Overview of Decorative Coatings Market
Decorative coatings are designed to add vibrant color to metal and plastic substrates. They are applied to both interior and exterior surfaces of various structures to enhance their visual appeal and provide protection against moisture, UV radiation, corrosion, blistering, chalking, fading, peeling, and other environmental factors. Decorative coatings can be categorized into surface preparatory products, such as putty and primer, and they offer additional features like anti-slip, anti-graffiti, anti-microbial, urine-repellent, scratch-resistant, and fire-resistant properties. Moreover, these coatings contribute to light absorption and insulation and find extensive use in commercial and residential sectors worldwide.
How Big Is the Decorative Coatings Market?
The global decorative coatings market size reached US$ 932.5 Million in 2022. Looking forward, IMARC Group expects the market to reach a value of US$ 1,481.4 Million by 2028 exhibiting a CAGR of 7.8% during 2023-2028.
Decorative Coatings Market Trends and Drivers:
The decorative coatings market is experiencing significant growth due to several factors. One of the key drivers is the increasing demand for eco-friendly coverings, as consumers prioritize environmentally friendly options. Additionally, leading companies in the market are focusing on product innovation to enhance the customer experience and are actively engaging in partnerships and collaborations to expand their brand presence, which further contributes to market growth. Furthermore, the use of decorative coatings in transparent glass-ceramic cookers and packaging materials in the food and beverage (F&B) sector is driving market growth. These coatings enhance the visual appeal of products and contribute to their overall aesthetic presentation.
Moreover, the growing utilization of water-based coating additives is fueling the global market. These additives are used to tint or enhance the luster of textiles with fabric dyes and prevent oxidation of metal substrates using rust inhibitors, providing added value to various industries. Additionally, the increasing adoption of adornments made from plastics or paper machetes is positively impacting the market. This trend is driven by the rising costs of gold and other precious metals, leading consumers to seek alternative decorative options. Furthermore, the market is expected to be fueled by the growing number of renovations and refurbishments in homes and offices, as well as the emerging trend of do-it-yourself (DIY) projects among individuals, highlighting the need for decorative coatings. Overall, these factors contribute to the growth of the decorative coatings market over the forecasted period.
Global Decorative Coatings Market 2023-2028 Analysis and Segmentation:
Top Key Players covered in this report are: Akzo Nobel N.V., Arkema S.A, Ashland Global Holdings Inc., Asian Paints Limited, Axalta Coating Systems Ltd., BASF SE, Berger Paints India Limited, Clariant AG, Eastman Chemical Company, Kansai Paint Co. Ltd., KCC Corporation, Nippon Paint Holdings Co. Ltd., PPG Industries Inc., RPM International Inc. and The Sherwin-Williams Company
The report segmented the market based on region, technology, product, resin type, coating type and application.
Breakup by Technology:
- Waterborne Coatings
- Solvent-borne Coatings
- Powder Coatings
Breakup by Product:
- Primer
- Enamel
- Emulsions
- Others
Breakup by Resin Type:
- Acrylic
- Polyurethane
- Alkyd
- Vinyl
- Epoxy
- Others
Breakup by Coating Type:
- Interior
- Exterior
Breakup by Application:
- Residential
- Commercial
Breakup by Region:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
The key regions covered in the market report are Asia Pacific, Europe, North America, Latin America, Middle East and Africa.
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2023- 2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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