Chile Architectural Coatings Market - Forecast(2024 - 2030)

The Chile Architectural Coatings market size is forecasted to reach US$2.04 billion by 2030, after growing at a CAGR of around 6.1% from 2024 to 2030. The architectural coatings are paints or coatings that are applied on the interior as well as exterior surfaces of industrial, residential and commercial spaces. The resins such as acrylic, alkyd, polyurethane, epoxy, urethane and others are utilized in the architectural coatings for application across various industries to offer protection and resistance from weather, chemical, heat and moisture. The high demand of Chile architectural coatings for application across major industries such as construction, marine and other is offering a major drive in the Chile architectural coatings market. Moreover, the inclination towards residential and commercial spaces renovation will offer major growth opportunities and contribute to the growing Chile architectural coatings market size during the forecast period.

Sustainability has emerged as a prominent trend, with increasing emphasis on eco-friendly formulations and application processes. Manufacturers are developing low-VOC (volatile organic compound) paints and coatings to meet environmental regulations and consumer demand for healthier indoor environments

Additionally, there's a growing focus on durability and weather resistance, especially in regions prone to seismic activity and extreme weather conditions. This trend is driving innovation in the development of coatings that offer long-lasting protection against UV radiation, moisture, and pollution, enhancing the lifespan of buildings and reducing maintenance costs over time. Moreover, digitalization is transforming the industry, with the adoption of technologies such as digital color matching systems and online platforms for product selection and customization, streamlining the purchasing process for both professionals and consumers.

The Chile Architectural Coating industry faced major disruption and slowdown during the outbreak. The architectural coatings have major application in the residential, commercial and industrial construction sector. The closure of construction sites and building projects, raw material price rise, logistics restrictions and other lockdown norms led to a major fall in the growth for Chile construction sector. The slowdown and major growth hamper in the building permits, workforce shortages and other disruptions limited the functioning of construction in Chile. The fall in growth in construction industry in Chile led to decline in the application of Chile architectural coatings, thereby faced slowdown and hamper in the pandemic. However, with recovery in residential as well as commercial sector, the Chile architectural coatings industry has grown rapidly in 2023 and will continue to do so in the coming years.

The “Chile Architectural Coatings Market Report– Forecast (2024-2030)” by IndustryARC covers an in-depth analysis of the following segments in the Chile Architectural Coatings industry.

By Resin: Acrylics, Epoxy, Polyester, Alkyd, Vinyl Acrylate and Others

By Substrate: Ceramic, Metal, Wood, Plastic, Concrete and Others

By Type: Organic and Inorganic

By Technology: Water-Based, Solvent-Based, Powder-Based and Others

By Application: Facades, Floor, Pavements, Ceiling, Bridges and Others

By End-Use Industry: Commercial (Hospitals, Airports, Office Buildings and Other), Industrial (Manufacturing Plants, Factories and Other) and Residential (Bathroom Fixtures, Home Ceilings, Roofing and Others)

• The Chile Architectural Coatings market size will increase owing to its rising application in commercial, residential and industrial construction sectors during the forecast period.

• The Chile region is moving towards high infrastructural development, renovation in building projects and others, thereby has growing application of architectural coatings during the forecast period.

• The demand of acrylic resin in Chile Architectural Coatings is high due to flourishing usage in buildings, roofing, ceiling, pavements and others.

By resin, the acrylic held the largest Chile Architectural Coatings market share in 2023 and is expected to grow with a CAGR of around 7.5% during the forecast period. The acrylic based architectural coatings offer superior features such as good adhesion, ultimate barrier, moisture resistance, corrosion resistance and fast drying, thereby has flourishing application in the residential and commercial construction sector. The high demand of acrylic resin based architectural coatings for roofing, floor, building walls, facades and others is offering major growth in the Chile architectural coatings market. Moreover, the increasing usage of acrylic resin for water-based coatings for interior and exterior construction application will create high demand in the market, as a result of which, the Chile architectural coatings market share will flourish rapidly over the forecast period.

By end-use industry, the residential segment held the largest Chile Architectural Coatings market share in 2023, with a share of over 42%. The Chile architectural coatings have growing application in residential construction industry such as roofing, ceilings, walls and others. These architectural coatings are composed of resins such as alkyd, acrylic, epoxy, urethane and others and coat the building from moisture, heat and other harsh environmental conditions. The rise in residential building and construction activities in Chile is propelling the growth for the Chile architectural coatings industry. According to the International Trade Administration, the construction sector in Chile is expected to grow by 3%-4% in the year 2022. Thus, with flourishing application in the construction sector and growth in decoration and renovation activities in residential buildings, the Chile architectural coatings industry will grow rapidly during the forecast period.

The stringent regulations by the government on the emission generated from volatile organic compounds (VOC) products in architectural coatings is influencing the demand for low or zero VOC coatings. The water based architectural coatings have low VOC and provide reduction in the environment emission. For instance, as per CCAC, the revised nationally determined contribution commits to reduce the carbon emission by 25% by the year 2030 in Chile. Thus, with major demand for low VOC water based architectural coatings for application across various industries; the Chile architectural coatings industry is experiencing major drive and growth opportunities.

The construction sector in Chile is flourishing rapidly. The construction of hospitals, residential buildings, commercial spaces and other projects are growing. The Chile architectural coatings have growing application in the residential as well as commercial infrastructure and building such as coatings in wall, roofing, facades, bridges, pavements and others. The renovation and infrastructure development, along with construction of heritage sites in Chile is propelling the growth of Chile architectural coatings. The World Bank reports that the value added by construction and other industries in Chile was 31.97% of GDP in 2022. Thus, with rise in construction activities for residential buildings, home and other commercial spaces, the Chile architectural coatings industry is growing rapidly.

The Chile Architectural Coatings industry faces major challenge due to stringent regulations by government on the emission by volatile organic compounds product in the coatings. Moreover, various coating resins are derived from crude oil such as polyurethane, alkyd, polyester powder and others. The rise in crude oil prices and volatility in this sector creates a major hamper in the production and overall costs of architectural coating resins. Thus, the instability in crude prices and emission concerns from various architectural coatings, the Chile architectural coatings industry faces challenge and slowdown.

Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Chile Architectural Coatings market. The top 10 companies in the Chile Architectural Coatings Market include:

1. BASF SE

2. Pinter Peru SAC

3. Pinturas Ceresita Ltda.

4. Grupo Codelpa Colores Del Pacifico

5. Brescia (Pinturas Tricolor)

6. The Sherwin Williams Company

7. Pinturas Blatem

8. Chilcorrofin

9. AkzoNobel Group (Pinturas Alba)

10. PPG Architectural Coatings

• In May 2022, the PPG Industries Inc. announced the opening of architectural paint and coatings color automation laboratory in Italy, aiming to strengthen the coatings business.

• In February 2022, the PPG Industries expands the coating business by acquiring the powder coating business of Arsonsisi, a leading provider of both architectural and industrial coatings business, thereby boosting sales and growth in the market.