Global Decorative Paints Market- Market Overview:

The global decorative paints market is expected to grow from USD 57.8 billion in 2022 to USD 82.1 billion by 2030, at a CAGR of 4.5% during the Projection period 2023-2030. The growth of the decorative paints market is mainly driven by the increase in consumer demand from various end-users.

In addition to serving as protective coatings, paints and coatings can also be decorative. The majority of colors are employed to boost the surface's resistance to adverse environmental factors. They are divided into four categories: specialty coatings, powder coatings, solvent-borne coatings, and waterborne coatings. Some of the key end-use industries for paints and coatings are rail, construction, marine, autos, packaging, furniture, and aerospace. The goods used in the building & construction sector to enhance aesthetics are mostly related to the global decorative paints and coatings market. In addition to providing protection against UV rays, moisture, microorganisms, and temperature, these coatings also have the advantages of insulation, light absorption, reflection, and anti-skid qualities. 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 homes and residential structures. Consumer demand has changed to favor paints with very robust qualities and a contemporary taste in estheticism, driven by high disposable money. This shift in demand behavior is anticipated to fuel the expansion of the decorative paints market globally. Every three to five years, owners of commercial structures including office buildings, hotels, malls, and others voluntarily invest money in renovating their structures. In order to preserve the facilities' aesthetic appeal, this also includes spending on the exterior and wall paints.

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Market Dynamics:

Drivers:                          

• Rising Demand By Automotive Industry

The automotive industry's rising demand for paints and coatings is anticipated to drive market expansion. Demand for paints and coatings is growing due to the increased production of cars worldwide. Additionally, a number of manufacturers are launching paints to meet the escalating demand from the automotive sector. To make the parts of automobiles resistant to rust and corrosion, paint and coatings are applied. The expansion of the building and construction industries as a result of the government's increased investment is anticipated to fuel the market for paints and coatings. Global population growth, along with accelerated urbanisation and industrialization, is driving rising demand for construction and infrastructure.

Restraints:                                             

• Fluctuating Prices

The market expansion of paints & coatings is anticipated to be hampered by the fluctuating price of raw materials. Titanium dioxide and oil derivatives are two of the main basic ingredients used in the production of paints and coatings. The difference between the supply and demand for titanium dioxide has led to an increase in the price of paints and coatings as a whole. hence impeding market expansion.

Opportunities:

• Growing Demand

Market for paints and coatings is anticipated to benefit from growing demand for green coatings from the building and construction sector. For instance, PPG introduced a new line of professional- and consumer-grade bio-based wall paint in March 2017. The innovative Discovery bio-based technology from DSM is the foundation of the new paint. By eliminating up to 70% of the dangerous formaldehyde from the indoor air, the paint improves the indoor air quality of residences, workplaces, and educational institutions. It is anticipated that the increased use of polyurethane as a raw material for the production of paints and coatings would open up new market prospects because of its long-term resilience to corrosion and scratch. For instance, because to their endurance, water-based polyurethane formulations are becoming more and more common in the construction sector.

Challenges:

• Time Consuming Drying Procedure

The time-consuming drying procedure for waterborne technologies and the difficulties in creating a thin layer with powder coatings are projected to pose challenges for the expansion of the paints and coatings business.

Segmentation Analysis:

The global decorative paints market has been segmented based on product type, formulation and region.

By  Product Type

The product type segment is solvent-based paints and water-based paints. The water-based paints segment led the largest share of the decorative paints market with a market share of around 55% in 2022. Over the Projection period, the category expansion is anticipated to be supported by rising construction investment and customer demand for eco-friendly goods. In small, poorly ventilated rooms, water-based paints and varnishes are frequently utilized. Due to the quick evaporation of water from the coating layer, these coatings dry more quickly than those with a solvent base.

