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What is the Current Size and Projected Growth of the Decorative Coatings Market?
The global decorative coatings market has experienced a strong trajectory of growth in recent years. From $93.5 billion in 2024, the market is projected to reach $99.88 billion in 2025, a compound annual growth rate (CAGR) of 6.8%. Factors such as increased focus on architectural and interior design trends, thriving real estate and construction industry, preference for color and aesthetics, and a flourishing commercial and hospitality sector have contributed to this historical growth phase.
The decorative coatings market isn’t slowing down, either. Looking forward, it’s projected to climb to $137.49 billion by 2029, with a CAGR of 8.3%. Emerging trends like growing health and wellness considerations, customization and personalization, an aging population and universal design, rising e-commerce and online sales, urbanization and infrastructure development are predicted to fuel this growth.
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What Are the Key Drivers of the Decorative Coatings Market?
The global surge in urbanization significantly contributes to the expansion of the decorative coatings market. As humans transition from rural to urban settings, the demand for residential and non-residential structures has witnessed a parallel surge, driving the decorative coatings industry forward. As per the United Nations Department of Economic and Social Affairs, it’s projected that by 2050, approximately 68% of the world’s population will reside in urban areas.
What Are the Major Segments in the Decorative Coatings Market?
1. Product Type: Emulsion, Wood Coatings, Enamels, Other Product Types
2. Resin Type: Acrylic, Alkyd, Vinyl, Polyurethane, Other Resin Types
3. Formulation: Water Based, Solvent Based, Powder Based
4. Application: Residential, Non-Residential
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Who Are the Major Players in the Decorative Coatings Market?
Key players 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, and Farrow & Ball Ltd.
What are the Key Trends in the Decorative Coatings Market?
Product innovation emerges as the key trend in the decorative coatings market. For instance, in June 2022, Egypt-based chemical manufacturer, Kapci Coatings, introduced new decorative products, Elegant 555 and Elegant 545. Part of the Earth Friendly initiative, these products feature a quick-drying formula, advocating the use of sustainable, water-based options in the decorative paints market.
Which Regions Are Leading and Emerging in the Decorative Coatings Market?
Asia-Pacific emerged as the largest region in the decorative coatings market in 2024. However, North America is projected to be the fastest-growing region in the forecast period.
What is the Decorative Coatings Market Report Bringing to the Table?
Decorative coatings, or architectural coatings, protect, enhance durability, and decorate buildings and structures. This market research report provides global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and various opportunities.
The Decorative Coatings Market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
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