Global Decorative Paints Market Overview:
Paints and coatings assist as the first line of defense between the facility and the environment, although this synthetic product composed of hematite and manganese oxide is also applied for enhancement purposes. Synthetic decorative paints apart from aesthetic feasibility also affects the substrate’s functionality such as insulation, adhesion, wettability, moisture control, UV radiations resistance, corrosion resistance, and wear resistance. As per the IndustryARC business intelligence report, the global decorative paints market size was around $76655 million in 2018, and its value will to grow at a CAGR of 5.30% during the forecast period (2019-2025). The first instance of paints were found as ancient cave paintings and now it has transformed itself all the way into a recognized epidemic business arcade.
Global Decorative Paints Market Outlook:
In the yesteryears, paints market share witnessed an unprecedented growth following the industrial revolution and urbanization, and was considered as a prominent element of global economy. According to a report by The International Financial Corporation (IFC), a member of the World Bank Group, nearly 75% of the architecture that will exist in 2050 is yet to be built and the annual obligatory investment to meet the objective is estimated to be around $3.3 trillion. This predominant situation is gravitating the architectural coatings segment of the decorative paints market towards exponential growth with a CAGR of around 5.6% going through 2025.
As per an acute analysis of the global decorative paints regional aspects, APAC region is estimated in this report to lead the regional outlook segment owing to rapidly growing disposable income of the middle class families, adoption of westernized culture and mandatory rapid construction housing enormous population especially in major economies like India and China. According to the analyst, APAC region relishes a major 44% share under its own territory of the global decorative paints market demand. With India and China hosting nearly 35% of the global population, such dominance is inevitable due to the robust commercial and residential sector construction.
Global Decorative Paints Market Growth Drivers:
Association of beauty will wellness is a major factor propelling the decorative paints market growth. Aesthetic feasibility in infrastructures is up the trends table along with functionality such as insulation, adhesion, wettability, moisture control, UV radiations resistance, corrosion resistance, or wear resistance. Decorative paints market is gaining traction as it caters both the demands simultaneously.
The global construction industry is the world’s largest consumer of raw materials, and hence with such an abundant demand in future and influx on of investments, the adjacent sectors are bound to divert some revenue and business into their own pockets. Consequently, decorative paints application in several stages of construction operations, as roof coatings, wall paints, or deck finishes for aesthetic appeal is forecast to poise the market with copious opportunities and market share.
Global Decorative Paints Market Challenges:
Owing to the hazardous effects of lead in paints on environment as well as well as individuals coming in contact, several industries have diverted their operations towards an eco-friendly substitute in the form of powder coatings. But decorative paints are an inevitable commodity catering the trending aesthetic feasibility demanded by infrastructure occupants globally.
Global Decorative Paints Market Players Perspective:
Some of the key players mentioned in this market research report are AkzoNobel Coatings NV, Kansai Paint Co. Ltd., Sherwin-Williams Co., ICI Paints, DuPont Coatings and Color Technologies Group, BASF Coatings AG, PPG Industries Inc., and Dow Coating Materials.
Sherwin Williams, one of the global leader in the development, manufacturing, and sale of paint and coatings, recorded net sales of $14,984 million dollars in 2017. The dominance of this market giant can be expressed by the fact that almost 90% of the entire U.S population lives within a 50-mile radius of a Sherwin-Williams store. It has 4,267 company-operated specialty paint stores in the United States, Canada, and the Caribbean.
Global Decorative Paints Market Trends:
- Asian Paints is one of the leading the market players in the APAC region. Indian market in this region exhibits tremendous purchasing capacity of decorative paints. Decorative paints account for 75% of the overall paint market in India. Convergence with technology is driving the marketing deliverance of this arcade. Smartphone apps seek to provide consumers with decorating advice and information about the brands and products “at their fingertips.
- New technological advances are aiding the production of products complying with governmental regulations regarding hazardous effects of lead in paints. A classic example is the 2018 inaugurated paint plant in Ashington, U.K by AkzoNobel Coatings NV. It is said to be most advanced and sustainable paint plant in U.K. This will be the production center for the company’s leading global brand, Dulux, which was also voted as the healthiest brand in the UK.
