Axiom MRC has updated all it's market research reports with the Economic Impact Analysis of COVID19 Pandemic on the market. Our team of analyst are following Comprehensive Three Dimensional (3D) Research Methodology along with large number primary interviews with key industry participants to bring insightful market reports to meet the current market requirements.
The decorative coatings are the type of paints and coating which are widely used to coat buildings and homes. Most of the decorative coatings has application in the roof coatings, wall paints or deck finishes. Also, architectural coating provides certain decorative, durable and protective functions. The decorative coating increases the life of buildings by providing them a covering for protection against the fungi, pollutants. These coatings are highly used for the purpose of the increasing the sheet life, its usage and aesthetic value of the residential and commercial building.
The global market of the decorative coating market is witnessing the rising demand since decades. The market is influenced by the growth of the construction industry, environmentally friendly coating systems, durable coating with better performance and aesthetics are driving the market to the huge extend. However, the market is getting hampered by the fluctuation in the raw materials and the foam formation like factors.
The exclusive COVID-19 impact analysis report by axiom MRC provides a 3600 analysis of micro and macro-economic factors on the decorative coating market. In addition, complete analysis of changes on decorative coating expenditure, economic and international policies on supply and demand side. The report also studies the impact of pandemic on Global economies, international trade, business investments, GDP and marketing strategies of key players present in the market. The market is gets hampered by the covid-19 as there is lockdown in majority of regions and due to that the majority of market’s are get hampered.
The global market of the decorative coating market is segmented by resin type, technology, coating type, product type, application and Geography.
The global market of the decorative coating is segmented by the resin type like acrylic, alkyd, vinyl, polyurethane and others. The global market by resin type has acrylic reins as leading segment as they have huge potential as compared to oil-based paints in the protection of the weathering and oxidation resistance. These also have small tendency to absorb the UV light. The acrylic resin is expected to have well established market owing to durability and ability of resin type for protection from degradation of coating which can be caused by the rain, snow, wind and UV light. They are also having the good color and the gloss retentions.
The global market is segmented as per the technologies like water bone, solvent borne, powder coating. The segment is leaded by the powder coating due to its low operating costs, high operating efficiency, non-flammability and low spark hazards. This also giving the protection against pollution. Furthermore, in powder coating there are no addition of solvents for coating formation and has little or no hazardous waste to dispose. Nowadays there is high demand for high finishes such as the special effects, metallic effects and smooth low gloss finishes.
The coating type like interior, exterior and others is analysed by the study of the decorative coating market as in the segment of the coating type. The interior coating type are leading the segments as there is increasing in the construction spending along with the rapid development in the economic situations. The interior coatings provide a clean and fresh look. It also minimizes imperfections like dents, dings and marks from the walls. In addition to that it gives a modern look to the buildings.
The decorative coating market has the product type like emulsions, wood coatings, enamels and others. The wood coating is also sub-segmented as the varnishes and stains. The global leader among the segment is emulsions as are environment friendly and additionally non-flammable, easy handling and storage are boosting the segment of the product type. The emulsions are preferably applied on the walls and ceiling of the constructions. It can be water based with vinyl or acrylic made for the durability of coatings. Additionally, it provides glossy, satin, eggshell, silk, matt finishes structure to the walls and ceilings.
The decorative coating has the application in the residential and non-residential constructions. The residential constructions are sub-segmented as the new constructions and the remodel and repair. As the residential segment has the majority of applications and huge spending on the residential buildings are increasing it is leading the segment of applications. The remodelling of houses is generally preferred as it gives value to residential constructions, can be customized according to lifestyles, reduces the maintenance cost that can required in future.
Geographically, the study is comprised of the key countries of North America, Europe, Asia-Pacific and rest of the world. The Asia pacific is the global leader of the market as it has the developing economies like India, China and South Korea as there is rapid development in the economy and increase in the rate of constructions and spending on the constructions. The Europe is the fastest growing region in case of the Decorative coating market as the region includes developing economies such as UK, Germany, France, Italy, Spain. The region also has the fastest rate of the growth to the global market of the decorative coatings.
The major key players like The Sherwin-Williams Company, Akzo Nobel N.V., Asian Paints Limited, BASF SE, Benjamin Moore & Co., Berger Paints India Limited, Brillux GmbH & Co. Kg, Carpoly Chemical Group Co., LTD., Cloverdale Paint Inc., Cromology (Formerly Materis Paints),Daw Se, Diamond-Vogel Paint Company, Duluxgroup LTD., Fujikura Kasei Co., LTD., Guangdong Maydos Building Materials Co. LTD., Hempel A/S,H-I-S Coatings and Paint Manufacturing Co., Jotun Group, Kansai Paint Co., LTD., Kelly-Moore Paints, Lanco Paints, Masco Corporation, Nippon Paint Holdings Co., LTD., Pintuco, PPG Industries, Inc., RPM International Inc., STO Corp., Tikkurila Oyj among the others.
The study analyses the global market of the decorative coating market segments by resin type, technology, coating type, product type, application and the geography. The global leader of resin type is acrylic resins. The segment of the technology is headed by the powder coating and the product type, application and geography are leaded by the emulsion, residential and Asia Pacific respectively. The study also analysed the global impact of the covid-19 impact on the global market of the decorative coatings. The market is gets hampered by the covid-19 as there is lockdown in majority of regions and due to that the majority of market’s are get hampered.
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