Decorative Paints Market

Decorative Paints Market

Decorative Paints Market Forecasts to 2028 – Global Analysis By Price (Premium Range, Medium Range, Economical Range), Sales Channel (Online Stores, Offline Stores), Resin Type (Acrylic, Alkyd, Polyurethane), and By Geography

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Published: 2022 ID: SMRC21311

This report covers the impact of COVID-19 on this global market

Years Covered


Estimated Year Value (2021)

US $51.40 BN

Projected Year Value (2028)

US $74.77 BN

CAGR (2021 - 2028)


Regions Covered

North America, Europe, Asia Pacific, South America, and Middle East & Africa

Countries Covered

US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa

Largest Market

Asia Pacific

Highest Growing Market

North America

According to Stratistics MRC, the Global Decorative Paints Market is accounted for $51.40 billion in 2021 and is expected to reach $74.77 billion by 2028 growing at a CAGR of 5.5% during the forecast period. Decorative paints, in essence, are acrylic paints used by artists to create wall paintings and other artistic pieces. The use of decorative paints has been growing in recent times as several movements to promote art and artists have gathered momentum. Decorative paints play a vital role in infrastructure and architecture sector in order to embellish both exterior as well as interior of a building. The decorative paints offer matte finish, gloss and semi-gloss finish, eggshell and satin finish, etc. In addition, these paints offer various functions depending upon climatic conditions such as light absorption, insulation, reflection, and anti-skid. It is widely used in both residential and non-residential constructions.

Market Dynamics:


Rising demand from construction industry

Construction involves various activities, including alteration and repair of residential, non-residential, commercial, and infrastructural constructions. China, the US, and India will contribute up to 57% to this overall growth of the industry during forecasted years. This growth is attributed to the economic recovery in the major economies. Improvement in the standard of living, rise in disposable income, and growing trends in interior decoration also drive the per capita paint consumption. These factors are positively influencing the growth of the decorative paints market.


Stringent and time-consuming regulatory policies

Potential changes in regulations can create uncertainty throughout the value chain. Regulatory policies have a significant impact on the paints industry. This uncertainty refers to the time taken by the manufacturers at each node to accept the new regulation and adopt new technology. Different time-consuming regulatory changes in different regions can affect the raw material producers, formulators, channel partners, and end-users. With the increasing number of governments implementing stringent regulatory policies, decorative paints producers must constantly evolve their processes to comply with the new policies and reduce VOC emissions.


Growing investments in emerging markets

Emerging economies are investing in large-scale infrastructure development projects. The markets in these economies are witnessing higher growth compared to the markets in North America and Europe. This is attributed to the leading companies investing heavily in these regions as there is a tremendous opportunity. APAC, especially China and India, provides remarkable growth opportunities for decorative coatings manufacturers. Rapid urbanization, a stable economy, and a growing construction industry have fueled the demand for decorative paints in some APAC countries. More residential buildings are being constructed in the region to meet the needs of the growing population in major cities of Indonesia, Malaysia, Thailand, Vietnam, and other countries.


Volatility in prices of titanium dioxide

Titanium dioxide (TiO2) is an essential ingredient in the manufacturing of decorative paints. TiO2 comprises 20–30% of the total expenditure on raw materials. There are many global suppliers for TiO2, and there is no substitute available for this ingredient. TiO2 pigments are traded internationally; however, the fluctuations in the price of TiO2 have increased in both amplitude and frequency in the last decade. These frequent changes in the prices make it difficult for the customers to plan their spending and affect their profit margin.

The acrylic segment is expected to be the largest during the forecast period

The acrylic segment is estimated to have a lucrative growth. Acrylic resins are thermoplastic or thermosetting plastic substances derived from acrylic acid, methacrylic acid, and other related compounds. Thermosetting acrylic resins are typically copolymers of acrylic or methacrylate esters and a hydroxyl-functionalized acrylic ester. The hydroxyl-functionalized monomer provides a site for crosslinking. In thermoplastic resins, the polymers do not contain any reactive group as polymer chains are not crosslinked.

