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Vietnam Architectural Coatings Market Size

The Vietnam Architectural Coatings Market is experiencing growth driven by various segments, with the residential sector leading due to increased urbanization and housing development in major cities. The market's expansion is further supported by the dominance of waterborne technology, as Vietnam shifts towards low VOC emission coatings. Additionally, acrylic resin remains the preferred choice for exterior house coatings, contributing to the overall market size.

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Market Size of vietnam architectural coatings Industry

Vietnam Architectural Coatings Market
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svg icon Study Period 2016 - 2028
svg icon Market Size (2024) USD 442.71 Million
svg icon Market Size (2028) USD 514.87 Million
svg icon Largest Share by Sub End User Residential
svg icon CAGR (2024 - 2028) 3.85 %
svg icon Fastest Growing by Sub End User Residential
svg icon Market Concentration High

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

Key Players

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Vietnam Architectural Coatings Market Analysis

The Vietnam Architectural Coatings Market size is estimated at USD 442.71 million in 2024, and is expected to reach USD 514.87 million by 2028, growing at a CAGR of 3.85% during the forecast period (2024-2028).

  • Largest Segment by End-user - Residential : The residential segment dominates the architectural coating consumption due to the rapid ris in urbanization rate and the strong growth of housing in city like Ho Chi Minh City.
  • Largest Segment by Technology - Waterborne : The waterbone coating consumption dominated the market as the country is moving towards the low VOC emission coatings by reducing the lead content from 600 ppm to 90 ppm in 2020.
  • Largest Segment by Resin - Acrylic : The acrylic coating has dominated the architectural coating consumption as the country has its houses coated with acrylic coating on the outer surface of the houses.
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 Vietnam Architectural Coatings Market according to our research experts:

Residential is the largest segment by Sub End User.

  • The architectural coatings is one of the major shareholder of around 70% of the total paints and coatings market with residential coating accounting for 66.11% by volume in 2021. The consumption peaked in 2016 and 2017 due to the significant rise in the construction work especially in 聽Ho Chi Minh City were larges scale of housing construction was observed in 2016.
  • The decline of -3.47% in architectural coating consumption was seen in 2020 due to covid-19 and lower new completions in both residential and commercial sector. This trend was followed by only a slight recovery in the consumption in 2021 due to resurgence of 2nd wave of covid-19 in the country. The significant growth in 2022 due to the normalizing covid-19 scenario and positive developments in the housing starts and commercial constructions.
  • The increase in consumption and sales is expected to grow at a significant rate in the forecasted period due to the rising population in the country and continuous rise in the urbanization which leads to the strong consumption of coatings from urban areas. For instance, According to the world bank, Vietnam鈥檚 urbanization rate increased by 7% during the period of 2010-20.
Vietnam Architectural Coatings Market

Vietnam 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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Vietnam Architectural Coatings Market Size Summary

The Vietnam Architectural Coatings Market is experiencing a steady growth trajectory, driven by increasing urbanization and a burgeoning housing sector, particularly in cities like Ho Chi Minh City. The market is characterized by a significant demand for residential coatings, which dominate the consumption due to the rapid urban development. Waterborne coatings are the preferred technology, aligning with the country's shift towards low VOC emission solutions. Acrylic resins are predominantly used, reflecting the local preference for exterior house coatings. Architectural coatings hold a substantial share of the overall paints and coatings market, with residential coatings accounting for a significant portion of the volume. The market faced a decline in consumption during the pandemic, but has since rebounded, supported by the normalization of COVID-19 conditions and positive trends in housing and commercial construction.

The market landscape is fragmented, with major players such as Guangdong Maydos Building Materials Limited Company, Jotun, KOVA Paint, Nippon Paint Holdings Co., Ltd., and OSEVEN CORPORATION holding a combined share. These companies are actively expanding their operations and product offerings to capture a larger market share. For instance, KOVA Paint has enhanced its production capabilities with a new factory, while other companies have introduced programs to ensure product reliability and customer satisfaction. The anticipated growth in the market is underpinned by the continuous rise in population and urbanization, which is expected to sustain the demand for architectural coatings in the coming years.

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Vietnam 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

Vietnam Architectural Coatings Market Size FAQs

The Vietnam Architectural Coatings Market size is expected to reach USD 442.71 million in 2024 and grow at a CAGR of 3.85% to reach USD 514.87 million by 2028.

In 2024, the Vietnam Architectural Coatings Market size is expected to reach USD 442.71 million.

Vietnam Architectural Coatings Report Snapshots

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

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