Decorative Coatings Market - Overview
Decorative coatings improve esthetics of and protection to surfaces. They are applied to commercial and residential buildings. These coatings protect surfaces from elements such as moisture, UV radiation, and microbes. Decorative coatings include paints, wood stains or transparent coatings, enamels, and lacquers for floors, roofs, walls, ceilings, decks, pavements, walkways, and concrete surfaces. Reconstruction and renovation activities in the construction sector are propelling the global decorative coatings market.
Based on resin, the decorative coatings market has be segmented into acrylics, polyurethanes, alkyds, vinyl acetate emulsions, epoxies, and other resins such as polyester and fluropolymer. Advantages of acrylics include superior color retention, maintenance of film clarity, resistance to chalking, and gloss retention.. In the decorative coatings market, acrylics binders with excellent pigment-binding capacity and water-resistance are preferred over other types of binders.
Polyurethanes are commonly used as decorative metal coatings. Polyurethane coatings offer flexibility in terms of finishes, which include high-gloss finish, semi-gloss finish, and matte finish. They are often used as a topcoat on epoxy primer. Key properties of polyurethanes are weather resistance, corrosion resistance, abrasion resistance, chemical resistance, and oil resistance. Expansion of the segment can be attributed to properties of polyurethanes such as high tensile strength and abrasion resistance.
In terms of technology, the decorative coatings market has been classified into water-borne, solvent-borne, UV-cured, and other technologies including powder-based and oil-based. The water-borne decorative coatings segment is estimated to expand rapidly during the forecast period due to their eco-friendly nature. Water-borne decorative coatings meet the standards imposed by the U.S. and European Union on VOC emissions. In addition to low toxicity, their high water content also makes water-borne coatings less flammable and reduces hazardous waste disposal.
Based on application, the decorative coatings market can be bifurcated into residential and non-residential. Decorative coatings are used in residential construction, which include new construction and repainting. Growing population and rising urbanization in emerging economies are anticipated to drive the decorative coatings market. Decorative coatings are primarily used in interior applications in residential constructions include coating for furniture, shelves, and decorative structures.
In terms of region, the decorative coatings market can be segregated into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In terms of consumption, Asia Pacific is expected to create lucrative opportunities for the decorative coatings market during the forecast period. The market in countries in Asia Pacific, especially China and India, is expanding significantly, thus boosting the demand for building and construction materials, including decorative coatings. Rising population is a key factor fueling the decorative coatings market in the region. Furthermore, North America is projected to be highly lucrative region owing to the recovery of the construction industry. Major players operating in the decorative coatings market engage in acquisitions to increase their market share. This, in turn, is anticipated to propel the market.
The report analyzes and forecasts the decorative coatings market at global and regional levels. The market has been forecast in terms of volume (thousand liters) and revenue (US$ Mn) from 2018 to 2026. The study includes drivers and restraints of the global decorative coatings market. It also covers the expected impact of these drivers and restraints on the demand for decorative coatings during the forecast period. The report also highlights growth opportunities for the decorative coatings market at the global and regional levels.
The report comprises a detailed value chain analysis, which provides a comprehensive view of the global decorative coatings market. The Porter’s Five Forces model for the decorative coatings market has also been included to help understand the competition landscape. The study encompasses market attractiveness analysis, wherein segments have been benchmarked by resin, technology, and application based on their market size, growth rate, and general attractiveness.
The study provides a decisive view of the global decorative coatings market by segmenting it in terms of by base resin, technology, application, and region. These segments have been analyzed based on present and future trends. Regional segmentation includes current and future demand for decorative coatings in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report also covers segmentation based on individual by resin, technology, and application of the market in all regions.
The study includes profiles of major companies operating in the global decorative coatings market. Some of the major companies operating in the decorative coatings market include Akzo Nobel N.V, PPG Industries, Inc., Kansai Paint Co., Ltd., BASF Coatings GmbH, The Sherwin Williams Company, RPM International Inc., Axalta Coating Systems, Clariant, Nippon Paint, Celanese Corporation.
The report provides the estimated market size of the global decorative coatings market for 2017 and forecast for the next nine years. The size of the global decorative coatings market has been provided in terms of volume and revenue. Market numbers have been estimated based on resin, technology, application, and region. The market size and forecast for each resin, technology, and application segment has been provided for the global and regional markets.
Global Decorative Coatings Market, by Resin
Global Decorative Coatings Market, by Technology
Global Decorative Coatings Market, by Application
Global Decorative Coatings Market, by Region
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