The global decorative coatings market size is anticipated to reach USD 116.40 billion by 2030. The market is projected to grow at a CAGR of 4.8% from 2024 to 2030. Rising construction spending in light of urbanization, population growth and government infrastructural plan will augment industry growth. Emerging economies in Southeast Asia including Malaysia, Thailand and Singapore are projected to witness a surge owing to increasing commercial establishments including shopping malls and business parks.
Waterborne coatings accounted for over 70% of global revenue and are expected to gain share over solventborne owing to its non-requirement of additives, hardeners or thinners resulting in cost advantage. In addition, the U.S. EPA and REACH promotes use of waterborne technology which is expected to stimulate market expansion over the next seven years.
Ongoing product development by various companies to manufacture cost-efficient and high performance coatings is further expected to drive demand over the next seven years. However, fluctuating raw material prices along with adverse environment impact of solventborne coatings is expected to restrict market growth over the next seven years. Introduction of nanocoatings along with green coatings is expected to open new opportunities for growth over the forecast period.
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Waterborne coatings accounted for over 70% of global revenue and are expected to gain share over solventborne owing to its non-requirement of additives, hardeners or thinners resulting in cost advantage. In addition, the U.S. EPA and REACH promotes use of waterborne technology which is expected to stimulate market expansion over the next seven years.
Ongoing product development by various companies to manufacture cost-efficient and high performance coatings is further expected to drive demand over the next seven years. However, fluctuating raw material prices along with adverse environment impact of solventborne coatings is expected to restrict market growth over the next seven years. Introduction of nanocoatings along with green coatings is expected to open new opportunities for growth over the forecast period.
Decorative Coatings Market Report Highlights
- The emulsion dominated the market and accounted for a revenue share of 41.3% in 2023. The factor driving the dominance of emulsion paints is its environmentally friendly characteristics
- The water-borne coatings dominated the market and accounted for the largest revenue share in 2023 due to increasing government regulations and growing consumer awareness regarding sustainability & eco-friendliness
- The residential segment dominated the market and accounted for the largest revenue share in 2023 due to increasing consumer awareness regarding home aesthetics
- The Asia Pacific decorative coatings market dominated the market with the largest revenue share of 38.7% in 2023
The leading players in the Decorative Coatings market include:
- The Sherwin-Williams Company
- PPG Industries
- Akzo Nobel N.V.
- BASF SE
- Jotun
- Asian Paints
- Kansai Paint Co., Ltd.
- RPM International
- Masco Corporation
- Axalta Coating Systems Ltd.
- Nippon Paint (India) Private Limited
Why should you buy this report?
- Comprehensive Market Analysis: Gain detailed insights into the global market across major regions and segments.
- Competitive Landscape: Explore the market presence of key players worldwide.
- Future Trends: Discover the pivotal trends and drivers shaping the future of the global market.
- Actionable Recommendations: Utilize insights to uncover new revenue streams and guide strategic business decisions.
This report addresses:
- Market intelligence to enable effective decision-making
- Market estimates and forecasts from 2018 to 2030
- Growth opportunities and trend analyses
- Segment and regional revenue forecasts for market assessment
- Competition strategy and market share analysis
- Product innovation listing for you to stay ahead of the curve
- COVID-19's impact and how to sustain in these fast-evolving markets
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Table of Contents
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Decorative Coatings Market Variables, Trends, & Scope
Chapter 4. Decorative Coatings Market: Product Estimates & Trend Analysis
Chapter 5. Decorative Coatings Market: Technology Estimates & Trend Analysis
Chapter 6. Decorative Coatings Market: Application Estimates & Trend Analysis
Chapter 7. Decorative Coatings Market: Regional Estimates & Trend Analysis
Chapter 8. Competitive Landscape
Companies Mentioned
The leading players in the Decorative Coatings market include:- The Sherwin-Williams Company
- PPG Industries
- Akzo Nobel N.V.
- BASF SE
- Jotun
- Asian Paints
- Kansai Paint Co., Ltd.
- RPM International
- Masco Corporation
- Axalta Coating Systems Ltd.
- Nippon Paint (India) Private Limited
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 100 |
| Published | September 2024 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value ( USD | $ 83.91 Billion |
| Forecasted Market Value ( USD | $ 116.4 Billion |
| Compound Annual Growth Rate | 4.8% |
| Regions Covered | Global |
| No. of Companies Mentioned | 12 |
