Decorative Paints and Coatings Market Size 2019 by Resin Trends, Product Type, Material, Technology,
The global decorative paints and coatings market size is projected to exceed USD 110 billion in 2025 rising with remarkable CAGR of 5.8% during the forecast period.
[USPRwire, Mon Mar 25 2019] The global decorative paints and coatings market size is projected to exceed USD 110 billion in 2025 rising with remarkable CAGR of 5.8% during the forecast period. The growth in the demand for decorative paints & coatings is supported by the ongoing boom in the global construction industry, especially residential construction.
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The decorative paints and coatings market is also analyzed using Porterís five forces analysis and PESTEL analysis. The report also covers global decorative paints & coatings market insights such as drivers, restraints and value chain. The report also covers in-depth analysis of the key players that hold a significant place in the global decorative paints and coatings market share. The global decorative paints and coatings market types have been analyzed in detail on a global, regional, and country-level.
Decorative paints & coatings are primarily applied to civil structures such as buildings, residential and commercial spaces. These coatings are applied to giving a pleasant visual appeal along with increasing the durability of the structure. Decorative paints and coatings protect the structure from extreme weather conditions, UV radiation, microorganisms, and moisture. Primer, enamel, emulsion among others are major categories of decorative paint and coatings market types, of which emulsion is projected to lead the demand with CAGR 6.2% over the forecast period. On the basis of technology, waterborne coatings are largely replacing the traditional solvent-based decorative paints and coatings owing to its superior characteristics coupled with eco-friendly nature.
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The scope of our study includes global decorative paints and coatings market primarily covered for residential and commercial applications. Decorative coatings are applied to walls, ceiling, wooden and related structures for protecting the structure from external conditions along with giving superior look and feel. Hence, they are mainly applied to residential houses and buildings. Thus, the residential segment is projected to dominate the global decorative paints and coatings market share. Emerging demand for new residential construction, especially from Asia Pacific region, is projected to propel the decorative paints & coatings market size. The growing demand in the global decorative paints and coatings market is well supported by the ongoing demand in the global construction industry. The global construction industry is projected to grow around 4-6% over the next few years. Strengthening economic conditions coupled with impressive growth in urbanization in the Asia Pacific region has propelled the growth of the construction industry. Matured economies such as the U.S. and Europe are also projected to show positive growth owing to increasing demand for residential construction. However, Latin America is projected to show positive growth in later years of the forecast period owing to its recent recovery from economic crisis. Overall, Asia Pacific is projected to dominate the global decorative paints and coatings market share.
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PPG Industries Inc., AkzoNobel N.V., The Sherwin Williams Company, Asian Paints Limited, Kansai Paints, Nippon Paints Co. Ltd. are some of the global players that account for a considerable share in the global decorative paints & coatings market size. The global decorative paints and coatings have a significant presence of regional and local players. Merger & acquisition of these local players by global companies is one of the key trend observed in the market. For instance, in November 2018, AkzoNobel acquired Malaysiaís Colourland Paints business thereby strengthening business in Southeast Asia.
Key segments of the global decorative paints and coatings market
Product Overview, 2015-2025 (USD Million) (Kilo Tons)
Technology Overview, 2015-2025 (USD Million) (Kilo Tons)
- Waterborne Coatings
- Solventborne Coatings
End Use Overview, 2015-2025 (USD Million) (Kilo Tons)
Regional Overview, 2015-2025 (USD Million) (Kilo Tons)
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
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