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Thailand Architectural Coatings Market Size

The Thailand Architectural Coatings Market is projected to experience growth over the forecast period, driven by the residential sector's demand, which significantly influences the market size. The market's expansion is further supported by the dominance of waterborne technology, attributed to stringent VOC regulations that restrict solventborne options. Additionally, acrylic resin holds a substantial share in the market, particularly in residential and commercial applications, contributing to the overall market dynamics.

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Market Size of thailand architectural coatings Industry

Thailand Architectural Coatings Market
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svg icon Study Period 2016 - 2028
svg icon Market Size (2024) USD 718.13 Million
svg icon Market Size (2028) USD 755.41 Million
svg icon Largest Share by Sub End User Residential
svg icon CAGR (2024 - 2028) 1.27 %
svg icon Fastest Growing by Sub End User Residential

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

Key Players

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Thailand Architectural Coatings Market Analysis

The Thailand Architectural Coatings Market size is estimated at USD 718.13 million in 2024, and is expected to reach USD 755.41 million by 2028, growing at a CAGR of 1.27% during the forecast period (2024-2028).

  • Largest Segment by End-user - Residential : Compared to commercial floor area, Thailand 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 Thailand has a set framework of 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. The percentage share of acrylic in both residential and commercial paints and coatings consumption is estimated to be around 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 Thailand Architectural Coatings Market according to our research experts:

Residential is the largest segment by Sub End User.

  • The growth rate of architectural coatings in Thailand has been observing decline in growth rates since 2016, the country observed the sharpest decline in total coatings consumption in 2020, as commercial sector declined. Though total growth registered in 2020 was not so drastic due to sales increase from the DIY segment, influenced by COVID enhanced home improvement activity.
  • The regions residential sector held the highest share, which hoovers around 69%. This has enabled the total architectural paint and coatings consumption to witness a CAGR of -0.14% in the period 2016-2021, even as commercial sector observed drastic negative growth rate years in the said period.
  • The commercial sector's share in the region of Singapore, is expected to decrease during the forecast period, as the region is largely an agrarian economy with reliance on imports. Hence housing or residential sector takes the center stage, the overall architectural paints and coatings market is expected to continue at CAGR of 0.85% between the period 2022-2028.
Thailand Architectural Coatings Market

Thailand 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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Thailand Architectural Coatings Market Size Summary

The Thailand Architectural Coatings Market is experiencing a gradual growth trajectory, driven primarily by the residential sector, which accounts for the majority of architectural paint consumption. This trend is attributed to the larger volume of residential building floor area compared to commercial spaces. The market is characterized by a significant preference for waterborne technologies, largely due to stringent VOC regulations that limit the use of solventborne options. Acrylic resins dominate the market, particularly in residential and commercial applications, reflecting their widespread acceptance and usage. Despite a historical decline in growth rates since 2016, the market has shown resilience, with the DIY segment providing a boost during the pandemic as homeowners engaged in home improvement activities.

The market landscape in Thailand is moderately consolidated, with a few key players holding a substantial share. Companies such as AkzoNobel N.V., Guangdong Maydos Building Materials Limited Company, Jotun, Nippon Paint Holdings Co., Ltd., and TOA Paint Public Company Limited are prominent in the industry. These companies continue to innovate, as seen in recent product launches like Nippon Paint Holdings Co., Ltd.'s Weatherbond and Air Care Paint, which incorporate advanced technologies to enhance performance and safety. The market's future growth is expected to be steady, with a focus on residential applications, as the commercial sector's influence diminishes in line with the country's agrarian economic structure and reliance on imports.

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Thailand 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

Thailand Architectural Coatings Market Size FAQs

The Thailand Architectural Coatings Market size is expected to reach USD 718.13 million in 2024 and grow at a CAGR of 1.27% to reach USD 755.41 million by 2028.

In 2024, the Thailand Architectural Coatings Market size is expected to reach USD 718.13 million.

Thailand Architectural Coatings Report Snapshots

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