The thriving construction industry and other major driving factors is expected to favor the rise in the global decorative paints market
Reports and Insights has published a new report titled, “Decorative Paints Market: Opportunity Analysis and Future Assessment 2022-2030”
Global Decorative Paints Market, By Product Type (Water based paints, Solvent based paints), By Formulation (Emulsion based paints, Distemper), By Paint Type (Interior Paints, Exterior Paints), By Sales Channel (Online, Offline), By Price (Premium, Medium, Economical), By End-Use (Residential, Non-residential) and By Region (North America, Europe, Asia Pacific, Latin America, Middle East, & Africa) is expected to grow at a significant CAGR for the period between 2022 and 2030.
Decorative paints can be perceived as acrylic paints that are generally used when it is required to give unique textures and aesthetic designs in various interior and exterior applications. One of the major factors that is primarily expected to drive the market growth of decorative paints is the improved standard of living of people along with the soaring fascination of consumers in the direction of enhancing the aesthetic appeal of their residential buildings and homes, which is clearly projected to boost the demand of decorative paints and coatings in the near future.
Moreover, the middle class is increasing all over the world, particularly in emerging markets. This has an immediate impact on the decorative paints market, which benefits from the growing middle class spending in better housing. Owing to which, the global decorative paints market is projected to witness significant growth over the following years. In addition to that, governments and the regulatory bodies are also aiming their focus on enhancing the infrastructure all across the globe, and thus the thriving construction industry is also estimated to accelerate the growth of the global decorative paints market over the forecast period.
Having said that, the regulatory policies are also likely to have a considerable impact on the decorative paints & coatings industry. The potential variations in regulations may further create huge uncertainty across the value chain. Such factors are expected to act as a restraining factor and may slow down the growth of the global decorative paints market in the following years.
Furthermore, several hazardous effects of lead in paints on the individuals coming in contact as well as on the environment has led numerous industries worldwide to divert their operations towards an environment-friendly replacement in the form of powder coatings. Said factors may pose challenges for the growth of the global decorative paints market in the coming years.
Reports and Insights Study identifies some of the key participating players in the decorative paints market globally are THE SHERWIN-WILLIAMS COMPANY, PPG INDUSTRIES INC., AKZONOBEL N.V., BASF SE, ASIAN PAINTS LIMITED, KANSAI PAINT CO., LTD., NIPPON PAINT HOLDINGS CO. LTD., Axalta, JOTUN A/S, HEMPEL A/S, DAW SE, DuluxGroup Limited, DIAMOND-VOGEL PAINT COMPANY, BENJAMIN MOORE & CO., BRILLUX GMBH & CO. KG, among others.
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