Decorative Coatings Market Worth $ 91.6 Billion in 2026
CHICAGO, October 8, 2021 / PRNewswire / – According to New Market Research Report “Decorative Coatings Market Type of resin (acrylic, alkyd), technology (water-based, solvent-based, powder), type of user (DIY, professional), type of coating (interior, exterior), application (residential, non residential) and region – Global forecast for 2026“, published by MarketsandMarkets ™, the size of the decorative coatings market is expected to reach $ 91.6 billion by 2026.The size of the decorative coatings market is expected to increase from $ 71.3 billion in 2021 to $ 91.6 billion in 2026, at a CAGR of 5.1%. Growing demand for decorative coatings from the construction industry to drive the market.
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Water-based technology is the fastest growing segment of the overall decorative coatings market.
The main type of technology used for decorative coatings is water-based technology, which accounted for 76.0% of the overall market, in terms of value, in 2020. The conventional solvent-based coatings market has lost its dominance. due to the increasing use of solvents. free coatings. . This trend is due to various rules and legislations. Greater emphasis is placed on a higher functionality coating for interior and exterior applications. For the exterior, aesthetic appearance and durability are maximized, as well as durability for asset protection through improvements in polymer design and properties such as resistance to dirt absorption, which is essential in countries with higher pollution levels in tropical climates. For the interior segment, the trend is towards water-based coatings where advanced polymer systems are formulated into low odor, low VOC coatings with low odor thresholds.
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APAC is the largest decorative coatings market during the forecast period.
APAC is the largest decorative coatings market with a market share of 37.2% estimated at $ 24.7 billion in 2020. It has grown faster than global and mature markets due to relatively higher growth of the economy, especially in China and India. China is the largest part of the APAC market, accounting for nearly 42.0% of the volume. Including the following two largest markets, India and Indonesia, the top three markets represent more than 82.0% of the volume of the APAC region.
The pace of economic growth in the APAC region is expected to stabilize in the medium term; the region should retain its leadership position in the years to come. To meet the shift in focus towards domestic demand, construction spending in this region is expected to increase in both residential and non-residential (commercial, industrial and infrastructure) sectors, thus driving the decorative coatings market. In addition, consumers in this region are more and more aware of recent trends and designs in interior decoration and improving their living standards, which leads to an increase in the consumption of decorative coatings.
The major players presented in the Decorative Coatings Market report are PPG Industries Inc. (US), AkzoNobel NV (Netherlands), The Sherwin-Williams Company (United States), BASF SE (Germany) and Asian Paints Limited (India).
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