Decorative Paints and Coatings Market Size | Share | Industry Opportunities 2022

The global decorative paints and coatings market size was valued at USD 126.8 million in 2021 and is poised to grow at a significant CAGR of 5.5% during the forecast period 2022-28. Decorative paints and coatings market refers to the industry that produces and sells paints and coatings used for decorative purposes such as enhancing the aesthetic appeal of buildings, furniture, and other structures. These coatings are used to add color, texture, and protection to various surfaces, such as walls, floors, and furniture. The decorative paints and coatings market includes various products such as emulsions, enamels, distempers, varnishes, and wood coatings. These products are used in residential, commercial, and industrial settings to provide decorative finishes, protection against weathering, and to improve durability.

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Decorative Paints and Coatings Market Growth Factors:
The decorative paints and coatings market has been experiencing steady growth over the past few years, and this trend is expected to continue in the coming years. Here are some of the growth trends in the market:

Growing demand for eco-friendly coatings: With increasing environmental awareness, there is a growing demand for eco-friendly coatings that have low VOC emissions and are made from sustainable raw materials. This trend is expected to continue in the coming years, with manufacturers investing in research and development of eco-friendly coatings.

Increasing demand for premium paints: As disposable incomes rise, there is a growing demand for premium paints that offer better durability and finish. Consumers are willing to pay a premium for paints that offer better coverage, hiding power, and longer-lasting finish.

Rising demand for water-based coatings: Water-based coatings are gaining popularity over solvent-based coatings due to their eco-friendliness and low VOC emissions. Water-based coatings are also easier to apply, have better adhesion, and offer better durability and protection.

Growing construction activities: With increasing urbanization, there is a growing demand for new construction projects, which in turn drives the demand for decorative paints and coatings. The growth of the construction industry is expected to continue in the coming years, further boosting the market growth.

Technological advancements: With the development of new technologies, manufacturers are able to produce paints and coatings with improved properties such as better durability, resistance to weathering, and improved texture. This has led to a wider range of products being available in the market, catering to the specific needs of customers.

The global decorative paints and coatings market Segmentations:
1) By Technology: Water-Based, Solvent-Based
2) By Product Type: Emulsions, Wood Coating, Enamels, Distempers Others
3) By Resin Type: Acrylic, Alkyd, Polyurethane Others
4) By Application: Residential Construction, Non-Residential Construction

Decorative Paints and Coatings Market Regional Analysis:
The decorative paints and coatings market is a global market, with significant regional variations in terms of market size, growth, and trends. Here is a regional analysis of the market:

North America: The North American market is a mature market, with a high demand for premium coatings and eco-friendly coatings. The market is driven by factors such as increasing urbanization, growth in the construction industry, and rising disposable incomes. The market is expected to continue growing at a moderate pace in the coming years.

Europe: The European market is also a mature market, with a high demand for premium coatings and eco-friendly coatings. The market is driven by factors such as increasing environmental awareness, growth in the construction industry, and rising demand for sustainable coatings. The market is expected to continue growing at a moderate pace in the coming years.

Asia Pacific: The Asia Pacific market is a rapidly growing market, with a high demand for decorative paints and coatings due to the rapid urbanization and growth in the construction industry. The market is driven by factors such as increasing disposable incomes, growth in the middle-class population, and increasing demand for premium coatings. The market is expected to continue growing at a high pace in the coming years.

Latin America: The Latin American market is a growing market, with a high demand for decorative paints and coatings due to the growth in the construction industry and increasing urbanization. The market is driven by factors such as rising disposable incomes, growth in the middle-class population, and increasing demand for premium coatings. The market is expected to continue growing at a moderate pace in the coming years.

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Key players profiles in the decorative paints and coatings market report are Akzonobel N.V., BASF Coatings GmbH, Benjamin Moore & Co. Inc., Cromology, DAW SE, Diamond Vogel, Duluxgroup Ltd, Dunn Edwards

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