Decorative Coatings Market Overview to 2023:
Decorative
Coatings are widely used as a protectant and colorant for metal, wooden and
concrete structures against bleaching, chalking and general deterioration. Other
than enhancing the visual appearance of the surface they are applied to; they
also provide protection against bleaching, chalking, and general deterioration.
Market Research Future (MRFR) perceives the outlook of the global decorative
coatings market to be positive and exhibit a steady CAGR over the forecast
period of 2017-2023.
The rapid
rise in human development index coupled with a rise in per capita income has
positioned the global decorative coatings market in a place of growth. The
coatings market tends to rely upon overall economic activity, especially
construction spending. Economic upturn will ultimately lead to increased
investment in properties and real estate which is expected to augment the
growth of the decorative coatings market.
Competitive Landscape
·
Nippon Paints Co. Ltd
·
Kansai Paint Co., Ltd.
·
Asian Paints Limited
·
The Valspar Corporation
·
The Sherwin-Williams
Company
·
Akzo Nobel N.V.
·
Tikkurila Oyj
·
PPG Industries Inc.
·
BASF SE
·
Arkema S.A.
Segmental Analysis;
The global
decorative coatings market has been segmented based on type, technology, and application.
By type,
the global decorative coatings market has been segmented into primer, enamel,
emulsion, and others.
By
technology, the global Decorative
Coatings Market has been segmented into waterborne and solvent borne.
By
application, the global decorative coatings market has been segmented into
residential, non-residential and others.
Regional Analysis:
By region,
the global decorative coatings market has been segmented into North America,
Latin America, Asia Pacific (APAC), Europe, and the Middle East & Africa
(MEA).
North
America is domineering the global decorative coatings market and is expected to
exhibit remarkable growth over the forecast period. Remarkable economic growth
and resurgence of construction activities in the region which generate huge
demand within the global decorative coatings market. Moreover, a substantial
number of market players are based in the US which acts as an advantage for
market growth. The US is the key contributor to the North America market.
Europe has
commanded the second position in the global decorative coatings market. High
expenditure on interior decoration purveyed by increasing purchasing power
fosters the growth of the market. Moreover, improving economic conditions and
the existence of major decorative coatings manufacturers in Germany is likely
to boost the growth of the market. The UK, France, Spain, Italy, and Russia are
the country-specific markets within the Europe decorative coatings market.
APAC is
poised to showcase considerable growth in the coming years. Rapid
sophistication of the middle-class population group along with the expanding
construction industry in the developing economies of the region are factors
supporting market growth. Moreover, the growing demand for eco-friendly
decorative coatings in countries such as China, India, Malaysia, Thailand, and
Japan are expected to drive the APAC market.
Economic
depression in Latin America is likely to lead to a decline in the demand for
decorative coatings.
Access Full Report
Details and Order this Premium Report @ https://www.marketresearchfuture.com/reports/decorative-coatings-market-5082
No comments:
Post a Comment