Decorative Paints & Coatings Market Size & Analysis Forecasts To 2025
Decorative Paints & Coatings Market Insights
The global decorative painting & coatings market is expected to grow at a significant CAGR over the forecast period. The industrial growth is anticipated to be influenced by growing construction industry in emerging economies. This can be attributed to increasing infrastructural development, improving the standard of living and rising population.
Increasing awareness towards eco-friendly product along with rising adoption of green environmental regulations are likely to positively impact the overall decorative painting & coatings market. Rising inclination towards tilt-up concrete coupled with rising consumption of paints is further projected to increase the demand for the product.
However, volatile raw material prices and stringent regulations associated with the manufacturing of decorative paints can potentially hinder the market growth up to some extent.
Decorative Paints & Coatings Market
Decorative Paints & Coatings Market: Resin Type Insights
The market is divided into acrylic, alkyd, and polyurethane, based on resin type. Acrylic resin segment is anticipated to hold a significant share in the overall industry on account of its low price and aesthetic properties. These factors are expected to stimulate the adoption of acrylic resins in construction industries. Along with this, benefits associated with water-proofing, durability and superior electrostatic nature are also likely to have a positive influence on the overall market.
Decorative Paints & Coatings Market: Product Type Insights
Based on product type, the market is segmented into emulsion, enamel, distempers and wood coating among others. The emulsion segment is expected to hold the major share of the decorative paints & coatings market during the forecast period. Rising application of emulsions in the construction industry is anticipated to further stimulate the demand for decorative paints over the coming years.
Decorative Paints & Coatings Market: Technology Insights
The decorative paints & coatings market based on technology can be classified into water-based and solvent-based technology among others. The market for water-based technology is anticipated to occupy the highest share. This can be attributed to its eco-friendly nature, abrasion properties, and excellent adhesion.
Decorative Paints & Coatings Market: Application Insights
By application, the industry is segmented into residential and non-residential segment among others. The residential segment held the largest share of the decorative painting & coatings market in 2016. The growing construction activities in the residential sector are anticipated to stimulate the demand over the coming years. Along with this, increasing home ownership rates are also likely to propel growth.
Decorative Paints & Coatings Market: Regional Insights
The market in the Asia Pacific accounted for a substantial share in 2016 and is further anticipated to grow at a high CAGR over the coming years. China, Australia, New Zealand and India are considered as the major revenue contributors of the overall regional market. This can be associated with increasing industrialization and rising disposable income. Along with this, growing construction activities and shifting focus on eco-friendly products are anticipated to fuel market growth.
Decorative Paints & Coatings Market
Decorative Paints & Coatings Market: End-Use Landscape
The end-use landscape entails a list of current and prospective consumers prevailing across the regions. This section provides company addresses, contact details, products, and regional presence of companies who are purchasing or are likely to purchase decorative painting & coatings over the coming years. Some leading consumers of decorative painting & coatings are Laing O’Rourke, Kiewit, Balfour Beatty, Hochtief, Bechtel and Vinci.
Decorative Paints & Coatings Market: Vendor Landscape
The report contains a chapter dedicated to vendors operating in the market, covering raw material manufactures, equipment developers, manufacturers, and distributors. The report provides these insights on a regional level. This section of the report entails contact details, experience, products manufactured/supplied, and geographical presence of companies.
Decorative Paints & Coatings Market Share & Competitor Analysis
Some of the players operating in the global decorative painting & coatings market include PG Industries, AkzoNobel N.V., DuluxGroup Ltd., Sherwin-Williams Company, Nippon Paint Co., Ltd., Asian Paints, Kansai Paints Co., Ltd., Jotun A/S, DAW SE, and Masco Corporation.
In July 2018, Akzo Nobel announced opening of a new coatings production facility in Kenya. The facility is projected to deal in the production of coil coatings which and is primarily focused on the building sector and protective and powder coatings.
In June 2018, Akzo Nobel announced an agreement with Fabryo Corporation S.R.L. to acquire their 100% shares. The deal includes two production facilities and six distribution centers for decorative paints and mortars.