Decorative Coatings Market is expected to develop from USD 67.0 billion in the year 2020 to USD 82.4 billion by 2025, recording a CAGR of 4.2%.
Decorative coatings are various types of paints and coatings used to cover buildings and homes. Most are assigned for explicit uses, for example, rooftop coatings, wall paints, or deck finishes. Regardless of its utilization, each design covering must give certain decorative, strong, and protective features.Decorative coatings guarantee that the structures have the longest life expectancy as possible. These coatings are profoundly helpful for improving the sheet life, its utilization and graceful value of the private and commercial structures. Significant kinds of resins utilized for these coatings incorporate alkyd, acrylic, polyurethanes and more similar kinds of resins. These coatings, as the name suggests, are often utilized for decorative applications. Nonetheless, exterior decorative coatings protect the buildings from different natural conditions. These coatings are applied to home electronics for more noteworthy looks and resistance against corrosion. Decorative coatings have wide scope of utilizations in new developments and rebuilding of more seasoned structures.
Rising interest for the decorative coatings in buildings as it upgrades mechanical strength and appearances of the surface along with shielding it from bad climate and harsh conditions, for example, UV radiation, extraordinary temperature, corrosive downpour, and unfamiliar particles will increase business development. Additionally, high quality properties for example moisture, consumption opposition, UV radiation, microbes, and heat obstruction are some factors due to which the global decorative coatings business is growing over the figure time frame.
Rising interest for environment friendly waterborne coatings in emerging economies of China and India is probably going to push industry advancement. An expanding number of partnerships and collaborations among different key market players and local producers in the Asia Pacific is probably going to build up the market over the extended period. Additionally, infrastructure improvement in such economies combined with rising expenditure on current financial plans by the government of India and China is a key factor liable for significant growth of the decorative coatings industry. Innovative progression including Nano-TiO2 photocatalysts, green coatings, and acquaintance of techniques with decrease drying time is supposed to boost development rate over the figure time frame. Expanding R&D ventures alongside continuous product advancement to improve the efficiency and shelf-life of these items will act as a catalyst for market development throughout the following seven years. Besides, the advancement of new waterborne coatings having various formulations by different organizations to give antibacterial and anti-odor properties is relied upon to expand market development over the following years. Likewise, the incorporation of nano coatings, alongside green coatings, is determined to drive market development throughout the following seven years.
Variety in crude material costs including alkyd, epoxy, acrylic, and titanium dioxide is estimated to limit the development of this industry. Besides, destructive environmental impacts by solution borne coatings are anticipated to be the key market challenge over the next seven years.
Waterborne coatings are relied upon to observe quick development, regarding volume, at a CAGR of 6.5% from 2019 to 2024 because of its excellent adhesive, heat obstruction, and abrasion properties. In addition, its preferred position over solvent borne including less harmfulness, less combustibility, alongside the decrease of gas emission is required to increase interest over the gauge time frame.
Solvent borne innovation is relied upon to lose its market share extensively over the conjecture period as it contains VOCs and Hazardous Air Pollutants (HAP) including toluene, ethylbenzene, xylene, and methyl ethyl ketone and is costly. Solvent borne coatings request is required to surpass 7,100.0 kilotons by 2022.
Emulsions were the biggest fragment in 2018 and represented over 35% of the market volume share and are relied upon to observe critical development attributable to its low VOC and VAC content, making it earth well disposed. Likewise, non-combustibility, simple dealing with, and capacity will invigorate its interest over the conjecture time frame.
Groundwork is required to observe worthwhile development over the figure time frame as it goes about as a leveler and defender along these lines making coatings smooth. Interest for groundworks is relied upon to surpass 2,150.0 kilotons by 2022.
Residential was the biggest application in the review period that was assessed at USD 40.31 billion. It is estimated to observe high raise throughout the following seven years because of expanding government funding, quickly increasing population density, and nonstop advancement on infrastructure ventures. Additionally, the rising pattern of DIY among buyers will increase utilization for residential applications over the following seven years.
