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Forecasts indicate that between 2022 and 2030, the global market for decorative coatings will expand at a CAGR of 6.1%, reaching a value of US$103.80 billion.
Decorative coatings cover a wide range of products and techniques that enhance the visual quality of various substrates. Surfaces including walls, floors, and furniture can benefit from these coatings because of their protective qualities, aesthetic enhancements, and decorative impacts. Decorative coatings can be applied to surfaces using a wide variety of materials and processes to enhance their visual appeal. They offer a variety of options for incorporating colour, texture, patterns, and other ornamental aspects to create visually appealing spaces.
COVID 19's Effect on the International Decorative Coatings Industry
Since the COVID 19 outbreak, the worldwide industry for ornamental coatings has been severely disrupted. Multiple governments have ordered a nationwide lockdown. Businesses were temporarily disrupted by the crisis, but they have since returned to normal operations. Rapid urbanisation, numerous infrastructure projects, and rising interest in embracing new technologies and rethinking traditional business models are all contributing to the APAC region's market expansion. In addition, developments in green building technology, prefabricated structures, and sustainable building practises are set to upend the industry as we know it.
Market-Driving Factors
Increases in urbanisation and industrialization worldwide, technological advancements, and the rising demand for these products in buildings due to their ability to increase the surface's durability and aesthetics while also protecting it from the damaging effects of the environment, such as ultraviolet light, are all driving forces behind the market's expansion. Superior properties like resistance to moisture, corrosion, UV radiation, microorganisms, and heat are driving the market for ornamental coatings. Growth in less-regulated countries, higher R&D activities, and investments in developing markets are all expected to boost the decorative coatings market throughout the forecast period. Innovative techniques and original recipes are employed to create one-of-a-kind results. Metallic coatings, textured coatings, and special effect coatings have gained popularity because of their unique visual appeal.
The Major Obstacles Facing the Market
Stringent and time-consuming regulatory policies, increasing raw material price volatility, and the increasing environmental effects of solvent-borne coatings' VOC emissions are all limiting the decorative coatings market. These issues will continue to restrain market expansion over the predicted period.
The worldwide market for ornamental coatings is broken down into submarkets based on the resins used in their production: acrylic, alkyd, vinyl, polyurethane, and others. Over the next few years, the acrylic subsector is expected to maintain its status as the market leader. As a material, acrylic can withstand oxidation and the elements. Not only do they offer full coverage at a reasonable price, but they also withstand water and stains nicely. Acrylic's primary component has a decreasing propensity to absorb UV radiation. They are also resistant to fading and have a high degree of gloss. It is expected that these factors will increase the market's overall size. The vinyl category, on the other hand, is expected to develop at the quickest rate over the projection period because of its low cost and the fact that it can be cleaned simply by rinsing it under running water.
Waterborne coatings, Decorative Coatings, and solvent borne coatings are the three main submarkets of the worldwide decorative coatings market based on their application method. Among them, waterborne coatings are expected to have the highest growth rate in the market. Waterborne coatings are becoming more popular, and with that comes the requirement for environmentally friendly raw ingredients. In addition, developments in waterborne alkyd technology have led to an increase in the manufacturing of low- or no-VOC alkyd resins. The environmental impact of water-based coatings is growing as a result of all these causes.
The global market for decorative coatings may be broken down into the interior and exterior segments based on the coating type. Over the next years, the market is expected to be led by the external coating type segment. Spending on infrastructure construction has increased in part because of the expanding population that can be reached by existing services. It is expected that the category growth will be fueled by decreased labour costs and increased disposable income. Due to rising investments in interior decorative applications, the interior market sector is expected to develop at the quickest rate over the forecast period. The global market for decorative coatings may be broken down into two different types of end-use categories: residential and non-residential. The residential sector is expected to maintain its dominant position in this market. The sector growth is being driven by reasons such as increased economic growth and rising income among the population. In addition, demand will rise as both new home building and attention to restoring older homes rise. However, non-residential applications, such as theatres, gardens, and other public facilities, are expected to increase at the quickest rate in the market over the projection period.
Report Coverage
Global Decorative Coatings research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Decorative Coatings report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Decorative Coatings competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Decorative Coatings market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Decorative Coatings market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Decorative Coatings market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
PPG Industries Inc., Akzo Nobel N.V., The Sherwin-Williams Company, Axalta Coating Systems LLC, NIPSEA GROUP, Kansai Paint Co.Ltd., Bayer AG, KCC CORPORATION, Jotun, Koninklijke DSM N.V., BASF SE, Benjamin Moore & Co., Masco Corporation, DAW SE, The Arkema Group, Berger Paints India Limited, Cabot Corporation, Clariant, Eastman Chemical Company, Tikkurila, Cromology, HEMPEL A/S, Ashland, RPM International Inc.
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Decorative Coatings market based on the below-mentioned segments:
Global Decorative Coatings Market, By Resin Type
Acrylic
Alkyd
Vinyl
Polyurethane
Others
Global Decorative Coatings market, By Application
Residential
Non Residential
Global Decorative Coatings Market, By Product
Emulsion
Wood Coatings
Enamels
Others
Global Decorative Coatings market, Regional Analysis
Decorative coatings cover a wide range of products and techniques that enhance the visual quality of various substrates. Surfaces including walls, floors, and furniture can benefit from these coatings because of their protective qualities, aesthetic enhancements, and decorative impacts. Decorative coatings can be applied to surfaces using a wide variety of materials and processes to enhance their visual appeal. They offer a variety of options for incorporating colour, texture, patterns, and other ornamental aspects to create visually appealing spaces.
