APAC to Dominate Decorative Coatings Market through 2025
by TechSci Research Market Research ReportsDemand
from various end user industries for different applications to drive the growth
of global decorative coatings market
According
to TechSci Research report, “Global Decorative
Coatings Market By Resin Type (Acrylic Resin, Alkyd Resin, Vinyl Resin,
Polyurethane Resin, Others), By Technology (Waterborne Coatings, Solvent borne
Coatings, Powder Coatings), By Coating Type (Interior, Exterior, Others), By
User Type (Diy, Professional), By Product Type (Emulsions, Wood Coatings,
Enamels and Others), By Application (Residential Vs Non-Residential), By
Region, Competition, Forecast & Opportunities, 2025”, global
decorative coatings market is expected to grow at a steady CAGR until 2025. Surging requirement for eco- friendly
coatings across the globe is one of the major factors accounting for the growth
of global decorative coatings market. Moreover, growing construction activities
coupled with rising investments in infrastructure developments across the globe
is further expected to bode well for the growth of global decorative coatings
through 2025. In addition to this, increased focus on research and development
activities globally, is positively influencing the growth of global decorative coatings
market. Also, stringent environmental regulations by the governing bodies
regarding environmental protection coupled with booming economic growth in
emerging economies is anticipated to fuel the growth of global decorative coatings
market during the next five years. Furthermore, these coatings help in protection
of walls from external harsh environments extremes like temperature, UV
radiations, moisture, among others is making them a popular choice.
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Global
decorative coatings market can be segmented based on resin type, technology,
coating type, user type, product type, application, company and region.
Considering the resin type, the market is fragmented into acrylic resin, alkyd
resin, vinyl resin, polyurethane resin and others. The acrylic segment dominated
the global decorative coatings market in terms of largest revenue until 2019
and is further anticipated to hold its dominance during the forecast years as
these acrylic decorative coatings are widely used owing to their characteristics
such as weathering and oxidation resistance. Additionally, acrylics resin type
coatings hold color better and provide gloss retention, thereby positively
influencing the growth of the segment across the globe. More than that, properties
such as high durability on exposure to wind, rain, UV light, snow is further
boosting the growth of segment.
PPG
Industries, Inc., Akzo Nobel N.V., The Sherwin-Williams Company, Kansai Paints
Co., Ltd., Asian Paints Limited, Nippon Paint Holdings Co., Ltd., BASF SE,
Masco Corporation, Jotun Group, RPM International Inc. are among others are the
leading players operating in global decorative coatings market. The players are
adopting several growth strategies to enhance the market scenario of decorative
coatings. Other competitive strategies include mergers & acquisitions to
diversify their product portfolio in order to strengthen their market position.
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“Asia-Pacific is forecast to dominate the global decorative coatings
market during the course of next five years on the account of rising population
and economic growth in the region. Moreover, residential and non-residential
sectors in economies such as China, India, Vietnam and Bangladesh are expected
to develop, which is anticipated to contribute to the growing trend. Furthermore,
expanding automobile sector in these regions is further expected to boost the
growth of global decorative coatings market through 2025.”, said Mr. Karan
Chechi, Research Director with TechSci Research, a research based global
management consulting firm.
“Global
Decorative Coatings Market By Global Decorative Coatings Market By Resin Type
(Acrylic Resin, Alkyd Resin, Vinyl Resin, Polyurethane Resin, Others), By
Technology (Waterborne Coatings, Solvent borne Coatings, Powder Coatings), By
Coating Type (Interior, Exterior, Others), By User Type (Diy, Professional), By
Product Type (Emulsions, Wood Coatings, Enamels and Others), By Application
(Residential Vs Non-Residential), By Region, Competition, Forecast &
Opportunities, 2025” has
evaluated the future growth potential of global decorative coatings market and
provides statistics & information on market size, structure and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges and opportunities in global decorative coatings market.
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Created on Aug 6th 2020 10:24. Viewed 276 times.