The Worldwide Decorative Coatings Industry is Expected to Reach $91.6 Billion by 2026

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Oct 20, 2021, 16:30 ET

DUBLIN, Oct. 20, 2021 /PRNewswire/ -- The "Decorative Coatings Market Resin Type (Acrylic, Alkyd), Technology (Waterborne, Solvent-borne, Powder), User Type (DIY, Professional), Coating Type (Interior, Exterior), Application (Residential, Non-Residential), and Region - Global Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.

The decorative coatings market is projected to grow from USD 71.3 billion in 2021 to USD 91.6 billion by 2026, at a CAGR of 5.1% between 2021 and 2026. Environment-friendly characteristics, durability, and better aesthetic appearance drive consumption of decorative coatings in various applications.

Regulatory policies have a significant impact on the paints & coatings industry. Potential changes in regulations can create uncertainty throughout the value chain. This uncertainty refers to the time taken by the manufacturers at each node to accept the new regulation and adopt new technology. Different time-consuming regulatory changes in different regions can affect the raw material producers, formulators, channel partners, and end-users. With the increasing number of governments implementing stringent regulatory policies, decorative coatings producers must constantly evolve their processes to comply with the new policies and reduce VOC emissions.

Residential is projected to be the largest application of the decorative coatings market.

Residential is the largest application segment, in terms of both volume and value, between 2021 and 2026. Economic growth and higher incomes in the last few years have resulted in the construction of several new houses and the remodeling of old ones. Decorative coatings for residential construction applications include new paint and repainting. These coatings mainly include architectural and functional products, such as paints, stains, lacquers, primers, and cleaners. Decorative coatings are used in both interior and exterior applications in the residential sector. Repainting is associated with giving a new look to an old or worn-out interior and exterior of constructions.

Polyurethane is the fastest-growing resin segment of the decorative coatings market.

Polyurethane is the fastest-growing resin segment, in terms of volume, between 2021 and 2026. Polyurethanes are versatile materials, which can be tailored to achieve the required hardness, cure speeds, viscosities, and mechanical and thermal properties for many different applications. There are different types of urethane coatings in the market. Polyurethane resin imparts toughness and abrasion resistance to wood coatings, floor finishes, and coatings for other demanding applications. Other applications where polyurethane coatings can be used are heavy-duty exterior and interior structures, paper mills, power plants, offshore structures, oil field machinery, exterior surfaces of steel tanks, handrails, conveyors, and chemical processing equipment.

APAC is the fastest market for decorative coatings during the forecast period.

APAC is projected to be the largest and the fastest-growing market for decorative coatings during the forecast period. The region has witnessed significant economic growth over the last decade. APAC encompasses a diverse range of economies with different levels of economic development and multiple industries. The development is mainly attributed to the high economic growth rate followed by heavy investment across industries, such as building & construction and furniture. Key players are expanding their decorative coatings production in APAC, especially in China and India. The advantages of shifting production to the region are the low cost of production and the ability to better cater to the emerging local markets.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights
4.1 Attractive Opportunities in the Decorative Coatings Market
4.2 Decorative Coatings Market Growth, by Resin Type
4.3 Decorative Coatings Market Growth, by Technology
4.4 Decorative Coatings Market Growth, by Coating Type
4.5 APAC Decorative Coatings Market, by Technology and Country, 2020
4.6 Decorative Coatings Market: Developed Vs. Developing Countries
4.7 Decorative Coatings Market, by Country

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Growth of the Construction Industry
5.2.1.2 Environmentally-Friendly Coating Systems
5.2.1.3 Durable Coatings with Better Performance and Aesthetics
5.2.2 Restraints
5.2.2.1 Stringent and Time-Consuming Regulatory Policies
5.2.3 Opportunities
5.2.3.1 Opportunities in Less-Regulated Regions
5.2.3.2 Investments in Emerging Markets
5.2.4 Challenges
5.2.4.1 Adoption of New Technologies
5.2.4.2 Volatility in Prices of Titanium Dioxide
5.3 Porter's Five Forces Analysis
5.3.1 Threat of New Entrants
5.3.2 Threat of Substitutes
5.3.3 Bargaining Power of Buyers
5.3.4 Bargaining Power of Suppliers
5.3.5 Intensity of Competitive Rivalry
5.4 Macro Indicator Analysis
5.4.1 Introduction
5.4.2 Trends and Forecast of Gdp
5.4.3 Trends and Forecast of Global Construction Industry
5.5 COVID-19 Impact
5.6 COVID-19 Economic Assessment
5.6.1 COVID-19 Economic Impact: Scenario Assessment
5.7 Impact of COVID-19 on End-Use Industries
5.7.1 Impact on Construction Industry
5.8 Impact of COVID-19 on Regions
5.8.1 Impact of COVID-19 on APAC
5.8.2 Impact of COVID-19 on North America
5.8.3 Impact of COVID-19 on Europe
5.8.4 Impact of COVID-19 on Middle East & Africa
5.8.5 Impact of COVID-19 on South America
5.9 Value Chain Analysis
5.10 Pricing Analysis
5.11 Paints & Coatings Ecosystem and Interconnected Market
5.12 Yc and Ycc Shift
5.13 Export-Import Trade Statistics
5.14 Regulations
5.15 Patent Analysis
5.16 Case Study Analysis
5.17 Technology Analysis

