Decorative Coatings Market Share, Size, Key Players, Trends, Competitive and Regional Forecast with Top 10 Key Players

Factors such as globalization, urbanization, rising standard of living, increasing purchase power parity (PPP), infrastructural development, and the rapidly increasing need to construct megacities in emerging economies are fuelling the construction industry worldwide; therefore, positively influencing the demand for decorative coatings.
The global decorative coatings market size is projected to grow from USD 82.0 billion in 2022 to USD 98.9 billion by 2027, at a CAGR of 3.8%. The research report provides access to critical information such as market growth drivers, decorative coatings market key players [https://www.marketsandmarkets.com/Market-Reports/decorative-paints-coatings-market-56221086.html?utm_source=abnewswire.com&utm_medium=referral&utm_campaign=decorativepaintscoatings], market growth restraints, current market trends, the market's economic and financial structure, and other key market details. The demand for decorative coatings is primarily influenced by the demand trends in the building and construction industry and in the growing economy. The companies have adopted various strategies, such as investment & expansion, merger & acquisition, new product launches, and joint ventures to increase their global presence and maintain sustained growth in the decorative coatings market.

Coatings used on the interior and exterior surfaces of residential, commercial, institutional, or industrial buildings, applied at room temperature, are known as decorative coatings. These coatings can be categorized based on their use for aesthetics and protective purposes. Weather resistance, washability, low VOC, anti-fungal, and anti-dampening are properties that the topcoat and base coat imparts to the surface. The economic growth in emerging economies, increasing investment in infrastructure, stringent environmental regulations, growing purchasing power, and the rising demand for green and environment-friendly coatings are leading to market growth.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=56221086 [https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=56221086&utm_source=abnewswire.com&utm_medium=referral&utm_campaign=decorativepaintscoatings]

Asia Pacific is the largest decorative coatings market in terms of value and volume and is projected to be the fastest-growing market during the forecast period. The region has witnessed significant economic growth over the last decade. According to the IMF and World Economic Outlook, China and Japan were the world's second and third-largest economies, respectively, in 2022. The United Nations Population Fund states that Asia Pacific accounts for 60% of the world's population, which is 4.7 billion people, including the world's most populous countries, such as China and India. This is projected to become an increasingly important driver of the global construction industry over the next two decades. This will also be fueled by the rapidly rising household income and the fast-growing demand from smaller towns and rural areas because of increased customer awareness.

There are various small, medium, and large players operating in the market. Some of the major market players include The Sherwin-Williams Company (US), PPG Industries, Inc (US), AkzoNobel N.V. (The Netherlands), BASF Coating GMBH (Germany), Jotun A/s (Norway), Asian Paints Limited (India), Kansai Paint Co., Ltd (Japan), Nippon Paint Holding Co., Ltd (Japan), RPM International, Inc (US), Masco Corporation (US). They have adopted various developmental strategies such as investment & expansions, new product launches, mergers & acquisitions, and joint ventures to increase their share in the market.

PPG Industries, Inc: PPG Industries, Inc. is a US-based supplier of paints, coatings, optical products, specialty materials, glass, and fiberglass. The company operates through three business segments, namely, performance coatings, industrial coatings, and glass. It caters to the needs of a number of end-use industries, such as construction, consumer products, industrial, and transportation. The company offers automotive coatings under its industrial coatings segment. It has a presence in North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa, with operations in over 156 countries.

The alkyd segment shows tremendous growth during the forecast period.

Alkyds are formed because of the polymerization reaction between an alcohol and an acid, modified by the addition of oils. Usually, they are made from polyols, dibasic acids, and fatty acids. They are also known as oil-modified polyesters. The oil content of the final product can extremely vary (from 30 to more than 70% of the total volume of the resin), which greatly influences the physico-chemical properties. The polymer structure of alkyd resins makes them particularly suitable to be used as a basis for enamels and paints with specific characteristics. Alkyds are the oldest type of binders used in coatings. One of their most important attributes is good compatibility with other coating polymers. For example, vinyl resins, i.e., copolymers of vinyl chloride and vinyl acetate, contain hydroxyl groups, which can be formulated with alkyd resins to improve their application properties.

Inquire Before Buying: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=56221086 [https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=56221086&utm_source=abnewswire.com&utm_medium=referral&utm_campaign=decorativepaintscoatings]

The most used polyol is glycerol, and the most used dibasic acid is phthalic anhydride. Many variations in the constituents and portions of alkyd coating materials are available. Different binders such as drying oils, phenolic resins, amino resins, nitrocellulose, maleic resins, chlorinated rubber, and cyclized rubber can be used. The long-emulsified oil-drying alkyds are also added to synthetic latex house paints to improve adhesion to chalky painted surfaces.

Waterborne segment in technology shows tremendous growth in decorative coatings market during the forecast period.

Water-based coating technology is formulated with water as the base. Water is the main solvent in this technology, but it also contains other solvents, for instance, glycol ethers. There is about 80% water content in the entire formulation of water-based coating. The major advantage of this technology is low toxicity & flammability due to low VOC levels and HAP emissions, which helps reduce air emissions. A coating with this technology has excellent adhesion and greater heat resistance compared to other technologies. Water-based coatings have a VOC content of fewer than 3.5 pounds per gallon of water. Almost all types of resins, such as vinyl, two-component acrylics, epoxies, polyesters, alkyd, and urethanes, are available in water-based versions. Water-based coatings are classified based on how the resin is fluidized. The four main types are water-soluble paints, water-dispersible paints or colloidal coatings, emulsions/latex paints, and water-based alkyds. In each category, the physical properties and performance depend on the type of resin used.

About MarketsandMarkets Trademark

MarketsandMarkets Trademark has been recognized as one of America's best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets Trademark is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore Trademark (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

Media Contact
Company Name: MarketsandMarkets Trademark Research Private Ltd.
Contact Person: Mr. Rohan Salgarkar
Email:Send Email [https://www.abnewswire.com/email_contact_us.php?pr=decorative-coatings-market-share-size-key-players-trends-competitive-and-regional-forecast-with-top-10-key-players]
Phone: 18886006441
Address:1615 South Congress Ave. Suite 103, Delray Beach, FL 33445
City: Florida
State: Florida
Country: United States
Website: https://www.marketsandmarkets.com/Market-Reports/decorative-paints-coatings-market-56221086.html



This release was published on openPR.