By Formulation

The formulation segment is distemper and emulsion based paints. The emulsion based paints segment led the largest share of the decorative paints market with a market share of around 56% in 2022. Emulsion paints are used to provide a variety of finishes, including gloss sheen, statin, silk, and flat matte on substrates. They are a stable suspension of oil phase in a liquid phase. Since these paints are typically water-based, the segment's share is anticipated to remain strong over the upcoming Projection period. Acrylic paints are anticipated to continue to be in great demand among distempers.

Global  Decorative Paints Market - Sales Analysis.

The sale of the  decorative paints market expanded at a CAGR of 3.9% from 2016 to 2022.

The development of the visual arts has led to a significant increase in the demand for decorative paints on a global scale. In essence, decorative paints are acrylic paints that artists employ to produce wall paintings and other artistic works. Since many campaigns to support art and artists have gained traction, the use of decorative paints has increased. Reputable institutions and investors are giving considerable sums of money to contemporary artists. The market for decorative paints is anticipated to grow quickly during the coming few years. Furthermore, the need for decorative paints has been fueled by artists' efforts to publicize their work and explain the significance of art.

Due to their application in homes, offices, and other venues, decorative paints are in more demand. Applying ornamental paint to walls and other surfaces can improve their aesthetic appeal. Additionally, there are more art galleries and studios now than ever before, mostly as a result of the contemporary art world experiencing a revival. The demand for decorative paints is anticipated to increase as a result. The usage of ornamental paints has expanded to include homes, apartment buildings, and tourist attractions. In the foreseeable future, it's expected that the market for decorative paints will continue to draw in new clients.

Thus, owing to the aforementioned factors, the global  decorative paints market is expected to grow at a CAGR of 4.5% during the Projection period from 2023 to 2030.

By Regional Analysis:

The regions analyzed for the  decorative paints market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. Asia Pacific region dominated the  decorative paints market and held a 38.4% share of the market revenue in 2022.

• The Asia Pacific region witnessed a major share. Over the course of the Projection period, the market is anticipated to be driven by increasing building activities and rising demand from the automobile industry in emerging nations like China, India, Japan, and Southeast Asia. Additionally, the market has had tremendous growth prospects due to the simple availability of raw materials and less strict restrictions regarding VOC emissions than those in North America and Europe. Numerous foreign investors have established their manufacturing facilities in the rising nations of Asia and the Pacific due to the region's low labour costs. As a result, the region's construction activities are increasing along with the number of manufacturing facilities, which is expected to drive up demand for paints and coatings over the coming years.
• Europe is anticipated to experience significant growth during the Projection period. Since the UK has been one of the major markets for paint and coatings, the paints and coatings industry is likely to be impacted given how dynamic the European market has been since Brexit. Demand for the product is anticipated to be driven by rising auto production in Hungary, Germany, Austria, Romania, and the UK, as well as by the robust manufacturing operations of businesses like Volkswagen AG, Daimler-Chrysler, Chevrolet, Dodge, and Mercedes-Benz. Over the course of the Projection period, it is anticipated that the growth of the construction industry in a number of nations, including the UK, the Netherlands, Germany, Hungary, Poland, Sweden, and Ireland, will drive product demand. increased money from the EU along with encouraging actions made by individual countries, such as subsidies, tax cuts, and incentives.

Global Decorative Paints Market - Country Analysis:

• Germany

Germany's decorative paints market size was valued at USD 5.37 billion in 2022 and is expected to reach USD 7.6 billion by 2030, at a CAGR of 4.6% from 2023 to 2030. With 42 engine manufacturing and assembly facilities, which together account for one-third of the region's total automobile output, Germany dominates the automotive market in Europe. With the economy's steady growth and rising new-car sales, which show consumer confidence, the paints and coatings industry is anticipated to benefit in the upcoming year. However, the implementation of the new WLTP emission control rule to promote vehicle quality by decreasing emissions to as low a level as feasible, which has generated various limits on new car registration, has resulted in a slight decline in new car sales.

