The Global Decorative Coatings Market was estimated to be worth USD 71.63 billion in 2021 and is anticipated to grow at a CAGR of 4.99% from 2023 to 2030 to reach USD 99.95 billion.
The global Decorative Coatings market is expected to witness high growth during the forecast period on account of growing end-use industries and technological advancements. Decorative coatings improve the esthetics and protect surfaces. Generally, they are applied to commercial and residential buildings. These coatings protect surfaces from elements such as UV radiation, moisture, and microbes. Further, decorative coatings include paints, wood stains or transparent coatings, enamels, and lacquers for floors, roofs, walls, ceilings, walkways, concrete surfaces, decks, pavements, and other building and construction applications. Therefore, increasing reconstruction and renovation activities in the construction sector are boosting the growth of the global Decorative Coatings market.
Furthermore, the economic growth in developing countries, rising investment in infrastructure, stringent environmental regulations, increasing purchasing power, and the rising demand for green and environment-friendly coatings are other important factors that escalating the growth of the global Decorative Coatings market. Again, growth in population and rise in urbanization in developing countries is estimated to propel the growth of the Decorative Coatings market.
The key companies in the global market are concentrate on developing new and innovative products to provide to the increasing demand for decorative coatings. Similarly, these companies are also spending heavily on research and development activities to stay relevant in the global market. This crucial factor is expected to support the development of the Decorative Coatings market.
Covid-19 Impact on Decorative Coatings Market
The ongoing COVID-19 pandemic conditions have severely affected every sector around the world. Whereas, the chemicals and materials sectors were moderately affected during the pandemic. This is primarily due to the uncut demand for chemicals for healthcare, life science, and cleaning agents. However, other elements of chemical and material sectors such as paints, industrial oil, and construction materials are facing a diminution in demand. Strict lockdown resulted in a nearly 50-60% reduction in the supply of raw materials, which directly affected the manufacturing process. Further, the halt on many end-use industries directly affected the chemical demand all around the world.
Decorative Coatings Market Segment Overview
Based on Resin, the Acrylics segment is anticipated to lead the global Decorative Coatings market in the forthcoming years. The growth of the segment can be primarily attributed to the key advantages of acrylics. They have excellent gloss retention and colour retention properties. Additionally, they also have high resistance to chalking and can maintain film clarity. In terms of technology, the Water-Borne segment is projected to expand rapidly in the coming period. This is due to their eco-friendly nature. In addition to this, Water-borne decorative coatings meet the standards imposed by the U.S. and European Union on VOC emissions.
Decorative Coatings Market, By Resin
· Acrylics
· Polyurethanes
· Alkyds
· Vinyl Acetate Emulsions
· Epoxies
· Other (Polyester And Fluropolymer)
Decorative Coatings Market, By Technology
· Water-Borne
· Solvent-Borne
· UV-Cured
· Other (Powder-Based And Oil-Based)
Decorative Coatings Market, By Application
· Residential
· Non-Residential
Decorative Coatings Market Regional Overview
In terms of region, North America is expected to be the most prominent region for the global Decorative Coatings market. This is due to the recovery of the construction industry. Also, major players operating in the decorative coatings market are focusing on acquisitions to boost their market share. This, in turn, is estimated to propel the growth of the market in this region. Similarly, Asia Pacific is anticipated to create profitable opportunities for the decorative coatings market during the forecast period. The demand for building and construction materials which includes decorative coatings is on the rise in the Asia Pacific countries, particularly China and India. This key fact contributes more to the market’s expansion in this region.
Decorative Coatings Market, By Geography
· North America (US & Canada)
· Europe (UK, Germany, France, Italy, Spain, Russia & Rest of Europe)
· Asia-Pacific (Japan, China, India, Australia, & South Korea, & Rest of Asia-Pacific)
· LAMEA (Brazil, Saudi Arabia, UAE & Rest of LAMEA)
Decorative Coatings Market Competitor Overview
Some key developments and strategies adopted by manufacturers in Decorative Coatings are highlighted below.
· In September 2021, Allnex has launched the latest ECOWISE CHOICE portfolio of environmentally friendly products for building and decorative applications. With its new product portfolio, allnex is contributing to sustainable buildings around the world with environmentally friendly technologies such as waterborne, UV-curable, powder and formaldehyde-free crosslinking solutions making our living spaces healthier and extending the life of buildings.
