APAC to Dominate Decorative Coatings Market through 2025
Demand from various end user industries for different applications to drive the growth of global decorative coatings market
According to TechSci Research report, “Global Decorative Coatings Market By Resin Type (Acrylic Resin, Alkyd Resin, Vinyl Resin, Polyurethane Resin, Others), By Technology (Waterborne Coatings, Solvent borne Coatings, Powder Coatings), By Coating Type (Interior, Exterior, Others), By User Type (Diy, Professional), By Product Type (Emulsions, Wood Coatings, Enamels and Others), By Application (Residential Vs Non-Residential), By Region, Competition, Forecast & Opportunities, 2025”, global decorative coatings market is expected to grow at a steady CAGR until 2025. Surging requirement for eco- friendly coatings across the globe is one of the major factors accounting for the growth of global decorative coatings market. Moreover, growing construction activities coupled with rising investments in infrastructure developments across the globe is further expected to bode well for the growth of global decorative coatings through 2025. In addition to this, increased focus on research and development activities globally, is positively influencing the growth of global decorative coatings market. Also, stringent environmental regulations by the governing bodies regarding environmental protection coupled with booming economic growth in emerging economies is anticipated to fuel the growth of global decorative coatings market during the next five years. Furthermore, these coatings help in protection of walls from external harsh environments extremes like temperature, UV radiations, moisture, among others is making them a popular choice.
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Global decorative coatings market can be segmented based on resin type, technology, coating type, user type, product type, application, company and region. Considering the resin type, the market is fragmented into acrylic resin, alkyd resin, vinyl resin, polyurethane resin and others. The acrylic segment dominated the global decorative coatings market in terms of largest revenue until 2019 and is further anticipated to hold its dominance during the forecast years as these acrylic decorative coatings are widely used owing to their characteristics such as weathering and oxidation resistance. Additionally, acrylics resin type coatings hold color better and provide gloss retention, thereby positively influencing the growth of the segment across the globe. More than that, properties such as high durability on exposure to wind, rain, UV light, snow is further boosting the growth of segment.
PPG Industries, Inc., Akzo Nobel N.V., The Sherwin-Williams Company, Kansai Paints Co., Ltd., Asian Paints Limited, Nippon Paint Holdings Co., Ltd., BASF SE, Masco Corporation, Jotun Group, RPM International Inc. are among others are the leading players operating in global decorative coatings market. The players are adopting several growth strategies to enhance the market scenario of decorative coatings. Other competitive strategies include mergers & acquisitions to diversify their product portfolio in order to strengthen their market position.
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“Asia-Pacific is forecast to dominate the global decorative coatings market during the course of next five years on the account of rising population and economic growth in the region. Moreover, residential and non-residential sectors in economies such as China, India, Vietnam and Bangladesh are expected to develop, which is anticipated to contribute to the growing trend. Furthermore, expanding automobile sector in these regions is further expected to boost the growth of global decorative coatings market through 2025.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Global Decorative Coatings Market By Global Decorative Coatings Market By Resin Type (Acrylic Resin, Alkyd Resin, Vinyl Resin, Polyurethane Resin, Others), By Technology (Waterborne Coatings, Solvent borne Coatings, Powder Coatings), By Coating Type (Interior, Exterior, Others), By User Type (Diy, Professional), By Product Type (Emulsions, Wood Coatings, Enamels and Others), By Application (Residential Vs Non-Residential), By Region, Competition, Forecast & Opportunities, 2025” has evaluated the future growth potential of global decorative coatings market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in global decorative coatings market.
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Source : TechSci Research