Decorative Coatings Market Research Report- Forecast to 2030

Decorative Coatings Market Research Report – by Type (Primer, Enamel, Emulsion and Others), by Technology (Water Borne and Solvent Borne), by Application (Residential, Non-Residential and Others) and by Region - Forecast till 2030

ID: MRFR/CnM/3646-HCR | February 2021 | Region: Global | 137 Pages         

Table of Contents:

1 Executive Summary

2 Scope of the Report

2.1 Market Definition

2.2 Scope of the Study

2.2.1 Research Objectives

2.2.2 Assumptions & Limitations

2.3 Markets Structure

3 Market Research Methodology

3.1 Research Type

3.2 Secondary Research

3.3 Primary Research

3.4 Forecast Model

4 Market Landscape

4.1 Five Forces Analysis

4.1.1 Threat of New Entrants

4.1.2 Bargaining power of buyers

4.1.3 Threat of substitutes

4.1.4 Segment rivalry

4.2 Value Chain/Supply Chain of Global Decorative Coatings Market

5 Industry Overview of Global Decorative Coatings Market

5.1 Introduction

5.2 Growth Drivers

5.3 Impact analysis

5.4 Market Challenges

6 Market Trends

6.1 Introduction

6.2 Growth Trends

6.3 Impact analysis

7. Global Decorative Coatings Market by Type

7.1 Introduction

7.2 Primer

7.2.1 Market Estimates & Forecast, 2020-2027

7.2.2 Market Estimates & Forecast by Region, 2020-2027

7.3 Enamel

7.3.1 Market Estimates & Forecast, 2020-2027

7.3.2 Market Estimates & Forecast by Region, 2020-2027

7.4 Emulsion

7.4.1 Market Estimates & Forecast, 2020-2027

7.4.2 Market Estimates & Forecast by Region, 2020-2027

7.5 Others

7.5.1 Market Estimates & Forecast, 2020-2027

7.5.2 Market Estimates & Forecast by Region, 2020-2027

8. Global Decorative Coatings Market by Technology

8.1 Introduction

8.2 Water Borne

8.2.1 Market Estimates & Forecast, 2020-2027

8.2.2 Market Estimates & Forecast by Region, 2020-2027

8.3 Solvent Borne

8.3.1 Market Estimates & Forecast, 2020-2027

8.3.2 Market Estimates & Forecast by Region, 2020-2027

9. Global Decorative Coatings Market by Application

9.1 Introduction

9.2 Residential

9.2.1 Market Estimates & Forecast, 2020-2027

9.2.2 Market Estimates & Forecast by Region, 2020-2027

9.3 Non-Residential

9.3.1 Market Estimates & Forecast, 2020-2027

8.3.2 Market Estimates & Forecast by Region, 2020-2027

9.4 Others

9.4.1 Market Estimates & Forecast, 2020-2027

9.4.2 Market Estimates & Forecast by Region, 2020-2027

10. Global Decorative Coatings Market by Region

10.1 Introduction

10.2 North America

10.2.1 Market Estimates & Forecast, 2020-2027

10.2.2 Market Estimates & Forecast by Type, 2020-2027

10.2.3 Market Estimates & Forecast by Technology, 2020-2027

10.2.4 U.S.

10.2.4.1 Market Estimates & Forecast, 2020-2027

10.2.4.2 Market Estimates & Forecast by Type, 2020-2027

10.2.4.3 Market Estimates & Forecast by Technology, 2020-2027

10.2.5 Canada

10.2.5.1 Market Estimates & Forecast, 2020-2027

10.2.5.2 Market Estimates & Forecast by Type, 2020-2027

10.2.5.3 Market Estimates & Forecast by Technology, 2020-2027

10.2.6 Mexico

10.2.6.1 Market Estimates & Forecast, 2020-2027

10.2.6.2 Market Estimates & Forecast by Type, 2020-2027

10.2.6.3 Market Estimates & Forecast by Technology, 2020-2027

10.3 Europe

10.3.1 Market Estimates & Forecast, 2020-2027

10.3.2 Market Estimates & Forecast by Type, 2020-2027