• China

China’s  decorative paints market size was valued at USD 5.99 billion in 2022 and is expected to reach USD 8.7 billion by 2030, at a CAGR of 4.9% from 2023 to 2030. Sales of decorative paints are increasing as a result of the nation's rapid development in the building, construction, and infrastructure sectors. According to the survey, China's residential construction sector is predicted to experience strong demand for decorative paints.

• India

India's  decorative paints market size was valued at USD 4.4 billion in 2022 and is expected to reach USD 6.40 billion by 2030, at a CAGR of 4.8% from 2023 to 2030. The development of high-rise structures in major cities, together with urbanization, is significantly increasing demand for decorative paints in India. The market is expanding due to rising disposable income as well.

Key Industry Players Analysis:

To increase their market position in the global decorative paints market business, top companies focus on tactics such as adopting new technology, mergers & acquisitions, product developments, collaborations, partnerships, joint ventures, etc.   

• Azko Nobel N.V.
• PPG Industries, Inc.
• Sherwin – Williams Company
• Valspar Corporation
• NIPSEA GROUP (Nippon Paint)
• Jotun
• BASF-SE
• KANSAI Paints Co., Ltd.
• RPM International Inc.

Latest Development:

• In February 2022, The Sherwin-Williams Company and the state of North Carolina, Iredell County, and the city of Statesville reached an agreement to significantly increase the company's capacity for manufacturing architectural paint and coatings and set up a larger distribution facility in Statesville. Sherwin-Williams intends to contribute at least $300 million to the endeavour.
• In February 2022, A Milan, Italy-based industrial coating company called Powder Coating Manufacturing Business in Arsonsisi was acquired by PPG.

Report Metrics

Report Attribute	Details
Study Period	2022-2030
Base year	2022
CAGR (%)	4.5%
Market Size	57.8 billion in 2022
Projection period	2023-2030
Projection unit	Value (USD)
Segments covered	By Product Type, By Formulation, and By Region.
Report Scope	Revenue Projection, competitive landscape, company ranking, growth factors, and trends
Companies covered	Azko Nobel N.V., PPG Industries, Inc., Sherwin – Williams Company, Valspar Corporation, NIPSEA GROUP (Nippon Paint), Jotun, BASF-SE, KANSAI Paints Co., Ltd., and RPM International Inc.
By Product Type	Solvent-Based Paints Water-Based Paints
By Formulation	Distemper Emulsion Based Paints
Regional scope	North America Europe Asia-Pacific South America Middle East and Africa

Scope of the Report

Global Decorative Paints Market By Product Type:

• Solvent-Based Paints
• Water-Based Paints

Global Decorative Paints Market By Formulation:

• Distemper
• Emulsion Based Paints

Global Decorative Paints Market By Region:

• North America
  • USA
  • Canada
  • Mexico
• Europe
  • Germany
  • France
  • UK
  • Italy
  • Spain
  • Russia
• Asia-Pacific
  • Japan
  • China
  • India
  • Korea
  • Southeast Asia
• South America
  • Brazil
  • Peru
• Middle East and Africa
  • UAE
  • South Africa
  • Saudi Arabia

Political Factors- Decorative paints market should thoroughly analyse the taxation policies that are relevant to the business before deciding whether to expand. Industries that are high priorities for the government will benefit more from tax policy. Many developing nations' governments currently want to cut business taxes in an effort to draw in foreign direct investment. decorative paints market ought to take into account these nations since their low tax rates will make it simpler to turn a profit and spend in R&D, innovation, and new product development projects.

Economical Factors- Since rising inflation reduces the purchasing power of money and deters consumers from spending on goods and services, it may have a detrimental effect on decorative paints market's ability to raise its revenue. Exchange rate fluctuations can have an impact on a company's profitability. In order to accurately predict exchange rate variations and prevent unintended trade and business performance implications, decorative paints market should do this research. A high interest rate means that decorative paints market will have to make payments at a high rate of interest, increasing the overall cost of the loans received.

