DUBLIN, April 30, 2021 /PRNewswire/ — The “Decorative Coatings Market – Global Outlook and Forecast 2021-2026” report has been added to ResearchAndMarkets.com’s offering.
The global decorative coatings market by revenue is expected to grow at a CAGR of over 5% during 2021-2026.
The introduction of anti-microbial coatings is expected to boost the global decorative paints market growth. These coatings use chemicals to prevent the growth of disease-causing micro-organisms. They provide lasting and effective protection against harmful bacteria, mold, and fungi.
A growing concern for cleanliness in several surroundings has led to the continued growth of the market. Due to the outbreak of the COVID-19 pandemic and the growth of healthcare-associated infections (HAIs), the importance of anti-microbial decorative coating has grown significantly. Hospitals, schools, and food production facilities are experiencing the high application of anti-microbial paints as these places are susceptible to bacterial and microbial growth.
However, the global market suffered a downfall during the COVID-19 crisis as major revenue-contributing end-users such as construction, commercial renovation, infrastructure development, and home improvement activities witnessed a halt, especially during Q1 Q2 2020.
Global Decorative Coatings Market Segmentation
The global decorative coatings market research report includes a detailed segmentation by resin type, formation, product, end-user, surface type, geography. The demand for water-borne acrylic coatings is likely to augment during the forecast period due to their low volatile organic component (VOC) content, high gloss retention, and promising drying times.
Acrylic decorative coatings are used in residential and non-residential sectors. Increasing government initiatives to construct commercial and industrial infrastructure in emerging countries will offer acrylic coatings manufacturers opportunities. Also, the demand for eco-friendly water-based acrylic coatings is expected to boost the growth during the forecast period.
Europe and North America are the major end-users of these solutions due to the high preference for environment-friendly solutions. Acrylic water-borne coatings have replaced solvent-borne in North America and Western Europe and several developing economies.
INSIGHTS BY GEOGRAPHY
By value, APAC is the largest region in the decorative paints & coatings market. India and China are major contributors to the market, with China accounting for over $6 billion. Low labor costs, inexpensive raw materials, growing population, increased infrastructure investments, rising construction activities, and rapid urbanization are expected to boost the market during the forecast period.
India is expected to dominate the market due to expanding the construction sector with increasing government and private spending on commercial and residential constructions. The Indian government plans to develop 100 new airports by 2035. Therefore, the rise in the construction industry is likely to drive the decorative coatings market.
INSIGHTS BY VENDORS
AkzoNobel, PPG Industries, Sherwin- Williams Company, Axalta, RPM International, and Nippon Paint are the major players in the market. Vendors are expanding their businesses via a profitable partnership or acquiring small or medium-sized active vendors, whereas domestic vendors are capitalizing with product portfolios based on the requirement. Large-scale manufacturers have shifted toward environment-friendly coatings with low or no VOC.
The introduction of innovative and proprietary products that cater to customer demands requires companies to devote significant effort and resources. The research and development team needs to continuously analyze market trends to design, develop, and manufacture new product categories and new products with distinctive features and added advantages.
- PPG industries
- Sherwin Williams
- RPM International Inc
- Axalta Coatings System
Other Prominent Vendors
- Asian Paints
- BASF Chemical Company
- Berger Paints Company
- Brillux Gmbh & CO. KG
- Cabot Corporation Chemical Company
- Carpoly Chemical Group
- Clariant AG Chemical Company
- Cromology SAS Company
- DAW SE
- Diamond Vogel Paint Company
- DSM Corporation
- Dulux Group Limited
- Dunn Edwards Paints
- Eastman Chemical Company
- Fujikura Kasei Company Ltd.
- H.B. Fuller
- Hempel Group
- Jotun Chemical Company
- Kansai Paint Company Limited
- KCC Corporation
- Masco Manufacturing Company
- Nippon Paint Holdings Limited
- NOROO Paint & Coatings Company Ltd.
- Nuplex Industries Limited
- Premium Coatings and Chemicals Pvt Ltd.
- Sacal International Group Limited
- SK Kaken Company Limited
- Teknos Group OY
- Tikkurila OYJ
- Tnemec Company Inc.
- Wacker Chemie AG
Key Topics Covered:
1 Research Methodology
2 Research Objectives
3 Research Process
4 Scope & Coverage
4.1 Market Definition
4.2 Base Year
4.3 Scope of The Study
4.4 Market Segment
5 Report Assumptions & Caveats
5.1 Key Caveats
5.2 Currency Conversion
5.3 Market Derivation
6 Market at a Glance
7.2 Impact Of COVID-19
8 Frequently Asked Questions
8.1 What are the Major Factors Driving the Growth of Decorative Coatings?
8.2 What is the Major Product Type in Decorative Coatings?
8.3 Which Resin Type Is Projected to Grow at The Highest Rate?
8.4 Which is The Dominant Technology Leading the Market?
8.5 Which is The Largest Regional Market for Decorative Coatings?
8.6 Which Are the Major Players Specializing In Decorative Coatings?
8.7 What Is the Biggest Challenge In The Decorative Coating Market?
9 Industry Experts View on Market
10 Market Opportunities & Trends
10.1 Construction and Rapid Urbanization
10.2 Introduction of New Technologies
10.3 Remodelling and Repaint In The Construction Sector
10.4 Introduction of DIY Paint
11 Market Growth Enablers
11.1 Anti-Microbial Coatings
11.2 Alternatives to Decorative Paint
11.3 High Demand from The Manufacturing Sector In Developing Countries
12 Market Restraints
12.1 High Cost of Raw Materials
12.2 Low VOC Content Regulations
13 Supply Chain Analysis
14 Market Landscape
14.1 Market Overview
14.2 Market Size & Forecast
14.3 Five Forces Analysis
15 Resin Type
15.1 Market Snapshot & Growth Engine
15.2 Market Overview
16 Surface Type
16.1 Market Snapshot & Growth Engine
16.2 Interior Coating
16.3 Exterior Coating
17 Technology Type
17.1 Market Snapshot & Growth Engine
17.2 Market Overview
18 Product Type
18.1 Market Snapshot & Growth Engine
19 User Type
19.1 Market Snapshot & Growth Engine
19.2 Professional Users
19.3 DIY USERS
20.1 Market Overview
20.2 Market Snapshot & Growth Engine
20.4 Market Snapshot & Growth Engine
20.5 Construction of New Houses
20.6 Remodeling And Repainting
20.9 Market Snapshot & Growth Engine
21.1 Market Snapshot & Growth Engine
21.2 Geographic Overview
For more information about this report visit https://www.researchandmarkets.com/r/wxizgh
Research and Markets
Laura Wood, Senior Manager
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