Decorative Paints Market Report

Demand for decorative paint to decorate the interior and exterior of residential and commercial buildings is expected to increase in the coming years, and this demand is likely to be fuelled in part by the expanding construction sector. Another factor expected to propel market expansion in the next years is an increase in demand for decorative paints as a result of increased consumer awareness of their eco-friendliness, durability, and other aesthetic appeal. It is well known that decorative paint and coatings are made primarily for the protection of buildings. They have the potential to shield structures from UV rays, dampness, and microbes. Additionally, the expansion of the automotive sector will likely present additional chances for the decorative paint and coatings market to expand during the next several years. One of the most important product innovations in the paints industry has been the introduction of low-VOC paints. Demand for VOC paints in the decorative paints industry will increase as sustainability becomes a more important concern.

The market for decorative paint is increasing in India due to urbanization and the significant increase in high-rise building development in major cities. The market is expanding due to rising disposable income as well. The market for decorative paints is rising as a result of rapid urbanization, a rising standard of living, and a growing interest among consumers in enhancing the visual appeal of their houses and residential structures. Due of their high level of disposable income, customers now want paints that blend modern aestheticism with very resilient characteristics. This shift in demand behavior is anticipated to fuel the expansion of the decorative paints market globally. Commercial building owners willingly spend money renovating their structures every three to five years, including office buildings, hotels, malls, and others.

In order to preserve the buildings' aesthetic appeal, this also includes expenditure on exterior and wall paints. The demand for wall paints and exterior paints is expected to increase in the future years as a result of an increase in the number of commercial buildings and the rapid construction of affordable housing projects. Nearly 75% of the architecture that will exist in 2050 has not yet been completed, according to research by The International Financial Corporation (IFC), a member of the World Bank Group. The required yearly investment to achieve the goal is estimated to be around US$3.3 Tn.

• Sustainable paint options gaining traction for eco-conscious consumers.
• Customized paint colors offer personalized design solutions.
• Increased demand for antimicrobial paints for hygienic environments.
• Growth of DIY paint kits for creative home projects.

The market segment based on water had a significant market share. Most consumers choose these paints due to qualities like lower VOC emissions. The requirements for VOC emissions set by the US and the EU are met by water-borne decorative coatings. Water-borne coatings are less flammable due to their high water content, which also contributes to their low toxicity and reduces the requirement to dispose of hazardous waste. The demand for water-based decorative paint is increasing as the cost of water for construction and restoration projects increases. The most commonly used raw ingredients in the manufacture of water-based water decorative paints are pigments, surfactants, synthetic resins, and additives. In comparison to oil-based paints, water-based decorative paint dries comparatively rapidly, is simple to clean up, and has a softer smell.

Due to the sudden closing of national and international boundaries, the COVID-19 crisis has altered operational efficiency and interrupted value chains, resulting in revenue loss and destruction. Additionally, as decorative paints are mostly used in construction applications, the pandemic's stoppage of such operations has reduced demand for decorative paints. The stoppage of construction activities across a number of nations and restrictions on the supply of raw materials as a result of disrupted value chains are also impeding market expansion. However, one of the factors that may stymie demand for decorative paints and limit the expansion of the target market over the projection period is strict government restrictions relating to environmental concerns and high raw material costs.

Valspar® released a new line of exterior paint and primer named Valspar® DefenseTM on March 2, 2022. This revolutionary innovation repels water year-round and helps prevent moisture damage by utilizing superior water-beading technology.

In November 2022 Oskar Nolte GmbH and Klumpp Coatings GmbH, both German wood coatings companies, were acquired by Sherwin-Williams. 

In 2022-Nippon Paint Jinshan is being developed with the goal of being a carbon-neutral industrial green park. Nippon Paint (Shanghai) Company Limited's Regenerative Thermal Oxidiser (RTO) project successfully treated volatile organic compounds (VOC), fulfilling China's regulatory criteria and regularly achieving low emission levels. This demonstrates our commitment to actively assist China's green revolution. 

PPG Industries, Inc., Sherwin–Williams Company, Valspar Corporation, Jotun, BASF-SE, Berger Paints India Limited, Asian Paints Limited, NIPSEA GROUP (Nippon Paint), Akzo Nobel N.V., RPM International Inc., KANSAI Paints Co., Ltd. are some of the prominent market players operating in the global decorative paints market. 

The Asia Pacific market is expected to lead the global decorative paints industry and is likely to contribute a sizeable portion of revenue. This dominance may be due to nations like China and India's fast urbanization, rising spending capacity, increasing construction activities, and government initiatives and programs for different infrastructure. In the upcoming years, it is expected that the Asia Pacific market will expand quickly. The target market is expected to have the most revenue growth in the decorative paints market in North America, then Europe. This is a result of the area's rapid industrialization and the presence of main players. Sales of decorative paints are increasing as a result of the nation's rapid expansion in the building, construction, and infrastructure sectors. According to the survey, China's residential building sector is predicted to see strong demand for decorative paints.

The report provides a detailed overview of the decorative paints market insights in regions including North America, Latin America, Europe, Asia-Pacific, Oceania, and the Middle East and Africa. The country-specific assessment for decorative paints market has been offered for all regional market share, along with forecasts, market scope estimates, price point assessment, and impact analysis of prominent countries and regions. Throughout this market research report, Y-o-Y growth and CAGR estimates are also incorporated for every country and region, to provide a detailed view of the decorative paints market. These Y-o-Y projections on regional and country-level markets brighten the political, economic and business environment outlook, which are anticipated to have a substantial impact on the growth of the decorative paints market. Some key country and region included in the decorative paints market report as follows:

• Decorative paints market detailed segments and segment-wise market breakdown
• Decorative paints market dynamics (Recent industry trends, drivers, restraints, growth potential, opportunities in decorative paints industry)
• Current, historical, and forthcoming 10 years market valuation in terms of decorative paints market size (US$ Mn), volume (Tons), share (%), Y-o-Y growth rate, CAGR (%) analysis
• Decorative paints market demand analysis
• Decorative paints market pricing analysis over the forecast period (by key segment and by region)
• Decorative paints market regional insights with a region-wise market breakdown
• Competitive analysis – key companies profiling including their market share, product offerings, and competitive strategies.
• Latest developments and innovations in the decorative paints market
• Regulatory landscape by key regions and key countries
• Supply chain and value chain analysis in the decorative paints market
• Decorative paints market sales and distribution strategies
• A comprehensive overview of the parent market
• A detailed viewpoint on the decorative paints market forecast by countries
• Mergers and acquisitions in the decorative paints market
• Essential information to enhance market position
• Robust research methodology