Categories: Market Research

Global Decorative Coatings Market Size and Forecast 2023-2032|PPG Industries Inc., Akzonobel NV, Sherwin-Williams Co., Valspar Corp., Asian Paints Ltd., Berger Paints Ltd

The Decorative Coatings Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Decorative Coatings Global Market Report 2024, The decorative coatings market size has grown strongly in recent years. It will grow from $87.84 billion in 2023 to $94.12 billion in 2024 at a compound annual growth rate (CAGR) of 7.1%. 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 $125.44 billion in 2028 at a compound annual growth rate (CAGR) of 7.4%. 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.

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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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

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 November 2021, Covestro AG, a Germany-based manufacturer of premium polymers, introduced Decovery SP-8310, a breathable, multi-purpose resin with a 37 percent bio-based composition, to enable exterior coatings with better outdoor durability. The new solution, which is a member of Covestro’s Decovery® family of resins with up to 52 percent bio-based content, meets the demand for more durable outdoor coatings in the decorative coating industry.

The decorative coatings market report table of contents includes:

1. Executive Summary

2. Decorative Coatings Market Characteristics

3. Decorative Coatings Market Trends And Strategies

4. Decorative Coatings Market – Macro Economic Scenario

5. Global Decorative Coatings Market Size and Growth

26. South America Decorative Coatings Market

27. Brazil Decorative Coatings Market

28. Middle East Decorative Coatings Market

29. Africa Decorative Coatings Market

30. Decorative Coatings Market Competitive Landscape And Company Profiles

Top Major Players: