Color intensity, gloss, hiding power, light fastness and weathering resistance are the properties can be maximized by utilizing Decorative Coatings. They have major applications in residential and non-residential properties. Decorative coating for protection of wall and ceiling surfaces of different compositions. Coating metal objects not only gives them protection, but also charm and warmth, diversity and attractive appearance.
Some of the prominent factors that positively influence the growth of Decorative Coatings Market are increasing construction activities, rising demand for colorants, and increasing urbanization. Increasing urbanization along with rising per capita disposable income in the developed and emerging economies are predicted to drive the growth of the market over the forecast period, 2017 to 2023. High adoption rate along with the increasing housing constructions to meet the ever-growing population is yet another reason for the market to grow. Moreover, continuous innovation and new technologies in Decorative Coatings as well as shifting manufacturers focus towards ecofriendly Decorative Coatings are estimated to fuel the growth of the market during the review period, 2017 to 2023. However, growing environmental concern regarding the toxic effect of chemicals used in Decorative Coatings along with the implementation of strict regulations are predicted to hinder the market growth over the assessment period, 2017 to 2023.
Key Players:
Some of the prominent players operating in the Global Decorative Coatings Market are BASF SE (Germany), PPG Industries Inc. (U.S.), The Sherwin-Williams Company (U.S.), Akzo Nobel N.V. (the Netherlands), Asian Paints Limited (Switzerland), Kansai Paint Co., Ltd. (U.S.), The Valspar Corporation (U.S.), Arkema S.A. (France), Nippon Paints Co. Ltd (Japan), and Tikkurila Oyj (Finalnd) among others.
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Regional Analysis:
Asia Pacific is estimated to be the largest Decorative Coatings Market followed by North America and Europe due to strong existence of construction activities. In Europe, Germany, Russia, and Spain are predicted to register a strong growth on account of tremendous demand for decorative coatings in furniture sector. In Asia Pacific, countries such as China, India, and South Korea are the fastest growing market for decorative coatings, and is estimated to grow with the same pace over the forecast period. Improving living standards along with the flourishing growth of middle class population and their purchasing power is predicted to contribute to the regional market growth. In North America, U.S and Mexico are among the major contributors in the regional market growth due to increasing renovation activities and furniture market as well as increasing innovations. In Latin America, Mexico is expected to register moderate growth due to the ongoing financial crisis.
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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.
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