The Business Research Company’s report on the Decorative Coatings Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
What are the key drivers behind the decorative coatings market’s growth in recent years?
The rise in urbanization all over the globe is expected to drive the growth of the decorative coatings market going forward. Urbanization refers to the population movement from rural to urban settings and the increasing human population densities in urban areas. The need for residential and non-residential structures is expanding as a result of urbanization, which will propel the decorative coatings industry forward. For instance, according to the United Nations Department of Economic and Social Affairs, 68% of the world’s population, or 2.5 billion people, are projected to live in urban areas by 2050. Therefore, the rise in urbanization all over the globe is driving the growth of the decorative coatings market.
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How does the future projection of the decorative coatings market size compare to its historical growth?
The decorative coatings market size has grown strongly in recent years. It will grow from $93.5 billion in 2024 to $99.88 billion in 2025 at a compound annual growth rate (CAGR) of 6.8%. The growth in the historic period can be attributed to increased focus on architectural and interior design trends, growth of real estate and construction industry, renovation and remodeling projects, color and aesthetics preferences, and commercial and hospitality sector.
The decorative coatings market size is expected to see strong growth in the next few years. It will grow to $137.49 billion in 2029 at a compound annual growth rate (CAGR) of 8.3%. The growth in the forecast period can be attributed to growing health and wellness considerations, customization and personalization, aging population and universal design, growing e-commerce and online sales, emerging market growth, and urbanization and infrastructure development. Major trends in the forecast period include sustainable and low-voc coatings, digital color matching and visualization, smart and functional coatings, advancements in technology, and introdcution of antimicrobial or allergen-reducing properties.
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Which key players are shaping the future of the decorative coatings market?
Major companies operating in the decorative coatings market include PPG Industries Inc., Akzonobel NV, Sherwin-Williams Co., Valspar Corp., Asian Paints Ltd., Berger Paints Ltd., Cabot Corporation, DAW SE, Jotun Paints Ltd., Masco Corp., Brillux GmbH & Co. KG, BASF SE, Vogel Paint and Wax Company, Kansai Paint Co. Ltd., Kelly-Moore Paints Company Inc., RPM International Inc., Nippon Paint Holdings Co. Ltd., Axalta Coating Systems Ltd., Teknos AG, Mankiewicz India Pvt. Ltd., Meffert AG Farbwerke, Cromology SL, Tikkurila OYJ, Hempel AS, Clariant AG, Benjamin Moore & Co., Dunn-Edwards Corporation, Behr Process Corporation, Farrow & Ball Ltd.
What trends will propel the growth and evolution of the decorative coatings market?
New product innovations have emerged as a key trend gaining popularity in the decorative coatings market. Major companies operating in the sector of decorative coatings are focused on developing advanced products to strengthen their position. For instance, in June 2022, Kapci Coatings, a Egypt-based chemical manufacturing company, launched new decorative products Elegant 555 and Elegant 545. These innovative decorative products come with a quick-drying formula. Part of the Earth Friendly initiative, these products aim to promote the use of more sustainable, water-based options in the decorative paints market.
Which regions are expected to become dominant players in the decorative coatings market?
Asia-Pacific was the largest region in the decorative coatings market in 2024. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the decorative coatings market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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What are the emerging key segments in the decorative coatings market, and how are they evolving?
The decorative coatings market covered in this report is segmented –
1) By Product Type: Emulsion, Wood Coatings, Enamels, Other Product Types
2) By Resin Type: Acrylic, Alkyd, Vinyl, Polyurethane, Other Resin Types
3) By Formulation: Water Based, Solvent Based, Powder Based
4) By Application: Residential, Non-Residential
Subsegments:
1) By Emulsion: Acrylic Emulsions, Vinyl Acetate Emulsions, Styrene-Butadiene Emulsions
2) By Wood Coatings: Stains, Varnishes, Sealants, Lacquers
3) By Enamels: Oil-Based Enamels, Water-Based Enamels, Spray Enamels
4) By Other Product Types: Primers, Specialty Coatings, Thinners and Additives
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How is the decorative coatings market defined?
The decorative coatings are applied to buildings and structures for protection, durability, and decoration purposes. Decorative coatings, also known as architectural coatings, consist of paints and coatings used to coat buildings and homes that are designed for a specific use, such as to protect against the wear and tear of a building’s walls.
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