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.
Market Insight:
Color intensity, gloss, hiding power, light fastness and
weathering resistance are the properties can be maximized by utilizing Decorative
Coatings Market. 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.
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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.
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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