Decorative coatings are mostly used for decorative applications. However, exterior decorative coatings additionally provide protection from various environmental conditions. These coatings are applied to domestic appliances for greater looks and corrosion protection. Decorative coatings has wide range of applications in new constructions and remodelling of older buildings. The total market for decorative coatings was $25229.52 million in 2017 and is estimated grow with CAGR of 4.24% during the forecast period.
What is Decorative Coatings?
Decorative coatings are the paints and coatings used to coat buildings and homes. Most are designated for specific uses such as roof coatings, wall paints, or deck finishes. No matter its use, each architectural coating must provide certain decorative, durable, and protective functions.
Decorative coatings ensure that the buildings have the longest life span as possible. These coatings are highly useful for enhancing the sheet life, its usage and aesthetic value of the residential and commercial buildings. Major types of resins used for these coatings include alkyd, acrylic, polyurethanes and many more.
What are the major applications of Decorative Coatings?
Decorative Coatings Market has been segmented on basis of applications such as architectural, automotive, domestic appliances and others.
Market Research and Market Trends of Decorative Coatings
- Development of PVD decorative coatings technologies alternatives to chrome plating for automotive.
- In order to obtain a perfect look for an extended period of time and intense use physical vapor deposition technology is essential in decorative coatings which ensures wear resistance to the materials. Major players in the market are developing new series of coatings with a large palette of standard colors for goods that require a wear resistance surface that cannot be provided by electroplating, anodizing or lacquer. The coatings are used in numerous applications ranging from bathroom faucets, firearms, to luxury watches:
- New developments for wood coatings
- Wood is a popular material in construction especially in residential markets. However, it is facing challenges from substitute materials such as wood plastic composites, plastic and fiber cement as they offer greater dimensional stability and resistance to microbial attack. Therefore, wood formulators in decorative coatings are coming up with technical developments in coatings for interior or exterior wood applications and continuously conducting research and development activities which can aid the advancement of the decorative coatings industry and counteract these competitive threats.
- Increasing trends towards green coatings
- Globally, the interest towards green coatings is increasing rapidly due to environmental concerns. This generated a trend in the market and the manufactures are now producing products that are ecofriendly which are fueled by a new sensitivity for environmental issues by customers and policymakers. However, there are differences in the attitudes towards sustainable consumption across the globe.
Who are the Major Players in Decorative Coatings Market?
The companies referred in the market research report include the PPG Industries, Inc., Akzo Nobel N.V., The Sherwin-Williams Company, The Valspar Corporation, Axalta Coating Systems and many others.
What is our report scope?
The report incorporates in-depth assessment of the competitive landscape, product market sizing, product benchmarking, market trends, product developments, financial analysis, strategic analysis and so on to gauge the impact forces and potential opportunities of the market. Apart from this the report also includes a study of major developments in the market such as product launches, agreements, acquisitions, collaborations, mergers and so on to comprehend the prevailing market dynamics at present and its impact during the forecast period 2018-2024.
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