Allied Market Research published a new report, titled, " Decorative Coatings Market ". The report has offered an all-inclusive analysis of the global Decorative Coatings Market taking into consideration all the crucial aspects like growth factors, constraints, market developments, top investment pockets, future prospects, and trends. At the start, the report lays emphasis on the key trends and opportunities that may emerge in the near future and positively impact the overall industry growth.
The Decorative Coatings market is expected to grow significantly in terms of volume during the forecast period. The increased demand from the ceramic industry, development of the nuclear power plants, and upsurge in the use of surface coating are expected to drive the market in the up coming years. The development of the ceramic industry and accelerated use of tiles and granites in many counties drive the market growth.
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Primary Catalysts for the Global Decorative Coatings Market
The decorative coatings market is anticipated to experience significant expansion in the foreseeable future, primarily driven by the increasing global population. The escalating population rates worldwide are recognized as a pivotal factor contributing to the growth of the decorative coatings market. Furthermore, the surge in customization trends for refurbishments and dyes, coupled with a rise in per capita income in emerging economies, is expected to drive market growth within the projected timeframe. The growing purchasing power of consumers is poised to stimulate the renovation of both residential and commercial spaces.
COVID-19 scenario analysis
Owing to the outbreak of the COVID-19 pandemic, the global decorative coatings market is expected to witness a slowdown during the next couple of years. The global decorative coatings industry, once thriving with increased investments, has been severely affected with the lockdown imposed by the governments across various countries. In addition, dearth of labors coupled with potential supply chain bottlenecks of materials and equipment is expected to cause project delays in the ongoing funded projects and may lead to reduced spending in the upcoming projects. Moreover, companies are dealing with missing sales and disrupted supply chains as production activities are shutdown.
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Market Overview: Opportunities and Challenges in Decorative Coatings
Decorative coatings play a vital role in the construction and renovation of residential buildings, thereby contributing significantly to the global market's growth. The anticipation is driven by factors such as the increasing population rate and rapid urbanization in emerging nations, which are expected to boost the demand for decorative coatings. Specifically, in residential constructions, these coatings find applications in interior spaces, including furniture, shelves, and decorative structures.
Key drivers of market growth include the rising demand from the construction industry and the growing consumption rate, coupled with the environmentally sustainable characteristics of decorative coatings. The market is further propelled by innovative strategies adopted by leading players to fortify their presence globally and increased investments in emerging nations. These factors are poised to offer lucrative opportunities for market expansion in the forecast period.
However, challenges arise from the implementation of stringent guidelines by various government authorities, limiting the use of toxic organic compounds in the manufacturing process of decorative coatings. This restriction is predicted to impede the growth of the market. Adapting to eco-friendly alternatives and addressing regulatory compliance will be crucial for industry players to navigate these challenges and sustain growth in the competitive market landscape.
Key benefits of the report
- This study presents the analytical depiction of the global decorative coatings industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global decorative coatings market share.
- The current market is quantitatively analyzed to highlight the global decorative coatings market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed market analysis depending on competitive intensity and how the competition will take shape in coming years.
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Key Players in the Decorative Coatings Market:
- Benjamin Moore
- Axalta Coating Systems
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Decorative coatings are the paint or coating materials used or applied for the enhancement of physical strength and aesthetic appeal of the surfaces they are applied to.
They protect against corrosion, bacteria, moisture and even UV radiation.
They are available in a number of different colours which makes the application of these coatings on the different sources appealing.Decorative Coatings Market is set to rise from its initial estimated value of USD 26.97 billion in 2018 to an estimated value of USD 39.09 billion by 2026, registering a CAGR of 4.75% in the forecast period of 2019-2026.
This rise in market value can be attributed to the increased urbanization and industrialization worldwide.
