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
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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 | 2022 to 2030 |
| Historical Data | 2019 & 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, |
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.