Decorative Coatings Market, Key Players
· Akzo Nobel N.V
· PPG Industries, Inc.
· Kansai Paint Co., Ltd.
· BASF Coatings GmbH
· The Sherwin-Williams Company
· RPM International Inc.
· Axalta Coating Systems
· Clariant, Nippon Paint
· Celanese Corporation
· Asian Paints Limited (India)
· NIPSEA GROUP
· Arkema S.A.
· Nippon Paints Co. Ltd.
1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
4. Key Insights
- 4.1. Key Emerging Trends – For Major Countries
- 4.2. Latest Technological Advancement
- 4.3. Regulatory Landscape
- 4.4. Industry SWOT Analysis
- 4.5. Porters Five Forces Analysis
5. Global Decorative Coatings Market Analysis (USD Billion), Insights and Forecast, 2023-2030
- 5.1. Key Findings / Summary
- 5.2. Market Analysis, Insights and Forecast – By Resin
- 5.2.1. Acrylics
- 5.2.2. Polyurethanes
- 5.2.3. Alkyds
- 5.2.4. Vinyl Acetate Emulsions
- 5.2.5. Epoxies
- 5.2.6. Other (Polyester And Fluropolymer)
- 5.3. Market Analysis, Insights and Forecast – By Technology
- 5.3.1. Water-Borne
- 5.3.2. Solvent-Borne
- 5.3.3. UV-Cured
- 5.3.4. Other (Powder-Based And Oil-Based)
- 5.4. Market Analysis, Insights and Forecast – By Application
- 5.4.1. Residential
- 5.4.2. Non-Residential
- 5.5. Market Analysis, Insights and Forecast – By Region
- 5.5.1. North America
- 5.5.2. Europe
- 5.5.3. Asia Pacific
- 5.5.4. Latin America, Middle East and Africa
6. North America Decorative Coatings Market Analysis (USD Billion), Insights and Forecast, 2023-2030
- 6.1. Key Findings / Summary
- 6.2. Market Analysis, Insights and Forecast – By Resin
- 6.2.1. Acrylics
- 6.2.2. Polyurethanes
- 6.2.3. Alkyds
- 6.2.4. Vinyl Acetate Emulsions
- 6.2.5. Epoxies
- 6.2.6. Other (Polyester And Fluropolymer)
- 6.3. Market Analysis, Insights and Forecast – By Technology
- 6.3.1. Water-Borne
- 6.3.2. Solvent-Borne
- 6.3.3. UV-Cured
- 6.3.4. Other (Powder-Based And Oil-Based)
- 6.4. Market Analysis, Insights and Forecast – By Application
- 6.4.1. Residential
- 6.4.2. Non-Residential
- 6.5. Market Analysis, Insights and Forecast – By Country
- 6.5.1. U.S.
- 6.5.2. Canada
7. Europe Decorative Coatings Market Analysis (USD Billion), Insights and Forecast, 2023-2030
- 7.1. Key Findings / Summary
- 7.2. Market Analysis, Insights and Forecast – By Resin
- 7.2.1. Acrylics
- 7.2.2. Polyurethanes
- 7.2.3. Alkyds
- 7.2.4. Vinyl Acetate Emulsions
- 7.2.5. Epoxies
- 7.2.6. Other (Polyester And Fluropolymer)
- 7.3. Market Analysis, Insights and Forecast – By Technology
- 7.3.1. Water-Borne
- 7.3.2. Solvent-Borne
- 7.3.3. UV-Cured
- 7.3.4. Other (Powder-Based And Oil-Based)
- 7.4. Market Analysis, Insights and Forecast – By Application
- 7.4.1. Residential
- 7.4.2. Non-Residential
- 7.5. Market Analysis, Insights and Forecast – By Country
- 7.5.1. UK
- 7.5.2. Germany
- 7.5.3. France
- 7.5.4. Italy
- 7.5.5. Spain
- 7.5.6. Russia
- 7.5.7. Rest of Europe
8. Asia Pacific Decorative Coatings Market Analysis (USD Billion), Insights and Forecast, 2023-2030
- 8.1. Key Findings / Summary
- 8.2. Market Analysis, Insights and Forecast – By Resin
- 8.2.1. Acrylics
- 8.2.2. Polyurethanes
- 8.2.3. Alkyds
- 8.2.4. Vinyl Acetate Emulsions
- 8.2.5. Epoxies
- 8.2.6. Other (Polyester And Fluropolymer)
- 8.3. Market Analysis, Insights and Forecast – By Technology
- 8.3.1. Water-Borne
- 8.3.2. Solvent-Borne
- 8.3.3. UV-Cured
- 8.3.4. Other (Powder-Based And Oil-Based)
- 8.4. Market Analysis, Insights and Forecast – By Application
- 8.4.1. Residential
- 8.4.2. Non-Residential
- 8.5. Market Analysis, Insights and Forecast – By Country
- 8.5.1. China
- 8.5.2. India
- 8.5.3. Japan
- 8.5.4. Australia
- 8.5.5. South East Asia
- 8.5.6. Rest of Asia Pacific
9. Latin America, Middle East and Africa Decorative Coatings Market Analysis (USD Billion), Insights and Forecast, 2023-2030
