The Decorative Coatings Market Size was valued at USD 78.12 billion in 2022, and is expected to reach USD 115.41 billion by 2030, and grow at a CAGR of 5.0% over the forecast period 2023-2030.
The paints and coatings used to cover buildings and homes are called decorative coatings. Most are made for specific jobs, such as coating roofs, painting walls, or sealing decks. No matter what it is used for, every coating on a building must serve certain decorative, long-lasting, and protective purposes.
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The decorative coatings on buildings make sure that they last as long as possible. These coatings are very helpful for extending the life of sheets, making them easier to use, and making homes and businesses look better. Alkyd, acrylic, polyurethanes, and many other types of resins are used for these coatings.
Drivers:
Growth of the Construction Industry
Systems for painting that are good for the environment
Coatings that last longer and look and work better
Restraints:
Policies that are hard to follow and take a lot of time
Opportunity:
Chances in places with less regulation
Putting money into "emerging markets"
Challenge:
Getting used to new technologies
Prices of titanium dioxide can change a lot.
The International Monetary Fund (IMF) says that there will be a recession in 2020 that is as bad or worse than the global economic crisis of 2008. The IMF has warned that the world economy will lose a total of USD 9 trillion in output between 2020 and 2021. How the virus spreads in Europe, the US, and other major economies will still determine how much damage it does to the economy.
Economists say that the effects of the outbreak on economies around the world will likely lead to less demand for Chinese goods around the world. This will hurt the Chinese economy even more. As the pandemic gets worse, the growth rate will drop sharply, and this will happen against a background of volatile markets and increasing credit stress. Initial information from China shows that its economy has been hit much harder than expected, but there are signs that things are starting to get better. In Europe and the US, there will be more restrictions on travel and transportation, and the lockdown will last longer. This will cause a drop in demand, which is expected to recover a little in the second quarter before a big recovery starts later in the year.
Central banks have taken action and are doing things like sharply lowering policy rates, buying assets again, and putting more money into the economy. In general, the government has been slow, but they have started to loosen their purse strings. People expect that spending will get bigger and more focused on the groups that are hurt the most. Movement restrictions in Europe and the US are hurting the economies of both places in a big way. The economies of India and Southeast Asian countries are also going through a lot of trouble.
By Resin Type:
Acrylic
Alkyd
Vinyl
Polyurethane
Others
By Technology:
Waterborne coatings
Solvent-borne coatings
By Coating Type:
Interior
Exterior
By User type:
DIY
Professional
By Product Type:
Emulsion
Wood Coatings
Enamels
Others
By Color Type:
White
Other
By Application:
Residential
Non-residential
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Geographically, the decorative coatings market is broken down into Asia-Pacific, Europe, Latin America, North America, and the Middle East and Africa. Asia-Pacific has the largest share of the decorative coatings market because its construction industry is growing and the number of people in the middle class is growing. In developing economies in the Middle East and Africa, like the United Arab Emirates, Saudi Arabia, Iran, and Kuwait, the demand for global decorative coatings is going up. This is because the construction industry is getting more and more popular. Asia-Pacific is also expected to grow at a moderate CAGR. This is because more people are becoming aware of durable coatings and environmental concerns, and more people are looking for decorative coatings that are good for the environment.
North America is expected to grow a lot over the next few years due to its high consumption potential, rising production capacities, and increasing economic growth rate. The U.S. has one of the largest market shares in terms of value and volume for the use of decorative coatings on furniture, and it is expected to grow at a moderate CAGR. The demand for decorative coatings is expected to grow in many European countries, such as Italy, Germany, Spain, the United Kingdom, France, and Russia. This is because people are spending more on innovation and have more money to spend. Also, the growth in this area is expected to be helped by the fact that Germany has a lot of big companies that make decorative coatings.
REGIONAL COVERAGE:
North America
USA
Canada
Mexico
Europe
Germany
UK
France
Italy
Spain
The Netherlands
Rest of Europe
Asia-Pacific
Japan
south Korea
China
India
Australia
Rest of Asia-Pacific
The Middle East & Africa
Israel
UAE
South Africa
Rest of Middle East & Africa
Latin America
Brazil
Argentina
Rest of Latin America
Asian Paints Limited, PPG Industries Inc., The Sherwin-Williams Company, BASF SE, Akzo Nobel N.V., The Valspar Corporation, Arkema S.A., Nippon Paints Co. Ltd, Kansai Paint Co., Ltd., Tikkurila Oyj, and other players.
