The global decorative coatings market reached USD 67.7 billion and is anticipated to reach USD 92.6 billion by 2032, reflecting a revenue compound annual growth rate (CAGR) of 3.2% during the forecast period. The demand for decorative coatings is notably high in the building and automotive industries, driven by their visual appeal and durability, contributing to the growth of market revenue. Additionally, the market is experiencing increased consumer interest in environmentally friendly decorative coatings and a rising attraction towards do-it-yourself home repair projects.

The construction industry plays a pivotal role in propelling the revenue growth of the decorative coatings market, given the escalating demand for these coatings in both residential and commercial structures. Rapid urbanization, coupled with the increase in consumer disposable income, is fueling the demand for aesthetically pleasing interiors and exteriors, thereby boosting market revenue. Furthermore, the adoption of eco-friendly decorative coatings is contributing to market growth, driven by the rising demand for energy-efficient buildings and the implementation of stringent government regulations aimed at reducing carbon emissions.

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Different businesses in the chemicals and materials industries differ in size, geography, business style, and end-market focus. These businesses are part of a larger ecosystem that includes oil, gas, coal, minerals, and bio-based products as raw materials on one hand and a wide range of application industries on the other. It is traditional to divide the chemical industry into three major categories: petrochemicals, diversified manufacturers, and specialized industries.

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Moreover, the report provides insight into how the Decorative Coatings market will develop between 2023 and 2032. Companies operating in the Decorative Coatings market can benefit from the in-depth dynamics presented in the report, thereby making strategic development decisions that will help them succeed. During the forecast period, the Decorative Coatings market is expected to undergo significant changes that will highly configure its growth.

Furthermore, the report highlights the growth prospects of the Decorative Coatings market and estimates market progress in terms of value (USD million) and volume (thousand units).

Strategic Development:

The following are some of the recent strategic developments in the global decorative coatings market:

• In 2021, PPG Industries, Inc. acquired Ennis-Flint, a global leader in pavement markings and traffic safety solutions. The acquisition was aimed at expanding PPG's product offerings and enhancing its position in the traffic safety coatings market.
• In 2020, Akzo Nobel N.V. acquired the decorative coatings business of Spain-based Industrias Titan S.A.U. The acquisition was aimed at strengthening Akzo Nobel's position in the Iberian region and expanding its product portfolio in the decorative coatings market.
• In 2019, Sherwin-Williams Company announced the acquisition of The Valspar Corporation, a global leader in the paint and coatings industry. The acquisition was aimed at expanding Sherwin-Williams' product offerings and enhancing its position in the decorative coatings market.
• In 2018, BASF SE acquired the decorative paints business of the Italian company, R-M S.p.A. The acquisition was aimed at expanding BASF's product portfolio in the Automotive Coatings market and enhancing its position in the decorative coatings market.

Competitive Landscape:

• Akzo Nobel N.V.
• PPG Industries, Inc.
• Sherwin-Williams Company
• BASF SE
• The Dow Chemical Company
• RPM International Inc.
• Axalta Coating Systems Ltd.
• Asian Paints Limited
• Nippon Paint Holdings Co., Ltd.
• Kansai Paint Co., Ltd.

Segments Covered in the Report:

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Key Questions Answered in This report on the Decorative Coatings Market

The report provides detailed information about the Decorative Coatings market on the basis of comprehensive research on various factors that play a key role in accelerating the growth potential of the market. The information mentioned in the report answers path-breaking questions for companies that are currently functioning in the market and are looking for innovative ways to create a unique benchmark in the Decorative Coatings market, so as to help them formulate successful strategies and take target-driven decisions.

• How are key market players successfully earning revenue from the advantages of the product?
• What will be the Y-o-Y growth of the Decorative Coatings market between 2023 and 2032?
• What are the winning imperatives of market frontrunners in the Decorative Coatings market?
• Which end-user is expected to undertake maximum adoption of the product during the forecast period?

Research Methodology: Decorative Coatings Market

The research methodology adopted by analysts to compile the Decorative Coatings market report is based on detailed primary as well as secondary research. With the help of in-depth insights of industry-affiliated information that is obtained and legitimated by market-admissible resources, analysts have offered riveting observations and authentic forecasts of the Decorative Coatings market.

During the primary research phase, analysts interviewed industry stakeholders, investors, brand managers, vice presidents, and sales and marketing managers. On the basis of data obtained through interviews with genuine resources, analysts have emphasized the changing scenario of the Decorative Coatings market.

For secondary research, analysts scrutinized numerous annual report publications, white papers, import and export data of major countries around the world, industrial production index, industry association publications, and company websites to obtain the necessary understanding of the Decorative Coatings market.

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