The global stain resistant coatings market is projected to witness impressive growth, while recovering at quite a rapid pace from the temporary setbacks suffered in 2020. Despite sluggish growth during the deadly COVID-19 outbreak, the architectural and textile sectors are in the recovery phase. They are also creating a new scope for stain resistant coatings manufacturers. The latest report by an ESOMAR-certified market research and consulting firm predicts the progressive growth of key end-use industries of stain resistant coatings through 2031. The detailed analysis also incorporates the latest trends and shifted patterns of demand-supply due to the aftereffects of the pandemic.
According to the report, environmental concerns over fluoropolymers in the architecture and textiles industry will be key driving factors boosting the sales of non-fluoropolymer-based stain resistant coatings, while industrial players in the countries such as China, Germany, and the United States, to name a few, will exhibit heightened activities in this field. With initiation of vaccination drives, stakeholders are optimistic in leveraging new opportunities, mostly in Asia Pacific, followed by Europe. Overall outlook will remain positive with the gradual recovery of the end-use industries, with the market projected to expand at a healthy CAGR of around 7% through 2031.
Key Takeaways from Study
- Water-based stain resistant coatings to exhibit fastest growth
- Rise in demand for PTFE stain resistant coatings to be witnessed
- Surge in demand from architectural industry to fuel sales
- China to lead in the world’s largest market for stain resistant coatings – Asia Pacific
- Germany to remain at the forefront of Europe
- The United States to maintain its lead in North America
The United Kingdom, Canada, Japan, France, Italy, and a few other countries to maintain positive market outlooks
“With high requirement from the architecture and textiles industry, manufacturers are focusing on developing a wide variety of PTFE, ETFE, and PVDF stain resistant coatings in order to increase their sales footprint, which, in turn, is making the competition even fiercer in this industry,” says an analyst.
Rapid Traction of Architectural Coatings to Fuel Sales
The architecture industry has huge requirement for waterproof coatings, which are resistant to stains, abrasion, atmospheric dust, and UV fading. As a result, demand for stain resistant coatings from this sector is gaining momentum gradually.
Though the global architectural industry declined temporarily during 2020, it’s getting back to its feet steadily. The projections indicate a significant growth in the near future. This growth will pave new paths for players in the stain resistant coatings marketplace.
Who is winning in this space?
The global stain resistant coatings market is highly competitive in nature. In order to sail through the fierce competition, key market players are focusing on the quality of their products while launching products more frequently.
- 3M Company launched its new extensive range of products. These products include 3M Stain Resistant Additive and Sealer SRA-451, 3M Stain Resistant Additive and Sealer SRC-220, and others during the last 5 years.
- Akzo Nobel N.V. launched its new Scuff Resistant Delux EasyCare+ in 2020.