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Decorative Coatings Market Trends

Report ID: GMI6275
Published Date: Jul 2023
Report Format: PDF

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Decorative Coatings Market Trends

There was an increasing preference for eco-friendly decorative coatings that have lower VOC (volatile organic compound) content and reduced environmental impact. Consumers and businesses alike showed a heightened interest in sustainable and green building practices. Decorative coatings with low emissions and minimal health risks became more popular, as consumers sought products that improve indoor air quality and contribute to healthier living environments. Customization options and unique finishes gained popularity, allowing consumers to express their individuality in their living spaces. Thus, the growing prevalence and usages is expected to expedite the decorative coatings industry growth.

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

Global market for decorative coatings was valued at around USD 80.21 billion in 2023 and is estimated to reach USD 117.1 billion by the end of 2032, backed by the growth of the construction and infrastructure sector.

Interior coating segment is anticipated to grow at 3.2% CAGR through 2032. Decorative coatings play a significant role in enhancing the aesthetic appeal of buildings and interiors, driving demand from homeowners and architects.

U.S. market for decorative coatings accounted for a revenue of USD 15.5 billion in 2022 and is anticipated to expand at a significant pace from 2023-2032, owing to surge in residential and commercial construction projects, as well as home renovation and remodeling activities.

PPG Industries, Inc., Sherwin-Williams Company, Akzo Nobel N.V., Nippon Paint Holdings Co., Ltd., Axalta Coating Systems Ltd., BASF SE, Kansai Paint Co., Ltd., RPM International Inc., Asian Paints Limited, Hempel A/S, Jotun Group, Benjamin Moore & Co., among others.