TAGS: Architectural Coatings Sustainability / Natural Coatings
The Decorative Coatings market size is projected to reach USD 91.6 Billion by 2026.The market size for Decorative Coatings is projected to grow from USD 71.3 Billion in 2021 to USD 91.6 Billion in 2026, at a CAGR of 5.1%. Growing demand for Decorative Coatings from construction industry to drive the market.
WB Technology - Fastest-growing Segment
The main technology type used for decorative coatings is waterborne technology, which accounted for 76.0% of the overall market, in terms of value, in 2020. The market for conventional solvent-borne coatings has lost its dominance due to the growing use of solvent-free coatings.
This trend is due to various rules and legislation. Greater emphasis is given on higher functionality coating for both interiors as well as exterior applications.
For the exterior, aesthetic appearance and sustainability are maximized, along with durability for asset protection through polymer design improvements and properties such as dirt pickup resistance, which is critical in countries with higher levels of pollution in tropical climates.
For the interior segment, the trend is toward waterborne coatings where advanced polymer systems are formulated into a low odor, low-VOC coatings with low odor thresholds.
APAC - Largest Decorative Coatings Market
APAC is the largest decorative coatings market with a 37.2% market share valued at USD 24.7 billion in 2020. It has been growing faster than the global and matured markets on account of relatively higher growth in the economy, especially in China and India.
China is the largest part of the APAC market, comprising nearly 42.0% of the volume. Including the next two largest markets, India and Indonesia, the top three markets account for over 82.0% of the volume of the APAC region.
Source: MarketsandMarkets™
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