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 paints are applied to both interior and exterior surfaces to enhance the attractive looks and a thick layer to prevent the surface against the moisture, bacteria, U.V. radiations, and corrosions, blistering, chalking, fading and peeling. They are commercially available in the various types of the colours to fulfil the demand of the different sectors like industrial, education and healthcare with some properties like anti-slip, fire resistance, anti-graffiti and anti-microbial properties. It shows the various characteristics like anti-skid, reflection, light absorption, and insulation. The decorative coatings are mostly used for the protectant and dyes for the concrete, wooden and metal structure against general deterioration. These coatings are used for improving the visual appearance of the wooden, flooring, furniture, coating wall and ceilings.
The rising demand of the decorative coatings has seen emerging growth in Asia Pacific region owing to the decorative coating durability and the great appearance to the surface of the walls as it protects the walls from the harsh environments and heat. The growth of the market is influenced by the rising demand of the eco-friendly coating, technological advancements, rapid infrastructure developments and increasing in the investments by companies are driving the Asia Pacific market growth to a great extent. However, the foam formation and fluctuations in the raw materials costs has hampering the market growth.
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 Asia Pacific 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 Asia Pacific market of the decorative coating market is segmented by resin type, technology, coating type, product type, application and country.
The study comprises of the resin type present in the Asia Pacific region of decorative coatings. The various resin type like acrylic, alkyd, vinyl, polyurethane and others. The acrylic resins have the most used in the segments as they provide a smooth and glossy finishing to the walls due to that they are leading the segment. Additionally, they provide the protection form the extreme heat, insulation, fire hazards due to that they are widely used in the segment.
The study involves the various technologies like water bone, solvent borne, powder coating in the Europe market of the decorative coatings. There is rising demand of the water borne coating in the China and India as increasing in the numbers of the joint ventures with the local manufacturers is the Asia Pacific. The government financing is also developing the growth of the acrylic resin in the market. Additionally, the water borne coating have high chemical resistance and remarkable colour and gloss due to these properties they are mainly used for the new constructions and maintain the old constructions.
The certain technologies like interior, exterior and others is segmented under the Asia pacific market of the decorative coating. The exterior coating is likely to fastest growing in the market as it provides the complete protection against the dust and dirt, protects exterior surface, improve the visual appearance, promotes good air quality, and repairs the exteriors damages. The exterior coatings are also providing the protection against the environmental factors it also slows down the process of wear and tear of the homes. Due to that they are fastest growing in the market.
The different product type like the emulsion, wood coatings, enamels and others. The wood coating is also sub-segmented as the varnishes and stains, the emulsion has leading the segment as it is eco-friendly. And additionally, it is easy to handle, storage and mostly non-flammable due to that they are experiencing the great market growth. The emulsion paints are generally applied to walls and ceilings it is a water based with acrylic or vinyl added for the durability of the emulsions. It also has certain advantages like less smell, dries quickly and easy to apply. Additionally, they also provide high quality finish and having high durability.
The application like residential and non-residential constructions. The residential constructions are sub-segmented as the new constructions and the remodel and repair. The residential section is projected the higher growth during the study as in the Asia Pacific there is increasing populations, continuous progress on the infra-structure and increasing government spending and the benefits boost mood at home, improve air quality in and around the home, beautification of interiors and significantly protect and prevent from the damage like factors are refuelling the market growth.
Country wise, the study is comprised of the key countries such as the Japan, India, Australia, South Korea and China. The China and India held the largest market share of Asia Pacific decorative coating market and is likely to dominate the market over the estimated time frame. Well-established commercial industry across the region, increasing number of research and development centres and companies that develop and manufacture advanced technologies and massive presence of major market players across the region are some of the major factors propelling the market growth in the Asia Pacific region. The other countries like Japan, Australia and South Korea are also developing the growth of the market.
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 comprised of the Asia Pacific market of the Decorative coating. It also analysed the various segments of the Europe market of the decorative coatings like by resin type, by technology, by coating type, by product type, by application and by country. The study also identifies the leaders of the segments like acrylic resin, powder coating, emulsions, residential and the China and India respectively. The study also identified the major key players in the market. The study additionally covers the Covid-19 the global pandemic impact on the Asia Pacific market of the decorative coatings as that 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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