The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

The Business Research Company’s Decorative Coatings Global Market Report 2024 offers crucial insights into the decorative coatings market help businesses analyse and build stronger strategies.

The decorative coatings market has witnessed robust growth in recent years, with its size surging from $87.84 billion in 2023 to an anticipated $94.12 billion in 2024. This commendable growth is underpinned by a significant Compound Annual Growth Rate (CAGR) of 7.1%. The historical ascent of the decorative coatings market can be attributed to a heightened focus on architectural and interior design trends, coupled with the expansion of the real estate and construction industry.

• Factors Driving Historical Growth
  • Architectural and Interior Design Trends
  • Real Estate and Construction Industry Expansion
  • Renovation and Remodeling Projects
  • Color and Aesthetics Preferences
  • Commercial and Hospitality Sector Influence

Anticipating Strong Growth: Forecast Projections

The decorative coatings market is poised for sustained robust growth, with forecasts indicating an expansion to $125.44 billion in 2028. This growth is projected to be supported by a Compound Annual Growth Rate (CAGR) of 7.4%. The anticipated surge in the forecast period can be attributed to various factors, including growing health and wellness considerations, customization and personalization trends, the impact of an aging population and universal design principles, the rise of e-commerce and online sales, the growth of emerging markets, and the ongoing trends of urbanization and infrastructure development.

• Factors Driving Future Growth
  • Health and Wellness Considerations
  • Customization and Personalization Trends
  • Aging Population and Universal Design Principles
  • Growing E-commerce and Online Sales
  • Emerging Market Growth and Urbanization

Urbanization Unleashes Decorative Coatings Surge

The surge in global urbanization is expected to be a pivotal driver of the decorative coatings market’s growth. Urbanization, marked by population movement from rural to urban settings, has led to increased human population densities in urban areas. This trend translates into a growing need for both residential and non-residential structures, propelling the decorative coatings industry forward. Notably, the United Nations Department of Economic and Social Affairs predicts that 68% of the world’s population, or 2.5 billion people, will live in urban areas by 2050.

• Urbanization as a Growth Catalyst
  • Global Rise in Urbanization
  • Population Movement and Urban Densities
  • Expanding Need for Structures

Key Players Shaping the Decorative Coatings Landscape

Major companies contributing significantly to the dynamics of the decorative coatings market include industry leaders such as PPG Industries Inc., Akzonobel NV, Sherwin-Williams Co., and Asian Paints Ltd.

• Leading Companies in the Decorative Coatings Market
• Market Impact and Global Presence
• Innovation and Industry Dominance

Innovative Products Reshape the Market Landscape

Innovation has become a pivotal trend in the decorative coatings market, with major companies focusing on the development of advanced products to fortify their market positions. Covestro AG, a Germany-based premium polymer manufacturer, introduced Decovery SP-8310, a breathable, multi-purpose resin with a 37 percent bio-based composition, catering to the demand for more durable outdoor coatings. The market has also witnessed strategic acquisitions, such as PPG Industries Inc.’s acquisition of Tikkurila, a Finland-based chemical manufacturing company.

• Innovation as a Key Growth Trend
  • Introduction of Advanced Decorative Coatings
  • Covestro’s Decovery SP-8310: A Bio-Based Solution
  • Strategic Acquisitions Reshaping the Market

Regional Dynamics: Asia-Pacific Leads, North America Accelerates

In 2023, Asia-Pacific emerged as the largest region in the decorative coatings market, reflecting the region’s growing influence and development. However, North America is anticipated to be the fastest-growing region in the forecast period, further accentuating the global reach of the decorative coatings market.

• Regional Dynamics in 2023 and Beyond
• Asia-Pacific’s Dominance
• Anticipated Fast Growth in North America

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The Decorative Coatings Global Market Report 2024  provides a comprehensive outlook of the decorative coatings market for the historic years (2010 – 2021) and ten years forecast (2023 – 2032). The decorative coatings market forecast offers a thorough analysis on decorative coatings market size, decorative coatings market share, prominent players and their strategies.

The Table Of Content For The Decorative Coatings Market Include:

1. Decorative Coatings Market Executive Summary
2. Decorative Coatings Market Segments
3. Decorative Coatings Market Size And Decorative Coatings Market Growth Rate
4. Key Decorative Coatings Market Trends
5. Major Decorative Coatings Market Drivers
……
25. Key Mergers And Acquisitions In The Decorative Coatings Market
26. Top Decorative Coatings Companies
27. Decorative Coatings Market Opportunities And Strategies
28. Decorative Coatings Market, Conclusions And Recommendations
29. Appendix

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