Decorative Coatings Market Top Company Overview & Research Report, 2022

Felton, Calif., USA, June. 10, 2021 — /EPR Network/ —

The global Decorative Coatings Market research report provides complete insights on industry scope, trends, regional estimates, key application, competitive landscape and financial performance of prominent players. It also offers ready data-driven answers to several industry-level questions. This study enables numerous opportunities for the market players to invest in research and development.

Market Overview:

The global decorative coatings market size is expected to value at USD 106.97 billion by 2022. The market is subject to witness a substantial growth due to the growing construction activities, rapid urbanization, increasing population and growing infrastructural spending by both developing and developed economies across the globe.

Key Players:

  • PPG Industries
  • Axalta Coating Systems
  • Nippon Paint
  • Kansai Paint
  • Bayer AG
  • Valspar Corporation
  • Sherwin-Williams
  • KCC Corporation
  • Jotun A/S
  • Royal DSM
  • BASF

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Growth Drivers:

Growing constructional activities for shopping malls and business parks in the developing economies across the Asia Pacific region such as India, China, Malaysia, Thailand and Singapore are expected to drive the growth of the market in the upcoming years. Globally, the decorative coatings market is predicted to grow at CAGR of 6.1% in forecast period.

Increasing demand for decorative coating from building & construction industry owing to the benefits associated with its use such as higher durability and attractive appearances of the surfaces are expected to influence market growth over the forecast period. Additionally, decorative coating also provides protection against harsh weather and external environmental factors such as ultra-violet radiation, high temperatures, acid rain and pollution particles. These factors are predicted to boost market demand for decorative coating during the forecast period.

The recent technological advancement and development of novel products has led to addition of superior properties such as protection from moisture, corrosion resistance, bacteria and heat resistance, thus escalating market progress, in the recent years. Growing need for environmental-friendly alternatives due to stringent laws and regulation by regional governments across the globe are expected to boost the growth of decorative coatings industry over the forecast period. Moreover, recent joint ventures, mergers and partnerships among number of major manufactures and vendors along with local industry players are anticipated to amplify market value in the upcoming years.

Strong economic growth in the developing economies, particularly in the Asia-Pacific region along with recent infrastructure development has led to high-end demand for decorative coatings, thus fostering market growth in the last few years. In addition, stringent environmental laws to regulate volatile organic compounds (VOCs) to improve indoor air quality in North America and European region is estimated to increase adoption of waterborne technology in domestic and commercial buildings over the forecast period.

Product Outlook:

  • Primer
  • Enamel
  • Emulsions

Technology Segment:

  • Waterborne Coatings
  • Solventborne Coatings

Regional Outlook:

The decorative coatings industry is divided by region as North America, Europe, Asia-Pacific, Latin America and Africa. North America has shown major growth in recent years owing to the rise in the implementation of latest technologies in building & construction activities in the region and existence of well-established manufacturing sector. Asia-Pacific region is predicted to hold major market share in the decorative coating market with massive growth in forecast period.

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