The market of Architectural coatings is projected to grow from USD 65.0 billion in 2018 to USD 82.4 billion by 2023, at a CAGR of 4.9%, during the forecast period. The global architectural coatings market is witnessing high growth on account of increasing applications, technological advancements, and the growing demand in APAC. The economic growth in developing countries, increasing investment in infrastructure, stringent environmental regulations, growing purchasing power, and the rising demand for green and environmentally friendly coatings are also leading to the growth of the market.

Functional architectural coatings are defined as those with some other special functions such as waterproof, fireproof, mildew-proof, thermal insulation and sound insulation besides the decorative function of ordinary architectural coatings. They are also called special coatings.

Architectural functional coatings are required to have good alkali resistance, water resistance, good bonding strength to cement surface layers or wood materials, certain decorative function and some special performances, convenient construction and repair as well as maintenance and easy recoating. Commonly-used functional architectural coatings include waterproof coating, fireproof coating, mildew-proof coating and anti-corrosive coating etc.