Global Decorative Coating Market to Reach $159.8 Billion by 2030

The global decorative coating market is anticipated to expand at a CAGR of 5.2% over the forecast period (2022-2030). Rising infrastructure development activities across the globe and the growing popularity of water-based coatings are driving the growth of the market. The market is further propelled by the increasing disposable income of consumers, increasing investments in R&D, and strong demand for sustainable coatings.

Decorative coatings are specialized coatings used to enhance the aesthetic appeal of buildings and other structures. They provide a protective layer against weathering, corrosion, and other environmental factors. Decorative coatings are available in a wide range of colors, textures, and finishes, allowing architects and designers to create unique and visually appealing spaces.

The Asia Pacific region is predicted to witness significant growth in the decorative coating market during the forecast period. The region is witnessing rapid urbanization, increasing disposable incomes, and growth in construction activities. These factors are increasing the demand for decorative coatings in residential, commercial, and industrial sectors. Within the Asia Pacific, China is expected to hold a substantial market share in the decorative coating market.

The decorative coating market is segmented by product type, technology, application, and region. Based on product type, the market is segmented into paints & coatings, enamels, primers, stains, varnishes, and others. Based on technology, the market is segmented into water-based, solvent-based, and powder-based coatings. By application, the market is segmented into residential, commercial, and industrial. Based on region, the market is segmented into North America, Europe, Asia Pacific, South America, Middle East and Africa.

Some of the key players in the decorative coating market include Akzo Nobel N.V., Asian Paints Limited, Axalta Coating Systems, BASF SE, Berger Paints India Limited, Jotun A/S, Kansai Paint Co. Ltd., Nippon Paint Holdings Co. Ltd., PPG Industries, Inc., RPM International Inc., The Sherwin-Williams Company, and Tikkurila OYJ.

Key Market Developments

• New product launches with improved features and performance
• Strategic partnerships and collaborations between key players
• Expansion of production facilities to meet the growing demand
• Investments in R&D activities to develop innovative and sustainable coatings