Decorative Coatings Market: Global Opportunity Analysis and Industry Forecast, 2020–2027
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Decorative coatings are paints adhered to both within interior and exterior to enhance aesthetics and to offer a thick shield to prevent the surface against moisture, bacteria, ultraviolet (UV) radiations, corrosion, blistering, chalking, fading, and peeling. They are available in different colors to meet the needs of different sectors, such as industrial, education, and healthcare and also with anti-slip, fire resistant, urine repellent, anti-graffiti, and anti-microbial properties. It exhibits numerous characteristics such as the qualities of anti-skid, reflection, light absorption, and insulation. Decorative Coatings are commonly utilized as a protectant and dyes for concrete structures, wooden structure, and metal structures against general deterioration, chalking, and bleaching. These coatings are used to improve the visual appeal of substrates in wooden flooring, furniture, coating well, and ceilings.
Market scope and structure analysis
Report Metric | Details |
Market size available for years | 2019–2027 |
Base year considered | 2019 |
Forecast period | 2020–2027 |
Forecast unit | Value (USD) |
Segments covered | Resins, Technology, End User, and Region |
Regions covered | North America (U.S., Mexico, and Canada), Europe (Germany, UK, France, and the Rest of Europe), Asia-Pacific (China, Japan, India, and the Rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and the Rest of LAMEA) |
Companies covered | BASF SE (Germany), PPG Industries Inc. (U.S.), The Sherwin-Williams Company (U.S.), Akzo Nobel N.V. (the Netherlands), Asian Paints Limited (Switzerland), Kansai Paint Co., Ltd. (U.S.), The Valspar Corporation (U.S.), Arkema S.A. (France), Nippon Paints Co. Ltd (Japan), and Tikkurila Oyj (Finland) |
Key drivers of global decorative coatings market
The demand for decorative coatings is projected to witness substantial growth during the projected timeframe, due to rise in population. In addition, growing population rate across the world is considered to be a significant factor for the growth of decorative coatings market. Increase in customization in refurbishments and dyes along with rise in per capita income in emerging economies is predicted to propel market growth during the projected timeframe. Rise in buying power of consumers is expected to boost the refurbishments of homes and offices.
Market scenario: opportunities and challenges
Decorative coatings are utilized in construction and renovating of residential buildings, which is anticipated to contribute toward the growth of the global market. In addition, increase in population rate and rapid urbanization in emerging nations are projected to fuel the demand for decorative coatings. In residential constructions, decorative coatings are used in interior applications, which include coating for furniture, shelves, and decorative structures. Increase in demand from the construction industry and rise in consumption rate & environmentally sustainable characteristics of decorative coatings act as the key drivers of the market. Furthermore, innovative strategies adopted by ley players to strengthen their foothold in the global market and surge in investment in emerging nations are crucial factors, which are anticipated to provide remunerative opportunities for the expansion of the global market during the forecast period. However, implementation of stringent guidelines by different government authorities has constrained the use of toxic organic compounds used in the manufacturing process of decorative coatings, which is predicted to impede market growth.
COVID-19 scenario analysis
Owing to the outbreak of the COVID-19 pandemic, the global decorative coatings market is expected to witness a slowdown during the next couple of years. The global decorative coatings industry, once thriving with increased investments, has been severely affected with the lockdown imposed by the governments across various countries. In addition, dearth of labors coupled with potential supply chain bottlenecks of materials and equipment is expected to cause project delays in the ongoing funded projects and may lead to reduced spending in the upcoming projects. Moreover, companies are dealing with missing sales and disrupted supply chains as production activities are shutdown.
Key segments covered
Segment | Subsegment |
Resins |
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Technology |
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End-user |
|
Key benefits of the report
- This study presents the analytical depiction of the global decorative coatings industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global decorative coatings market share.
- The current market is quantitatively analyzed from 2019 to 2027 to highlight the global decorative coatings market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed market analysis depending on competitive intensity and how the competition will take shape in coming years.
Questions answered in the global decorative coatings market research report
- Which are the leading market players active in the global decorative coatings market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities of the market?
- What are the projections for the future that would help in taking further strategic steps?
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