IMARC Group, a leading market research company, has recently releases report titled Decorative Coatings Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028. The study provides a detailed analysis of the industry, including the global decorative coatings market 2023 size, growth, share, trends, and forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Overview of Decorative Coatings Market
Decorative coatings are used to add vibrant colors to metal and plastic surfaces. They are applied to both interior and exterior structures to improve their visual appeal and provide protection against moisture, UV radiation, corrosion, blistering, chalking, fading, peeling, and other forms of damage. These coatings can be categorized into surface preparatory products such as putty and primer. They possess properties like anti-slip, anti-graffiti, anti-microbial, urine-repellant, scratch resistance, and fire resistance. Additionally, decorative coatings contribute to light absorption and insulation. They find extensive use in commercial and residential sectors worldwide.
How Big Is the Decorative Coatings Market?
Theglobal decorative coatings market size reached US$ 932.5 Million in 2022. Looking forward, IMARC Group expects the market to reach a value of US$ 1,481.4 Million by 2028 exhibiting a CAGR of 7.8% during 2023-2028.
Decorative Coatings Market Trends and Drivers:
The decorative coatings market is experiencing growth due to several factors. Firstly, there is a rising demand for eco-friendly coatings, which is driving market expansion. Leading companies in the industry are focusing on product innovation to enhance the customer experience and are forming partnerships and collaborations to increase their brand presence, further boosting market growth. Another significant growth factor is the increased use of decorative coatings in transparent glass-ceramic cookers and packaging materials in the food and beverage sector. Additionally, the use of water-based coating additives for color tinting, enhancing textile luster with fabric dyes, and preventing oxidation of metal substrates with rust inhibitors is contributing to the global market’s growth. Furthermore, the growing popularity of adornments made from plastics or paper machetes, as a result of the rising costs of gold and other precious metals, is positively impacting market growth. Moreover, the increasing number of home and office renovations and refurbishments, as well as the emerging trend of do-it-yourself (DIY) projects among individuals, are expected to fuel the decorative coatings market during the forecast period.
Global Decorative CoatingsMarket 2023-2028 Analysis and Segmentation:
Top Key Players covered in this report are: Akzo Nobel N.V., Arkema S.A, Ashland Global Holdings Inc., Asian Paints Limited, Axalta Coating Systems Ltd., BASF SE, Berger Paints India Limited, Clariant AG, Eastman Chemical Company, Kansai Paint Co. Ltd., KCC Corporation, Nippon Paint Holdings Co. Ltd., PPG Industries Inc., RPM International Inc. and The Sherwin-Williams Company
The report segmented the market based on region, technology, product, resin type, coating type and application.
Breakup by Technology:
- Waterborne Coatings
- Solvent-borne Coatings
- Powder Coatings
Breakup by Product:
Breakup by Resin Type:
Breakup by Coating Type:
Breakup by Application:
Breakup by Region:
- North America
- United States
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
The key regions covered in the market report are Asia Pacific, Europe, North America, Latin America, Middle East and Africa.
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2023- 2028)
- Porters Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape