Decorative Paints Market SWOT Analysis and Key Business Strategies Featuring 3M, AkzoNobel, Arkema, BASF SE, DowDuPont
2021 - 2028 Global Decorative Paints Market
The Global Decorative Paints Market is accounted for $51.40 billion in 2021 and is expected to reach $74.77 billion by 2028 growing at a CAGR of 5.5% during the forecast period. Decorative paints, in essence, are acrylic paints used by artists to create wall paintings and other artistic pieces. The use of decorative paints has been growing in recent times as several movements to promote art and artists have gathered momentum. Decorative paints play a vital role in infrastructure and architecture sector in order to embellish both exterior as well as interior of a building. The decorative paints offer matte finish, gloss and semi-gloss finish, eggshell and satin finish, etc. In addition, these paints offer various functions depending upon climatic conditions such as light absorption, insulation, reflection, and anti-skid. It is widely used in both residential and non-residential constructions. The residential sector segment is anticipated to witness the fastest CAGR growth during the forecast period, due to increasing investments, government initiatives for construction activities in developed and developing countries, and the growth in the trend of DIY among consumers. Asia Pacific is projected to hold the largest market share during the forecast period owing to rapidly growing disposable income of the middle class families, adoption of westernized culture, and mandatory rapid construction housing enormous population especially in major economies like India and China. North America is projected to have the highest CAGR over the forecast period, due to high rebound in construction projects, growth in the construction of residential and commercial buildings, implementation of stringent regulations, and changing consumer preference.
Some of the key players profiled in the Decorative Paints Market include 3M, AkzoNobel, Arkema, Asian Paints, BASF SE, Benjamin Moore, Brillux, Caparol, DAI NIPPON TORYO, DowDuPont, Dulux, Eastman Chemical, Fujikura Kasei, Kansai Paints, KCC Corporation, MASCO, Nippon Paint, PPG Industries, SK Kaken, and The Sherwin-Williams Company.
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