The residential sector segment is expected to have the highest CAGR during the forecast period

The residential sector segment is anticipated to witness the fastest CAGR growth during the forecast period projected to grow at a rapid rate in the potential market in the years to come. This is due to increasing investments and government initiatives for construction activities in developed and developing countries. Moreover, the growth in the trend of DIY among consumers will propel the consumption of residential applications. Fast expansion in urbanization along with a high standard of living and escalating consumer preferences for showing an architectural touch in residential buildings has promoted the urge for decorative paints in the last years.

Region with largest share:

Asia Pacific is projected to hold the largest market share during the forecast period owing to rapidly growing disposable income of the middle class families, adoption of westernized culture and mandatory rapid construction housing enormous population especially in major economies like India and China. According to the analyst, APAC region relishes a major 44% share under its own territory of the global decorative paints market demand. With India and China hosting nearly 35% of the global population, such dominance is inevitable due to the robust commercial and residential sector construction. Asian Paints is one of the leading the market players in the APAC region. Indian market in this region exhibits tremendous purchasing capacity of decorative paints. Decorative paints account for 75% of the overall paint market in India.

Region with highest CAGR:

North America is projected to have the highest CAGR over the forecast period. In the North American region, the U.S. decorative paints market is expected to grow by 4.1% year-on-year. Revenue generated in the market will be pushed by a high rebound in construction projects. Moreover, growth in the construction of residential and commercial buildings will continue pushing demand for decorative paints. Environmental friendly and low VOC paint products will dominate the market. Driven by implementation of stringent regulations and changing consumer preference, sales of low VOC paints are expected to pick up in the U.S.

Key players in the market:

Some of the key players profiled in the Decorative Paints Market include 3M, AkzoNobel, Arkema, Asian Paints, BASF SE, Benjamin Moore, Brillux, Caparol, DAI NIPPON TORYO, DowDuPont, Dulux, Eastman Chemical, Fujikura Kasei, Kansai Paints, KCC Corporation, MASCO, Nippon Paint, PPG Industries, SK Kaken, and The Sherwin-Williams Company.

Key Developments:

In August 2020, PPG and Sibi, a technology platform for supply chain, announced a four-year partnership with Tricon American Homes (TAH) for PPG paint products. Through the agreement, TAH will use a standardized set of PPG paint products with low or zero volatile organic compounds (VOCs) for maintenance and new construction across TAH’s more than 7,000 multi-family and 21,000 single-family rental properties in Arizona, California, Florida, Georgia, Indiana, Nevada, North Carolina, South Carolina, Tennessee, and Texas.

In November 2020, Eastman Chemical, an American chemical company, announced its plans to invest for increasing the production capacity at its tertiary Decorative Paints manufacturing facility in Ghent, Belgium, by the end of 2021.

In June 2017, Sherwin-Williams Company, a leading paints manufacturing company, announced acquiring an American manufacturer of paints and coatings, Valspar Corp. The acquisition will assist the company to increasing its production capacity and expand its paints & coatings product portfolio.
Product Types Covered:
• Water Based Decorative Paints
• Solvent Based Decorative Paints
• UV-Cured
• Other Product Types

Prices Covered:
• Premium Range
• Medium Range
• Economical Range

Formulations Covered:
• Emulsion
• Distemper
• Wood Coating
• Enamels
• Other Formulations

Sales Channels Covered:
• Online Stores
• Offline Stores
Resin Types Covered:

• Acrylic
• Alkyd
• Polyurethane
• Other Resin Types

Applications Covered:
• Interior
• Exterior

End Users Covered:
• Residential Sector
• Commercial Sector

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan       
o China       
o India       
o Australia 
o New Zealand
o South Korea
o Rest of Asia Pacific   
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary     
2 Preface      

