growing demand from emerging economies is driving the Decorative Coatings Market

Latest News:- Decorative Coatings Market: Waterborne coatings is expected to lead the Technology segment during 2024-2028

Technavio analyzes that the Decorative Coatings Market is expected to grow at a CAGR of 4.1% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 15.80 billion.There are various factors that contribute to the growth of the market. The Decorative Coatings Market is witnessing significant growth due to increasing demand from emerging economies. These regions, particularly in Asia Pacific, are experiencing a surge in infrastructure development and urbanization, leading to a heightened focus on enhancing the aesthetic appeal of buildings and structures. This trend is driving the demand for decorative coatings, which are used to provide a protective and attractive finish to various surfaces. Additionally, the growing awareness of the benefits of using decorative coatings for energy efficiency and durability is further fueling market growth.

Decorative waterborne coatings, predominantly composed of acrylic and vinyl resins, serve as prime choices for various applications due to their superior heat and abrasion resistance, as well as exceptional adhesion properties. These eco-friendly coatings offer significant benefits, including reduced toxicity and flammability, attributed to their low volatile organic compounds (VOC) and hazardous air pollutants (HAP) emissions. The versatility of waterborne coatings extends to their usage in various sectors, such as furniture, plastics, wood, and printing inks. The market growth is driven by the increasing construction sector investments and the burgeoning demand for design services. Key advantages include cost-effectiveness, anti-sealing effects, high gloss, and superior rub resistance. Renovation projects for living rooms, kitchens, bathrooms, and commercial premises, as well as outdoor applications, greatly benefit from the durability and decorative finish provided by these coatings. 

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Decorative Coatings Market Segmentation

• Technology
  • Waterborne coatings
  • Solvent-borne coatings
  • Powder coatings
• Geography
  • APAC
  • North America
  • Europe
  • South America
  • Middle East and Africa

Top Performing Companies

As per our research findings, here are some of the key competitors that are leading the industry

• Akzo Nobel NV
• Asian Paints Ltd.
• BASF SE
• Benjamin Moore and Co.
• Carpoly Chemical Group Co. Ltd.
• Cloverdale Paint Inc.
• Cromology
• DAW SE
• Diamond Vogel
• Fujikura Co. Ltd.
• Guangdong Maydos Building Materials Ltd. Co.
• Hempel AS
• Jotun AS
• Kansai Paint Co. Ltd.
• Lanco Paints
• Masco Corp.
• PPG Industries Inc.
• RPM International Inc.
• STO Corp.
• The Sherwin Williams Co.

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Research Analysis Overview

In the Modern Age, decorative coatings have left indelible marks on civilizations, with human beings using marks and drawings on cave walls as early decorating methods. Coatings have since evolved, beautifying surfaces of furniture, walls, and interior spaces in various styles and designs, reflecting the cultural movements and personalities of different eras. Businesses and outdoor applications also benefit from the impacts of textures, finishes, and colors, enhancing the appeal of rooms, living spaces, kitchens, bathrooms, commercial premises, and outdoor areas with resistance to the elements.

Market Research Overview

The Decorative Coatings Market is a significant segment within the broader Commodity Chemicals industry. This market encompasses businesses specializing in the production of paints, pigments, and other decorative surface treatments. Notably, this sector excludes companies producing diversified chemicals, fertilizers, agricultural chemicals, industrial gases, and specialty chemicals. The Decorative Coatings Market's expansion is underpinned by the modern human civilization's inherent desire to beautify surfaces, as evidenced by ancient marks and drawings found in caves and other historical sites. In the contemporary era, this need has translated into a growing demand for advanced decorating methods and high-performance coatings. As human civilization continues to evolve, the Decorative Coatings Market is poised to capitalize on the increasing demand for aesthetically pleasing and functional coatings, particularly in the construction, automotive, and consumer goods industries.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

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Technavio Research
Jesse Maida
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