MEXICO ARCHITECTURAL COATINGS MARKET - SIZE, SHARE, COVID-19 IMPACT & FORECASTS UP TO 2028

 The architectural coatings market in Mexico is anticipated to grow at a CAGR of 3.39%. Until it increased again in 2020, the growth rate of architectural coatings had been in decline since 2016. Due to customers spending more time at home and finishing DIY projects, the DIY segment had enormous sales growth in 2020, which contributed to the expansion. One of the main factors driving the market demand is the ageing home stock, which has an average age of 41 years in 2019 compared to about 31 years in 2001.

The residential sector in the nation held the largest share, at roughly 78–79%. However, this pattern abruptly altered in 2020 as a result of a significant rise in the demand for residential painting concurrent with a sharp fall in the business sector, which resulted in a commercial sector share of less than 17.4%.

Although the commercial sector's share is anticipated to increase over the course of the projected period, the prolonged demand in the residential market may prevent it from quickly returning to pre-pandemic levels.

Major Players: Benjamin Moore & Co., Masco Corporation, PPG Industries, Inc., RPM International Inc. and The Sherwin-Williams Company


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