COVID 19's Effect on the International Decorative Coatings Industry
Since the COVID 19 outbreak, the worldwide industry for ornamental coatings has been severely disrupted. Multiple governments have ordered a nationwide lockdown. Businesses were temporarily disrupted by the crisis, but they have since returned to normal operations. Rapid urbanisation, numerous infrastructure projects, and rising interest in embracing new technologies and rethinking traditional business models are all contributing to the APAC region's market expansion. In addition, developments in green building technology, prefabricated structures, and sustainable building practises are set to upend the industry as we know it.
Market-Driving Factors
Increases in urbanisation and industrialization worldwide, technological advancements, and the rising demand for these products in buildings due to their ability to increase the surface's durability and aesthetics while also protecting it from the damaging effects of the environment, such as ultraviolet light, are all driving forces behind the market's expansion. Superior properties like resistance to moisture, corrosion, UV radiation, microorganisms, and heat are driving the market for ornamental coatings. Growth in less-regulated countries, higher R&D activities, and investments in developing markets are all expected to boost the decorative coatings market throughout the forecast period. Innovative techniques and original recipes are employed to create one-of-a-kind results. Metallic coatings, textured coatings, and special effect coatings have gained popularity because of their unique visual appeal.
The Major Obstacles Facing the Market
Stringent and time-consuming regulatory policies, increasing raw material price volatility, and the increasing environmental effects of solvent-borne coatings' VOC emissions are all limiting the decorative coatings market. These issues will continue to restrain market expansion over the predicted period.
The worldwide market for ornamental coatings is broken down into submarkets based on the resins used in their production: acrylic, alkyd, vinyl, polyurethane, and others. Over the next few years, the acrylic subsector is expected to maintain its status as the market leader. As a material, acrylic can withstand oxidation and the elements. Not only do they offer full coverage at a reasonable price, but they also withstand water and stains nicely. Acrylic's primary component has a decreasing propensity to absorb UV radiation. They are also resistant to fading and have a high degree of gloss. It is expected that these factors will increase the market's overall size. The vinyl category, on the other hand, is expected to develop at the quickest rate over the projection period because of its low cost and the fact that it can be cleaned simply by rinsing it under running water.
Waterborne coatings, Decorative Coatings, and solvent borne coatings are the three main submarkets of the worldwide decorative coatings market based on their application method. Among them, waterborne coatings are expected to have the highest growth rate in the market. Waterborne coatings are becoming more popular, and with that comes the requirement for environmentally friendly raw ingredients. In addition, developments in waterborne alkyd technology have led to an increase in the manufacturing of low- or no-VOC alkyd resins. The environmental impact of water-based coatings is growing as a result of all these causes.
The global market for decorative coatings may be broken down into the interior and exterior segments based on the coating type. Over the next years, the market is expected to be led by the external coating type segment. Spending on infrastructure construction has increased in part because of the expanding population that can be reached by existing services. It is expected that the category growth will be fueled by decreased labour costs and increased disposable income. Due to rising investments in interior decorative applications, the interior market sector is expected to develop at the quickest rate over the forecast period. The global market for decorative coatings may be broken down into two different types of end-use categories: residential and non-residential. The residential sector is expected to maintain its dominant position in this market. The sector growth is being driven by reasons such as increased economic growth and rising income among the population. In addition, demand will rise as both new home building and attention to restoring older homes rise. However, non-residential applications, such as theatres, gardens, and other public facilities, are expected to increase at the quickest rate in the market over the projection period.
Report Coverage
Global Decorative Coatings research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Decorative Coatings report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Decorative Coatings competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Decorative Coatings market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2022 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | PPG Industries Inc., Akzo Nobel N.V., The Sherwin-Williams Company, Axalta Coating Systems LLC, NIPSEA GROUP, Kansai Paint Co.Ltd., Bayer AG, KCC CORPORATION, Jotun, Koninklijke DSM N.V., BASF SE, Benjamin Moore & Co., Masco Corporation, DAW SE, The Arkema Group, Berger Paints India Limited, Cabot Corporation, Clariant, Eastman Chemical Company, Tikkurila, Cromology, HEMPEL A/S, Ashland, RPM International Inc. |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Decorative Coatings Market from 2021 to 2030.
- Market Forecast for Decorative Coatings Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Decorative Coatings competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Decorative Coatings
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Decorative Coatings market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Decorative Coatings market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
PPG Industries Inc., Akzo Nobel N.V., The Sherwin-Williams Company, Axalta Coating Systems LLC, NIPSEA GROUP, Kansai Paint Co.Ltd., Bayer AG, KCC CORPORATION, Jotun, Koninklijke DSM N.V., BASF SE, Benjamin Moore & Co., Masco Corporation, DAW SE, The Arkema Group, Berger Paints India Limited, Cabot Corporation, Clariant, Eastman Chemical Company, Tikkurila, Cromology, HEMPEL A/S, Ashland, RPM International Inc.
Primary Target Market
- Market Players of Decorative Coatings
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Decorative Coatings market based on the below-mentioned segments:
Global Decorative Coatings Market, By Resin Type
Acrylic
Alkyd
Vinyl
Polyurethane
Others
Global Decorative Coatings market, By Application
Residential
Non Residential
Global Decorative Coatings Market, By Product
Emulsion
Wood Coatings
Enamels
Others
Global Decorative Coatings market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
About This Research
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