10.3.3 Market Estimates & Forecast by Technology, 2020-2027

10.3.4 Germany

10.3.4.1 Market Estimates & Forecast, 2020-2027

10.3.4.2 Market Estimates & Forecast by Type, 2020-2027

10.3.4.3 Market Estimates & Forecast by Technology, 2020-2027

10.3.5 Italy

10.3.5.1 Market Estimates & Forecast, 2020-2027

10.3.5.2 Market Estimates & Forecast by Type, 2020-2027

10.3.5.3 Market Estimates & Forecast by Technology, 2020-2027

10.3.6 U.K

10.3.6.1 Market Estimates & Forecast, 2020-2027

10.3.6.2 Market Estimates & Forecast by Type, 2020-2027

10.3.6.3 Market Estimates & Forecast by Technology, 2020-2027

10.4 Asia Pacific

10.4.1 Market Estimates & Forecast, 2020-2027

10.4.2 Market Estimates & Forecast by Type, 2020-2027

10.4.3 Market Estimates & Forecast by Technology, 2020-2027

10.4.4 China

10.4.4.1 Market Estimates & Forecast, 2020-2027

10.4.4.2 Market Estimates & Forecast by Type, 2020-2027

10.4.4.3 Market Estimates & Forecast by Technology, 2020-2027

10.4.5 India

10.4.5.1 Market Estimates & Forecast, 2020-2027

10.4.5.2 Market Estimates & Forecast by Type, 2020-2027

10.4.5.3 Market Estimates & Forecast by Technology, 2020-2027

10.4.6 Japan

10.4.6.1 Market Estimates & Forecast, 2020-2027

10.4.6.2 Market Estimates & Forecast by Type, 2020-2027

10.4.6.3 Market Estimates & Forecast by Technology, 2020-2027

10.4.7 Rest of Asia Pacific

10.4.7.1 Market Estimates & Forecast, 2020-2027

10.4.7.2 Market Estimates & Forecast by Type, 2020-2027

10.4.7.3 Market Estimates & Forecast by Technology, 2020-2027

10.5 Middle East & Africa

10.5.1 Market Estimates & Forecast, 2020-2027

10.5.2 Market Estimates & Forecast by Type, 2020-2027

10.5.3 Market Estimates & Forecast by Technology, 2020-2027

10.5.4 Saudi Arabia

10.5.4.1 Market Estimates & Forecast, 2020-2027

10.5.4.2 Market Estimates & Forecast by Type, 2020-2027

10.5.4.3 Market Estimates & Forecast by Technology, 2020-2027

10.5.5 Qatar

10.5.5.1 Market Estimates & Forecast, 2020-2027

10.5.5.2 Market Estimates & Forecast by Type, 2020-2027

10.5.5.3 Market Estimates & Forecast by Technology, 2020-2027

10.5.6 North Africa

10.5.6.1 Market Estimates & Forecast, 2020-2027

10.5.6.2 Market Estimates & Forecast by Type, 2020-2027

10.5.6.3 Market Estimates & Forecast by Technology, 2020-2027

10.5.7 GCC

10.5.7.1 Market Estimates & Forecast, 2020-2027

10.5.7.2 Market Estimates & Forecast by Type, 2020-2027

10.5.7.3 Market Estimates & Forecast by Technology, 2020-2027

10.5.8 Rest of Middle East & Africa

10.5.8.1 Market Estimates & Forecast, 2020-2027

10.5.8.2 Market Estimates & Forecast by Type, 2020-2027

10.5.8.3 Market Estimates & Forecast by Technology, 2020-2027

10.6 Latin America

10.6.1 Market Estimates & Forecast, 2020-2027

10.6.2 Market Estimates & Forecast by Type, 2020-2027

10.6.3 Market Estimates & Forecast by Technology, 2020-2027

10.6.4 Brazil

10.6.4.1 Market Estimates & Forecast, 2020-2027

10.6.4.2 Market Estimates & Forecast by Type, 2020-2027

10.6.4.3 Market Estimates & Forecast by Technology, 2020-2027

10.6.5 Argentina

10.6.5.1 Market Estimates & Forecast, 2020-2027

10.6.5.2 Market Estimates & Forecast by Type, 2020-2027

10.6.5.3 Market Estimates & Forecast by Technology, 2020-2027

10.6.6 Uruguay

10.6.6.1 Market Estimates & Forecast, 2020-2027

