The decorative paints market is set to grow at a 4.3% CAGR from 2021 to 2031, driven by increased construction and preference for water-based paints.
According to a new report by Future Market Insights titled “Decorative Paints Market: Global Industry Analysis and Opportunity Assessment, 2016–2026”, the global decorative paints market is anticipated to reach a market valuation of US$ 42.9 Bn by 2016 end and register a CAGR of 5.3% during the forecast period 2016–2026. In the report, Future Market Insights analyses the global decorative paints market performance and throws light on the key drivers, restraints, and trends likely to impact the market during the assessed 10-year period.
According to analysts at Future Market Insights, changing consumer demands and a rapid development of commercial and residential buildings is expected to boost the growth of the global decorative paints market over the forecast period. A growing number of commercial buildings and rocketing construction of skyscrapers is further expected to push the demand for decorative paints in the coming years. Manufacturers are producing paints that can be used on multiple substrates such as cement walls, wood, glass, tiles, composites, etc. with robust physical and chemical properties, providing consumers the freedom to use paints as per their suitability. This is expected to boost the growth of the global decorative paints market over the forecast period. However, the threat of product substitution is expected to be a restraint to the global decorative paints market and use of nanotechnology based powder paints and coatings is expected to pose significant challenges to traditional decorative paints manufacturers globally.
“Introduction of intelligent paints for controlling temperature and heat transfer in varied geographical and climatic conditions around the world is emerging as a major trend in the global decorative paints market. Further, the need to decrease the hazardous impact of solvent based paints on the environment across the globe is pushing manufacturers and consumers to go for water based paints that emit lower Volatile Emission Control (VOC) as compared to solvent based paints.” — Analyst – Chemicals and Materials, Future Market Insights
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Key Segment
By Formulation
By Application
By Price
By Sales Channel
By Region
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Segmentation highlights
The global decorative paints market is segmented on the basis of product type into water based paints and solvent based paints; on the basis of formulations into emulsions and distemper; on the basis of price into premium range, medium range, and distemper range; on the basis of application into interior and exterior; and on the basis of sales channel into offline store and online store.
Regional market projections
The global decorative paints market is segmented into the seven key regions of
The APEJ region is expected to dominate the global decorative paints market in terms of revenue, registering a CAGR of 5.9% during the forecast period.
Vendor insights
The global decorative paints market report profiles some of the leading players operating in the market such as
Top market companies are investing heavily in new manufacturing facilities and are collaborating with big international players to increase sales and retain their strategic position in the global decorative paints market.
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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The article discusses the growth prospects of the decorative paints market from 2021 to 2031.
Increased construction of commercial and residential buildings is driving market growth.
The threat of product substitution and the rise of nanotechnology-based paints pose challenges.
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