Decorative Coatings Market - Recent Industry Developments And Growth Strategies By 2024

Decorative or architectural coatings are the paints and finishes that are used on residential and commercial buildings. They are basically employed to decorate rooms by adding colors and make them look fresh and attractive. They also serve as protecting agents from UV radiation, bacteria, corrosion, and moisture. The several applications of decorative coatings include exterior and interior house stains, varnishes, sealers, primers, and paints. Presently, the beauty of any product in terms of its appearance, attractiveness, looks, and aesthetical value is extremely important to make it stand out of its competitors.

Thus, decorative paints play a crucial part here. On the basis of type of architecture, the decorative coatings market can be segmented into architectural lacquers, interior solvent based coatings, exterior solvent based coatings, water based coatings, and other types of architectural coatings.

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The report is an enquiry in the growth of the global decorative coatings market over the last few years and in the upcoming years. The market research study further reasons out the causes of the alterations in the market worldwide. It performs this task by presenting a valuation of the dynamics and the trends ubiquitous from the last few years and the ones that are likely to keep hold of a strong presence during the forecast period. The Porter’s five forces analysis has been taken into consideration by the analysts to offer a clear view of the vendor landscape to the readers. Mergers, agreements, acquisitions, and other partnerships have also been highlighted in the market research report. The study also delves into the working of several major companies along with information on their products, strategies, and shares in question.

Global Decorative Coatings Market: Trends and Opportunities

The global market for decorative coatings is expected to be benefitted by the rising use in construction sector across several countries such as Singapore, Vietnam, India, UAE, Qatar, Mexico, the U.S., and China. The growing demand for these decorative coatings can be warranted due to their appearance and durability on the surface they are being applied to.

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The mushrooming of shopping malls, housing complexes, office buildings, and residential complexes across the globe is one of the primary factors driving the growth of the global decorative coatings market. The rising interest of consumers towards home decoration and aesthetics along with enhanced living standards are further expected fuel the demand for decorative coatings.

Some of the challenges that the market is likely to face is strict regulations regarding the use of toxic chemicals in the paint and their harmful effects on the environment. Convenience, technology, and health concerns may also impede the market’s growth in the near future.

Global Decorative Coatings Market: Regional Analysis

The market for decorative coatings is expected to be highly benefitted from the growing construction industry in the emerging regions such as Asia Pacific and the Middle East and Africa. The tilt towards westernized architecture and improving living standards is further likely to propel the growth of the market, whereas economic downturn in the developed regions is likely to slow down the market in North America and Asia Pacific.

Global Decorative Coatings Market: Competitive Landscape

Some of the prime companies in the market are DuPont, BASF, Sherwin-Williams, Dow Chemical, Dulux, PPG, and Akzo Nobel NV.

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