Global Decorative Coatings Market Research Report – by Type (Primer, Enamel, Emulsion and Others), by Technology (Water Borne and Solvent Borne), by Application (Residential, Non-Residential and Others) and by Region- Forecast till 2023
Pune, India -- (SBWIRE) -- 05/15/2018 -- Decorative Coatings Market – Market Overview
Decorative Coatings are used as colorant for the purpose of aesthetic on metal wooden and concrete surface. Overall application scope of the Decorative Coatings includes sole construction industry, wherein the application includes residential, non-residential and other applications. Moreover, the growth in this market is characterised by the increasing expenditure on the construction projects, rising focus on the tourism infrastructure, increasing FDI in Asian markets, and economic developments. Factors such as increasing product innovation, colorant customization, and trend for the bio based product formulating as a result of the strict government regulations. On the split side, implementation of the strict environmental regulations in the various regions restraining the growth of this market. Europe is one of the region who have regulated strict norms for compliance on environmentally harmful product. Therefore, the factor expected to further challenge the growth of this market.
Decorative Coatings Market- Competitive Landscape
Global Coatings Industry is on the rise over the past few years and therefore it is also driving demand for the Decorative Coatings. The major reason for the growth in this market is booming construction industry across the globe as a result of increasing population and increasing nuclear families. Competitive rivalry observed in this market is high and it is expected to get even higher over the assessment period. The major market players in global decorative coatings are BASF, Arkema, DuPont, AkzoNobel, PPG, Dulux, Asian Coatings, DOW chemicals, which are the major chemical industry participants. Over all of the players BASF is the largest market player with highest market share and with extended product portfolio. As per our analysis, the Global Decorative Coatings Market to show several growth opportunities as a result of parent market growth, and increasing investment in bio based products.
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Industry/ Innovation/ Related News:
February 22, 2018 - Arkema announced the expansion of the coatings additive products. The expansion undertaken is of Palmer Holland's North America distribution territory for the specific products including Orgasol® and Rilsan® D. These products are high-performance coating additives and are designed mainly for liquid and UV coatings. On the basis of the Arkema's specialty polyamide chemistry, high-performance additives enhance the multiple performance aspects of the formulation including abrasion resistance, chemical resistance, gloss reduction, hardness, and also texture creation. These products have great importance in decorative as well as aesthetic applications.
May 17, 2017 – With 2.5 million investment in the performance coating at Indonesian plant AkzoNobel expands their coatings operations in Indonesia. Production capacity will be increased by 40% to the overall capacity. As per quoted by one of the directors of the AkzoNobel, the investment is done to attain the increasing growth of the aesthetic coatings product demand. Added production capacity will be helping AkzoNobel product offering in the coatings industry and catering demand for bio based solutions in the aesthetic coatings product.
November 23, 2017- Indian based decorative Coatings manufacturer i.e Decorazzi Coatings & Coatings have expanded production capacity by investing overall range of INR 5-10 cores. As of now, the company has a presence in limited states of the Indiana market such as Maharashtra, Karnataka, Assam, Telangana, and the investment has made to expand the operations across the Indian market.As per the our analysis, India and China expected to be the largest markets for the construction industry as a result of increasing FDI as well as increasing governmental support. Hence, the expansion activity will avail new growth opportunities for abovementioned company's
May 10, 2016 – One of the leading coatings producer in the chemical industry has announced the expansion of powder coatings resins in India. Arkema foremost producer of specialty material announced plans to build a new polyester powder resin manufacturing facility, which will be the first in India, on its existing resin platform in Navi Mumbai, Maharashtra. The overall projects will be undertaken by investing a total amount of USD 15 million and expected to start the production by 2108. The new production facility will be containing new laboratory to provide both application development and technical support. Product offering will be environmentally free and will be sold under the trade name of REAFREE®. As per our analysis, booming construction industry in Asia Pacific industry has been driving the growth of decorative coatings products, and the increased capacity of coatings resin will avail the growth offering in this market.
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