Global Decorative Coatings Market is Expected to Increase around US$ XX Mn by 2025, Due to Increased Application of Decorative Coatings in Construction Activities
The Global Decorative Coatings Market is anticipated to reach about US$ XX Mn by 2025, and anticipated to expand at a CAGR over seven years of forecast period 2019-2025 owing to increased awareness about green environmental regulations, and eco-friendly products.
Precision Business Insights (PBI) in its report titled “Global Decorative Coatings Market: Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2013-2018 and Forecast 2019-2025” assesses the market performance over seven years forecast period from 2019 to 2025. The report analyses the market value forecast and provides the strategic insights into the market driving factors, challenges that are hindering the market revenue growth over forecast period.
The global decorative coatings market size was accounted for US$ XX Mn in 2018 and anticipated to account for US$ XX Mn by 2025. Increased application of decorative coatings for various purposes such as construction activity will create a demand for the growth of the global decorative coatings market. However increased costs of the decorative coatings will hinder the growth of the global decorative coatings market.
Global decorative coatings market segmented on the basis of resin type, product type, technology and application.
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Acrylics Segment Expected to Dominate the Market
Based on resin type, the global decorative coatings market is segmented into acrylics, alkyds, and polyurethane. Acrylics segment is expected to dominate the market due to its peculiar characteristics such as resistance to chalking, optical clarity, resistance to sunlight, rigid with good strength, and excellent dimensional stability.
Water Based Technology Will Dominate the Revenue Share.
Based on technology, the global decorative coatings market is segmented into water based and solvent based technology. Water based technology is expected to dominate the market due to its environmentally friendly nature.
Asia Pacific Accounts for Major Revenue Share for Global Decorative Coatings Market
Precision Business Insights (PBI), global decorative coatings market report analyses the market in different regions of North America, Europe, Asia Pacific, Latin America and Middle East and Africa. According to regional analysis, Asia Pacific accounted for major revenue share due to increased demand of decorative coatings from the growing population and emerging opportunities. U.S accounted for major revenue share due to increased application of decorative coatings in construction industry. Europe exhibits a significant growth in decorative coatings market due to increased application of decorative coatings in wind turbine industries. Latin America shows a significant growth in market owing to increased offshore and onshore application. Middle East and Africa decorative coatings market is also expected to rise in the forecast period due to country’s regulatory policy and increased government initiated plans.
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Strategic Collaboration Play Vital Role in Global Decorative Coatings Market
Market strategies such as collaboration play an important role in the development of the market. For instance, on June 21, 2018 PPG collaborated with Andersen Corporation, for the completion of project named Colorful Communities in order to bring color and vitality to communities where the company operates around the world.
Key players in the market include PPG Industries (U.S.), AkzoNobel N.V. (Netherlands), Sherwin-Williams Company (U.S.), Asian Paints (India), Masco Corporation (U.S.), Kansai Paints Co., Ltd. (Japan), DuluxGroup Ltd. (Australia), Jotun A/S (Norway), DAW SE (Germany), Nippon Paint Co., Ltd. (Japan).
By Resin Type
By Product Type
o Wood Coatings
By Technology Type
o Water Based
o Solvent Based
o North America
Rest of Europe
Rest of Asia Pacific
o Latin America
Rest of Latin America
o Middle East and Africa
Gulf Cooperation Council Countries(GCC)
Rest of MEA
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