Decorative Coatings Market by Resin (Alkyds, Acrylics, Epoxies, Polyurethanes, and Others), Technology (Water-Borne, Solvent-Borne, UV-Cured, and Others), Application (Residential and Non-Residential): Global Market Size Estimates and Forecast (2022-2030)

Code: BMIRE00026667 | Pages: 100 | Industry: Chemicals and Materials | Date: Oct 2022 | Type: Global

The market crossed US$ 75.4 billion mark in 2022 and is expected to hit US$ 107.8 billion by 2030, recording a CAGR of 4.6% during the forecast period.

Rising decorative coatings demand for the construction industry to favor market growth 

Decorative coatings are extensively used on facades, pre-fabricated materials, and pavements during construction activities. Hence, growth of the building & construction industry is expected to drive the decorative coatings market growth. In addition, increasing trend of interior decoration & remodelling of living spaces among households and commercial establishments is likely to increase the decorative coating material’s demand. Furthermore, growing preference for antibacterial and eco-friendly acrylic decorative coatings for carrying out their constructional activities is likely to offer newer market growth opportunities.

Within the report, the market is segmented into resin, technology, application, and geography. By resin, the market is further segmented into alkyds, acrylics, epoxies, polyurethanes, and others. On the basis of technology, the market is bifurcated into water-borne, solvent-borne, UV-cured, and others. By application, the market is categorized into residential and non-residential. Geographically, the market is sub segmented into North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa.

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Increasing demand for sustainably-made decorative coatings to offer futuristic market growth opportunities

Decorative coatings effectively protects substrate material surfaces from wear & corrosion and provide an aesthetic outlook to the building surfaces. Increasing incidences of skin allergies due to the traditionally made surface coating materials is pushing manufacturers toward developing eco-friendly material based decorative coatings, offering newer market growth opportunities. In addition, technological advancement in the development of the decorative coatings is likely to support the market growth during the forecast period of 2022-2030.

Rising adoption in various application areas is one of the major factors accelerating the market growth

Decorative coating materials are widely used in various construction applications such as residential buildings, bridges & roads, and stationery structures such as facades, pavements, and pre-fabricated materials. Increasing demand for innovative decorative paints and coatings for fulfilling their interior construction needs is expected to drive the market growth. In addition, increasing infrastructural developments of bridges & roads and stationery structures is also favoring the product demand globally.

Recent strategic developments in decorative coatings market

The decorative coatings market has undergone several significant developments, and a few of these have been mentioned below:

  • In June 2021, PPG Industries, Inc., acquired Tikkurila Oyj, a Finnish manufacturer of paints and coatings to build its portfolio of decorative paint and coating products.
  • In November 2021, Covestro AG, a German producer of polyurethane and polycarbonate materials launched ‘Decovery® SP-8310,’ a bio-based breathable resin solution to enable decorative coatings for the exterior surfaces.
  • In April 2020, Akzo Nobel N.V., a Dutch multinational company launched Dulux EasyCare+, a Scuff Resist technology-based decorative coating solution in Poland.

The decorative coatings market is driven by several players implementing strategic activities such as investments, new launches, mergers & acquisitions, and partnerships. Akzo Nobel N.V., Axalta Coating Systems, LLC., BASF SE, Celanese Corporation, and Hempel A/S are among the prominent players operating in the market.

Target audience for the report:

  • Chemicals and materials manufacturers
  • Chemicals and materials suppliers
  • Paints and coatings manufacturers
  • Paints and coatings suppliers
  • Interior decoration services providers
  • Decorative coatings-related associations, organizations, forums, and alliances
  • Government bodies, such as regulating authorities and policy makers
  • Venture capitalists, private equity firms, and start-up companies
  • End users of decorative coatings
  • Research institutes, organizations, and consulting companies

Scope of the report:

In this report, the market has been segmented on the basis of:

  • Resin:
    • Alkyds
    • Acrylics
    • Epoxies
    • Polyurethanes
    • Others
  • Technology:
    • Water-Borne
    • Solvent-Borne
    • UV-Cured
    • Others
  • Application:
    • Non-Residential
    • Residential
  • Region
    • North America
    • Europe
    • Asia Pacific (APAC)
    • South & Central America
    • Middle East & Africa
  • Companies profiled
    • AK Steel Holding Corporation
    • Ansteel Group
    • ArcelorMittal S.A.
    • China Baowu Steel Group Corp., Ltd.
    • FE Steel

The List of Companies
- AK Steel Holding Corporation
- Ansteel Group
- ArcelorMittal S.A.
- China Baowu Steel Group Corp., Ltd.
- FE Steel

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