10.6.6.2 Market Estimates & Forecast by Type, 2020-2027

10.6.6.3 Market Estimates & Forecast by Technology, 2020-2027

10.6.7 Rest of Latin America

10.6.7.1 Market Estimates & Forecast, 2020-2027

10.6.7.2 Market Estimates & Forecast by Type, 2020-2027

10.6.7.3 Market Estimates & Forecast by Technology, 2020-2027

11. Company Landscape

12. Company Profiles

12.1 BASF SE

12.1.1 Company Overview

12.1.2 Product/Business Segment Overview

12.1.3 Financial Updates

12.1.4 Key Developments

12.2 PPG Industries Inc.

12.2.1 Company Overview

12.2.2 Product/Business Segment Overview

12.2.3 Financial Updates

12.2.4 Key Developments

12.3 The Sherwin-Williams Company

12.3.1 Company Overview

12.3.2 Product/Business Segment Overview

12.3.3 Financial Updates

12.3.4 Key Developments

12.4 Akzo Nobel N.V.

12.4.1 Company Overview

12.4.2 Product/Business Segment Overview

12.4.3 Financial Updates

12.4.4 Key Developments

12.5 Asian Paints Limited

12.5.1 Company Overview

12.5.2 Product/Business Segment Overview

12.5.3 Financial Updates

12.5.4 Key Developments

12.6 Kansai Paint Co., Ltd.

12.6.1 Company Overview

12.6.2 Product/Business Segment Overview

12.6.3 Financial Updates

12.6.4 Key Developments

12.7 The Valspar Corporation

12.7.1 Company Overview

12.7.2 Product/Business Segment Overview

12.7.3 Financial Updates

12.7.4 Key Developments

12.8 Arkema S.A.

12.8.1 Company Overview

12.8.2 Product/Business Segment Overview

12.8.3 Financial Updates

12.8.4 Key Developments

12.9 Nippon Paints Co. Ltd

12.9.1 Company Overview

12.9.2 Product/Business Segment Overview

12.9.3 Financial Updates

12.9.4 Key Developments

12.10 Tikkurila Oyj

12.10.1 Company Overview

12.10.2 Product/Business Segment Overview

12.10.3 Financial Updates

12.10.4 Key Developments

13 Conclusion

List of Tables:

Table 1 World Population by Major Regions (2020-2027)

Table 2 Global Decorative Coatings Market: By Region, 2020-2027

Table 3 North America Decorative Coatings Market: By Country, 2020-2027

Table 4 Europe Decorative Coatings Market: By Country, 2020-2027

Table 5 Asia-Pacific Decorative Coatings Market: By Country, 2020-2027

Table 6 Middle East & Africa Decorative Coatings Market: By Country, 2020-2027

Table 7 Latin America Decorative Coatings Market: By Country, 2020-2027

Table 8 Global Decorative Coatings by Type Market: By Regions, 2020-2027

Table 9 North America Decorative Coatings by Type Market: By Country, 2020-2027

Table10 Europe Decorative Coatings by Type Market: By Country, 2020-2027

Table11 Asia-Pacific Decorative Coatings by Type Market: By Country, 2020-2027

Table12 Middle East & Africa Decorative Coatings by Type Market: By Country, 2020-2027

Table13 Latin America Decorative Coatings by Type Market: By Country, 2020-2027

Table14 Global Decorative Coatings by Technology Market: By Regions, 2020-2027

Table15 North America Decorative Coatings by Technology Market: By Country, 2020-2027

Table16 Europe Decorative Coatings by Technology Market: By Country, 2020-2027

Table17 Asia-Pacific Decorative Coatings by Technology Market: By Country, 2020-2027

Table18 Middle East & Africa Decorative Coatings by Technology Market: By Country, 2020-2027

Table19 Latin America Decorative Coatings by Technology Market: By Country, 2020-2027

