Global Decorative Coatings market data 2024, Forecast To 2033

The decorative coatings market has witnessed robust growth, surging from $87.84 billion in 2023 to $94.12 billion in 2024, accompanied by a commendable compound annual growth rate (CAGR) of 7.1%. The expansion in the historic period is attributed to an increased emphasis on architectural and interior design trends, the flourishing real estate and construction industry, a surge in renovation and remodeling projects, evolving color and aesthetic preferences, and the dynamic commercial and hospitality sector. Envisaging sustained strong growth, the market size is projected to reach $125.44 billion in 2028, driven by a consistent CAGR of 7.4%. Factors contributing to this growth include a heightened focus on health and wellness, increased customization and personalization, considerations related to an aging population and universal design, the proliferation of e-commerce and online sales, the growth of emerging markets, and ongoing trends in urbanization and infrastructure development. Major trends in the forecast period include sustainable and low-VOC coatings, digital color matching and visualization, smart and functional coatings, advancements in technology, and the introduction of antimicrobial or allergen-reducing properties.