Decorative Coatings Market Size to Reach Revenues of over USD 78 Billion by 2026 - Arizton

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Apr 23, 2021, 11:00 ET

CHICAGO, April 23, 2021 /PRNewswire/ -- In-depth analysis and data-driven insights on the impact of COVID-19 included in this global decorative coatings market report.

The decorative coatings market is expected to grow at a CAGR of over 5% during the period 2020−2026.

Key Highlights Offered in the Report:

The global decorative coating and paints market is witnessing high growth on account of growing number end-use industries and technological advancements. The economic growth in developing countries, investments on infrastructure, and construction sector stringent environmental regulations, growing purchasing power, and rising demand for green and environmentally friendly coatings are leading the growth of the market.
APAC region accounted for the largest share in the global decorative coatings market. A rise in population and initiatives taken by governments towards spending on infrastructure development is boosting the decorative coatings in APAC region.
Acrylic resin is the widely used resin in manufacturing of decorative coatings, due to good weather resistance, retains color and gloss, has excellent durability, and is resistant to water and UV rays. Additionally, acrylic resins are easy to apply, stable under extremely cold temperature, and cost effective compared to other materials. This resin segment accounted for around 58% contribution in the global decorative coatings market.
The emulsion based decorative coatings contributed approximately 35% of the total global decorative coatings market. Emulsion paints are best for the household purposes as they are easy to clean and maintain and does not have odors that come from oil-based emulsion paints.
The residential sector has the highest contribution in the global decorative coatings market.
The water-borne coatings technology was widely adopted by manufacturers due to its eco-friendly nature and possess zero to low VOCs emissions.

Key Offerings:

Market Size & Forecast by Revenue | 2020-2026
Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
Market Segmentation – A detailed analysis by resin type, formation, product, end-user, surface type, and geography
Competitive Landscape – 5 key vendors and 32 other vendors

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Decorative Coatings Market – Segmentation

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.
The water-borne decorative coatings market is expected to reach over USD 51 billion by 2026. Stringency on VOC and emission standards regulations have contributed to the market growth. These regulations have increased the demand for water-borne coatings in the APAC region.
Emulsion-based paints are becoming increasingly popular among consumers as they are less toxic with no odor and release a small quantity of VOCs. These paints have witnessed enormous growth over the past few years with rapid urbanization, the revival of the economy, and increased disposable incomes.

Decorative Coatings Market by Resin Type

Acrylic
Alkyd
Vinyl
Polyurethane
Others

Decorative Coatings Market by Formation

Waterborne
Solvent-based
Powder-based
UV Cured

Decorative Coatings Market by Product

Emulsion
Enamels
Primer
Others

Decorative Coatings Market by End-user

Residential

New Construction
Renovating & Remodeling Activities
DIY

Non-residential

Infrastructure
Industrial
Commercial

Decorative Coatings Market by Surface Type

Interior
Exterior

Decorative Coatings Market – Dynamics

With the demand for aesthetics and environment-friendly coatings, durability has also improved. Current demographic, socio-economic, and regulatory factors are also necessitating a longer product lifetime. Increasing reference to high-performance has played an important role, especially in commercial and institutional applications. Major coating manufacturers in APAC are working on smart coatings, which will improve mold and dirt resistance, and environment-friendly coatings that are water-borne, reduce the concentration of VOCs, and are formaldehyde-free. The preference for water-borne coatings in decorative paints has resulted in a 75% reduction in VOCs in Canada. Moreover, powder-based and UV-cured coating technologies are expected to rise in the upcoming years, as these are environment-friendly.

Key Drivers and Trends fueling Market Growth:

Remodeling and Repaint in the Construction Sector
Introduction of DIY Paint
Anti-Microbial Coatings
Alternatives to Decorative Paints

Decorative Coatings Market – Geography

North America, which includes the key countries of the US and Canada, constitutes a significant region as it hosts the most advanced and largest economies of the world. The US is the major revenue contributor to the North American decorative coatings market. Canada is likely to experience healthy growth during the forecast period. The growth in this region is mainly attributed to the rising economic growth, coupled with residential constructions, establishments of new businesses, the expansion of commercial spaces, and increasing disposable incomes. The market for decorative coatings in North America is driven by the growth in construction, residential, home improvements, and industrialization sectors. Renovation activities also drive the market for decorative coatings.

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Decorative Coatings Market by Geography

North America

US
Canada

Europe

UK
Germany
France
Russia
Spain
Italy

APAC

China
Japan
South Korea
India
Thailand
Indonesia

Latin America

Brazil
Mexico

Middle East & Africa

Saudi Arabia
South Africa
UAE

Major Vendors

AkzoNobel
PPG industries
Sherwin Williams
RPM International Inc
Axalta Coatings System

Other Prominent Vendors

Arkema
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

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About Arizton:

Arizton Advisory and Intelligence is an innovation and quality-driven firm, which offers cutting-edge research solutions to clients across the world. We excel in providing comprehensive market intelligence reports and advisory and consulting services.

We offer comprehensive market research reports on industries such as consumer goods & retail technology, automotive and mobility, smart tech, healthcare, and life sciences, industrial machinery, chemicals and materials, IT and media, logistics and packaging. These reports contain detailed industry analysis, market size, share, growth drivers, and trend forecasts.

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SOURCE Arizton Advisory & Intelligence