The report “Decorative Coatings Market Resin Type (Acrylic, Alkyd), Technology (Waterborne, Solvent-borne, Powder), User Type (DIY, Professional), Coating Type (Interior, Exterior), Application (Residential, Non-Residential), and Region – Global Forecast to 2026″, is projected to grow from USD 71.3 Billion in 2021 to USD 91.6 Billion by 2026, at a CAGR of 5.1% between 2021 and 2026. There is high demand for decorative coatings in the emerging markets of APAC due to the significant growth of the construction industry in the region. Environment-friendly characteristics, durability, and better aesthetic appearance of these coatings drive their consumption in various applications.
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• 332 Market data Tables
• 58 Figures
• 368 Pages and in-depth TOC on “Decorative Coatings Market – Global Forecast to 2026”
Some of the prominent key players are:
· The Sherwin-illiams Company (US)
· PPG Industries Inc. (US)
· AkzoNobel N.V. (Netherlands)
· BASF SE (Germany)
· Asian Paints Limited (India)
Opportunity: Opportunities in less-regulated regions
The decorative coating manufacturers in North America and Europe have to follow stringent government rules and policies. However, the developing regions have fewer or no rules for this segment. Hence, the markets for decorative coatings in APAC and other emerging economies are rapidly growing as the developed regions such as Europe have imposed many stringent policies. Thus, until these rules are imposed, the growth opportunities for the market in APAC and other emerging regions are tremendous.
Professional is the largest user type segment of the overall decorative coatings market.
A major reason to opt for a professional is to ensure a high-quality finish and to avoid the risk of damaging furniture or floors. Such paint works also finish faster and can benefit the end-users if time is a major constraint. Moreover, the shift towards the use of professional or Do-it-for me is becoming more evident because of the increasing numbers of elderly and a large number of young people who haven’t learned how to do DIY.
China is the largest decorative coatings market in Asia Pacific during the forecast period.
The market in China is driven by rising demand from housing activities, new construction and renovation activities, government and private investment in residential and non-residential projects, and growing consumer spending power. Increasing population, improved lifestyle, economic labor, and restructured environmental regulations are expected to fuel Chinas demand for decorative coatings. China is the world’s largest producer and consumer of coatings. Many major players are investing in the country to build new manufacturing facilities due to cheap labor and cheap and accessible raw materials.