Global Decorative Paints Market Research Scope:
The base year of the study is 2018, with forecast done up to 2025. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the Global Decorative Paints Market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the types of paints in the Global Decorative Paints Market, and their specific applications in different phases of operations.
Global Decorative Paints Market Report: Industry Coverage
By Product Type: Water Based Decorative Paints, Solvent Based Decorative Paints
By Application: Commercial Sector, Residential Sector
By Price: Premium Range, Medium Range, Distemper Range
The Global Decorative Paints Market report also analyzes the major geographic regions for the market as well as the major countries for the market in these regions. The regions and countries covered in the study include:
- North America: The U.S., Canada, Mexico
- South America: Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, Costa Rica
- Europe: The U.K., Germany, Italy, France, The Netherlands, Belgium, Spain, Denmark
- APAC: China, Japan, Australia, South Korea, India, Taiwan, Malaysia, Hong Kong
- Middle East and Africa: Israel, South Africa, Saudi Arabia
Key Questions Addressed in the Global Decorative Paints Market Report
1. Is the market for Global Decorative Paints growing? How long will it continue to grow and at what rate?
2. Which type of paints presents the major growth opportunities?
3. Is there a possibility for change in the market structure over time?
4. Are additional developments needed for the existing product or services offerings or do the existing products meet the customer demands?
5. Do the key vendors look for partnerships to expand their businesses with respect to geography or product?
6. What is the current status of Global Decorative Paints in different countries?
7. Which are the major relevant product segments within Global Decorative Paints?
8. Which type of equipment will witness heavy adoption in the near future?
9. What are the short-term, long-term, and medium-term growth drivers for the market?
10. What are the short-term, medium-term, and long-term challenges for the market?
11. What are the short-term, medium-term, and long-term opportunities for the market
12. Who are the top players/companies of the market?
13. What are the recent innovations in the market?
14. How many patents have been filed by the leading players?
15. What are the types of patents filed by the leading players?
16. What is the futuristic scenario for the adoption of equipment in the Global Decorative Paints?
17. What is our Vision 2030 Global Decorative Paints Market?
A few focus points of this Research are given below:
- Give a deep-dive analysis of the key operational strategies with focus on the corporate structure, R&D strategies, localization strategies, production capabilities, and sales performance of various companies
- Provide an overview of the product portfolio, including product planning, development, and positioning
- Discuss the role of technology companies in partnerships
- Explore the regional sales activities
- Analyze the market size and giving the forecast for current and future decorative paints during the forecast 2018–2023
- Analyze the competitive factors, competitors’ market shares, product capabilities, and supply chain structures
IndustryARC Research Best Practices
The Global Decorative Paints Market size is evaluated based on the number of products per organization type along with the varying price points pertaining to specific applications. These were identified as key informational conjectures for market estimation in 2017/2018.
The Global Decorative Paints Market share is thoroughly checked against all data points that have been incorporated and rechecked against various data sources. Various C-level executives and key opinion leaders are contacted for verification of the data.
The Global Decorative Paints Market forecast and growth rate are achieved by applying the time series forecasting methodology on the various factors. The market forecast and growth rate are further backed with historical trends of the market along with a regressive mathematical model that assesses the value based on factors such as capital expenditure, equipment lifespan, R&D investments, and so on.
The Global Decorative Paints Market demand has been researched taking into account the prominent economies across the different geographic regions to understand their corresponding impact on the market.
The Global Decorative Paints Market drivers are evaluated for short-term, medium-term, and long-term based on the different market dynamics impacting the market.
The Global Decorative Paints Market challenges are evaluated for short-term, medium-term, and long-term based on the different market dynamics impacting the market.
The Global Decorative Paints Market trends have been analyzed taking into consideration the micro and macro trends prevalent in various geographies.
The Global Decorative Paints Market outlook provides a brief overview of the market performance and anticipated change in market dynamics.
The Global Decorative Paints Market analysis also involves the identification of new companies that have entered the market scenario and their impact on the market dynamics in the future.