Table20 North America Decorative Coatings for Application Market: By Country, 2020-2027

Table21 Europe Decorative Coatings for Application Market: By Country, 2020-2027

Table22 Asia-Pacific Decorative Coatings for Application Market: By Country, 2020-2027

Table23 Middle East & Africa Decorative Coatings for Application Market: By Country, 2020-2027

Table24 Latin America Decorative Coatings for Application Market: By Country, 2020-2027

Table25 Global Type Market: By Region, 2020-2027

Table26 Global Application Market: By Region, 2020-2027

Table27 Global Application Market: By Region, 2020-2027

Table28 North America Decorative Coatings Market, By Country

Table29 North America Decorative Coatings Market, By Type

Table30 North America Decorative Coatings Market, By Technology

Table31 North America Decorative Coatings Market, By Application

Table32 Europe: Decorative Coatings Market, By Country

Table33 Europe: Decorative Coatings Market, By Type

Table34 Europe: Decorative Coatings Market, By Technology

Table35 Europe: Decorative Coatings Market, By Application

Table36 Asia-Pacific: Decorative Coatings Market, By Country

Table37 Asia-Pacific: Decorative Coatings Market, By Type

Table38 Asia-Pacific: Decorative Coatings Market, By Technology

Table39 Asia-Pacific: Decorative Coatings Market, By Application

Table40 Middle East & Africa: Decorative Coatings Market, By Country

Table41 Middle East & Africa Decorative Coatings Market, By Type

Table42 Middle East & Africa Decorative Coatings Market, By Technology

Table43 Middle East & Africa: Decorative Coatings Market, By Application

Table44 Latin America: Decorative Coatings Market, By Country

Table45 Latin America Decorative Coatings Market, By Type

Table46 Latin America Decorative Coatings Market, By Technology

Table47 Latin America: Decorative Coatings Market, By Application

List of Figures:

FIGURE 1 Global Decorative Coatings market segmentation

FIGURE 2 Forecast Methodology

FIGURE 3 Five Forces Analysis of Global Decorative Coatings Market

FIGURE 4 Value Chain of Global Decorative Coatings Market

FIGURE 5 Share of Global Decorative Coatings Market in 2020, by country (in %)

FIGURE 6 Global Decorative Coatings Market, 2020-2027,

FIGURE 7 Sub segments of Type

FIGURE 8 Global Decorative Coatings Market size by Type, 2020

FIGURE 9 Share of Global Decorative Coatings Market by Type, 2020-2027

FIGURE 10 Global Decorative Coatings Market size by Technology, 2020

FIGURE 11 Share of Global Decorative Coatings Market by Technology, 2020-2027

FIGURE 12 Global Decorative Coatings Market size by Application, 2020

FIGURE 13 Share of Global Decorative Coatings Market by Application, 2020-2027

Decorative Coatings Market Speak to Analyst Request a Free Sample

Decorative Market Overview


In 2019, the decorative market value is registered as US$ 85.783 billion, and is predicted that the decorative coatings market size is reached US$ 112.431 billion & exhibits a significant CAGR of 4.61% during the forecast period 2021-2028.


Decorative coatings are one type of paint or coating material that is used for improving the physical strength and aesthetic appeal of the surfaces where it is applied. These are used for coating on metal objects and plastic materials. These are also used as a colorant and protectant for metal, wooden, and concrete structures against chalking, bleaching, and general deterioration. It protects the buildings from harsh weather and external conditions like extreme temperature, UV radiation, acid rain, and foreign particles.


Moreover, these coatings have various applications and among them, the major application is enhancing the visual appeal of substrates in coating walls, ceilings, furniture, and wooden flooring of the buildings. The major application of the decorative coatings market is the construction industry. According to the United States Census Bureau report, construction spending has increased from US$ 788,322 million to US$ 1,293,982 million between 2011 to 2018 in the US.


COVID-19 Analysis:


Due to the COVID-19 outbreak, the decorative coatings market is negatively impacted and this slowdown is expected to continue for the next couple of years. To curb the spread of the coronavirus, most of the country’s governments have imposed various regulations like lockdowns, shutdowns of manufacturing industries & educational sectors, transportation bans, etc. Due to these shutdown factors, the global decorative coatings market once-thriving with increased investment was suddenly affected drastically.


