Decorative Coatings Market To Show Startling Growth During Forecast Period 2023-2032

As per the report published by The Brainy Insights, the global decorative coatings market is expected to grow from USD 69.60 billion in 2021 to USD 99.66 billion by 2030, at a CAGR of 4.07% during the forecast period 2022-2030. Asia Pacific region emerged as the largest market for the global decorative coatings market, with a 49.22% share of the market revenue in 2021. The raised expenditure of the government against the construction sector coupled with strong credit growth & and positive measures undertaken by the government are propelling the market's growth in this region. Additionally, the usage of decorative coatings across residential and commercial buildings is also driving the market growth in this region. In addition, the North American region is expected to show the fastest CAGR growth over the projection period due to the surge in construction repair activities.

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Decorative Coatings Market Size by Product Type (Enamels, Wood Coating, Emulsions, Distempers, and Others), Resin Type (Polyurethane, Acrylic, Vinyl, Alkyd, and Others), Coating Type (Exterior and Interior), Technology (Solvent-Borne Coatings, Waterborne Coatings, and Powder Coatings), Application (Residential and Non-residential) Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2022 to 2030

Leading companies in the industry include PPG Industries Inc, The Sherwin-Williams Company, AkzoNobel N.V., BASF SE, Kansai Paints Co., Ltd., Asian Paints Limited, Nippon Paint Holdings Co., Ltd., Masco Corporation, RPM International Inc, Jotun A/S, and among others which are offering greater opportunities and are continuously focused on new product developments and venture capital investments to obtain market share.

The product type segment is divided into enamels, wood coating, emulsions, distempers, and others. The emulsion led the market with a market share of 20.15% in 2021. This growth is attributed to the increase in sustainability & the demand for low VOC emissions. The resin type segment is divided into polyurethane, acrylic, vinyl, alkyd, and others. The acrylic segment led the market with a market share of 27.15% in 2021. This growth is attributed to the increasing demand for acrylic resins in waterborne coatings. The coating type segment is divided into exterior and interior. The exterior segment led the market with a market share of 58.16% in 2021. This growth is attributed to the raised disposable incomes and lifestyle changes. The technology segment is divided into solvent-borne coatings, waterborne coatings, and powder coatings. The waterborne coatings segment led the market with a market share of 43.18% in 2021. This growth is attributed to the increasing demand from end-use industries like automotive, infrastructure, and general industrial. The application segment is divided into residential and non-residential. The residential segment led the market with a market share of 57.15% in 2021. This growth is attributed to the continuous progress on an infrastructure project.

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The growing durable coatings with better execution & aesthetics and rising R&D investments propel the decorative coatings market's growth. Further, the increase in disposable income, advancement in the standard of living, and emerging trends in interior decoration also drive the per capita coating consumption. These factors are entirely impacting the growth of the decorative coatings market. In addition, the need for residential and non-residential structures is rising as a result of urbanization, which is also aiding in boosting market growth.

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