Global Decorative Coatings Market Size By Product (Primer, Enamel, Emulsions), By Technology (Waterborne Coatings, Solventborne Coatings, Powder Coating), By Application (Residential, Commercial), By Geographic Scope And Forecast

Decorative Coatings Market Size And Forecast

Decorative Coatings Market size was valued at USD 68.65 Billion in 2021 and is projected to reach USD 96.62 Billion by 2030, growing at a CAGR of 3.87% from 2023 to 2030.

The rapid growth of the construction industry, demand for environmentally-friendly coating systems, and an increase in durable coatings with better performance and aesthetics are expected to fuel the growth of the global Decorative Coatings Market. The Global Decorative Coatings Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Global Decorative Coatings Market Definition

Decorative coatings are liquid paints and coatings used to coat, enhance, and protect the interior or exterior surface of the structure. It can be applied to residential apartments on roof coatings, wall paints, deck finishes, building, trims, and fittings. The topcoat and base coat reflect aesthetic properties coupled with anti-fungal, weather resistance, washability, and anti-dampening properties to the surface. There are three different types of coating – emulsions, wood coatings, and enamels.

Decorative coatings are significantly used as a protective agent and colorant for metal, wooden and concrete structures against bleaching, chalking, and deterioration. They improve working conditions, deliver consistent quality and performance, and improve cost-benefit ratios. These are predominantly used in the metal and plastic industry, residential, and commercial buildings, and the automotive sector.

Global Decorative Coatings Market Overview

The rapid growth of the construction industry, demand for environmentally-friendly coating systems, and an increase in durable coatings with better performance and aesthetics are expected to fuel the growth of the global Decorative Coatings Market. The reconstruction and renovation activities in the construction sector are likely to drive the demand for the forecast period.

Furthermore, rising awareness among consumers about decorative ideas and designs and the growing craze of interior decoration, and the rising population is the result of large-scale urbanization across the world is anticipated to propel the market growth. However, stringent regulations by various government bodies and time-consuming regulatory policies have restricted the use of toxic organic chemicals used in the production of decorative coatings, which is expected to restrain the overall market growth. Whereas, opportunities in less regulated regions and investments in emerging markets offer favorable growth opportunities.

Global Decorative Coatings MarketSegmentation Analysis

The Global Decorative Coatings Market is Segmented on the basis of Product, Technology, Application, And Geography.

Decorative Coatings Market, By Product

• Primer
• Enamel
• Emulsions
• Others

Based on Product, The market is bifurcated into Primer, Enamel, Emulsions, and Others. Emulsions are the most popular type among these and are expected to experience rapid growth due to their low VOC and VAC content, which makes them environmentally benign. In addition, other qualities including storage, non-flammability, and ease of handling are driving demand during the review period. As a leveler and protector that makes coatings smooth, primer is expected to experience profitable growth.

Decorative Coatings Market, By Technology

• Waterborne Coatings
• Solventborne Coatings
• Powder Coating
• Other

Based on Technology, The market is bifurcated into Waterborne Coatings, Solventborne Coatings, Powder Coating, and Others. Water-borne technology is anticipated to have the biggest market share because of its outstanding abrasion and heat resistance. Other advantages over solvent-borne products include lower toxicity, lower flammability, and a potential increase in demand throughout the evaluation period due to lower air pollutants.

Decorative Coatings Market, By Application

• Residential
• Commercial
• Others

Based on Application, The market is bifurcated into Residential, Commercial, and Others. Residential application, which currently holds the highest Decorative Coatings Market share, is anticipated to experience strong growth over the next seven years as a result of the expanding population, rising government spending, and the ongoing development of infrastructure projects. Additionally, the popularity of DIY among consumers will increase demand for home applications.

Decorative Coatings Market, By Geography

• North America
• Europe
• Asia Pacific
• Rest of the world

On the basis of Geography, The Global Decorative Coatings Market is classified into North America, Europe, Asia Pacific, and the Rest of the world. The need for paints and coatings is expected to increase in the automotive, construction, and general industries. Due to the increased demand for personal transportation and the high rate of automobile production in the Asia Pacific area in recent years, the market for paints and coatings is expected to grow over the coming years. Furthermore, it is predicted that the need for paints and coatings across a variety of applications will be fueled by rising urbanization and industrialization, particularly in developing nations like China, India, and Southeast Asia.

Key Players

The “Global Decorative Coatings Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are Akzo Nobel N.V., Celanese Corporation, PPG Industries Inc., Nippon Paint, Kansai Paint Co. Ltd., Clariant, BASF Coatings GmbH, Axalta Coating Systems, The Sherwin Williams Company, RPM International Inc., and Others. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

Key Developments

Partnerships, Collaborations, and Agreements

• AkzoNobel invested nearly 3.54 million USD in its Changzhou powder coatings plant in China in July 2019 to add three new production lines, aiming to support supplies of acrylic powder coatings and powder primers, among other things, for the automotive sector while also strengthening the company’s ability to deliver more locally produced premium products.
• JSW Group will enter the paint business in May 2019 with an investment of 80 million USD. The company would manufacture and market industrial coil coatings and decorative paints at its two sites in Maharashtra and Karnataka.

Mergers and Acquisitions

• To increase their market presence, major companies in the industry are focusing on various methods such as mergers and acquisitions. For example, in December 2018, Rust-Oleum, a subsidiary of RPM International, Inc., purchased Siamons International Inc., a non-toxic specialist mold remover manufacturer.

Product Launches and Product Expansions

• Aquaflow NMS-460E rheology modifier, a high-performing, efficient synthetic thickener used in wood coatings, was released in May 2019 by Ashland, Inc., a specialty chemicals business.
• BASF SE, a German chemicals manufacturer, introduced new light stabilizers for wood and metal coatings in February 2017. Tinuvin 29 and Tinuvin DW (N) light stabilizers will meet the growing need for high-performance light stabilizers.

Report Scope

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Reasons to Purchase this Report

• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes an in-depth analysis of the market of various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post sales analyst support

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