Decorative Exterior Materials Market Sale to Hit US$ 432 Bn by 2031-end

Decorative Exterior Materials Market 2022

The global decorative exterior materials market is currently valued at around US$ 254.4 Bn. Consumption of decorative exterior materials is projected to increase at 5.4% CAGR and be valued at around US$ 432 Bn by 2031-end. Growing urbanization, significant growth in the construction industry, coupled with increase in per capita disposable income to remain key growth factors for the market. Acquisitions and mergers, expansions, collaborations, and investments in R&D by key players are being witnessed in this industry. 

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The global market for decorative exterior materials is anticipated to witness a growth rate of around 5.4% over the decade. Market growth is anticipated to be attributed by rise in urbanization, growing construction sector, and growth in living standard across regions.

Growing demand for window frames and exterior doors will boost the market over the coming years owing to increment in the construction of residential, institutional, as well as commercial buildings, especially in developing nations. Increase in population in the Asia Pacific region and Africa is also benefiting the consumption rate as growth in population requires more living spaces.

Growth in per capita expenditure in the past few years uplifted the market. People had invested significantly in interiors as well as exteriors all over the globe. Further, this expenditure is anticipated to continue as the net income of individuals keeps rising.

The COVID-19 pandemic impacted market growth to a significant extent in 2020 owing to nationwide lockdowns and restrictions in movement. This put a hold on the construction sector and also the decoration industry. Owing to standstill in the construction of residential, commercial and institutional buildings, consumption of exterior wall materials, furniture, flooring materials also decreased.

Key Companies-

• LX Hausys Ltd.
• OMNOVA Solutions, Inc.
• ERGIS S.A.
• AVERY DENNISON CORPORATION
• JINDAL POLY FILMS Ltd.
• Klöckner Pentaplast Group
• Folienwerk Wolfen GmbH
• Mondoplastico S.p.A.
• RENOLIT
• AVI Global Plast Pvt. Ltd.
• MACRO PLASTIC SDN. BHD.
• Peiyu Plastics Corporation
• Hanwha L&C
• Konrad Hornschuch AG
• Fine Decor GmbH
• Alfatherm s.p.a.
• C.I. TAKIRON Corporation
• RTP Company, Inc.
• Schweitzer-Mauduit International, Inc. (SWM)
• others

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Key Takeaways from Market Study

• Global demand for decorative exterior materials is forecasted to reach a value of US$ 432 Bn by 2031.
• North America is anticipated to remain one of the key markets accounting for around 23% of global market share.
• The automotive exterior segment is anticipated to witness a CAGR of 5.4% over the decade.
• The market in India is expected to grow substantially over the next ten years.
The commercial segment is anticipated to remain a key end user and account for more than 50% market share by value.

"Key market participants are focusing on strategic expansions and innovations in the industry of decorative exterior materials to boost their annual turnover," says a Persistence Market Research analyst.

Competitive Landscape

The global market for decorative exterior materials has been identified as a fragmented space owing to substantial presence of key market participants along with a large number of small and medium players.

Conclusion

The global business of decorative exterior materials is projected to witness a significant growth rate owing to the growing construction sector and increasing per capita expenditure.

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Key Questions Answered in the Decorative Exterior Materials Market Report - 

• How much is the global market for decorative exterior materials currently valued at?
• What is the main factor driving demand growth of decorative exterior materials?
• What will be the consumption outlook for decorative exterior materials through 2031?
• What are the key trends being witnessed in the global market?
• Which 5 countries drive most of the demand for decorative exterior materials?
• How is Germany faring in the European market?
• Which countries are major producers and exporters of decorative exterior materials?
What is the outlook for the market in Japan and S. Korea?

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