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Decorative Coatings Global Market Report 2022
Major players in the decorative coatings market are PPG Industries Inc. , Akzonobel, Sherwin-Williams, Valspar, Asian Paints Ltd. , Berger Paints Ltd. , Cabot Corporation, DAW SE, Jotun, Masco, Brillux GmbH & Co.
New York, July 15, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Decorative Coatings Global Market Report 2022" - https://www.reportlinker.com/p06284325/?utm_source=GNW
KG, BASF SE, Diamond Vogel, Kansai Paint Co. Ltd., Kelly-Moore Paints, and RPM International Inc.
The global decorative coatings market is expected to grow from $75.04 billion in 2021 to $81.82 billion in 2022 at a compound annual growth rate (CAGR) of 9.0%. The decorative coatings market is expected to reach $101.87 billion in 2026 at a CAGR of 5.6%.
The decorative coatings market consists of sales of decorative coatings by entities (organizations, sole traders, and partnerships) that are applied to buildings and structures for protection, durability, and decoration purpose. Decorative coatings also known as architectural coatings consist of paints and coatings used to coat buildings and homes that are designed for a specific use such as to protect against the wear and tear of a building’s walls.
The main types of products in decorative coatings are emulsion, wood coatings, enamels, and others.The emulsion consists of small polymer particles in which the pigments are trapped.
These are suspended in water and then fuse after drying paint creating a film of paint.The emulsion is a water-based coating.
The different resin types include acrylic, alkyd, vinyl, polyurethane, others and involve various formulations such as water-based, solvent-based, and powder-based. It is used in several applications including residential, and non-residential.
Asia Pacific was the largest region in the decorative coatings market in 2021.North America is expected to be the fastest growing region in the forecast period.
The regions covered in the decorative coatings market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The rising urbanization all over the globe is expected to drive the growth of the decorative coatings market going forward.Urbanization refers to the population movement from rural to an urban setting and increasing human population densities in urban areas.
The need for residential and non-residential structures is expanding as a result of urbanization, which will propel the decorative coatings industry forward. For instance, according to the United Nations Department of Economic and Social Affairs, 68% of the world’s population is 2.5 billion people are projected to live in urban areas by 2050. Therefore, rising urbanization all over the globe is driving the growth of the decorative coatings market.
New product innovations have emerged as a key trend gaining popularity in the decorative coatings market.Major companies operating in the sector of decorative coatings are focused on developing advanced products to strengthen their position.
For instance, in May 2019, Ashland, a US-based chemicals company launched Aquaflow NMS-460E rheology modifier, a new non-ionic synthetic associative thickener for use in decorative coatings. It is a solvent-free and APEO-free nonionic synthetic associative thickener (NSAT) designed to provide a mid-high shear viscosity response for exceptional brush and roll application to build balanced rheology where two thickeners are required.
In June 2021, PPG Industries Inc., US-based coatings, and specialty materials company acquired Tikkurila for an undisclosed amount. With this acquisition, PPG Industries Inc intends to use Tikkurila’s regional network and a strong portfolio of decorative brands to provide clients with access to new technologies and resources. Tikkurila is a Finland-based chemical manufacturing company that manufactures decorative paints and coatings.
The countries covered in the decorative coatings market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Read the full report: https://www.reportlinker.com/p06284325/?utm_source=GNW
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