The manufacturing industries are facing many issues like lack of labor, shortage of raw materials, supply chain bottlenecks of materials & bottleneck that may lead to a delay in the project’s production for the ongoing funded projects that may result in the reduction of investments in the upcoming projects. As the production is paused for some days, companies are dealing with missing sales and supply disrupted chains to return their investment and increase their demand over the market. Rapidly, after reducing the corona cases, the demand over the decorative coatings industry market accelerates.


Market Dynamics:


Drivers:


Rapid growth in Human Development Index (HDI), growing demand for dazzling colors that are in resonance with environmental regulations, rise in expenditure on construction activities are the few prominent market trends that increase the growth of the decorative coatings market. The growing population and the necessity to lodge the expanding population are some of the major driving factors that accelerate the demand for the decorative coatings market.


Growing renovation and colorants customization coupled with growing disposable income in the emerging economies is anticipated to accelerate the decorative coatings market growth during the forecast period. 


Restraint:


Stringent regulations by various country’s governments have restricted the use of toxic organic chemicals that are used in the production of decorative coatings. Hence, these coatings are restraining the growth of the market. Apart, variation in raw material prices which includes epoxy, acrylic, alkyd, and titanium dioxide is hindering the market growth.


Opportunities:


The advanced technologies that include Nano TiO2 photocatalysts, green coatings, and the introduction of methods to reduce the drying time may create an opportunity to escalate the demand for decorative coatings during the assessment period. The rise in the R & D investments coupled with ongoing product development that improves the performance of the product is boosting the market growth in the coming seven years.


Challenges:


Harmful environmental effects due to solvent-borne coatings may serve as a major challenge over the next seven years.


Study Objectives -



  • To provide detailed information about the decorative coatings market structure along with various forecast segments and sub-segments for the next 10 years.

  • To provide the factors that are affecting the growth of the decorative coatings market value.

  • To analyze the decorative coatings market industry analysis based on porter’s five force analysis, factors-price analysis, supply chain analysis, etc.

  • To provide history and forecast revenue segments and sub-segments of the decorative coatings market revenue for the main geographies.

  • To provide the country-level analysis of the current decorative coatings market size and future prospective.

  • To provide country-level analysis of the decorative coatings market industry growth by region, form, and application.

  • To provide a strategic profile of the prominent key players in the market, analyze their core competencies, and draw a global decorative coatings market growth landscape.

  • To track and analyze new product developments, strategic alliances, and global decorative coatings market research.


Segment Overview:


The global decorative coatings market revenue has been divided into segments based on technology, type, application, and region.


Based on Type


Based on type decorative coatings market is segmented into the emulsion, enamel, primer, and others. Among these types, emulsions are accounting for the largest market share and are predicted to witness significant growth due to their low VOC and VAC content makes them eco-friendly. Moreover, the other characteristics like easy handling, non-flammability, and storage are boosting the demand during the review period. Primer is predicted to witness profitable growth as it acts as a leveler and protector which makes the coatings smooth. 


Based on Technology


Based on technology the decorative coatings market is bifurcated into two types as solvent-borne and water-borne. For its heat resistance, excellent adhesion, and abrasion properties, water-borne technology is expected to hold the largest market share. Apart, the advantages compared to solvent-borne is less toxicity, less flammability, and the reduction of air emissions may augment the demand during the assessment period.


Solvent-borne technology may lose its market share due to its including of VOCs and Hazardous Air Pollutants (HAP) that contains toluene, xylene, ethylbenzene, and methyl ethyl ketone and is very expensive compared to water-borne technology.


Based on Application


By application, the global decorative coatings market is categorized into various types such as non-residential, residential, and others. Among them, residential application is holding the largest decorative coatings market share and is projected to witness high gain for the next seven years due to the growing fast-growing population, rising government spending, and continuous progress on infrastructure projects. Moreover, the growth in the trend of DIY among consumers will propel the consumption of residential applications.