The overall spend on construction has increased which is expected to positively impact the decorative coatings market in the forecast period.Get Sample PDF (including COVID19 Impact Analysis) of Market Report @ https://www.databridgemarketresearch.com/request-a-sample/?dbmr=global-decorative-coatings-marketMarket Drivers and Restraints:Increased urbanization and industrial worldwide driving the rise in construction is expected to drive the growth for decorative coatings marketAdvancements and developments in the market is also expected to drive the market growthEnvironment effects of solvent-borne coatings with VOC emissions involved in its production is expected to restrain the market growthVulnerability and fluctuation in the prices of raw materials is also expected to restrain the market growth The major players covered in the Decorative Coatings Market Few of the major competitors currently working in the decorative coatings market are PPG Industries Inc., Akzo Nobel N.V., The Sherwin-Williams Company, Axalta Coating Systems LLC, NIPSEA GROUP, Kansai Paint Co.Ltd., Bayer AG, KCC CORPORATION, Jotun, Koninklijke DSM N.V., BASF SE, Benjamin Moore & Co., Masco Corporation, DAW SE, The Arkema Group, Berger Paints India Limited, Cabot Corporation, Clariant, Eastman Chemical Company, Tikkurila, Cromology, HEMPEL A/S, Ashland, and RPM International Inc.MAJOR TOC OF THE REPORTChapter One: Decorative Coatings Market OverviewChapter Two: Manufacturers ProfilesChapter Three: Global Decorative Coatings Market Competition, by PlayersChapter Four: Global Decorative Coatings Market Size by RegionsChapter Five: North America Decorative Coatings Market Revenue by CountriesChapter Six: Europe Decorative Coatings Market Revenue by CountriesChapter Seven: Asia-Pacific Decorative Coatings Market Revenue by CountriesChapter Eight: South America Decorative Coatings Market Revenue by CountriesGet Detail TOC@https://www.databridgemarketresearch.com/toc/?dbmr=global-decorative-coatings-marketKey Report HighlightsComprehensive pricing analysis based on different product types and regional segmentsMarket size data in terms of revenue and sales volumeDeep insights about regulatory and investment scenarios of the global Decorative Coatings Market Analysis of market effect factors and their impact on the forecast and outlook of the global Decorative Coatings Market The detailed assessment of the vendor landscape and leading companies to help understand the level of competition in the global Decorative Coatings Market A roadmap of growth opportunities available in the global Decorative Coatings Market with the identification of key factorsThe exhaustive analysis of various trends of the global Decorative Coatings Market to help identify market developmentsKey Questions Answered in Report:What is the key to the Decorative Coatings Market ?What will the Decorative Coatings Market Demand and what will be Growth?What are the latest opportunities for Decorative Coatings Market in the future?What are the strengths of the key players?Access Full Report @https://www.databridgemarketresearch.com/reports/global-decorative-coatings-marketAbout Us:Data Bridge Market Research set forth itself as an unconventional and neoteric Market research and consulting firm with unparalleled level of resilience and integrated approaches.
We are determined to unearth the best market opportunities and foster efficient information for your business to thrive in the marketContact:Data Bridge Market ResearchTel: +1-888-387-2818Email: [email protected] Related Reports@Matting Agents MarketMedicinal Chemistry for Drug Discovery MarketMelamine Formaldehyde Market
The global decorative coatings market size is expected to value at USD 106.97 billion by 2022.
The market is subject to witness a substantial growth due to the growing construction activities, rapid urbanization, increasing population and growing infrastructural spending by both developing and developed economies across the globe.
Globally, the decorative coatings market is predicted to grow at CAGR of 6.1% in forecast period, providing numerous opportunities for market players to invest in research and development in the market.
The recent technological advancement and development of novel products has led to addition of superior properties such as protection from moisture, corrosion resistance, bacteria and heat resistance, thus escalating market progress, in the recent years.
Growing need for environmental-friendly alternatives due to stringent laws and regulation by regional governments across the globe are expected to boost the growth of decorative coatings industry over the forecast period.
In addition, stringent environmental laws to regulate volatile organic compounds (VOCs) to improve indoor air quality in North America and European region is estimated to increase adoption of waterborne technology in domestic and commercial buildings over the forecast period.
