Decorative Coatings Market is valued at USD 72.30 Billion in 2021 and is expected to reach USD 102.41 Billion by 2028 with a CAGR of 5.1% over the forecast period.
Rising construction and renovation activities, increasing urbanization andgrowingproductinnovationindecorativecoatingaresomeofthe driving factors contributing to the growth of the Global Decorative Coatings Market.
Scope of Global Decorative Coatings Market Report-
Decorative coating is the type of paint or coating materials that are used or applied for the enhancement of the physical strength of the structure and aesthetic appeal of the surfaces they are applied to. Decorative coatings are useful for improving the aesthetic appearance of the construction. These coatings mainly include decorative and functional products like paints, stains, lacquers, primers, and cleaners. Also, these coatings are used as a colorant and protectant for metal, wooden, and concrete structures against chalking, bleaching, and general deterioration. It protects building from harsh climate effects and weather like as extreme temperature, UV radiation, insulation, acid rain, and foreign particles.
The Covid-19 outbreak has negatively affected the global decorative coatings market. During Covid-19, all construction activities stopped due to worldwide lockdown conditions and restrictions on transportation.Also,lackoflaborforceandashortageofrawmaterials the demand for the decorative coatings was declined.
Key Players for Global Decorative Coatings Market Report–
• Akzo Nobel NV
• Asian Paints Ltd.
• BASF SE
• Hempel AS
• Jotun AS
• Kansai Paint Co. Ltd.
• Masco Corp.
• PPG Industries Inc.
• RPM International Inc.
• The Sherwin-Williams Co
Global Decorative Coatings Market Segmentation:
By Product
• Primer
• Enamel
• Emulsions
• Others
By Technology
• Waterborne Coatings
• Solvent borne Coatings
By End-User
• Residential
• Commercial
• Others
By Resin Type
• Acrylic
• Alkyd
• Polyurethane
• Epoxy
• Polyester
• Others
Global Decorative Coatings Market Dynamics–
One of the major factors driving the growth of the global decorative coating market is increasing number of construction and renovation activities. The construction industry involves various activities, including alteration and repair of residential, non-residential, commercial, and infrastructural constructions.
However, the use of toxic chemicals in coating formulations may hampertheglobaldecorativecoatingsmarketgrowth.Inspiteofthat, increasing investments in the emerging markets can provide various opportunities for the further growth of the global decorative coatings market.
News:Hempel Completed the Acquisition of Iconic Paint and Wallpaper Brand, Farrow & Ball
On September 2nd, 2021; Hempel completed the acquisition with Farrow & Ball which is a luxury decorative paints and wallpaper company. This acquisition provides strength to the Hempel group. Also, 600 new colleagues are added to its workforce.
PPG to Acquired Tikkurila, a Leading Nordic Paint and Coatings Company
On December 18th, 2020; PPG announced that it has gone into a definitive agreement to acquire Tikkurila in an all-cash exchange. An organization is able to provide clients with considerably more paint and coatings choices by uniting Tikkurila's great and environmentally friendly decorative items and dispersion capacities in these nations with PPG's well-respected industrial and defensive coatings. Furthermore, the combination will give new cross-selling opportunities, learning experiences for employees, and product solutions for new fragments and clients.
Global Decorative Coatings Market Regional Analysis–
Geographically, Asia Pacific is the fastest growing region in the global decorative coatings market due to the rising urban population, and increasing demand for decorative coatings material in this region.
North America is expected to witness a significant growth in the global decorative coatings market due to rapid urbanization and increasing number of construction activities in this region. For example;according toWorld Bank,in 2020, intheUnitedStates, there was about 77.45 % population is living in an urban area.
On Special Requirement Decorative Coatings Market Report is also available for below region:
NorthAmerica
• U.S.
• Canada
Europe
• Germany
• France
• U.K.
• Italy
• Spain
• Sweden
• Netherland
• Turkey
• Switzerland
• Belgium
• Rest of Europe
Asia-Pacific
• South Korea
• Japan
• China
• India
• Australia
• Philippines
• Singapore
• Malaysia
• Thailand
• Indonesia
• Rest Of APAC
LatinAmerica
• Mexico
• Colombia
• Brazil
• Argentina
• Peru
• Rest of South America
MiddleEastandAfrica
• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest Of MEA
Key Benefits of Global Decorative Coatings Market Report–
• Global Decorative Coatings Market report covers in-depth historical and forecasts analysis.
• Global Decorative Coatings Market research report provides detailed information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market Restraints, Market opportunities, Competitive Analysis, Regional and Country Level.
• Global Decorative Coatings Market report helps to identify opportunities in the marketplace.
• Global Decorative Coatings Market report covers extensive analysis of emerging trends and competitive landscape.