Decorative Coatings Market Size AndForecast
The Global Decorative CoatingsMarket report provides a holistic evaluation of the market for the forecastperiod. The report comprises various segments as well as an analysis of thetrends and factors that are playing a substantial role in the market. Thesefactors; the market dynamics involve the drivers, restraints, opportunities,and challenges through which the impact of these factors in the market isoutlined. The drivers and restraints are intrinsic factors whereasopportunities and challenges are extrinsic factors of the market. The GlobalDecorative Coatings Market study provides an outlook on the development of themarket in terms of revenue throughout the prognosis period.
Decorative Coatings Market was valued at USD 63.65 Billion in 2019and is projected to reach USD86.08 Billion by 2027, growing at a CAGR of 3.86 % from 2020 to 2027.
What are Decorative Coatings?
Decorative coatings are liquidpaints and coatings used to coat, enhance, and protect the interior or exteriorsurface of the structure. It can be applied to residential apartments on roofcoatings, wall paints, or deck finishes, building, trims and fittings. Thetopcoat and base coat reflect aesthetic properties coupled with anti-fungal,weather resistance, washability, and anti-dampening properties to the surface.There are three different types of coating – emulsions, wood coatings, andenamels.
Decorative coatings aresignificantly used as a protective agent and colorant for metal, wooden andconcrete structures against bleaching, chalking, and deterioration. Theyimprove working conditions, deliver consistent quality and performance, andimprove cost-benefit ratios. These are predominantly used in metal and plasticindustry, residential, commercial buildings, and in the automotive sector.
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Global Decorative Coatings MarketOutlook
In the report, the market outlooksection mainly encompasses fundamental dynamics of the market which includedrivers, restraints, opportunities and challenges faced by the industry.Drivers and Restraints are intrinsic factors whereas opportunities andchallenges are extrinsic factors of the market.
The rapid growth of theconstruction industry, demand for environmentally-friendly coating systems, andan increase in durable coatings with better performance and aesthetics areexpected to fuel the growth of the global decorative coatings market. Thereconstruction and renovation activities in the construction sector is likelyto drive the demand for the forecast period.
Furthermore, rising awareness amongthe consumers about decorative ideas and designs and growing craze of interiordecoration, and the rising population is the result of large-scale urbanizationacross the world is anticipated to propel the market growth. However, stringentregulations by various government bodies and time-consuming regulatory policieshave restricted the use of toxic organic chemicals used in the production ofdecorative coatings, which is expected to restrain the overall market growth.Whereas, opportunities in less regulated regions, and investments in emergingmarkets offer favorable growth opportunities.
Verified Market Research narrowsdown the available data using primary sources to validate the data and use itin compiling a full-fledged market research study. The report contains aquantitative and qualitative estimation of market elements that interests theclient. The “Global Decorative Coatings Market” is mainly bifurcated intosub-segments which can provide classified data regarding the latest trends inthe market.
Global Decorative Coatings MarketCompetitive Landscape
The “Global Decorative CoatingsMarket” study report will provide a valuable insight with an emphasis on globalmarket including some of the major players such as Akzo Nobel N.V, PPGIndustries Inc., Kansai Paint Co. Ltd., BASF Coatings GmbH, The SherwinWilliams Company, RPM International Inc., Axalta Coating Systems, Clariant,Nippon Paint, Celanese Corporation, and Others. Our market analysis alsoentails a section solely dedicated to such major players wherein our analystsprovide an insight into the financial statements of all the major players,along with its product benchmarking and SWOT analysis. The competitivelandscape section also includes key development strategies, market share andmarket ranking analysis of the above-mentioned players globally.
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