,” the Decorative Coatings market will be primarily driven by the growth of the construction sector, and the growing consumer trend towards green coatings.
Asia Pacific to Dominate the Decorative Coatings Market
Asia Pacific will have the largest share in the Decorative Coatings market during the forecast period due to the increase in construction spending and economic developments in India, China, Indonesia, South Korea, and Thailand. China will dominate the market due to the growing number of domestic producers and increasing infrastructure projects. The Middle East will achieve a substantial growth due to the increase in construction activities in Qatar and the UAE.
Selected Regulatory Analysis Done in the Full Report:
By application, the residential segment will dominate the Decorative Coatings market during the forecast period. This is due to the increase in disposable income, growth of population, and progress of infrastructure projects in various regions. By formulation, the water-borne coatings segment is expected to experience a fast growth. This is due to the growing consumer demand for water-borne coatings, which have excellent heat resistance, adhesion, and abrasion properties.
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Selected Driving Factors Mentioned in the Full Report
Infrastructural development in growing economies will boost the demand for industrial coatings during the forecast period.
Increasing awareness among consumers about environmentally friendly products will foster the demand for green decorative coatings during the forecast period.
Growing R&D investments will provide opportunities for the Decorative Coatings market.
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Key Players of the Decorative Coatings Market
The key players of the Decorative Coatings Market include PPG Industries, Sherwin-Williams, Axalta Coating Systems, and AkzoNobel.
PPG Industries produces coatings for agricultural and construction equipment, consumer electronics, appliances, and automotive parts.
Sherwin-Williams, which manufactures, distributes and sells coatings and related products, acquired Valspar Corporation – another major player in the coatings industry – in June 2017.
Axalto Coating Systems is involved in the development, manufacture and sale of liquid and powder coatings. The company operates 51 manufacturing facilities and serves approximately 130 countries.
AkzoNobel acquired BASF’s Industrial Coatings business in late 2016, and further acquired V.Powdertech, Flexcrete Technologies, and Disa Technology in 2017.
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Paints and Coatings Market: By Formulation (High Solids Coating, Solvent Based, Water Based, Powder Coatings and Other); By Resin (Alkyd, Epoxy, Acrylic,Polyurethane, Polyester, Vinyl and Others); By Component; By Application (Decorative Paints, Transportation, Industrial, Wood Cuttings and Others) By Geography (North America, Europe, APAC and Row) - Forecast(2018-2023)
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