Decorative Coatings Market to Hit USD 107 Bn by 2022, Predicts Grand View Research in Its In-Demand Publication Published at MarketPublishers.com
20 Jan 2017 • by Natalie Aster
LONDON – Through 2022, the world’s market for decorative coatings is slated to hit almost USD 107 billion. Rising expenditures on construction in the light of increasing urbanization, rising population number and favourable government infrastructural plan are amid the key factors fueling the market growth.
Owing to boosting number of commercial establishments including business parks and shopping malls, emerging economies in the Southeast Asian region like Malaysia, Thailand and Singapore are anticipated to see remarkable increase in the decorative coatings market.
The waterborne coatings sector captures a share of over 70% of the world’s industry revenue, this sector is predicted to gain share over solventborne sector. Enhancing government concerns of carbon footprints and efforts to produce eco-friendly products will also boost the waterborne coatings sector in the nearest future.
Production of cost-efficient and high performance coatings, introduction of nanocoatings and green coatings are amid the key trends in the market, opening new growth opportunities for the market players in the short run.
As of 2014, the global demand for decorative coatings reached 21,473.1 kilo tons, by 2022 it is expected to amount to 34,483.7 kilo tons, posting a 6.1% CAGR through 2022.
Region-wise, North America possesses a share of more than 15% of the global market and is predicted to witness healthy growth in the years ahead owing to rapid infrastructure development and re-development in the USA and Mexico.
Insightful research report “Decorative Coatings Market Analysis By Product, By Technology, By Application And Segment Forecasts To 2022” prepared by Grand View Research offers a comprehensive analysis of the world’s market for decorative coatings worldwide. The report includes an all-round overview of the market segmentation (by product type, technology, application and region). It examines the market size, shares, applications; discusses the market dynamics (growth drivers, restraints, challenges); explores the competitive landscape of the market and comprises profiles of 22 top industry players active in the market. Besides, the report highlights noteworthy trends and offers an all-round future outlook for the market up to 2022.
Other topical research reports by this publisher can be easily found at the Grand View Research page.