The Decorative Paints & Coatings market is growing globally at a high pace. The seasonal demand for paints and coatings puts the market in constant demand every year. The global market is estimated to have a 5.77% CAGR in the forecast period and will reach a total of 169.67 billion by the end of 2023.
DSM, a major shareholder in the global decorative paints and coating market, has declared to announce their sustainable strategy at the European Coatings Show(ECS) scheduled to take place in Nuremberg in March. The Strategy includes the reduction of harmful outputs in the production of paints and coatings.
Akzo Nobel, a major North-East American company has collaborated with Northumberland College to come up with an apprenticeship scheme to help on future manufacturing of their facility.
Decorative Paints & Coatings Market Value and Growth:
The Global Decorative Paints & Coatings market size was around USD 128.17 billion by revenue, at the end of 2018. It is anticipated to grow at CAGR of 5.77 % to reach USD 169.67 billion by 2023.
Decorative Paints & Coatings Market Drivers and Restraints:
The major driver to the global decorative paints and coatings is the increased demand for the construction industry worldwide. The rapid urbanization across the globe calls for an increase in buildings for various purposes like houses, offices, and industries. For long term protection of these constructions from dust and moisture paints and coatings are necessary. This makes the decorative paints and coatings market to gain demand for better and innovative products.
Although the global market is fast growing, the major contribution is from dominating regions like the Asia Pacific and North America. This makes the market dependent on the geography of these regions restraining global market growth. Also, the environmental damage caused due to the production of the paints and coatings compels the government agencies to impose strict regulations on major companies which in turn restrains the market growth.
Decorative Paints & Coatings Market Segmentation Analysis:
By Resin Type
Based on the type of Resin used the global Decorative Paints & Coatings market is categorized into Polyurethane, Alkyd, Acrylic, and Others. Of the above-mentioned resin types, acrylic resin type accounts for the largest share of the decorative paints and coatings market. Its unique aesthetic properties and low price make it the most frequently used resin type in various construction applications.
By Product Type
Based on the type of the final product the global market is divided into Emulsion, Enamel, Wood Coating and Others(like Primer, Distemper, Thinners, and Putty). The emulsions are the major revenue generator to the global market in the year 2018, owing to the increased applications of emulsions in construction industries.
Based on the technology used in the making of the paints and coatings the global decorative paints and coatings market is segmented into Water-Based and Solvent-Based. The water-based segment is anticipated to grow with the highest CAGR in the forecast period, owing to its superior adhesion and abrasion properties. The eco-friendly nature of water-based paints makes the demand for solvent-based paints decline rapidly as the solvent-based paints have high VOC content and have strict regulations regarding their usage.
Based on the application of the Decorative Paints & Coatings the global Decorative Paints & Coatings market is broadly divided into Residential and Non-Residential. The residential sector of application leads the market in 2018 and is the fastest growing due to the increase in construction activities in the residential sector. This creates demand for decorative paints and coating across the globe.
Decorative Paints & Coatings Market Geographical Analysis:
Decorative Paints & Coatings Market Key Market Players:
By the end of 2018, PPG Industries (U.S.), Datacor, Inc., AkzoNobel N.V. (Netherlands), RPM International Inc., Asian Paints (India), Becker Group, Sherwin-Williams Company (U.S.), KCC Corporation, Masco Corporation (U.S.), Koninklijke DSM N.V, Kansai Paints Co., Ltd. (Japan), Henkel AG & Co. , Jotun Group (Norway), Axalta Coating Systems Ltd, DAW SE (Germany), BASF SE Dulux Group Ltd.(Australia), and Nippon Paint Co. Ltd.(Japan) are the leading shareholders of the Global Decorative Paints & Coatings market. These companies are currently focused on expansion strategies and innovation of a newer variety of paints and coatings to improve their market value and position.
Decorative Paints & Coatings Market Research Report Key Highlights:
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3.1 Executive Summary
3.2 Key Inferences
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1 Resin Type
5.1.7 Y-o-Y Growth Analysis, By Type
5.1.8 Market Attractiveness Analysis, By Type
5.1.8 Market Share Analysis, By Type
5.2 Product Type
5.2.4 Wood Coating
5.2.6 Y-o-Y Growth Analysis, By Product Type
5.2.7 Market Attractiveness Analysis, By Product Type
5.2.8 Market Share Analysis, By Product Type
5.3.4 Y-o-Y Growth Analysis, By Technology
5.3.5 Market Attractiveness Analysis, By Technology
5.3.6 Market Share Analysis, By Technology
5.4.4 Y-o-Y Growth Analysis, By Application
5.4.5 Market Attractiveness Analysis, By Application
5.4.6 Market Share Analysis, By Application
6. Geographical Analysis
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
18.104.22.168 By Geographical Area
22.214.171.124 By Resin Type
126.96.36.199 By Product Type
188.8.131.52 By Technology
184.108.40.206 By Application
6.1.4 Market Attractiveness Analysis
220.127.116.11 By Geographical Area
18.104.22.168 By Resin Type
22.214.171.124 By Product Type
126.96.36.199 By Technology
188.8.131.52 By Application
6.1.5 Market Share Analysis
184.108.40.206 By Geographical Area
220.127.116.11 By Resin Type
18.104.22.168 By Product Type
22.214.171.124 By Technology
126.96.36.199 By Application
6.2 North America
6.1.2 United States
6.3.6 South Korea
6.5 Latin America
6.4.5 Rest of Latin America
6.6 Middle East & Africa
7. Strategic Analysis
7.1 PESTLE analysis
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8. Market Leaders' Analysis
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 PPG Industries
8.3 AkzoNobel N.V.
8.4 Asian Paints
8.5 Sherwin-Williams Company
8.6 Masco Corporation
8.7 Kansai Paints Co., Ltd.
8.8 Jotun A/S
8.9 DAW SE
8.10 Dulux Group Ltd.
8.11 Nippon Paint Co. Ltd.
9. Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10. Market Outlook and Investment Opportunities
a) List of Tables
b) List of Figures