Global Decorative Coating Market: Market Research by Knowledge Sourcing Intelligence
The global decorative coating market is estimated to reach US$103.548 billion by 2023, increasing from US$76.900 billion in 2017 at a CAGR of 5.08% over the forecast period. Coatings and paints provide protection against corrosion and harsh environmental conditions to objects like wall, wood, and metals while providing an attractive smooth finishing look. Due to the rising disposable income worldwide, the interest towards decorative items has been rising, boosting the growth of the global decorative coating market. Owing to the wider application and growing demand for the interior designing there have been advancements in the technologies in order to meet these aesthetic needs which include customer-specific coatings as well. The Asia Pacific region is projected to hold a significant market share by the end of the forecast period owing to the rising awareness among people regarding the use and impact of decorative paints and coatings. Also, changing lifestyle will further boost the decorative paints adoption leading to the rise in the growth of the global decorative coating market.
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| Sample view of Decorative Coating Market Forecast, US$ Billion, 2017 To 2023 |
Global Decorative Coating Market by Application:
By application, the global decorative coatings market has been segmented as concrete, walls, wood, interior fittings, and others. Wood holds a significant share in this market on account of rapid growth of wooden furniture manufacturing in many regions. Continuous increase in the sales and renting of wooden furniture has been contributing to the growth of this market in this segment. Concrete and interior fittings are also contributing to the market growth owing to the increasing focus of industry players towards increasing the aesthetic appeal of these products to boost their sales. Furthermore, changing lifestyles coupled with rising spending capacity have led to increasing popularity of antique furniture among people. Growth of online retailing channels has been contributing to the sales of both new and antique furniture, thus further contributing to the growth of decorative coatings market in this application. The market research provides a detailed analysis of global decorative coating market on the basis of various segment like- by Application, by Geography etc.
Global Decorative Coating Market by Geography:
Geographically, global decorative coating market is segmented as North America, South America, Europe, Middle East and Africa, and Asia-Pacific. APAC is projected to witness the fastest regional market growth during the forecast period owing to rising disposable incomes and infrastructural development in countries like China and India. Companies are also investing and launching new products to tap this emerging market for decorative coatings. In 2016, BASF launched two new polymer dispersion products in the Indian paints and coatings market which help keep building exteriors clean and durable while reducing carbon footprints by reducing titanium dioxide.
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| Sample view of Global Decorative Coating Market Share by Geography |
For our Chemicals and Materials coverage:
High demand for decorative coatings is also attributed to high disposable incomes and living standards in the country which lead to higher spending on making homes more appealing by using decorative interior fittings and wooden floorings.
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