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Decorative Coatings Market Report 2024 - Market Size, Growth Rate, Major Drivers And Key Trends | PPG Industries Inc., Akzonobel NV, Sherwin-Williams Co., Valspar Corp., Asian Paints Ltd., Berger Paints Ltd
Decorative Coatings Global Market Report 2024
As per the report, the decorative coatings market size has grown strongly in recent years. It will grow from $87.84 billion in 2023 to $94.12 billion in 2024 at a compound annual growth rate (CAGR) of 7.1%. The decorative coatings market size is expected to see strong growth in the next few years. It will grow to $125.44 billion in 2028 at a compound annual growth rate (CAGR) of 7.4%.
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Urbanization Sparks A Booming Decorative Coatings Market
The rise in urbanization all over the globe is expected to drive the growth of the decorative coatings market going forward. 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. For instance, according to the United Nations Department of Economic and Social Affairs, 68% of the world's population, or 2.5 billion people, are projected to live in urban areas by 2050. Therefore, the rise in urbanization all over the globe is driving the growth of the decorative coatings market.
Innovative Products Reshape The Landscape Of Decorative Coatings Market
New product innovations have emerged as a key trend gaining popularity in the decorative coatings market. 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.
The decorative coatings market covered in this report is segmented -
1) By Product Type: Emulsion, Wood Coatings, Enamels, Other Product Types
2) By Resin Type: Acrylic, Alkyd, Vinyl, Polyurethane, Other Resin Types
3) By Formulation: Water Based, Solvent Based, Powder Based
4) By Application: Residential, Non-Residential
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Major companies operating in the decorative coatings market include PPG Industries Inc., Akzonobel NV, Sherwin-Williams Co., Valspar Corp., Asian Paints Ltd., Berger Paints Ltd., Cabot Corporation, DAW SE, Jotun Paints Ltd., Masco Corp., Brillux GmbH & Co. KG, BASF SE, Vogel Paint and Wax Company, Kansai Paint Co. Ltd., Kelly-Moore Paints Company Inc., RPM International Inc., Nippon Paint Holdings Co. Ltd., Axalta Coating Systems Ltd., Teknos AG, Mankiewicz India Pvt. Ltd., Meffert AG Farbwerke, Corporate Identification Number, Cromology SL, Tikkurila OYJ, Wörwag Pharma GmbH & Co. KG, Hempel AS, Clariant AG, Celanese Corporation, Benjamin Moore & Co., Dunn-Edwards Corporation, Behr Process Corporation, Farrow & Ball Ltd.
Contents of the report:
1. Executive Summary
2. Decorative Coatings Market Report Structure
3. Decorative Coatings Market Trends And Strategies
4. Decorative Coatings Market - Macro Economic Scenario
5. Decorative Coatings Market Size And Growth
…..
27. Decorative Coatings Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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