| Report Attributes | Details |
|---|---|
| Market Size in 2022 | US$ 78.12 Billion |
| Market Size by 2030 | US$ 115.41 Billion |
| CAGR | CAGR of 5.0% From 2023 to 2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2020-2021 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Resin Type (Acrylic, Alkyd, Vinyl, Polyurethane, Others) • By Technology (Waterborne coatings, Solvent-borne coatings, Powder coatings) • By Coating Type (Interior, Exterior) • By User type:, DIY, Professional) • By Product Type (Emulsion, Wood Coatings, Enamels, Others) • By Color Type (White, Others) • By Application (Residential, Non-residential) |
| Regional Analysis/Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
| Company Profiles | Asian Paints Limited, PPG Industries Inc., The Sherwin-Williams Company, BASF SE, Akzo Nobel N.V., The Valspar Corporation, Arkema S.A., Nippon Paints Co. Ltd, Kansai Paint Co., Ltd., Tikkurila Oyj, and other players. |
| DRIVERS | • Growth of the Construction Industry • Systems for painting that are good for the environment • Coatings that last longer and look and work better |
| Restraints | • Policies that are hard to follow and take a lot of time |
Ans: Manufacturers, Consultant, aftermarket players, association, Research institute, private and universities libraries, suppliers and distributors of the product.
Ans: Chances in places with less regulation and Putting money into "emerging markets & quot are the opportunity for Decorative Coatings Market .
Ans: Policies that are hard to follow and take a lot of time are the restraints for Decorative Coatings Market.
Ans: Waterborne coatings, Solvent-borne coatings and Powder coatings are the sub-segments of by Technology segment.
Ans: Decorative Coatings Market Size was valued at USD 74.4 billion in 2021, and expected to reach USD 144.75 billion by 2028, and grow at a CAGR of 5.0 % over the forecast period 2022-2028.
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.1 Introduction
4.3.2 Impact on major economies
4.3.2.1 US
4.3.2.2 Canada
4.3.2.3 Germany
4.3.2.4 France
4.3.2.5 United Kingdom
4.3.2.6 China
4.3.2.7 Japan
4.3.2.8 South Korea
4.3.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8.Decorative Coatings Market Segment, By Resin Type
8.1 Acrylic
8.2 Alkyd
8.3 Vinyl
8.4 Polyurethane
8.5 Others
9.Decorative Coatings Market Segment, By Technology
9.1 Waterborne coatings
9.2 Solvent-borne coatings
9.3 Powder coatings
10.Decorative Coatings Market Segment, By Coating Type:
10.1 Interior
10.2 Exterior
10.3 By User type:
10.4 DIY
10.5 Professional
11. Decorative Coatings Market Segment, By Product Type:
11.1 Emulsion
11.2 Wood Coatings
11.3 Enamels
11.4 Others
12. Decorative Coatings Market Segment, By Color Type:
12.1 White
12.2 Others
13. Decorative Coatings Market Segment, By Application:
13.1 Residential
13.2 Non-residential
14. Regional Analysis
14.1 Introduction
14.2 North America
14.2.1 USA
14.2.2 Canada
14.2.3 Mexico
14.3 Europe
14.3.1 Germany
14.3.2 UK
14.3.3 France
14.3.4 Italy
14.3.5 Spain
14.3.6 The Netherlands
14.3.7 Rest of Europe
14.4 Asia-Pacific
14.4.1 Japan
14.4.2 South Korea
14.4.3 China
14.4.4 India
14.4.5 Australia
14.4.6 Rest of Asia-Pacific
14.5 The Middle East & Africa
14.5.1 Israel
14.5.2 UAE
14.5.3 South Africa
14.5.4 Rest
14.6 Latin America
14.6.1 Brazil
14.6.2 Argentina
14.6.3 Rest of Latin America
15. Company Profile
15.1 Asian Paints Limited
15.1.1 Financial
15.1.2 Products/ Services Offered
15.1.3 SWOT Analysis
15.1.4 The SNS view
15.2 PPG Industries Inc.
15.3 The Sherwin-Williams Company
15.4 BASF SE
15.5 Akzo Nobel N.V.
15.6 The Valspar Corporation
15.7 Arkema S.A.
15.8 Nippon Paints Co. Ltd
15.9 Kansai Paint Co., Ltd.
15.10 Tikkurila Oyj
16.Competitive Landscape
16.1 Competitive Benchmark
16.2 Market Share analysis
16.3 Recent Developments
17. Conclusion
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