 2.1 Abstract     
 2.2 Stake Holders    
 2.3 Research Scope    
 2.4 Research Methodology   
  2.4.1 Data Mining   
  2.4.2 Data Analysis   
  2.4.3 Data Validation   
  2.4.4 Research Approach   
 2.5 Research Sources    
  2.5.1 Primary Research Sources  
  2.5.2 Secondary Research Sources  
  2.5.3 Assumptions   
3 Market Trend Analysis    
 3.1 Introduction    
 3.2 Drivers     
 3.3 Restraints    
 3.4 Opportunities    
 3.5 Threats     
 3.6 Product Analysis    
 3.7 Application Analysis   
 3.8 End User Analysis    
 3.9 Emerging Markets    
 3.10 Impact of Covid-19    
4 Porters Five Force Analysis    
 4.1 Bargaining power of suppliers   
 4.2 Bargaining power of buyers   
 4.3 Threat of substitutes   
 4.4 Threat of new entrants   
 4.5 Competitive rivalry    
5 Global Decorative Paints Market, By Product Type  
 5.1 Introduction    
 5.2 Water Based Decorative Paints  
 5.3 Solvent Based Decorative Paints  
 5.4 UV-Cured    
 5.5 Other Product Types   
  5.5.1 Powder-Based   
  5.5.2 Oil-Based   
6 Global Decorative Paints Market, By Price  
 6.1 Introduction    
 6.2 Premium Range    
 6.3 Medium Range    
 6.4 Economical Range    
7 Global Decorative Paints Market, By Formulation  
 7.1 Introduction    
 7.2 Emulsion     
 7.3 Distemper    
  7.3.1 Dry    
  7.3.2 Synthetic    
 7.4 Wood Coating    
 7.5 Enamels     
 7.6 Other Formulations    
  7.6.1 Putty    
  7.6.2 Primer    
8 Global Decorative Paints Market, By Sales Channel  
 8.1 Introduction    
 8.2 Online Stores    
 8.3 Offline Stores    
9 Global Decorative Paints Market, By Resin Type  
 9.1 Introduction    
 9.2 Acrylic     
 9.3 Alkyd     
 9.4 Polyurethane    
 9.5 Other Resin Types    
  9.5.1 Vinyl Acetate   
  9.5.2 Epoxy    
10 Global Decorative Paints Market, By Application  
 10.1 Introduction    
 10.2 Interior      
 10.3 Exterior     
11 Global Decorative Paints Market, By End User  
 11.1 Introduction    
 11.2 Residential Sector    
 11.3 Commercial Sector    
12 Global Decorative Paints Market, By Geography  
 12.1 Introduction    
 12.2 North America    
  12.2.1 US    
  12.2.2 Canada    
  12.2.3 Mexico    
 12.3 Europe     
  12.3.1 Germany    
  12.3.2 UK    
  12.3.3 Italy    
  12.3.4 France    
  12.3.5 Spain    
  12.3.6 Rest of Europe   
 12.4 Asia Pacific    
  12.4.1 Japan    
  12.4.2 China    
  12.4.3 India    
  12.4.4 Australia    
  12.4.5 New Zealand   
  12.4.6 South Korea   
  12.4.7 Rest of Asia Pacific   
 12.5 South America    
  12.5.1 Argentina   
  12.5.2 Brazil    
  12.5.3 Chile    
  12.5.4 Rest of South America  
 12.6 Middle East & Africa   
  12.6.1 Saudi Arabia   
  12.6.2 UAE    
  12.6.3 Qatar    
  12.6.4 South Africa   
  12.6.5 Rest of Middle East & Africa  
13 Key Developments     
 13.1 Agreements, Partnerships, Collaborations and Joint Ventures
 13.2 Acquisitions & Mergers   
 13.3 New Product Launch   
 13.4 Expansions    
 13.5 Other Key Strategies   
14 Company Profiling     
 14.1 3M     
 14.2 AkzoNobel    
 14.3 Arkema     
 14.4 Asian Paints    
 14.5 BASF SE     
 14.6 Benjamin Moore    
 14.7 Brillux     
 14.8 Caparol     
 14.10 DowDuPont    
 14.11 Dulux     
 14.12 Eastman Chemical    
 14.13 Fujikura Kasei    
 14.14 Kansai Paints    
 14.15 KCC Corporation    
 14.16 MASCO     
 14.17 Nippon Paint    
 14.18 PPG Industries    
 14.19 SK Kaken     
 14.20 The Sherwin-Williams Company  

