An Incisive, In-depth Analysis on the Decorative Paints Market
This study offers a comprehensive, 360 degree analysis on the Decorative Paints market, bringing to fore insights that can help stakeholders identify the opportunities as well as challenges. It tracks the global Decorative Paints market across key regions, and offers in-depth commentary and accurate quantitative insights. The study also includes incisive competitive landscape analysis, and provides key recommendations to market players on winning imperatives and successful strategies.
Decorative paints are liquids, mixtures, or composites which, when applied on surfaces, get converted into a thin film or layer. Decorative paints play an important role in the construction and architecture sector, where they are used to embellish the interiors as well as exteriors of buildings with various finishes such as matte finish, eggshell and satin, gloss and semi-gloss, etc. The functionality of decorative paints differs significantly depending upon the prevailing climatic conditions. Revenue from the sales of decorative paints worldwide is estimated to be valued at US$ 42.9 Bn by 2016 end and the global decorative paints market is estimated to register a CAGR of 5.3% during the forecast period 2016–2026.
Changing consumer demands and rapid development of commercial and residential buildings expected to boost market growth
A rapid growth in urbanisation along with a high standard of living and increasing customer preferences for depicting an architectural touch in residential buildings has boosted the demand for decorative paints in the last few years. A rising number of commercial buildings and rocketing construction of skyscrapers is further expected to push the demand for decorative paints in the coming years. Manufacturers are producing paints that can be used on multiple substrates such as cement walls, wood, glass, tiles, composites, etc. with robust physical and chemical properties, providing consumers the freedom to use paints as per their suitability. This, in turn, is expected to boost the growth of the global decorative paints market over the forecast period. However, the threat of product substitution is expected to be a restraint to the global decorative paints market and use of nanotechnology based powder paints and coatings is expected to pose significant challenges to traditional decorative paints manufacturers globally.
Introduction of intelligent paints for controlling temperature and heat transfer in varied geographical and climatic conditions around the world is emerging as a major trend in the global decorative paints market. Also, the need to decrease the hazardous impact of solvent based paints on the environment across the globe is pushing manufacturers and consumers to go for water based paints that emit lower Volatile Emission Control (VOC) as compared to solvent based paints.
By Product Type
By Sales Channel
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Water Based Paints product type segment expected to account for maximum revenue share of the global decorative paints market
The water based decorative paints segment is estimated to account for a large revenue share of 85.7% in the global decorative paints market by 2016 end, registering a healthy CAGR of 5.6% over the forecast period. Demand for water based decorative paints is expected to remain high due to their environment friendly nature as water based paints reduce VOC by 40% - 80%.
Emulsions formulations segment estimated to hold maximum revenue share of the global decorative paints market
The emulsions segment is anticipated to account for 81.5% revenue share of the global decorative paints market by the end of 2016, witnessing a CAGR of 5.4% over the forecast period. Owing to their acrylic nature, a significant demand for emulsion paints comes from the retail and commercial sectors.
Premium Range price segment estimated to register a relatively high CAGR during the forecast period
The premium range segment is anticipated to register a value CAGR of 5.5% by 2026. The medium range segment is estimated to hold approximately half of the total revenue share of the global decorative paints market and is expected to register a CAGR of 5.3% during the forecast period. Demand for premium range paints is mainly in interior applications while medium range paints are in demand in both interior and exterior applications.
Offline Store sales channel segment expected to hold maximum revenue share by 2016
The offline store segment includes both multi-brand stores and company owned outlets whereas the online segment includes facilities where sales are done with the help of the internet. The offline segment is estimated to hold a disproportionately large share of 94.9% in terms of revenue by 2016 end. The market share of the online segment is small and is limited to the developed regions of North America and Western Europe.
Interior application segment expected to create high incremental $ opportunity between 2016 and 2026
The interior segment is estimated to hold 76.2% market share in terms of revenue by 2016 end and is expected to register a CAGR of 5.5% over the forecast period. The exterior segment is estimated to be pegged at 5,663 KT by 2016 end in volume terms, registering a volume CAGR of 3.4%.
