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Vietnam Architectural Coatings Market Size, Share, Growth: By Resin: Acrylic, Alkyd, Epoxy, Polyester, Polyurethane, Others; By Technology: Water-borne, Solvent-borne; By Application: Residential, Non-Residential; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis; Competitive Landscape; 2024-2032
Vietnam Architectural Coatings Market Size
The Vietnam architectural coatings market reached approximately USD 436.78 million in 2023. The market is projected to grow at a CAGR of 4.30 % between 2024 and 2032, reaching a value of around USD 638.96 million by 2032.
Vietnam Architectural Coatings Market Outlook
- Vietnam introduced a new Construction Industry Development Strategy in February 2024 for the year 2030 to 2045 under which it aims to double the urban housing rates by 2030 and construct 1,000,000 housing units exclusively for low-income people, which can fuel the demand for paints and coatings.
- Nippon Paint Marine announced in December 2023 that it is expanding its coatings manufacturing operations in Vietnam to meet the growing demand for its marine coatings, in response to the Vietnamese government's investment in the shipbuilding sector.
- The emergence of architectural coatings with UV and corrosion resistance is a growing trend in the market.
Vietnam Architectural Coatings Market Growth
The rise of infrastructural projects in Vietnam, increased demand for low-VOC (Volatile Organic Compounds) coatings, and the growth of innovative coatings are some of the influential market drivers. Innovations such as self-cleaning coatings, UV-resistant coatings, and nanotechnology-based coatings are becoming increasingly popular as they enhance durability, reduce maintenance costs, and cater to specific customer needs.
Homeowners and small-scale contractors are increasingly choosing to use DIY coatings because of the wide range of DIY products available, online tutorials, and a desire to save money. Furthermore, the demand for personalised and aesthetically appealing coatings is increasing among Vietnamese customers due to a high demand for textured finishes and a wider range of colour options.
Vietnam Architectural Coatings Industry Segmentation
“Vietnam Architectural Coatings Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:
Market Breakup by Resin
- Acrylic
- Alkyd
- Epoxy
- Polyester
- Polyurethane
- Others
Market Breakup by Technology
- Solvent borne
- Water borne
Market Breakup by Application
- Residential
- Non-Residential
Market Breakup by Region
- Southeast
- Red River Delta
- Mekong River Delta
- South Central Coast
- Others
Vietnam Architectural Coatings Market Share
Based on application, the market is divided into residential and non-residential. The residential sector holds a major market share owing to the rise of renovation projects and new residential housing, growing investments by homeowners in enhancing the visual appeal of their homes, and supportive government initiatives which promote urban affordable housing. This initiative not only benefits developers and contractors but also provides much-needed housing options for low and middle-income families.
Leading Companies in the Vietnam Architectural Coatings Market
The market players are expanding their product lines to include a wide range of textures, finishes, and colours in their coatings.
- BASF SE
- Nippon Paint Holdings Co. Ltd.
- Jotun A/S
- Kansai Paint Co., Ltd.
- KOVA Paint Co., Ltd.
- TOA Paint (Thailand) Public Company Limited
- Others
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Resin |
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| Breakup by Technology |
|
| Breakup by Application |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 Asia Pacific Architectural Coatings Market Overview
8.1 Key Industry Highlights
8.2 Asia Pacific Architectural Coatings Historical Market (2018-2023)
8.3 Asia Pacific Architectural Coatings Market Forecast (2024-2032)
9 Vietnam Architectural Coatings Market Overview
9.1 Key Industry Highlights
9.2 Vietnam Architectural Coatings Historical Market (2018-2023)
9.3 Vietnam Architectural Coatings Market Forecast (2024-2032)
10 Vietnam Architectural Coatings Market by Resin
10.1 Acrylic
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Alkyd
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 Epoxy
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Polyester
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Polyurethane
10.5.1 Historical Trend (2018-2023)
10.5.2 Forecast Trend (2024-2032)
10.6 Others
11 Vietnam Architectural Coatings Market by Technology
11.1 Water-borne
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Solvent-borne
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
12 Vietnam Architectural Coatings Market by Application
12.1 Residential
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Non-Residential
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
13 Vietnam Architectural Coatings Market by Region
13.1 Southeast
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 Red River Delta
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Mekong River Delta
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Central Coast
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 BASF SE
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Nippon Paint Holdings Co. Ltd.
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 Jotun A/S
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Kansai Paint Co., Ltd.
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 KOVA Paint Co., Ltd.
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 TOA Paint (Thailand) Public Company Limited
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Asia Pacific Architectural Coatings Market: Key Industry Highlights, 2018 and 2032
2. Vietnam Architectural Coatings Market: Key Industry Highlights, 2018 and 2032
3. Vietnam Architectural Coatings Historical Market: Breakup by Resin (USD Million), 2018-2023
4. Vietnam Architectural Coatings Market Forecast: Breakup by Resin (USD Million), 2024-2032
5. Vietnam Architectural Coatings Historical Market: Breakup by Technology (USD Million), 2018-2023
6. Vietnam Architectural Coatings Market Forecast: Breakup by Technology (USD Million), 2024-2032
7. Vietnam Architectural Coatings Historical Market: Breakup by Application (USD Million), 2018-2023
8. Vietnam Architectural Coatings Market Forecast: Breakup by Application (USD Million), 2024-2032
9. Vietnam Architectural Coatings Historical Market: Breakup by Region (USD Million), 2018-2023
10. Vietnam Architectural Coatings Market Forecast: Breakup by Region (USD Million), 2024-2032
11. Vietnam Architectural Coatings Market Structure
Key Questions Answered in the Report
In 2023, the market reached an approximate value of USD 436.78 million.
The market is estimated to grow at a CAGR of 4.30% between 2024 and 2032.
The Vietnam architectural coatings market is estimated to witness a healthy growth during 2024-2032 to reach around USD 638.96 million by 2032.
The market is being driven due to rise of infrastructural projects in Vietnam, increased demand for low-VOC (Volatile Organic Compounds) coatings, and the growth of innovative coatings.
The key trends aiding the Vietnam architectural coatings market include the burgeoning popularity of DIY coatings, demand for personalised and aesthetically appealing coatings, and the growth of sustainable coatings.
Regions considered in the market are Southeast, Red River Delta, Mekong River Delta, and South Central Coast, among others.
Based on technology, market segmentations include solvent borne and water borne.
Various applications are residential and non-residential.
The major players in the market are BASF SE, Nippon Paint Holdings Co. Ltd., Jotun A/S, Kansai Paint Co., Ltd., KOVA Paint Co., Ltd., and TOA Paint (Thailand) Public Company Limited, among others.
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