On the basis of type of architecture, the decorative coatings market can be segmented into architectural lacquers, interior solvent based coatings, exterior solvent based coatings, water based coatings, and other types of architectural coatings. The wood products industry reached USD Axalta introduced waterborne coatings to its growing portfolio of industrial Tufcote offerings June The study also delves into the working of several major companies along with information on their products, strategies, and shares in question.
North America is expected to register a significant growth rate, primarily due to the rise in residential houses sales, coupled with renovation of the existing houses, which is expected to boost the demand for residential construction.
The largest share of the category is attributable to the growing demand for residential construction owing to the rapidly growing population, globally.
Rapidly growing construction industry, primarily in China and India, is a major factor driving the demand for paints and coatings in the region. Stringent regulations on the production of decorative coatings which use harmful VOC chemicals can cause adverse effects on environment and people is a key factor restraining growth of the global decorative coatings market.
The increasing global population and the growing number of nuclear families escalate the demand for new houses every year, which in turn creates demand for paints and coatings.
Major car manufacturers, such as Chevrolet, Daimler, Jeep, Audi, Volvo, and Kia have either set up their automotive manufacturing facilities, or are planning to start new facilities in Asia-Pacific in the near future.
Please connect with our analyst, who will ensure you get a report that suits your needs. On the basis of formulation, the paints and coatings market is categorized into water-based, solvent-based, powder coatings, and UV coatings.
The several applications of decorative coatings include exterior and interior house stains, varnishes, sealers, primers, and paints. In addition, high investments focusing to offer cost-effective, high performance multi-functionality decorative coatings is another factor expected to drive growth of the global decorative coatings market over forecast period.
The tilt towards westernized architecture and improving living standards is further likely to propel the growth of the market, whereas economic downturn in the developed regions is likely to slow down the market in North America and Asia Pacific. Based on resin type, the paints and coatings market is categorized into acrylic, polyester, polyurethane, epoxy, and others.
Nonetheless, new construction activities and repainting of existing buildings is expected to be potential opportunity for key players in the global decorative coatings market over forecast period.
Rising Automotive Production in Asia-Pacific China, India, Philippines, and Vietnam are turning out to be potential markets for the demand and supply of automobiles, with many automotive manufacturers planning their manufacturing and assembly plants in these countries.
Water-based formulation accounted for more than The market is also expected to witness growth during the forecast period owing to the growing demand for renovation and repair of commercial buildings, houses, malls, and schools in the region.
Paints and Coatings Market Dynamics Increasing adoption of smart coatings is the major trend witnessed in the paints and coatings market.Global Paints and Coatings Market Will Reach $ billion in According to a new market report published by Persistence Market Research “Global Market Study on Paints and Coatings: Architectural and decorative paints and coatings are used mainly applied on interior and exterior walls of houses and corporate buildings.
However, the threat of product substitution is expected to be a restraint to the global decorative paints market and use of nanotechnology based powder paints and coatings is expected to pose significant challenges to traditional decorative paints manufacturers globally.
The global paints & coatings market is dominated by architectural coatings (both in terms of revenue and volume). The global residential sector is growing consistently, owing to the recovering construction industry in Europe and increasing investments by the Indian and Chinese governments.
Global Decorative Coatings Market: Overview. Decorative or architectural coatings are the paints and finishes that are used on residential and commercial mi-centre.comon: State Tower, 90 State Street, SuiteAlbany, The global paints and coatings market was valued at $ billion in and is projected to witness a CAGR of 6% during the forecast period.
Expanding automotive industry, growing construction activities, and increasing demand from the oil and gas industry are the major factors. mi-centre.com delivers in-depth insights on the global decorative coatings market in its upcoming report titled, “Global Decorative Coatings Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to ”.
The global decorative coatings market is estimated to register a CAGR of X.X% in 4/4.Download