Urbanization Sparks A Booming Decorative Coatings Market Driver: A Major Catalyst in the Evolution of the Decorative Coatings Market in 2025

How Are the key drivers contributing to the expansion of the decorative coatings market?
The escalation of urbanization globally is anticipated to fuel the expansion of the decorative coatings market. Urbanization implies the shift of the populace from rural to city areas and the inflating human population density in these regions. The demand for residential and non-residential buildings is growing due to urbanization, creating momentum for the decorative coatings sector. For example, the United Nations Department of Economic and Social Affairs forecasts that by 2050, 68% of the world's population, equivalent to 2.5 billion individuals, will reside in urban environments. Consequently, the global increase in urbanization is steering the growth of the decorative coatings market.

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What growth opportunities are expected to drive the decorative coatings market's CAGR through 2034?
In recent years, there has been a significant increase in the size of the decorative coatings market. It is expected to expand from a size of $93.5 billion in 2024 to $99.88 billion in 2025, showing a compound annual growth rate (CAGR) of 6.8%. The historical growth can be traced back to the heightened interest in architectural and interior design trends, the expansion of the real estate and construction sectors, renovation and remodeling efforts, preferences for color and aesthetics, as well as the commercial and hospitality industry.

The market for decorative coatings is predicted to experience substantial growth in the coming years, swelling to a worth of $137.49 billion by 2029, showcasing a compound annual growth rate (CAGR) of 8.3%. The expansion during the projected period can be credited to factors such as rising focus on health and wellness, heightened demand for customization and personalization, an aging demographic and the adoption of universal design, the boom in e-commerce and internet sales, growth in emerging markets, and extravagant urbanization and infrastructural evolution. Key trends anticipated during the projection interval encompass eco-friendly and low-VOC coatings, advancements in digital color compatibility and visualization, intelligent and functional coatings, technological progression, and integration of antimicrobial or allergen-dimming characteristics.

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What are the emerging trends shaping the future of the decorative coatings market?
Innovative product developments are becoming a significant trend in the decorative coatings industry. Major industry players are concentrating on the creation of enhanced products to solidify their market stance. For instance, Kapci Coatings, a chemical manufacturing company from Egypt, introduced new decorative items named Elegant 555 and Elegant 545 in June 2022. These newly launched decorative items feature a rapid drying formula. Embedded in the Earth Friendly initiative, the goal of these products is to encourage more sustainable, water-based alternatives in the decorative paints sector.

Which growth-oriented segments of the decorative coatings market are leading the industry's development?
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

Subsegments:
1) By Emulsion: Acrylic Emulsions, Vinyl Acetate Emulsions, Styrene-Butadiene Emulsions
2) By Wood Coatings: Stains, Varnishes, Sealants, Lacquers
3) By Enamels: Oil-Based Enamels, Water-Based Enamels, Spray Enamels
4) By Other Product Types: Primers, Specialty Coatings, Thinners and Additives

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What regions are leading the charge in the decorative coatings market?
Asia-Pacific was the largest region in the decorative coatings market in 2024. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the decorative coatings market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

What companies are at the forefront of innovation in the decorative coatings market?
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, Cromology SL, Tikkurila OYJ, Hempel AS, Clariant AG, Benjamin Moore & Co., Dunn-Edwards Corporation, Behr Process Corporation, Farrow & Ball Ltd.

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What Is Covered In The Decorative Coatings Global Market Report?

•Market Size Forecast: Examine the decorative coatings market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the decorative coatings market for a structured understanding.
•Key Players Overview: Analyze major players in the decorative coatings market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the decorative coatings market.
•Segment Contributions: Evaluate how different segments drive overall growth in the decorative coatings market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the decorative coatings market.
•Industry Challenges: Identify potential risks and obstacles affecting the decorative coatings market.
•Competitive Landscape: Review strategic developments in the decorative coatings market, including expansions, agreements, and new product launches.

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