Decorative Coatings Market Size, Industry Share, Recent Trends, Competitive Landscape, Application Analysis and Growth by Forecast to 2023

iCrowd Newswire
22 Jan 2021, 22:33 GMT+10

Market Overview:

Decorative Coatings are known for their ability to produce a special coating on the surface of several materials to protect them from any adverse impacts. These decorative coatings can be used as a protectant & colorant for metal. It can protect wooden & concrete structures from getting bleached. It can also prevent chalking and general deterioration. In the market, there are two types available; Water-borne and solvent-borne. Both these segments contribute notably to the growth of the market. Their ability to protect plastic and metal components can also be taken into account for a better understanding. The construction industry can spur the global market for decorative coatings between 2018 and 2023, which MRFR has considered as the forecast period for the report.

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The rising population, better disposable income, growing industrialization & urbanization, and others can be taken into account for a detailed reading of the prospect of the decorative coatings market. However, the market is witnessing a surge in the implementation of stringent policies that can deter the growth rate of the market. However, innovations can assist the market in finding back the lost grounds.

Competitive Analyses

PPG Industries Inc.

BASF SE

Akzo Nobel N.V.

The Sherwin-Williams Company

Kansai Paint Co., Ltd.

Asian Paints Limited

Nippon Paints Co. Ltd

Arkema S.A.

The Valspar Corporation

Tikkurila Oyj

In October 2019, Intevac, Inc, announced the launch of its DiamondClad, which can be termed as a superlative decorative painting. The product is a type of scratch-proof solution. It has high optical clarity and better durability than its older versions.

Market Segmentation:

The report published by MRFR, with an intent to see the Global Decorative Coatings Market from a close quarter, segments the market on the basis of technology, type, and application. Such a segmentation has a better understanding of various market influencers and that study has been backed by volume-wise and value-specific understanding of the market.

By type, the market for the Decorative Coatings can be segmented into the emulsion, enamel, primer, and others. Decorative Metal Coatings would trigger the high inclusion of these segments in the coming years.

By technology, the market report relying on the decorative coatings market can be segmented into water-borne and solvent-borne. Inclusion of eco-friendly ways to inspire better growth for the water-borne segment in the coming years.

By application, the decorative coatings market can be segmented into non-residential, residential, and others. Both residential and non-residential segments can witness high growth in demand for decorative coatings for concrete.

Regional Analysis:

The global market for decorative coatings, as predicted in the report published by MRFR, would see the Asia Pacific region as the fastest-growing region during the forecast period of 2017 and 2023. This would gain much from the expanding construction industry. The Middle East & Africa can also promise high growth for the market with a significant hike in the construction industry in countries like Dubai, Saudi Arabia, and others. Dubai is projecting itself as a major tourist and business destination owing to which several construction-related activities are going on. This can fetch a high amount of revenues.

North America's growth in the market would be superlative with several countries like the US and others making a significant impact on the market. The US was the largest contributing country in 2016. In Europe, the growth would be triggered by countries like Germany, Russia, the UK, France, and others. The growth would gain much traction from rising construction and renovation activities.

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Tags: Recent Trends, Application Analysis and Growth by Forecast to 2023, industry share, competitive landscape, Decorative Coatings Market Size, Decorative Coatings Market