Social Factor- Consumption patterns and economic issues are closely related. decorative paints market benefits from exciting growth opportunities when consumers have more disposable income and are willing to spend more on goods and services to improve their lifestyles. This is because it is simpler to introduce new products and services to these customers, and revenue growth chances are also higher. decorative paints market must carefully examine the consumption/spending trends and tastes of modern consumers, who are increasingly demanding, in order to modify its marketing mix methods. decorative paints market must also comprehend whether hedonic or utilitarian incentives are behind the consumption. The degree of ethnocentrism is a significant consumer behaviour factor that can impact decorative paints market's performance.

Technological Factors- decorative paints market should favour nations with advanced technology infrastructure since these nations make it simpler for businesses to pursue goals like cost reduction, innovation, and value creation. A well-developed technological infrastructure also shows that it will be more difficult for decorative paints market to use technology to gain a sustained competitive advantage because it might be easily duplicated by rivals. decorative paints market can improve customer experience, generate operational economies, and establish itself as an innovative company by making the correct technical investments.

Environmental Factors- The development of renewable technology to lessen reliance on natural resources has become a strong trend in many industries. To capitalise on this environmental trend, decorative paints market should assess how well a nation's technology infrastructure supports the usage of renewable technologies. Governments in certain parts of the world provide enticing incentives for the use of renewable energy sources. decorative paints market may achieve its goals for sustainable business development by taking advantage of the opportunity and investing in renewable energy sources.

Legal Factors- A broad category of laws protecting employees' rights, including those to a fair salary, equality, equity, inclusion, fairness, and their physical and mental safety, is known as employment law. While some nations lack efficient enforcement of employment laws, others have harsh penalties for violating any of the specified rights of employees. decorative paints market should safeguard the safety of the working environment while entering or operating in such nations. There must be appropriate systems in place to prevent both direct and indirect discrimination. In the continuous competition for talent, effective compliance with employment rules can aid decorative paints market in enhancing its employer brand reputation, which is critical for luring and keeping top personnel in the market.

1. Introduction
   • 1. Objectives of the Study
   • 2. Market Definition
   • 3. Research Scope
2. Research Methodology and Assumptions
3. Executive Summary
4. Premium Insights
   • 1. Porter’s Five Forces Analysis
   • 2. Value Chain Analysis
   • 3. Top Investment Pockets
     • 3.1. Market Attractiveness Analysis By Product Type
     • 3.2. Market Attractiveness Analysis By Formulation
     • 3.3. Market Attractiveness Analysis By Region
   • 4. Industry Trends
5. Market Dynamics
   • 1. Market Evaluation
   • 2. Drivers
     • 2.1. Rising Demand By Automotive Industry
   • 3. Restraints
     • 3.1. Fluctuating Prices
   • 4. Opportunities
     • 4.1. Growing Demand
   • 5. Challenges
     • 5.1. Time Consuming Drying Procedure

6. Global Decorative Paints Market Analysis and Projection, By Product Type
   • 1. Segment Overview
   • 2. Solvent-Based Paints
   • 3. Water-Based Paints
7. Global Decorative Paints Market Analysis and Projection, By Formulation
   • 1. Segment Overview
   • 2. Distemper
   • 3. Emulsion Based Paints
8. Global Decorative Paints Market Analysis and Projection, By Regional Analysis
   • 1. Segment Overview
   • 2. North America
     • 2.1. U.S.
     • 2.2. Canada
     • 2.3. Mexico
   • 3. Europe
     • 3.1. Germany
     • 3.2. France
     • 3.3. U.K.
     • 3.4. Italy
     • 3.5. Spain
   • 4. Asia-Pacific
     • 4.1. Japan
     • 4.2. China
     • 4.3. India
   • 5. South America
     • 5.1. Brazil
   • 6. Middle East and Africa
     • 6.1. UAE
     • 6.2. South Africa