- 9.1. Key Findings / Summary
- 9.2. Market Analysis, Insights and Forecast – By Resin
- 9.2.1. Acrylics
- 9.2.2. Polyurethanes
- 9.2.3. Alkyds
- 9.2.4. Vinyl Acetate Emulsions
- 9.2.5. Epoxies
- 9.2.6. Other (Polyester And Fluropolymer)
- 9.3. Market Analysis, Insights and Forecast – By Technology
- 9.3.1. Water-Borne
- 9.3.2. Solvent-Borne
- 9.3.3. UV-Cured
- 9.3.4. Other (Powder-Based And Oil-Based)
- 9.4. Market Analysis, Insights and Forecast – By Application
- 9.4.1. Residential
- 9.4.2. Non-Residential
- 9.5. Market Analysis, Insights and Forecast – By Country
- 9.5.1. Brazil
- 9.5.2. Saudi Arabia
- 9.5.3. UAE
- 9.5.4. Rest of LAMEA
10. Competitive Analysis
- 10.1. Company Market Share Analysis, 2021
- 10.2. Key Industry Developments
- 10.3. Company Profile
- 10.4. Akzo Nobel N.V
- 10.4.1. Business Overview
- 10.4.2. Segment 1 & Service Offering
- 10.4.3. Overall Revenue
- 10.4.4. Geographic Presence
- 10.4.5. Recent Development
- 10.5. PPG Industries, Inc.
- 10.6. Kansai Paint Co., Ltd.
- 10.7. BASF Coatings GmbH
- 10.8. The Sherwin Williams Company
- 10.9. RPM International Inc.
- 10.10. Axalta Coating Systems
- 10.11. Clariant, Nippon Paint
Data Library Research are conducted by industry experts who offer insight on industry structure, market segmentations technology assessment and competitive landscape (CL), and penetration, as well as on emerging trends. Their analysis is based on primary interviews (~ 80%) and secondary research (~ 20%) as well as years of professional expertise in their respective industries. Adding to this, by analysing historical trends and current market positions, our analysts predict where the market will be headed for the next five years. Furthermore, the varying trends of segment & categories geographically presented are also studied and the estimated based on the primary & secondary research.
In this particular report from the supply side Data Library Research has conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and SOFT) of the companies that active & prominent as well as the midsized organization
FIGURE 1: DLR RESEARH PROCESS
Extensive primary research was conducted to gain a deeper insight of the market and industry performance. The analysis is based on both primary and secondary research as well as years of professional expertise in the respective industries.
In addition to analysing current and historical trends, our analysts predict where the market is headed over the next five years.
It varies by segment for these categories geographically presented in the list of market tables. Speaking about this particular report we have conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and many more) of the major players active in the market.
Secondary ResearchSecondary research was mainly used to collect and identify information useful for the extensive, technical, market-oriented, and Friend’s study of the Global Extra Neutral Alcohol. It was also used to obtain key information about major players, market classification and segmentation according to the industry trends, geographical markets, and developments related to the market and technology perspectives. For this study, analysts have gathered information from various credible sources, such as annual reports, sec filings, journals, white papers, SOFT presentations, and company web sites.
Market Size EstimationBoth, top-down and bottom-up approaches were used to estimate and validate the size of the Global market and to estimate the size of various other dependent submarkets in the overall Extra Neutral Alcohol. The key players in the market were identified through secondary research and their market contributions in the respective geographies were determined through primary and secondary research.
Forecast Model
