Market Scenario
The global Decorative Coatings
Industry is exhibited to grow at an extravagant growth rate during the forecast
period (2017-2023), exerts Market Research Future (MRFR).
Market Drivers and Restraints
The growth of the Decorative
Coatings Industry is apparent on the face of growing application of decorative
coatings for enhancing the visual appeal of substrates in coating wall as well
as ceilings, wooden flooring of the buildings and furniture. Also, they are
used as coatings for metal objects along with plastic materials.
Get Free Sample Copy@ https://www.marketresearchfuture.com/sample_request/5082
Moreover, growing awareness among
the consumers regarding decorative ideas and designs coupled with the
increasing craze of interior decoration are responsible for the astounding
market performance of decorative coatings. With Do-It-Yourself (DIY) ideology
attracting several interior decorators and arts professionals to implement such
type of coating, consumers are now focusing on attractive ideas to decorate
their residential or commercial properties. Apart from this, the extensive use
of color customization concept in the automobile industry has catapulted the
development of the global Decorative Coatings Industry as well. But the
implementation of stringent regulations by various government bodies has
restricted the use of toxic organic chemicals which are used in the production
of decorative coatings. This factor could be detrimental to the growth of the Decorative
Coatings Industry.
Key Players
·
Akzo Nobel N.V.
·
Asian Paints Limited
·
BASF SE
·
PPG Industries Inc
·
Kansai Paint Co., Ltd.
·
Nippon Paints Co. Ltd
·
The Sherwin-Williams Company
·
The Valspar Corporation
·
Arkema S.A.
·
Tikkurila Oyj
Competitive Landscape
Latest product development along
with Mergers And Acquisitions as well as joint ventures have been the popular
strategies undertaken by the market players in a bid to boost the Decorative
Coatings Industry.
Case in point being Dutch Boy
Paints, a company that has recently launched Dutch Boy Forever paint + primer,
which is a line of stain-blocking interior and ceiling paints that features the
Arm & Hammer Odor Eliminating technology.
Market Segmentation
The Decorative Coatings Industry
is segmented on the basis of type, technology, application, and region. By
Type, the market is segmented into primer, enamel, emulsion, and others.
The emulsion has turned out to be the dominant type of product owing to its
superior quality providing greater coverage on the substrate and also the ease
of application. However, emulsions are closely followed by enamel and lusters.
By Technology, the market
is segmented into waterborne and solvent-borne. Application-wise, the Decorative
Coatings Market is segmented into residential, non-residential and
others. Among these, the residential sector claims the sizeable share of the
global market due to the growing residential constructions across the globe.
Key factors such as increasing per capita income resulting in increasing home
ownership and urbanization have been instrumental in the growth of the segment.
Regional Analysis
Region-wise, the market is
segmented into Latin America, Asia Pacific, Europe, North America, and the
Middle East & Africa.
Among these, the North America Decorative
Coatings Industry is forecasted to experience a remarkable growth as a result
of the increasing production capacities and rising economic growth rate. As of
2016, the United States (U.S) was one of the largest markets in terms of value
& volume and the market is predicted to grow further with a moderate CAGR
on the back of growing decorative coatings application in the furniture sector.
The Europe market is set to grow at a healthy rate on account of the
ever-increasing demand for decorative coatings in various countries like Italy,
Germany, Spain, the U.K, France, and Russia. This growth is evident because of
the increasing expenditure in innovation coupled with the growing purchasing
power of consumers. Furthermore, the presence of major decorative coatings
manufacturers, particularly in Germany is deemed to give a significant push to
the market growth. Various countries in Latin America such as Argentina,
Colombia, and Brazil are presumed to note a decline in the Decorative Coatings
Industry as a result of the financial crisis where the regional debts have
surpassed their incomes.
Whereas, Asia Pacific Decorative
Coatings Industry is reported to observe moderate growth owing to the
developing construction industry as well as the expanding middle-class populace
in China and India. Also, growing awareness along with environmental concerns
in several economies like China, India, Malaysia, Thailand, and Japan is
fostering the demand for ecofriendly based decorative coatings, leading to the
massive growth of the Decorative Coatings Industry in the region.
Access Full Report Details and Order this
Premium Report @ https://www.marketresearchfuture.com/reports/decorative-coatings-market-5082
No comments:
Post a Comment