Based on Region


Region-wise, the global decorative coatings market is categorized into Middle East & Africa, Asia Pacific, Europe, Latin America, and North America. Among these regions, Asia-Pacific is accounting for the largest market share for expanding the construction industry.


Regional Analysis -


Geographically, the decorative coatings market based on regions is analyzed into Asia-Pacific, Europe, Latin America, North America, and the Middle East & Africa. Out of these regions, Asia-Pacific is dominating the largest decorative coatings market share for its expansion in the construction industry and increasing middle-class population. Due to the high adoption rate of the construction industry, the demand for global decorative coatings is increasing in emerging economies of the Middle East & Africa like the United Arab Emirates, Saudi Arabia, Iran, and Kuwait. Moreover, Due to the growing awareness about durable coatings and the environmental concerns, and rising demand for eco-friendly-based decorative coatings, Asia-Pacific is expected to grow at moderate CAGR.


For its high consumption potential, rising production capacities, and increasing economic growth rate, North America is expected to witness tremendous growth during the forecast period. For the application of decorative coatings in the furniture sector, the U.S. holds one of the largest market shares in terms of value & volume and is expected to grow with a moderate CAGR. Due to the growing expenditure in innovation and increasing purchasing power of consumers, the demand for decorative coatings is anticipated to grow in various countries in Europe such as Italy, Germany, Spain, U.K, France, and Russia. In addition to that, the presence of major decorative coatings manufacturers in Germany is projected to boost the growth in this region.


Competitive Landscape


The prominent key players in the decorative coatings market outlook are the following:



  • 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)

  • Tikkurila Oyj (Finland)


Recent Developments



  • In 2018, a popular enterpriser, Bergen paints planned to build a new integrated paint manufacturing plant in Uttar Pradesh with an investment of nearly INR 200 crores.

  • In July 2019, one of the leading companies, AkzoNobel invested in the Changzhou powder coatings plant in China with nearly three million Euros to add three new product lines. These product lines aim to support supplies of acrylic powder coatings and powder primes compared to others for automotive sectors and to strengthen the company’s ability to deliver more locally produced premium products.


Report Overview:


This global decorative coatings market research includes the Market Overview, COVID-19 analysis, Market Dynamics, Study Objectives, Segment Overview, Regional Analysis, Competitive Landscape, Recent developments, Segmentation Table, and FAQs. The market scenario includes the decorative coatings market drivers, restraints, challenges, and opportunities. The decorative coatings market forecast segments are type, technology, application, and region.


Segmentation Table


Globally, the decorative coatings market trends have been segmented based on the type, technology, application, and region and are further classified into sub-segments.


By Type


Emulsion, enamel, primer, and others.


By Technology


Solvent-borne and water-borne.


By Application


Non-residential, residential, and others.


By Region


The Middle East & Africa, Europe, Asia-Pacific, North America, and Latin America are the main geographies included in the decorative coatings market.



Report Scope:
Report Attribute/Metric Details
  Market Size   2030: Significant Value
  CAGR   Substantial CAGR (2022-2030)
  Base Year   2021
  Forecast Period   2022Β toΒ 2030
  Historical Data   2019Β &Β 2020
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Type, technology and application
  Geographies Covered   Asia Pacific, Europe, Latin America, North America, and the Middle East & Africa
  Key Vendors   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)
  Key Market Opportunities   Rapid rise in human development index (HDI)
  Key Market Drivers   Rising demand for dazzling colors that are in resonance with the environmental regulations and policies,


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Frequently Asked Questions (FAQ) :

The increasing demand for pleasing aesthetics in construction projects is likely to be the major driver for the global decorative coatings market.

Emulsion coatings are likely to dominate the global decorative coatings market, accounting for 35% of the market in 2016.

Water-borne decorative coatings are likely to dominate the global market over the forecast period due to their lower environmental impact than solvent-based coatings.

North America holds the largest share in the global decorative coatings market, with Asia Pacific expected to exhibit the highest CAGR over the forecast period.

Leading players in the decorative coatings market include BASF SE, PPG Industries Inc., Akzo Nobel, Asian Paints Limited, The Valspar Corporation, and Tikkurila Oyj.