List of Tables      
1 Global Decorative Paints Market Outlook, By Region (2019-2028) ($MN)
2 Global Decorative Paints Market Outlook, By Product Type (2019-2028) ($MN)
3 Global Decorative Paints Market Outlook, By Water Based Decorative Paints (2019-2028) ($MN)
4 Global Decorative Paints Market Outlook, By Solvent Based Decorative Paints (2019-2028) ($MN)
5 Global Decorative Paints Market Outlook, By UV-Cured (2019-2028) ($MN)
6 Global Decorative Paints Market Outlook, By Other Product Types (2019-2028) ($MN)
7 Global Decorative Paints Market Outlook, By Powder-Based (2019-2028) ($MN)
8 Global Decorative Paints Market Outlook, By Oil-Based (2019-2028) ($MN)
9 Global Decorative Paints Market Outlook, By Price (2019-2028) ($MN)
10 Global Decorative Paints Market Outlook, By Premium Range (2019-2028) ($MN)
11 Global Decorative Paints Market Outlook, By Medium Range (2019-2028) ($MN)
12 Global Decorative Paints Market Outlook, By Economical Range (2019-2028) ($MN)
13 Global Decorative Paints Market Outlook, By Formulation (2019-2028) ($MN)
14 Global Decorative Paints Market Outlook, By Emulsion (2019-2028) ($MN)
15 Global Decorative Paints Market Outlook, By Distemper (2019-2028) ($MN)
16 Global Decorative Paints Market Outlook, By Dry (2019-2028) ($MN)
17 Global Decorative Paints Market Outlook, By Synthetic (2019-2028) ($MN)
18 Global Decorative Paints Market Outlook, By Wood Coating (2019-2028) ($MN)
19 Global Decorative Paints Market Outlook, By Enamels (2019-2028) ($MN)
20 Global Decorative Paints Market Outlook, By Other Formulations (2019-2028) ($MN)
21 Global Decorative Paints Market Outlook, By Putty (2019-2028) ($MN)
22 Global Decorative Paints Market Outlook, By Primer (2019-2028) ($MN)
23 Global Decorative Paints Market Outlook, By Sales Channel (2019-2028) ($MN)
24 Global Decorative Paints Market Outlook, By Online Stores (2019-2028) ($MN)
25 Global Decorative Paints Market Outlook, By Offline Stores (2019-2028) ($MN)
26 Global Decorative Paints Market Outlook, By Resin Type (2019-2028) ($MN)
27 Global Decorative Paints Market Outlook, By Acrylic (2019-2028) ($MN)
28 Global Decorative Paints Market Outlook, By Alkyd (2019-2028) ($MN)
29 Global Decorative Paints Market Outlook, By Polyurethane (2019-2028) ($MN)
30 Global Decorative Paints Market Outlook, By Other Resin Types (2019-2028) ($MN)
31 Global Decorative Paints Market Outlook, By Vinyl Acetate (2019-2028) ($MN)
32 Global Decorative Paints Market Outlook, By Epoxy (2019-2028) ($MN)
33 Global Decorative Paints Market Outlook, By Application (2019-2028) ($MN)
34 Global Decorative Paints Market Outlook, By Interior (2019-2028) ($MN)
35 Global Decorative Paints Market Outlook, By Exterior (2019-2028) ($MN)
36 Global Decorative Paints Market Outlook, By End User (2019-2028) ($MN)
37 Global Decorative Paints Market Outlook, By Residential Sector (2019-2028) ($MN)
38 Global Decorative Paints Market Outlook, By Commercial Sector (2019-2028) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.

List of Figures


Research Methodology

We at Stratistics opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.

Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.

Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.

Data Mining

The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.

Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.

Data Analysis

From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:

  • Product Lifecycle Analysis
  • Competitor analysis
  • Risk analysis
  • Porters Analysis
  • PESTEL Analysis
  • SWOT Analysis

The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.

Data Validation

The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.

We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.

The data validation involves the primary research from the industry experts belonging to:

  • Leading Companies
  • Suppliers & Distributors
  • Manufacturers
  • Consumers
  • Industry/Strategic Consultants

Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.

For more details about research methodology, kindly write to us at

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