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Decorative Coatings Market Trends, Top Companies, Share, Growth And Forecast 2032
Decorative Coatings Market
The Business Research Company's Decorative Coatings Global Market Report 2023 identifies the rise in urbanization all over the globe as the major driver for the decorative coatings market's growth in the forecast period. Urbanization refers to the population movement from rural to urban settings and the increasing human population densities in urban areas. The need for residential and non-residential structures is expanding as a result of urbanization, which will propel the decorative coatings industry forward.
The global decorative coatings market size grew from $82.68 billion in 2022 to $89.32 billion in 2023 at a compound annual growth rate (CAGR) of 8.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the decorative coatings market is expected to grow to $113.83 billion in 2027 at a CAGR of 6.2%.
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Major competitors in the decorative coatings market are PPG Industries Inc., AkzoNobel, Sherwin-Williams, Valspar, Asian Paints Ltd., Berger Paints Ltd., Cabot Corporation, DAW SE, Jotun, Masco.
A key trend in the decorative coatings market includes product innovation. Major companies operating in the sector of decorative coatings are focused on developing advanced products to strengthen their position. For instance, in November 2021, Covestro AG, a Germany-based manufacturer of premium polymers, introduced Decovery® SP-8310, a breathable, multi-purpose resin with a 37 percent bio-based composition, to enable exterior coatings with better outdoor durability. The new solution, which is a member of Covestro's Decovery® family of resins with up to 52 percent bio-based content, meets the demand for more durable outdoor coatings in the decorative coating industry.
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https://www.thebusinessresearchcompany.com/report/decorative-coatings-global-market-report
The decorative coatings market is segmented -
• By Product Type: Emulsion, Wood Coatings, Enamels, and Other Product Types
• By Resin Type: Acrylic, Alkyd, Vinyl, Polyurethane, and Other Resin Types
• By Formulation: Water Based, Solvent Based, Powder Based
• By Application: Residential, Non-Residential
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the decorative coatings market.
The Business Research Company's "Global Decorative Coatings Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Decorative Coatings Market Include:
1. Executive Summary
2. Decorative Coatings Market Characteristics
3. Decorative Coatings Market Trends And Strategies
4. Decorative Coatings Market - Macro Economic Scenario
5. Decorative Coatings Market Size And Growth
……
26. Africa Decorative Coatings Market
27. Decorative Coatings Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Decorative Coatings Market
29. Decorative Coatings Market Future Outlook and Potential Analysis
30. Appendix
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