Synopsis of Decorative
Coatings Market:
Decorative Coatings 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.
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
share 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.
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.
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.
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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