Decorative Coatings Market

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. 

Global Decorative Coatings Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2022-2028- Rising construction and renovation activities, increasing urbanization and growing product innovation in decorative coating are some of the 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, lack of labor force and a shortage of raw materials the demand for the decorative coatings was declined.

The global decorative coatings market is segmented based on product, resin type, technology, end-user, and region & country level. Based on product, the decorative coatings market is segmented into primer, enamel, emulsions, and others. Based on technology, the decorative coatings market is segmented into waterborne coatings and solvent-borne coatings. Based on end-user, the decorative coatings market is segmented into residential, commercial, and others. Based on resin type, the market is segmented into acrylic, alkyd, polyurethane, epoxy, polyester, and others. 

The regions covered in this global decorative coatings market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, the market of decorative coatings is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, Middle East Asia (UAE, Saudi Arabia, Egypt) GCC, Africa, etc.

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. Decorative coatings guarantee that the buildings have the longest life expectancy as could be expected. These coatings are profoundly helpful for upgrading the sheet life, its use, and aesthetic worth of the residential and commercial structures. Hence, the demand for decorative coating increases in construction & renovation activities. For example; according to the Houzz & Home survey, there are about 55% of homeowners renovated their homes in 2021, up from 53% in 2020 and 54% in both 2019 and 2018. In addition, increasing urbanization is also supplementing the market growth. Urbanization refers to the populace development from a country to a metropolitan setting and expanding human populace densities in urban areas. The requirement for residential and non-residential designs is extending because of urbanization, which will impel the decorative coatings industry forward. For example; as per the United Nations Department of Economic and Social Affairs, 68% of the total populace is 2.5 billion individuals who are projected to live in urban regions by 2050. In this way, rising urbanization all around the globe is driving the development of the decorative coatings market.

Furthermore, growing number of product launches are also fostering the market growth. For example; in June 2021, PPG Industries Inc., US-based coatings, and specialty materials organization acquired Tikkurila for an undisclosed sum. With this acquisition, PPG Industries Inc. planned to utilize Tikkurila's territorial network and a solid portfolio of decorative brands to give clients access to new innovations and resources. Tikkurila is a Finland-based chemical-producing organization that manufactures decorative paints and coatings. 

However, the use of toxic chemicals in coating formulations may hamper the global decorative coatings market growth. In spite of that, 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. For instance; according to the Organization for Economic Co-Operation and Development (OECD), India's urban populace has ascended by in excess of 150 million starting around 1990 and is projected to develop by a further 500 million by 2050 suggesting that practically 20% of the world's new urban occupants among now and the center of the century will be Indians.

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 to World Bank, in 2020, in the United States, 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:

North America

• 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

Latin America

• Mexico
• Colombia
• Brazil
• Argentina
• Peru
• Rest of South America

Middle East and Africa

• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest Of MEA

Report Analysis	Details
Historical data	2018 - 2021
Forecast Period	2022 - 2028
Market Size in 2021:	USD 72.30 Billion
Base year considered	2021
Forecast Period CAGR %:	5.1%
Market Size Expected in 2028:	USD 102.41 Billion
Tables, Charts & Figures:	175
Pages	200
Decorative Coatings Companies	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, and many others.
Segments Covered	By Product, By Technology, By End-User, By Resin Type
Regional Analysis	North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa

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.