Decorative Coatings Market To Reach $116.40 Billion By 2030

Decorative Coatings Market Growth & Trends

The global decorative coatings market size is anticipated to reach USD 116.40 billion by 2030, according to a new report by Grand View Research, Inc. The market is projected to grow at a CAGR of 4.8% from 2024 to 2030. Rising construction spending in light of urbanization, population growth and government infrastructural plan will augment industry growth. Emerging economies in Southeast Asia including Malaysia, Thailand and Singapore are projected to witness a surge owing to increasing commercial establishments including shopping malls and business parks. 

Waterborne coatings accounted for over 70% of global revenue and are expected to gain share over solventborne owing to its non-requirement of additives, hardeners or thinners resulting in cost advantage. In addition, the U.S. EPA and REACH promotes use of waterborne technology which is expected to stimulate market expansion over the next seven years. 

Ongoing product development by various companies to manufacture cost-efficient and high performance coatings is further expected to drive demand over the next seven years. However, fluctuating raw material prices along with adverse environment impact of solventborne coatings is expected to restrict market growth over the next seven years. Introduction of nanocoatings along with green coatings is expected to open new opportunities for growth over the forecast period. 

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Decorative Coatings Market Report Highlights

• The emulsion dominated the market and accounted for a revenue share of 41.3% in 2023. The factor driving the dominance of emulsion paints is its environmentally friendly characteristics

• The water-borne coatings dominated the market and accounted for the largest revenue share in 2023 due to increasing government regulations and growing consumer awareness regarding sustainability & eco-friendliness

• The residential segment dominated the market and accounted for the largest revenue share in 2023 due to increasing consumer awareness regarding home aesthetics

• The Asia Pacific decorative coatings market dominated the market with the largest revenue share of 38.7% in 2023

Decorative Coatings Market Segmentation

Grand View Research has segmented the global decorative coatings market on the basis of product, technology, application, and region:

Product Outlook (Volume, Kilo Tons; Revenue, USD Million, 2018 - 2030)

• Primer

• Enamel

• Emulsion

• Others

Technology Outlook (Volume, Kilo Tons; Revenue, USD Million, 2018 - 2030)

• Water-borne Coatings

• Solvent-borne Coatings

• Powder Coatings

Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2018 - 2030)

• Residential

• Commercial

• Industrial

• Infrastructure

Regional Outlook (Volume, Kilo Tons; Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • UK

  • France

  • Italy

  • Spain

• Asia Pacific

  • China

  • India

  • Japan

  • South Korea

• Latin America

  • Brazil

  • Argentina

• Middle East and Africa (MEA)

  • Saudi Arabia

  • UAE

  • Oman

  • Kuwait

  • Qatar

List Of Key Players in the Decorative Coatings Market

• The Sherwin-Williams Company

• PPG Industries

• Akzo Nobel N.V.

• BASF SE

• Jotun

• Asian Paints

• Kansai Paint Co., Ltd.

• RPM International

• Masco Corporation

• Axalta Coating Systems Ltd.

• Nippon Paint (India) Private Limited