LONDON, May 15, 2017 /PRNewswire/ -- Highlights
• Booming construction industry is a key factor for the growth of the decorative paints and coatings market
• The global decorative paints and coatings market size (2016–2021) is estimated to reach 41,956.9 KT by 2021, at a CAGR of 5.8% from 2016 to 2021.
• The boom in construction industry is fueled by globalization, urbanization, rising standard of living, increasing purchasing power parity, infrastructure renewal and the rapidly increasing need of mega cities construction in emerging market.
• Water-based is expected to be the fastest-growing technology segment, in terms of volume & value of the decorative paints and coatings market
Booming construction industry is a key factor for the growth of the decorative paints and coatings market
The global decorative paints and coatings market size (20162021) is estimated to reach 41,956.9 KT by 2021, at a CAGR of 5.8% from 2016 to 2021. The growth of the market is attributed to increasing construction activities including residential, non-residential, commercial, and infrastructure construction across the globe.
The boom in construction industry is fueled by globalization, urbanization, rising standard of living, increasing purchasing power parity, infrastructure renewal and the rapidly increasing need of mega cities construction in emerging market. These increasing need for construction globally is driving the demand for decorative paints and coatings market.
Water-based technology is expected to be the fastest-growing technology segment of the sorbitol market
Water-based is expected to be the fastest-growing technology segment, in terms of volume & value of the decorative paints and coatings market. This growth is owing to the stringent regulations for the VOC content in the decorative paints and coatings. As water-based paints have lower VOC emission and are more environment friendly as compared to solvent based, therefore, the demand for water-based paints is higher and growing at a fast pace.
Asia-Pacific: The fastest-growing market for decorative paints and coatings
Asia-Pacific is expected to be the fastest-growing market for decorative paints and coatings market, in terms of value and volume. This is because of the growing urbanization and increase in the disposable income of middle class group, which leads to the development in the construction industry and its applications in China, India, Japan, Indonesia, South Korea and others is driving the Asia-Pacific decorative paints & coatings market. Also, the increasing residential projects and improvement of home remodeling/reconstruction activities are expected to drive the coating technologies market in the developing countries of Asia-Pacific.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews were conducted.
The breakdown of primary interviews is given below.
By Company Type - Tier 1 - 65%, Tier 2 25%, and Others - 10%
By Designation - Manager Level - 50%, C level - 30%, and Director level - 20%
By Region - Asia-Pacific - 40%, North America - 25%, Europe - 20%, the Middle East & Africa - 10%, and South America - 5%
The key companies profiled in this market research report are PPG Industries (U.S.), Akzonobel N.V. (Netherlands), Sherwin Williams (U.S.), Masco Corporation (U.S.), Nippon Paints (Japan), Jotun A/S (Norway), and Asian Paints (India) among others. These companies are consistently focusing on expanding their production capacity to achieve a competitive advantage and thereby serving the customers more effectively. Investments & expansions and mergers & acquisitions were the most preferred strategies of the top players from 2013-2017 that were driving the demand of decorative paints and coatings market.
This report covers the decorative paints and coatings market, in terms of value as well as volume, and forecasts the market size till 2021. The report includes the market segmentation based on resin type (acrylic, alkyd, polyurethane, and others), product type (emulsion, enamels, wood coatings, primers and others), technology (water-based and solvent-based), application (residential construction and non-residential construction), and region (Asia-Pacific, Europe, North America, the Middle East & Africa, and South America). The regions have been further segmented based on key countries into China, India, Australia & New Zealand, Japan, Indonesia, South Korea, the U.S., Canada, Mexico, Germany, the U.K., France, Russia, Italy, Spain, Poland, Turkey, Brazil, Argentina, Saudi Arabia, South Africa, Egypt, and UAE. The report also provides company profiles and competitive strategies adopted by the key players in the decorative paints and coatings market.
The report will help the market leaders/new entrants in this market in the following ways:
1. This report segments the decorative paints and coatings market comprehensively and provides the closest approximations of the revenue numbers for the overall market and the sub segments across the different verticals and regions.
2. It will help stakeholders to understand the pulse of the market and provide them information on key market drivers, challenges, and opportunities.
3. It will help stakeholders to understand the competitors and gain more insights to better their position in the business. The competitive landscape section includes new product developments, partnerships & joint ventures, investment & expansions, and mergers & acquisitions.
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