2.17 %
svg icon Fastest Growing by Sub End User Commercial

Major Players
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*Disclaimer: Major Players sorted in no particular order

Key Players

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Singapore Architectural Coatings Market Analysis

The Singapore Architectural Coatings Market size is estimated at USD 155.85 million in 2024, and is expected to reach USD 169.85 million by 2028, growing at a CAGR of 2.17% during the forecast period (2024-2028).

  • Largest Segment by End-user - Residential : Compared to commercial floor area, Singapore has been observing higher volume of residential building floor area resulting in high architectural paint consumption from the residential sector.
  • Largest Segment by Technology - Waterborne : The country of Singapore has strict VOC requirements, the share of waterborne is largest as the VOC regulations play a vital role to limit the usage of Solventborne segment in the country.
  • Largest Segment by Resin - Acrylic : Acrylic is a leading type of resin in Singapore. Further, the percentage share of acrylic is expected to cross 50% mark by the end of 2028.
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.

This section covers the major market trends shaping the Singapore Architectural Coatings Market according to our research experts:

Residential is the largest segment by Sub End User.

  • Compared to commercial floor area, Singapore has been observing higher volume of residential building floor area resulting in high architectural paint consumption from the residential sector.
Singapore Architectural Coatings Market

Singapore 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
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Singapore Architectural Coatings Market Size Summary

The Singapore Architectural Coatings Market is characterized by a steady growth trajectory, driven by the robust demand in the residential sector. This demand is primarily attributed to the higher volume of residential building floor area compared to commercial spaces, leading to increased consumption of architectural paints. The market is dominated by waterborne technology, largely due to Singapore's stringent VOC regulations, which restrict the use of solventborne coatings. Acrylic resins are the most prevalent in the market, with expectations of their share surpassing the fifty percent mark by the end of the forecast period. This preference for acrylics underscores the industry's alignment with environmental standards and performance requirements.

The market landscape in Singapore is fairly consolidated, with a few key players holding a significant share. Companies such as AkzoNobel N.V., Jotun, Kansai Paint Co., Ltd., Nippon Paint Holdings Co., Ltd., and Seamaster Paint (Singapore) Pte Ltd are at the forefront, collectively accounting for a substantial portion of the market. The competitive dynamics were further shaped by strategic moves like the acquisition of Berger Paints Singapore by Omega Industries in 2019, highlighting ongoing consolidation trends within the industry. This consolidation reflects the market's focus on leveraging scale and expertise to meet the evolving demands of the architectural coatings sector in Singapore.

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Singapore Architectural Coatings Market Size - Table of Contents

  1. 1. MARKET SEGMENTATION

    1. 1.1 Sub End User

      1. 1.1.1 Commercial

      2. 1.1.2 Residential

    2. 1.2 Technology

      1. 1.2.1 Solventborne

      2. 1.2.2 Waterborne

    3. 1.3 Resin

      1. 1.3.1 Acrylic

      2. 1.3.2 Alkyd

      3. 1.3.3 Epoxy

      4. 1.3.4 Polyester

      5. 1.3.5 Polyurethane

      6. 1.3.6 Other Resin Types

Singapore Architectural Coatings Market Size FAQs

The Singapore Architectural Coatings Market size is expected to reach USD 155.85 million in 2024 and grow at a CAGR of 2.17% to reach USD 169.85 million by 2028.

In 2024, the Singapore Architectural Coatings Market size is expected to reach USD 155.85 million.

Singapore Architectural Coatings Report Snapshots

Singapore Architectural Coatings Market SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS UP TO 2028