6 Decorative Coatings Market, by Resin Type
6.1 Introduction
6.2 Acrylic Resin
6.2.1 Flexibility of Acrylic Resins Helps the Segment Witness the Highest Growth
6.3 Alkyd Resin
6.3.1 APAC is the Largest and Fastest-Growing Market for Alkyd Resin Segment
6.4 Vinyl Resin
6.4.1 Vinyl Copolymer is Used in Air-Drying Coatings for Its Excellent Toughness and Good Resistance to Water and Chemicals
6.5 Polyurethane Resin
6.5.1 Interiors & Furniture is One of the Major End-Users of Polyurethane Coatings
6.6 Others
6.6.1 Styrene Acrylics
6.6.2 Epoxy Resin
6.6.3 Unsaturated Polyester Resin
6.6.4 Saturated Polyester Resin

7 Decorative Coatings Market, by Technology
7.1 Introduction
7.2 Waterborne Decorative Coatings
7.2.1 in Addition to Reducing Voc Emissions During the Application, Waterborne Coatings Reduce the Risk of Fire
7.3 Solventborne Decorative Coatings
7.3.1 Solventborne Coatings Provide Almost Immediate Waterproofing Protection After Application
7.4 Powder Coatings
7.4.1 Powder Coating Technology Uses Dry Resin Powders for Coating Substrates with Thermoplastic or Thermoset Films

8 Decorative Coatings Market, by Coating Type
8.1 Introduction
8.2 Interior
8.2.1 Coatings Used to Paint Interiors Have Stain Repellency, Better Hiding Property, Durability, and Long-Lasting Performance with Application Versatility
8.3 Exterior
8.3.1 Coatings are Used on Exterior Surfaces for Decoration and General Maintenance

9 Decorative Coatings Market, by User Type
9.1 Introduction
9.2 Diy
9.2.1 Cost Constraints, Creative Control, and Forced Lockdown Influencing Homeowners to Opt for Diy Painting
9.3 Professional
9.3.1 Increasing Spending Power of Consumers Supporting Market Growth in this Segment

10 Decorative Coatings Market, by Product Type
10.1 Introduction
10.2 Emulsions
10.3 Wood Coatings
10.3.1 Varnishes
10.3.2 Stains
10.4 Enamels
10.5 Others

11 Decorative Coatings Market, by Color Type
11.1 Introduction
11.2 White
11.2.1 The Most Popular Choice of Color Used When Painting a Home is White
11.3 Others

12 Decorative Coatings Market, by Application
12.1 Introduction
12.2 Residential
12.2.1 New Construction
12.2.2 Remodel and Repaint
12.3 Non-Residential
12.3.1 Commercial
12.3.2 Industrial
12.3.3 Infrastructure

13 Decorative Coatings Market, by Region

14 Competitive Landscape
14.1 Overview
14.1.1 Overview of Strategies Adopted by Key Decorative Coatings Market Players
14.2 Competitive Scenario
14.2.1 Market Evaluation Matrix
14.3 Company Evaluation Quadrant
14.3.1 Stars
14.3.2 Emerging Leaders
14.3.3 Pervasive
14.3.4 Emerging Companies
14.4 Strength of Product Portfolio
14.5 Sme Matrix, 2020
14.5.1 Responsive Companies
14.5.2 Progressive Companies
14.5.3 Starting Blocks
14.5.4 Dynamic Companies
14.6 Decorative Coatings Market Ranking Analysis (2020): Competitive Market
14.7 Decorative Coatings Market Share
14.8 Company Revenue Analysis
14.8.1 Ppg Industries Inc.
14.8.2 The Sherwin-Williams Company
14.8.3 Akzonobel N.V.
14.8.4 Nippon Paint Holdings Co. Ltd
14.8.5 Asian Paints Limited
14.9 Competitive Situations and Trends

15 Company Profiles
15.1 Major Players
15.1.1 The Sherwin-Williams Company
15.1.2 Ppg Industries Inc.
15.1.3 Akzonobel N.V.
15.1.4 Basf Se
15.1.5 Asian Paints Limited
15.1.6 Kansai Paint Co., Ltd.
15.1.7 Nippon Paint Holdings Co. Ltd.
15.1.8 Masco Corporation
15.1.9 Jotun A/S
15.1.10 Rpm International Inc.
15.2 Other Companies
15.2.1 Hempel A/S
15.2.2 Daw Se
15.2.3 Cromology (Formerly Materis Paints)
15.2.4 Diamond-Vogel Paint Company
15.2.5 Benjamin Moore & Co.
15.2.6 Kelly-Moore Paints
15.2.7 Brillux GmbH & Co. Kg
15.2.8 Berger Paints India Limited
15.2.9 Carpoly Chemical Group Co., Ltd.
15.2.10 Cloverdale Paint Inc.
15.2.11 Sto Corp
15.2.12 Lanco Paints
15.2.13 Guangdong Maydos Building Materials Co., Ltd.
15.2.14 H-I-S Coatings & Paint Manufacturing Co.
15.2.15 Fujikura Kasei Co., Ltd.

16 Appendix

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