APEJ projected to account for the largest market value share throughout the forecast period
With China as a major contributor of regional growth, the APEJ region is expected to dominate the global decorative paints market in terms of revenue with 28.2% share by 2016 end. North America and Latin America are estimated to collectively account for a market value share of 24.1% by the end of 2016. Supported by a healthy rebound in the construction industry, the North America decorative paints market is expected to show good signs of growth through 2026.
Top market players are focussing on enhancing their product portfolio through structured R&D initiatives
Akzo Nobel N.V, The Sherwin-Williams Company, PPG Industries Inc., Asian Paints, Nipsea Group (Nippon Paints), BASF SE, The Valspar Corporation, Berger Paints India Limited, Kansai Paint Co. Ltd., RPM International Inc., and Jotun are some of the leading players operating in the global decorative paints market. Top companies are investing heavily in new manufacturing facilities and are collaborating with big international players to increase sales and retain their strategic position in the global decorative paints market.
Future Market Insights offers a 10-year forecast for the global decorative paints market in a new publication titled “Decorative Paints Market: Global Industry Analysis and Opportunity Assessment, 2016–2026”. Our study demonstrates key market dynamics and trends across regions that are expected to influence the current status and future prospects of the global decorative paints market over the forecast period (2016 – 2026). The primary objective of this report is to provide information on key drivers, restraints, trends, opportunities, regulations, value chain analysis, and updates on developments in the global decorative paints market; and conduct a quantitative as well as qualitative assessment of the market across various regional market segments.
To understand and assess market opportunities and trends, the global decorative paints market report is categorically split into different sections based on market segmentation – by product type, by formulations, by price, by application, by sales channel, and by region. The report starts with the market overview and provides market definition and analysis about drivers, restraints, opportunities, value chain analysis, and key trends in the market. The sections that follow include global market analysis, analysis by product type, formulations, price, sales channel, application, and regional/country level analysis. All the above sections evaluate the market on the basis of various factors affecting the market. Each section discusses the qualitative and quantitative aspects of the global decorative paints market. To give a brief idea about revenue opportunities from the product types, formulations, price, sales channels, application, and region/country-wise segments, the report also provides volume (KT) data, absolute $ opportunity, and total incremental opportunity for each segment over the forecast period.
In the final section of the report, we have provided the global decorative paints market structure and a detailed competition landscape with company market share and performance, to provide report audiences with a dashboard view of key players operating in the global decorative paints market along with their long-term and short-term business strategies.
For market data analysis, we have considered 2015 as the base year, with market numbers estimated for 2016 and forecast made for 2017–2026. To calculate market size, the report considers the weighted average price of decorative paints by product type across key geographies on a regional basis. The forecast assesses the total revenue as well as volume (KT) of the global decorative paints market. In order to provide an accurate forecast, we have started by sizing up the current market, which forms the basis of how the global decorative paints market is expected to develop in the future. We have acquired critical market data through in-depth secondary research. This data is then triangulated on the basis of different verticals, considering both supply side and demand side drivers and other dynamics of the various regional markets, along with primary interviews of manufacturers and industry experts operating in the global decorative paints market.
Given the ever-fluctuating nature of the global economy, we not only conduct forecasts in terms of CAGR, but also analyse the market based on key parameters such as year-on-year (Y-o-Y) growth rate to understand market predictability and identify the right opportunities across the global decorative paints market. We have also analysed the different segments of the global decorative paints market in terms of basis point share (BPS) to understand individual segments’ relative contribution to market growth. This detailed level of information is important for identifying the various key trends governing the global decorative paints market. Another important feature of our report is an analysis of all the key segments in terms of absolute dollar opportunity, critical in evaluating the scope of opportunity that a provider can look to achieve, as well as to identify potential resources from a delivery perspective in the global decorative paints market. The overall absolute dollar opportunity along with the segmental split is mentioned in the report. Further, to understand key market segments in terms of growth and performance, we have developed the global decorative paints market attractiveness index to help providers identify real market opportunities in the global decorative paints market.