Strategic Insights: Decorative Coatings Market and Emerging Market Trends

(IT-NEWSWIRE.COM, June 25, 2024 ) The report "Decorative Coatings Market by Resin Type (Acrylic, Alkyd, vinyl, Polyurethane), Technology, Coating Type (Interior and Exterior), Color Type, User Type (DIY and Professional), Product Type, Application), and Region - Global Forecast to 2027" The global decorative coatings market was valued at USD 82.0 billion in 2022 and is projected to reach USD 98.9 billion by 2027, growing at 3.8% during the forecast period.

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370 - Market Data Tables

64 - Figures

337 - Pages

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The powder coatings segment is expected to register the highest CAGR during the forecast period.
The powder coating technology uses dry resin powders for coating substrates with thermoplastic or thermoset films. The coating is formed after a layer of powder is applied with a powder spray gun or fluidized bed tank to the substrate and heated, thereby melting the powder. A key driver of the powder coatings segment is increasingly stringent environmental regulations on VOC emission.

The powder-based technology uses dry resin powders for coating substrates with thermoplastic or thermoset films. The coating is formed after a layer of powder is applied with a powder spray gun or fluidized bed tank to the substrate and then heated, thereby melting the powder. A key driving force in the growth of the powder-based segment is increasingly stringent environmental regulations for zero or non-VOC coatings. Powder-based technology is eco-friendly and expected to witness rapid growth due to its unique features, such as high corrosion resistance, chipping, high-quality finish, and abrasion. It also offers protection from moisture, heat, and chemicals. These power coatings emit only a small number of VOCs.

The polyurethane segment is expected to be the fastest-growing segment, by resin type, in the decorative coatings market during the forecast period.
Polyurethane resins are made from reacting polyalcohol and organic di-isocyanate. Polyurethane resin paints possess properties such as high durability, toughness, and high gloss and are easy to clean. Owing to these properties, polyurethane resin paints are used in various applications worldwide. Polyurethane resin is a polymer material that is often used in decorative coatings. This resin can provide a variety of benefits, including durability, abrasion resistance, and scratch resistance. It can also provide UV protection, which can help to protect the surface from fading. Because of these benefits, polyurethane resin is often used in both exterior and interior coatings. Popular uses for polyurethane resin in decorative coatings include deck flooring, window frames, and wall panels. Polyurethane resin can also be used in a variety of colorants to create a variety of colors and textures.

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Asia Pacific is a fast expanding market with several potential for industry participants. The majority of the major companies in North America and Europe intend to relocate their manufacturing bases to this area because to the availability of low-cost raw materials, cheap production costs, and the desire to better service local customers. The region's desire for luxury items is expanding as the middle-class population grows. Government measures are also assisting the building and construction industry's expansion. These factors are projected to have a significant impact on the decorative coatings industry.

Decorative Coatings Market Key Players
The Sherwin-Williams Company (US), PPG Industries, Inc (US), AkzoNobel N.V. (The Netherlands), BASF Coating GMBH (Germany), Jotun A/s (Norway), Asian Paints Limited (India), Kansai Paint Co., Ltd (Japan), Nippon Paint Holding Co., Ltd (Japan), RPM International, Inc (US), Masco Corporation (US) are the key players operating in the global market.

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Strategic Insights: Decorative Coatings Market and Emerging Market Trends