Decorative Coatings Market by Prominent Key Players BASF SE, PPG Industries Inc, The Sherwin-Williams, Akzo Nobel N.V and Others | Deep Analysis by 2023

Synopsis of Decorative Coatings Market:

The Global Decorative Coatings Market consists of five regions: Asia Pacific, Europe, Latin America, North America, and the Middle East & Africa. Among these, Asia Pacific is predicted to grow with the highest CAGR during the review period, 2017 to 2023 on account of expanding construction industry.

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Key Players:

Some of the prominent players operating in the Global Decorative Coatings Market are 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) among others.

Intended Audience

Decorative Coatings Manufacturers
Traders and Distributors of Decorative Coatings
Production Process Industries
Potential Investors
Raw Material Suppliers
Nationalized Laboratory

Regional Analysis:

North American Decorative Coatings Market is predicted to witness a tremendous growth on account of high consumption potential, increasing production capacities, and rising economic growth rate. As of 2016, the U.S accounted for one of the largest global market share in terms of value & volume and is estimated to grow with the moderate CAGR on account of growth in Decorative Coatings application in furniture sector. In Europe, the demand for Decorative Coatings is predicted to grow in various countries such as Italy, Germany, Spain, U.K, France, and Russia on account of increasing expenditure in innovation and growing purchasing power of consumers. Moreover, presence of major Decorative Coatings manufacturers specifically in Germany is expected to give a momentum to the market growth. Latin American countries such as Argentina, Colombia, and Brazil are predicted to experience decline in the Decorative Coatings Market owing to the financial crisis where the regional debts has surpassed their incomes.

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The demand for Decorative Coatings is predicted to surge in numerous countries of the Middle East & Africa such as Iraq, the United Arab Emirates, Saudi Arabia, Iran, and Kuwait due to high adoption rate by the construction industry. Moreover, this region is firmly in the middle of the world’s fastest growing markets and allowed Dubai in particular, to turn itself into a global hub for aviation, tourism and logistics.

As per our Analysis, some of the prominent market factors and trends identified in the Global Decorative Coatings Market include rapid rise in human development index (HDI), rising demand for dazzling colors that are in resonance with the environmental regulations and policies, and increasing expenditure on construction activities. Moreover, demand for decorative coatings is predicted to witness significant growth over the assessment period due to the surging population. Rising population and necessity to lodge the expanding population across the globe is anticipated to be an important driver for Decorative Coatings Market during the review period. Increasing renovation and colorants customization along with rising disposable income in the emerging economies is predicted to propel the growth of the market during the assessment period, 2017 to 2023. However, implementation of strict regulations by various government bodies have restricted the use of toxic organic chemicals used in the production of decorative coatings, which is expected to hamper the growth of the market.

Decorative Coatings are widely used as a protectant and colorant for metal, wooden and concrete structures against bleaching, chalking and general deterioration. In the market, Decorative Coatings are available as water borne and solvent borne coatings. These coatings have major applications as enhancing the visual appeal of substrates in coating wall and ceilings, furniture, and wooden flooring of the buildings. Additionally, they are used as coatings for metal objects and plastic materials.

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