Decorative Coatings Market Regional Insights:
Based on the region, the global decorative coatings market is spread across the areas of North America, Asia Pacific, South America, Middle East and Africa, and Europe. Among these, the Asia Pacific decorative coatings market was estimated at USD 20.23 billion in the review period, controlling the worldwide market, as far as volume and worth are considered. This pattern is determined to proceed on the record of expanding development going through alongside quick financial advancements in China, India, Indonesia, South Korea, and Thailand. China is expected to drive the regional interest because of developing local manufacturers alongside expanding infrastructural area.
MEA is relied upon to observe generous development with CAGR surpassing 6% from 2019 to 2024 because of the rising development exercises primarily in the UAE and Qatar because of financial recuperation, developed real estate system, and expanding infrastructural venture.
Decorative Coatings Market Key Market Players:
Various other players include Asian Paints, Berger Paints, Cabot Corporation, DAW SE, Jotun A/S, Masco Corporation, Benjamin Moore, and Axalta Coating Systems.
The predominant pandemic circumstance has put a hold on the interest in paints and coatings in car, infrastructure development, hardware, and white products. The way to recovery of development for the business will be dependent on the span of limitations forced and their effect on finance activities over the globe. As opposed to the current pattern in the business, specific portions of the market, for example, antimicrobial coatings are experiencing large visibility in the field of medical care and food enterprises.
1.1 Market Definition
1.2 Scope of the report
1.3 Study Assumptions
1.4 Base Currency, Base Year and Forecast Periods
2. Research Methodology
2.1 Analysis Design
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Data Modelling
2.2.4 Expert Validation
2.3 Study Timeline
3. Report Overview
3.1 Executive Summary
3.2 Key Inferencees
4. Market Dynamics
4.1 Impact Analysis
4.2 Regulatory Environment
4.3 Technology Timeline & Recent Trends
5. Competitor Benchmarking Analysis
5.1 Key Player Benchmarking
5.1.1 Market share analysis
5.1.3 Regional Presence
5.2 Mergers & Acquistion Landscape
5.3 Joint Ventures & Collaborations
6. Market Segmentation
6.1 Decorative Coatings Market, By Product
6.1.4 Market Size Estimations & Forecasts (2021-2026)
6.1.5 Y-o-Y Growth Rate Analysis
6.1.6 Market Attractiveness Index
6.2 Decorative Coatings Market, By Application
6.2.3 Market Size Estimations & Forecasts (2021-2026)
6.2.4 Y-o-Y Growth Rate Analysis
6.2.5 Market Attractiveness Index
6.3 Decorative Coatings Market, By Technology
6.3.2 Solvent borne
6.3.3 Market Size Estimations & Forecasts (2021-2026)
6.3.4 Y-o-Y Growth Rate Analysis
6.3.5 Market Attractiveness Index
7. Geographical Landscape
7.1 Global Identity Governance and Administration Market, by Region
7.2 North America - Market Analysis (2018 - 2024)
7.2.1 By Country
7.2.2 By Product
7.2.3 By Application
7.2.4 By Technology
7.3.1 By Country
126.96.36.199 Rest of Europe
7.3.2 By Product
7.3.3 By Application
7.3.4 By Technology
7.4 Asia Pacific
7.4.1 By Country
188.8.131.52 South Korea
184.108.40.206 South East Asia
220.127.116.11 Australia & NZ
18.104.22.168 Rest of Asia-Pacific
7.4.2 By Product
7.4.3 By Application
7.4.4 By Technology
7.5 Latin America
7.5.1 By Country
22.214.171.124 Rest of Latin America
7.5.2 By Product
7.5.3 By Application
7.5.4 By Technology
7.6 Middle East and Africa
7.6.1 By Country
126.96.36.199 Middle East
7.6.2 By Product
7.6.3 By Application
7.6.4 By Technology
8. Key Player Analysis
8.1 PPG Industries
8.1.1 Business Description
8.1.4 SWOT Analysis
8.1.5 Recent Developments
8.1.6 Analyst Overview
8.4 Nippon Paint
8.5 Valspar Corporation
8.6 Asian Paints
8.7 Berger Paints
8.8 Cabot Corporation
8.9 DAW SE
8.10 Jotun A/S
9. Market Outlook & Investment Opportunities
List of Tables
List of Figures
Global,Regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
Segment-level analysis in terms of by technology,by type,by application,along with market size forecasts and estimations to detect key areas of industry growth in detail
Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
Study the micro environment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analysing the level of competition and business strategy development
A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions
Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market