9. Global Decorative Paints Market-Competitive Landscape
   • 1. Overview
   • 2. Market Share of Key Players in the Decorative Paints Market
     • 2.1. Global Company Market Share
     • 2.2. North America Company Market Share
     • 2.3. Europe Company Market Share
     • 2.4. APAC Company Market Share
   • 3. Competitive Situations and Trends
     • 3.1. Technology Launches and Developments
     • 3.2. Partnerships, Collaborations, and Agreements
     • 3.3. Mergers & Acquisitions
     • 3.4. Expansions

10. Company Profiles
    • Azko Nobel N.V.
      • 1.1. Business Overview
      • 1.2. Company Snapshot
      • 1.3. Company Market Share Analysis
      • 1.4. Company Technology Portfolio
      • 1.5. Recent Developments
      • 1.6. SWOT Analysis
    • PPG Industries, Inc.
      • 2.1. Business Overview
      • 2.2. Company Snapshot
      • 2.3. Company Market Share Analysis
      • 2.4. Company Technology Portfolio
      • 2.5. Recent Developments
      • 2.6. SWOT Analysis
    • Sherwin – Williams Company
      • 3.1. Business Overview
      • 3.2. Company Snapshot
      • 3.3. Company Market Share Analysis
      • 3.4. Company Technology Portfolio
      • 3.5. Recent Developments
      • 3.6. SWOT Analysis
    • Valspar Corporation
      • 4.1. Business Overview
      • 4.2. Company Snapshot
      • 4.3. Company Market Share Analysis
      • 4.4. Company Technology Portfolio
      • 4.5. Recent Developments
      • 4.6. SWOT Analysis
    • NIPSEA GROUP (Nippon Paint)
      • 5.1. Business Overview
      • 5.2. Company Snapshot
      • 5.3. Company Market Share Analysis
      • 5.4. Company Technology Portfolio
      • 5.5. Recent Developments
      • 5.6. SWOT Analysis
    • Jotun
      • 6.1. Business Overview
      • 6.2. Company Snapshot
      • 6.3. Company Market Share Analysis
      • 6.4. Company Technology Portfolio
      • 6.5. Recent Developments
      • 6.6. SWOT Analysis
    • BASF-SE
      • 7.1. Business Overview
      • 7.2. Company Snapshot
      • 7.3. Company Market Share Analysis
      • 7.4. Company Technology Portfolio
      • 7.5. Recent Developments
      • 7.6. SWOT Analysis
    • KANSAI Paints Co., Ltd.
      • 8.1. Business Overview
      • 8.2. Company Snapshot
      • 8.3. Company Market Share Analysis
      • 8.4. Company Technology Portfolio
      • 8.5. Recent Developments
      • 8.6. SWOT Analysis
    • RPM International Inc.
      • 9.1. Business Overview
      • 9.2. Company Snapshot
      • 9.3. Company Market Share Analysis
      • 9.4. Company Technology Portfolio
      • 9.5. Recent Developments
      • 9.6. SWOT Analysis

