Decorative paints And coatings Market is expected to grow at 3.5% by 2031. Global decorative paints and coatings market comprises of full range of exterior and interior decoration and protection products. On the back of steady recovery of global economy and rapid industrialization; paints and coatings market has been growing steadily since the last decade. End users are increasingly concerned to make their homes safer with health & wellness of the family and friends. In recent years, decorative paints and coatings manufacturers are attempting to tap health issues concern of end users, like Dulux Forest Breath seeks to tap air quality concerns in China. Products with anti-bacterial, fungicidal qualities that absorb pollutants are gaining popularity in developed regions such as the United States and Western European countries. New advertising technologies are playing an significant role in the marketing of decorative paints, as paint manufacturers seek to provide end users with information about their brands, products advantages and decorating advices.
In recent years, especially in emerging nations of the world; the global decorative paints and coatings market has been witnessing enormous growth. Emergence of infrastructure projects in emerging Asian countries is driving the growth of this segment. Rising demand in urban area, increased purchasing power and changing consumer preferences are some of the driving forces of this industry. However, there are many factors posing challenge to industry’s growth such as environmental impact, mounting raw material prices, threat of product substitution and government regulations. In developing countries, price remains the important factor in the purchase decision making of the majority of end customers.
Segments
Key players operating in global decorative paints and coatings market include but are not limited to:
