The Decorative Coatings market is projected to grow from USD 71.3 Billion in 2021 to USD 91.6 Billion by 2026, at a CAGR of 5.1% between 2021 and 2026. APAC is estimated to be the largest consumer of Decorative Coatings. The global Decorative Coatings market is driven by increasing need for environmentally-friendly coating systems with durability and better performance aesthetics.
APAC accounted for largest market share in terms of value, of the global decorative coatings market in 2020. The growing population and economic growth drive the APAC market. Both the residential and non-residential sectors in China and India are expected to develop during the forecast period, which, in turn, is likely to drive the demand for decorative coatings in this region. China has been the driving force behind the rapid expansion of the decorative coatings market in the APAC region and across the globe. Over the five years through 2020, revenue for the building construction industry has grown at an annualized rate of 4.8%, to USD 2.5 trillion. Factors such as huge and increasing addressable population base and rapidly growing construction activities are driving the decorative coatings market in the APAC region.
PPG Industries Inc. (US), AkzoNobel N.V. (Netherlands), The Sherwin-Williams Company (US), BASF SE (Germany), and Asian Paints Limited (India) are the key players in the global Decorative Coatings market.