List of Table

1. Global Decorative Paints Market, By Product Type, 2023–2030 (USD Billion)
2. Global Solvent-Based Paints, Decorative Paints Market, By Region, 2023–2030 (USD Billion)
3. Global Water-Based Paints, Decorative Paints Market, By Region, 2023–2030 (USD Billion)
4. Global Decorative Paints Market, By Formulation 2023–2030 (USD Billion)
5. Global Distemper, Decorative Paints Market, By Region, 2023–2030 (USD Billion)
6. Global Emulsion Based Paints, Decorative Paints Market, By Region, 2023–2030 (USD Billion)
7. Global Decorative Paints Market, By Region, 2023–2030 (USD Billion)
8. North America Decorative Paints Market, By Product Type, 2023–2030 (USD Billion)
9. North America Decorative Paints Market, By Formulation 2023–2030 (USD Billion)
10. USA Decorative Paints Market, By Product Type, 2023–2030 (USD Billion)
11. USA Decorative Paints Market, By Formulation 2023–2030 (USD Billion)
12. Canada Decorative Paints Market, By Product Type, 2023–2030 (USD Billion)
13. Canada Decorative Paints Market, By Formulation 2023–2030 (USD Billion)
14. Mexico Decorative Paints Market, By Product Type, 2023–2030 (USD Billion)
15. Mexico Decorative Paints Market, By Formulation 2023–2030 (USD Billion)
16. Europe Decorative Paints Market, By Product Type, 2023–2030 (USD Billion)
17. Europe Decorative Paints Market, By Formulation 2023–2030 (USD Billion)
18. Germany Decorative Paints Market, By Product Type, 2023–2030 (USD Billion)
19. Germany Decorative Paints Market, By Formulation 2023–2030 (USD Billion)
20. France Decorative Paints Market, By Product Type, 2023–2030 (USD Billion)
21. France Decorative Paints Market, By Formulation 2023–2030 (USD Billion)
22. UK Decorative Paints Market, By Product Type, 2023–2030 (USD Billion)
23. UK Decorative Paints Market, By Formulation 2023–2030 (USD Billion)
24. Italy Decorative Paints Market, By Product Type, 2023–2030 (USD Billion)
25. Italy Decorative Paints Market, By Formulation 2023–2030 (USD Billion)
26. Spain Decorative Paints Market, By Product Type, 2023–2030 (USD Billion)
27. Spain Decorative Paints Market, By Formulation 2023–2030 (USD Billion)
28. Asia Pacific Decorative Paints Market, By Product Type, 2023–2030 (USD Billion)
29. Asia Pacific Decorative Paints Market, By Formulation 2023–2030 (USD Billion)
30. Japan Decorative Paints Market, By Product Type, 2023–2030 (USD Billion)
31. Japan Decorative Paints Market, By Formulation 2023–2030 (USD Billion)
32. China Decorative Paints Market, By Product Type, 2023–2030 (USD Billion)
33. China Decorative Paints Market, By Formulation 2023–2030 (USD Billion)
34. India Decorative Paints Market, By Product Type, 2023–2030 (USD Billion)
35. India Decorative Paints Market, By Formulation 2023–2030 (USD Billion)
36. South America Decorative Paints Market, By Product Type, 2023–2030 (USD Billion)
37. South America Decorative Paints Market, By Formulation 2023–2030 (USD Billion)
38. Brazil Decorative Paints Market, By Product Type, 2023–2030 (USD Billion)
39. Brazil Decorative Paints Market, By Formulation 2023–2030 (USD Billion)
40. Middle East and Africa Decorative Paints Market, By Product Type, 2023–2030 (USD Billion)
41. Middle East and Africa Decorative Paints Market, By Formulation 2023–2030 (USD Billion)
42. UAE Decorative Paints Market, By Product Type, 2023–2030 (USD Billion)
43. UAE Decorative Paints Market, By Formulation 2023–2030 (USD Billion)
44. South Africa Decorative Paints Market, By Product Type, 2023–2030 (USD Billion)
45. South Africa Decorative Paints Market, By Formulation 2023–2030 (USD Billion)

List of Figures 

1. Global Decorative Paints Market Segmentation
2. Decorative Paints Market: Research Methodology
3. Market Size Estimation Methodology: Bottom-Up Approach
4. Market Size Estimation Methodology: Top-Down Approach
5. Data Triangulation
6. Porter’s Five Forces Analysis
7. Value Chain Analysis
8. Global Decorative Paints Market Attractiveness Analysis By Product Type
9. Global Decorative Paints Market Attractiveness Analysis By Formulation
10. Global Decorative Paints Market Attractiveness Analysis By Region
11. Global Decorative Paints Market: Dynamics
12. Global Decorative Paints Market Share By Product Type (2023 & 2030)
13. Global Decorative Paints Market Share By Formulation (2023 & 2030)
14. Global Decorative Paints Market Share by Regions (2023 & 2030)
15. Global Decorative Paints Market Share by Company (2021)