What Has Driven the Growth of the Decorative Coatings Market in Recent Years?
The decorative coatings market has seen considerable growth due to a variety of factors.
• In the past few years, the decorative coatings market has seen robust expansion. The size is projected to rise from $93.5 billion in 2024 to $99.88 billion in 2025, indicating a compound annual growth rate (CAGR) of 6.8%.
The notable growth in this period is attributable to a heightened emphasis on architectural and interior design trends, expansion in the real estate and construction sectors, renovation and remodeling projects, preference for color and aesthetics, and the commercial and hospitality industry.
What is the Market Size Forecast for the Decorative Coatings Market?
The decorative coatings market is expected to maintain its strong growth trajectory in upcoming years.
• The market size of decorative coatings is anticipated to witness robust expansion in the upcoming years, reaching $137.49 billion by 2029 at a compound annual growth rate (CAGR) of 8.3%.
This surge during the forecast period can be credited to factors such as increasing focus on health and wellness, customization and personalization, the aged population and universal design, the rise of e-commerce and online sales, growth in emerging markets, and developments in urbanization and infrastructure. Key trends identified for the forecast period incorporate sustainable and low VOC coatings, advancements in digital color matching and visualization, intelligent and functional coatings, technology progression, and the emergence of antimicrobial or allergen-reducing properties.
What Are The Core Factors Supporting Growth In The Decorative Coatings Market?
The escalating urbanization worldwide is anticipated to fuel the expansion of the decorative coatings market in the future. This urbanization implies the transition of individuals from rural to urban habitats coupled with the mounting population concentration in these areas. The increasing demand for residential and non-residential constructions due to this urban transition is set to push the progression of the decorative coatings sector. For example, data from the United Nations Department of Economic and Social Affairs suggests that by 2050, about 68% of the global population, which equates to 2.5 billion individuals, are presumed to reside in urban locales. Hence, the surge in urbanization across the world propels the augmentation of the decorative coatings market.
What Are The Major Segments Within The Global Decorative Coatings Market?
The decorative coatings market covered in this report is segmented –
1) By Product Type: Emulsion, Wood Coatings, Enamels, Other Product Types
2) By Resin Type: Acrylic, Alkyd, Vinyl, Polyurethane, Other Resin Types
3) By Formulation: Water Based, Solvent Based, Powder Based
4) By Application: Residential, Non-Residential
Subsegments:
1) By Emulsion: Acrylic Emulsions, Vinyl Acetate Emulsions, Styrene-Butadiene Emulsions
2) By Wood Coatings: Stains, Varnishes, Sealants, Lacquers
3) By Enamels: Oil-Based Enamels, Water-Based Enamels, Spray Enamels
4) By Other Product Types: Primers, Specialty Coatings, Thinners and Additives
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Which Trends Are Expected To Transform The Decorative Coatings Market?
The evolution of new product innovations is a crucial trend experienced in the decorative coatings industry, which enriches its popularity. Prominent companies in this market have their attention settled on crafting cutting-edge products to consolidate their stand. Kapci Coatings, a chemical manufacturing corporation from Egypt, for example, introduced new decorative items, Elegant 555 and Elegant 545 in June 2022. Embodied with a formula that dries swiftly, these creative decorative items were created as part of the Earth Friendly initiative. The goal of these products is to advocate for the expanded use of sustainable, water-based alternatives in the decorative paints market.
Who Are the Key Players in the Decorative Coatings Market?
Major companies operating in the decorative coatings market include:
• PPG Industries Inc.
• Akzonobel NV
• Sherwin-Williams Co.
• Valspar Corp.
• Asian Paints Ltd.
• Berger Paints Ltd.
• Cabot Corporation
• DAW SE
• Jotun Paints Ltd.
• Masco Corp.
• Brillux GmbH & Co. KG
• BASF SE
• Vogel Paint and Wax Company
• Kansai Paint Co. Ltd.
• Kelly-Moore Paints Company Inc.
• RPM International Inc.
• Nippon Paint Holdings Co. Ltd.
• Axalta Coating Systems Ltd.
• Teknos AG
• Mankiewicz India Pvt. Ltd.
• Meffert AG Farbwerke
• Cromology SL
• Tikkurila OYJ
• Hempel AS
• Clariant AG
• Benjamin Moore & Co.
• Dunn-Edwards Corporation
• Behr Process Corporation
• Farrow & Ball Ltd.
What Is The Most Dominant Region In The Decorative Coatings Market?
Asia-Pacific was the largest region in the decorative coatings market in 2024. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the decorative coatings market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
