Decorative Coatings Market: By Resin Type (Acrylic, Alkyd, and Polyurethane), By Product Type (Emulsions, Enamel, and Wood Coatings), By Technology (Water Based, and Solvent Based), By Application (Residential and Non-Residential) and Geography    

Decorative coatings market size was valued at USD 70.8 billion in 2022 and is poised to grow at a CAGR of 4.9% from 2023-2029. Alteration and repair of residential, non-residential, commercial, and infrastructural structures are examples of building activities. According to PWC, worldwide construction output would increase by 85 percent by 2030, reaching USD 15.5 trillion. During the anticipated years, China, the United States, and India would contribute up to 57 percent of the industry's overall growth. The recovery of the main economies is credited with this expansion. Per capita paint consumption is also driven by rising standards of living, increased disposable income, and evolving interior design trends. These variables have a beneficial impact on the decorative coatings market's growth. The paints and coatings sector is heavily influenced by regulatory policies. Uncertainty can be created across the value chain as a result of potential regulatory changes. The time it takes for manufacturers at each node to accept the new rule and adopt new technology is referred to as this uncertainty. Raw material producers, formulators, channel partners, and end-users may be affected by various time-consuming regulatory changes in different locations. Decorative coatings manufacturers must constantly modify their processes to meet new laws and reduce VOC emissions as a growing number of governments impose severe regulatory policies.