Market Highlights
Decorative Coating refers to the industry segment that produces and sells coatings, paints, and finishes designed primarily for aesthetic purposes, enhancing the appearance of various surfaces while also providing some level of protection. Decorative coatings are used to transform and beautify surfaces, making them visually appealing and suitable for specific purposes. These coatings are applied on surfaces such as walls, ceilings, furniture, vehicles, and other objects, and they come in a wide variety of colours, textures, and finishes to meet the preferences and requirements of consumers.
The decorative coatings market is a specialized segment within the broader paints and coatings industry that focuses on the development, production, and distribution of coatings primarily designed for aesthetic purposes. These coatings are applied to a wide range of surfaces, including walls, ceilings, furniture, architectural structures, automobiles, consumer goods, and more. The primary objective of decorative coatings is to enhance the visual appeal of surfaces, transforming them into aesthetically pleasing and functional spaces or products.
Resurgence in Construction and Renovation amid the pandemic, and shifting in consumer preferences, there was an increased interest in home improvement projects, which included painting and decorating. This shift in consumer preferences presented opportunities for the decorative coatings market. However, the industry is gradually rebounding in the year 2021 with the ramp-up in consumer confidence. at a promising CAGR of 4% in the long run to reach US$ 99.9 Billion in 2028.
Market Segment Analysis
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Segmentations
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List of Sub-Segments
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Dominant and Fastest-Growing Segments
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Resin Type Analysis
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Acrylic, Alkyd, vinyl, and Polyurethane
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Polyurethane is anticipated to remain the biggest demand generator for decorative coatings in the years to come.
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Technology Type Analysis
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Water Borne, Solvent borne, and Powder coatings
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Water borne is expected to be the dominant and fastest growing type in Technology Type segment for decorative coatings in the years to come.
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Coating Type Analysis
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Interior and Exterior
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Exterior coating type will be dominating and faster growing in the market with the largest market share over the forecast period.
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End User Type Analysis
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DIY and Professional
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Professional type is expected to hold the dominance and faster growing in the end user segment in the upcoming years.
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Application Type Analysis
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Residential and Non-residential
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Residential applications will account the higher market share and faster growing over the forecast period.
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Regional Analysis
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North America, Europe, Asia-Pacific, and The Rest of the World
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North America is expected to remain the largest market over the next five years, whereas Asia-Pacific is likely to grow at the fastest rate.
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Based on the resin type, the Decorative Coatings Market is segmented into Acrylic, Alkyd, vinyl, Polyurethane. Polyurethane is expected to remain the largest and the fastest growing resin type in the market during the forecast period owing the versatility of uses for both interior and exterior decorative coatings.
Based on the Technology type, the Decorative Coatings Market is segmented into Waterborne, Solvent borne, Powder coatings. Waterborne is expected to remain the largest and the fastest-growing technology type in the market during the forecast period since Advancements in waterborne coating technology have improved their adhesion to various substrates, including metals, plastics, and wood. They now offer comparable or even superior performance characteristics, such as durability, weather resistance, and UV stability, to solvent-based coatings. They produce significantly less odour during application and curing compared to solvent-based alternatives.
Based on the Coating type, the Decorative Coatings Market is segmented into Interior and Exterior. Exterior is expected to remain the larger and faster growing coating type in the market during the forecast period since Exterior coatings significantly influence the aesthetic appeal of buildings and structures. Property owners, whether residential or commercial, place a strong emphasis on the appearance of their exteriors. Decorative coatings enhance curb appeal, making them a sought-after choice. Also, homeowners and property owners looking to sell or rent their properties, well-maintained and visually appealing exteriors can significantly increase resale or rental value. This motivates investments in decorative exterior coatings
Based on the End User type, the Decorative Coatings Market is segmented into DIY and Professional. Professional type is expected to remain the larger and faster growing end-user type in the market during the forecast period since it’s the work type most in demand in the application in terms of aesthetics in construction and designing
Based on the Application type, the Decorative Coatings Market is segmented into Residential and Non-residential. Residential type is expected to remain the larger and faster growing application type in the market during the forecast period since continuous and growing demand for housing worldwide demands for decorative coatings to enhance and protect the interiors and exteriors of these structures. Also, changing interior design trends often involve the use of decorative coatings to achieve specific looks or themes. Consumers are influenced by design trends and are willing to invest in coatings to update their homes
In terms of regions, North America is expected to remain the largest market for Decorative Coatings during the forecast period. This region has a presence is home to some of the world's fastest-growing economies, including China and India. Rapid economic development leads to increased construction, both residential and commercial, driving the demand for decorative coatings in new buildings and infrastructure projects. APAC is experiencing significant urbanization, with millions of people moving from rural areas to cities. This trend creates a demand for modern and aesthetically pleasing living and working spaces, driving the need for decorative coatings in urban construction projects.
Key Players
The following are the key players in the Decorative Coatings market.
- BASF Coating GMBH
- Jotun A/s
- Asian Paints Limited
- Kansai Paint Co., Ltd
- Nippon Paint Holding Co., Ltd
- RPM International, Inc
- PPG Industries
- Axalta Coating Systems
- Benjamin Moore
- Masco Corporation
Research Methodology
This strategic assessment report from Stratview Research provides a comprehensive analysis that reflects today’s Decorative Coatings Market realities and future market possibilities for the forecast period. The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.
This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.
Report Features
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:
- Market structure: Overview, industry life cycle analysis, supply chain analysis
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Market trend and forecast analysis
- Market segment trend and forecast
- Competitive landscape and dynamics: Market share, Product portfolio, New Product Launches, etc.
- COVID-19 impact and its recovery curve
- Attractive market segments and associated growth opportunities
- Emerging trends
- Strategic growth opportunities for existing and new players
- Key success factors
The Decorative Coatings Market is segmented into the following categories.
Decorative Coatings Market, by Resin Type
- Acrylic (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Alkyd (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Vinyl (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Polyurethane (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
Decorative Coatings Market, by Technology Type
- Waterborne coatings (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Solvent borne (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Powder coating (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
Decorative Coatings Market, by Coating Type
- Interior (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Exterior (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
Decorative Coatings Market, by End-User Type
- DIY (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Professional (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
Decorative Coatings Market, by Application Type
- Residential (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Non-residential (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
Decorative Coatings Market, by Region
- North America (Country Analysis: The USA, Canada, and Mexico)
- Europe (Country Analysis: Germany, France, The UK, Russia, and The Rest of Europe)
- Asia-Pacific (Country Analysis: Japan, China, India, and The Rest of Asia-Pacific)
- Rest of the World (Country Analysis: Brazil, Saudi Arabia, and Others)
Report Customization Options
With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
Company Profiling
- Detailed profiling of additional market players (up to three players)
- SWOT analysis of key players (up to three players)
Competitive Benchmarking
- Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances
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