Market Insights:
Decorative Coatings Market are widely used as a protectant and
colorant for metal, wooden and concrete structures against bleaching, chalking
and general deterioration. In the market, Decorative Coatings are available as
water borne and solvent borne coatings. These coatings have major applications
as enhancing the visual appeal of substrates in coating wall and ceilings,
furniture, and wooden flooring of the buildings. Additionally, they are used as
coatings for metal objects and plastic materials.
As per our Analysis, some of the prominent market factors and
trends identified in the Global Decorative Coatings Market include rapid rise
in human development index (HDI), rising demand for dazzling colors that are in
resonance with the environmental regulations and policies, and increasing
expenditure on construction activities. Moreover, demand for decorative
coatings is predicted to witness significant growth over the assessment period
due to the surging population. Rising population and necessity to lodge the
expanding population across the globe is anticipated to be an important driver
for Decorative Coatings Market during the review period. Increasing renovation
and colorants customization along with rising disposable income in the emerging
economies is predicted to propel the growth of the market during the assessment
period, 2017 to 2023. However, implementation of strict regulations by various
government bodies have restricted the use of toxic organic chemicals used in
the production of decorative coatings, which is expected to hamper the growth
of the market.
Key Players:
·
BASF SE
·
PPG Industries Inc.
·
The Sherwin-Williams Company
·
Akzo Nobel N.V.
·
Asian Paints Limited
·
Kansai Paint Co., Ltd.
·
The Valspar Corporation
·
Arkema S.A.
·
Nippon Paints Co. Ltd
·
Tikkurila Oyj
Regional Analysis:
The Global Decorative Coatings Market consists of five
regions: Asia Pacific, Europe, Latin America, North America, and the Middle
East & Africa. Among these, Asia Pacific is predicted to grow with the
highest CAGR during the review period, 2017 to 2023 on account of expanding
construction industry. The demand for Decorative Coatings is predicted to surge
in numerous countries of the Middle East & Africa such as Iraq, the United
Arab Emirates, Saudi Arabia, Iran, and Kuwait due to high adoption rate by the
construction industry. Moreover, this region is firmly in the middle of the
world’s fastest growing markets and allowed Dubai in particular, to turn itself
into a global hub for aviation, tourism and logistics.
North American Decorative Coatings Market is predicted to
witness a tremendous growth on account of high consumption potential,
increasing production capacities, and rising economic growth rate. As of 2016,
the U.S accounted for one of the largest global market shares in terms of value
& volume and is estimated to grow with the moderate CAGR on account of
growth in Decorative Coatings application in furniture sector. In Europe, the
demand for Decorative Coatings is predicted to grow in various countries such
as Italy, Germany, Spain, U.K, France, and Russia on account of increasing
expenditure in innovation and growing purchasing power of consumers. Moreover,
presence of major Decorative Coatings manufacturers specifically in Germany is
expected to give a momentum to the market growth. Latin American countries such
as Argentina, Colombia, and Brazil are predicted to experience decline in the
Decorative Coatings Market owing to the financial crisis where the regional
debts has surpassed their incomes. Asia Pacific decorative coatings market is
predicted to grow with the moderate CAGR due to developing construction
industry and expanding middle class populace in India and China. Moreover,
rising awareness about durable coatings and environmental concerns in various
economies of Asia Pacific such as China, India, Malaysia, Thailand, and Japan
is expected to raise the demand for ecofriendly based decorative coatings which
in turn is predicted to fuel the demand for decorative coatings over the
forecast period, 2017 to 2023.
Industry Segmentation:
The Global Decorative Coatings Market is categorized on the
basis of type, technology, application, and region. On the basis of type, the
market is bifurcated into primer, enamel, emulsion, and others. On the basis of
technology, the market is segmented into water borne and solvent borne. On the
basis of application, the Decorative Coatings Market is categorized into
residential, non-residential and others. On the basis of region, the market is
categorized into Asia Pacific, Europe, Latin America, North America, and the
Middle East & Africa.
Intended Audience
- Decorative
Coatings Manufacturers
- Traders
and Distributors of Decorative Coatings
- Production
Process Industries
- Potential
Investors
- Raw
Material Suppliers
- Nationalized Laboratory
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