Decorative Coatings Market Opportunities, Business Forecast To 2028
The global decorative coatings market size was valued at USD 70.8 billion in 2021 and poised to grow at significant CAGR of 4.9% during the forecast period 2022-28. Glance our 200 slides market research and competitive intelligence research report, 25 Tables and 65 Figures and other qualitative sections with an in-depth TOC on The research report “Decorative Coatings Market: By Resin Type (Acrylic, Alkyd, and Polyurethane), By Product Type (Emulsions, Enamel, and Wood Coatings), By Technology (Water Based, and Solvent Based), By Application (Residential and Non-Residential), and - Global/Region/Country Forecast to 2028.”
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Launch of novel products in different countries is enhancing the Decorative Coatings Market growth.
The global decorative coatings market is classified into polyurethane, acrylics, alkyds on the basis of resin type. Acrylics sector is anticipated to lead the market because of its unusual traits including excellent dimensional stability, resistance to chalking and sunlight, optical clarity and rigid with good strength. Launch of new products in different economies enables the decorative coatings market growth over the future period. Repair and alteration of commercial, infrastructural, residential and non-residential structures are the examples of building activities. Output is going to increase by 85% till 2030, reaching USD 15.5 trillion according to PWC, worldwide construction output. Different economies such as India, China and United States would contribute up to 57% of the overall growth of the industry during the future period. The recovery of the leading countries is credited with the expansion. Evolving interior design trends, growing disposable income and increasing standards of living are the factors fuelling the per capita paint consumption. Such variables have an advantageous impact on the growth of the decorative coatings market. Decorative coatings manufacturers must constantly modify their processes to meet with new laws and reduce VOC emissions as a growing number of governments impose severe regulatory policies.
Asia Pacific accounted for larger revenue share in the Global Decorative Coatings Market
Global decorative coatings market report offers complete outlook on decorative coatings market across the globe by covering major regions such as North America, Europe, Asia Pacific, Latin America and Middle East and Africa. Among these regions, Asia Pacific market got the major revenue share in the market because of the emerging opportunities available in the region and growing demand from growing population for decorative coatings. U.S. also got larger revenue share because of the increasing application of decorative coatings in the construction industry. Europe also shows a significant growth in decorative coatings market because of the increasing application of decorative coatings in wind turbine industries. Latin America exhibits a considerable growth in market due to the increasing onshore and offshore application. Middle East and Africa decorative coatings market is also estimated to grow during the evaluation period because of the increasing government initiated plans.
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Competitive Analysis - Global Decorative Coatings Market
Major players working in the global decorative coatings market are PPG Industries (U.S.), AkzoNobel N.V. (Netherlands), Sherwin-Williams Company (U.S.), Asian Paints (India) and Masco Corporation (U.S.).
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