Decorative Paints Market Overview
According to a research survey conducted by ChemView Consulting, the current valuation of the Global Decorative Paints Market is worth US$ 47,652.7 Mn in 2022. The market value of Decorative Paints is expected to reach US$ 74,714.4 Mn by the year 2032, growing at a CAGR of 4.6% over the forecast period. From 2017–2021, when the market’s CAGR was 3.4%, the market underwent significant growth.
The Decorative Paints Market is rapidly expanding due to the Rising demand for interior decorations, and increasing renovating activities in residential & commercial houses to improve the aesthetic appeal are spurring the sales of interior paints. This rise in demand has increased household spending on decorating and home improvement.
ChemView Consulting has analyzed that decorative paints seeks significant demand from the commercial industry, positively influencing the market growth. Increasing commercial activity in regions such as the Middle East, Asia Pacific, and Latin America has risen dramatically in Decorative Paints demand.
The main factor contributing to the increase in commercial industry as paints play an important role in commercial spaces such as hotels, restaurants, and shopping malls. They are often used to enhance the look and feel of interiors as well as exteriors of these premises. In addition, demand for synthetic paints is anticipated due to several factors, such as the growing construction sector, expansion of the painting industry across India and China, and even other countries.
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Segments Covered in Report
By Product Type:
- Water-based paints
- Solvent-based paints
By Formulation:
- Emulsion-based paints
- Distemper
By Application:
- Interior Paints
- Exterior Paints
By Sales Channel:
- Online
- Offline
By Price
- Premium
- Medium
- Economical
By Region and Country:
- North America (U.S., Canada)
- Latin America (Brazil, Mexico, Rest of Latin America)
- Europe (Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, Rest of Europe)
- Asia-Pacific (China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Rest of Asia-Pacific)
- Middle East (Saudi Arabia, Turkey, UAE, Rest of Middle East)
- Africa (South Africa, Nigeria, Egypt, Rest of Africa)
Key Takeaways from the Decorative Paints Market
- Based on the product type, the Water-based paints segment accounts for 50.0% of the global Decorative Paints l consumption market share. The need for water-based paints is anticipated to increase in the upcoming years as residential and commercial building development picks up the pace throughout the world.
- Based on the application, the interior segment will dominate at a significant CAGR from 2022 to 2032. This segment anticipated sale growth of 4.2% in 2021. The need for interior decorative paints is raising as more homes, businesses, shopping malls, offices, hotels, and restaurants are being built. The demand for decorative paints in the interior market is also being boosted by the expanding trend of interior design and restoration worldwide.
- North America is projected to dominate the Decorative Paints Market with a market share of 23.4% during the forecast period due to high consumption from the region’s stringent end-use industries and enormous Decorative Paints production rate.
Competition Summary
Key companies covered in the market study are Akzoko Nobel N.V., Sherwin – Williams Company, PPG Industries, Inc., Asian Paints Limited, NIPSEA GROUP (Nippon Paint), Valspar Corporation, Jotun, BASF-SE, Berger Paints India Limited, RPM International Inc., KANSAI Paints Co., Ltd.
Report Key Highlights and Coverage
- Our comprehensive, data-backed, and facts-oriented report provides niche and cross-sectional analysis at global and country levels.
- Assessment of the historical (actual data) and current market size (2017-2021), market projections (2022-2032), and CAGR.
- The market assessment across North America, Europe, East Asia, South Asia & Pacific, Latin America, Middle East, and Africa.
- Competitive tactical intelligence, key strategies adopted by top players, production capacity and company shares analysis, product brand surveys, and export-import analysis
- Pricing analysis to set and benchmark your current or future offerings across each product type helps you understand whether your pricing strategy is aligned with market expectations and can be compared to market disruptions.
- Predictions on critical supply and demand trends and technological expertise needed to address operations scalability.
- Consumer behavior shifts and their implications for players, list of end-users, and their consumption analysis.
- Key drivers, restraints, opportunities, and emerging trends impacting the market growth.
- Value chain analysis (list of manufacturers, distributors, end-users, and average profitability margins).
- Strategic market analysis, recommendations, and future headways on crucial winning strategies.
