Decorative Coatings Market Outlook, Volume, Competitive Landscape and Market Forecast 2023-2030
Global Decorative Paints And Coatings Market is segmented By resin (Alkyds, Acrylics, Polyurethanes, Others), By Usage Type (Exterior, Interior), By Application (Metal, Wood, Concrete, Others), By Solvent type (Water-based, Solvent-based), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Size, Share, Outlook, and Opportunity Analysis, 2023-2030
Decorative Coatings Market Overview
The Decorative Coatings Market is expected to grow at a high CAGR during the forecasting period (2023-2030). The report covers the key factors impacting the market, Porter 5 Forces, Product Benchmarking, and company profiles. The global Decorative coatings market is segmented by resin type (Alkyds, Alkyd modifiers, Acrylics, Polyurethanes, and others) by usage Type (Exterior and Interior) By application (Metal, Wood, Concrete and others) By Solvent Type (Water-based and Solvent-based). Based on geography the market is segmented into – North America, South America, Europe, Asia Pacific, and the Rest of the world.
Decorative Coatings Market Dynamics and Trends
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The demand for the decorative coatings market follows the overall economic activity. Decorative coatings are applied to decorate and protect buildings and other objects.
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Both environmental legislation and consumer preference are driving this trend. Thus the market is moving towards No VOC and low VOC (Volatile Organic Compounds).
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The biggest challenge for companies is to develop Non VOC products without compromising color or other product characteristics.
Decorative Coatings Market Segmentation Analysis
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The global decorative coatings market can be segmented by Resin type, usage type, application, solvent type, and region.
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Based on the usage type, the market can be segmented into interior and exterior.
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DIY (do it yourself) paints are mostly for internal purposes. Interior & exterior coatings differ in their composition. Interior coatings contain a lower level of volatile organic compounds. Health & safety considerations are essential for interior surfaces.
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Based on applications, the decorative coatings market can be segmented into Metal, wood, concrete and others. Concrete is the most significant segment in the market with increasing construction and infrastructure development activities globally.
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Based on the solvent type, the market can be segmented into water-based coatings and solvent-based coatings. Water-based coatings are the most significant segment, and it is becoming increasingly more common.
Decorative Coatings Market Geographical Share
Based on the region, the market can be segmented into North America, South America, Europe, Asia-pacific and rest of the world. Asia-pacific is the most significant segment in the decorative coatings market. Solvent-based decorative coatings have a smaller share in Europe because of strict regulations.
Key market segments covered
By Resin type
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Alkyds
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Alkyd modifiers
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Acrylics
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Polyurethanes
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Others
By Type
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Exterior
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Interior
By Application
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Metal
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Wood
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Concrete
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Others
By Solvent type
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Water-based
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Solvent-based
By Region
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Asia Pacific
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Europe
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North America
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South America
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Rest of the World
Decorative Coatings Companies and Competative
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Some of the biggest players in the decorative coating market are The Sherwin-Williams Co., AkzoNobel, PPG, RPM International Inc., Nippon Paint Holdings Co., Axalta Coating Systems., Kansai Paint Co. Ltd., Asian Paints Ltd., BASF, Masco.
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Companies are launching new products with new color collections at affordable costs, to be competitive in the market. For instance, HMG Paints has launched a specialist range of decorative coatings, including a new color collection with a focus on quality but not cost savings.
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Companies are undergoing eco-friendly practices with increasing concerns for the environment. For instance, AkzoNobel’s Decorative Paints has been awarded the Carbon Trust Triple Standard, for reductions in greenhouse gas emissions, waste, and water usage.