Market Overview:
Decorative Coatings are known for their ability
to produce a special coating on the surface of several materials to protect
them from any adverse impacts. These decorative coatings can be used as a
protectant & colorant for metal. It can protect wooden & concrete
structures from getting bleached. It can also prevent chalking and general
deterioration. In the market, there are two types available; Water-borne and
solvent-borne. Both these segments contribute notably to the growth of the
market. Their ability to protect plastic and metal components can also be taken
into account for a better understanding. The construction industry can spur the
global market for decorative coatings between 2018 and 2023, which MRFR has
considered as the forecast period for the report.
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The rising population, better disposable
income, growing industrialization & urbanization, and others can be taken
into account for a detailed reading of the prospect of the decorative coatings
market. However, the market is witnessing a surge in the implementation of
stringent policies that can deter the growth rate of the market. However,
innovations can assist the market in finding back the lost grounds.
Competitive Analyses
·
PPG
Industries Inc.
·
BASF
SE
·
Akzo
Nobel N.V.
·
The
Sherwin-Williams Company
·
Kansai
Paint Co., Ltd.
·
Asian
Paints Limited
·
Nippon
Paints Co. Ltd
·
Arkema
S.A.
·
The
Valspar Corporation
·
Tikkurila
Oyj
In October 2019, Intevac, Inc, announced the launch of its
DiamondClad, which can be termed as a superlative decorative painting. The product
is a type of scratch-proof solution. It
has high optical clarity and better durability than its older versions.
Market Segmentation:
The report published by MRFR, with an intent to
see the Global Decorative Coatings Market from a close quarter, segments the
market on the basis of technology, type, and application. Such a segmentation
has a better understanding of various market influencers and that study has
been backed by volume-wise and value-specific understanding of the market.
By type, the market for the Decorative
Coatings can be segmented into the emulsion, enamel, primer, and others. Decorative
Metal Coatings would trigger the high inclusion of these segments in the coming
years.
By technology, the market report relying on the
decorative coatings market can be segmented into water-borne and solvent-borne.
Inclusion of eco-friendly ways to inspire better growth for the water-borne
segment in the coming years.
By application, the decorative coatings market
can be segmented into non-residential, residential, and others. Both
residential and non-residential segments can witness high growth in demand for decorative
coatings for concrete.
Regional Analysis:
The global market for decorative coatings, as
predicted in the report published by MRFR, would see the Asia Pacific region as
the fastest-growing region during the forecast period of 2017 and 2023. This
would gain much from the expanding construction industry. The Middle East &
Africa can also promise high growth for the market with a significant hike in
the construction industry in countries like Dubai, Saudi Arabia, and others.
Dubai is projecting itself as a major tourist and business destination owing to
which several construction-related activities are going on. This can fetch a
high amount of revenues.
North America’s growth in the market would be
superlative with several countries like the US and others making a significant
impact on the market. The US was the largest contributing country in 2016. In
Europe, the growth would be triggered by countries like Germany, Russia, the
UK, France, and others. The growth would gain much traction from rising
construction and renovation activities.
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