From discount paints for your first own home to high-quality paints for professionals. Decorative paints are probably the most present paints in our everyday lives. Reason enough to present five facts about the global architectural coatings market.
The middle class is growing worldwide, especially in emerging markets. This has a direct impact on the decorative coatings market, which benefits from the new middle class investing in better housing.
For this reason, in particular, market researchers are predicting a respectable growth for decorative paints in the coming years, even if the current uncertain global economic outlook leaves a few question marks here.
The figures for the size of the decorative paint market vary depending on which market research company you ask. According to figures from IRL, the decorative paint market in 2018 was worth 59.6 billion euros and a good 32 million tonnes.
Share of the coating market
Decorative paints are the largest single segment in the global paint and varnish market and account for 54 % or more than half of the total volume. The value is slightly lower. At 42%, however, the value share is still impressive.
Important regions for architectural coatings
The largest market for architectural coatings is the Asia-Pacific region. Europe ranks second with a market share of 28%. North America ranks third with a market share of only 19%. Some markets in Africa are currently said to have particularly high growth rates, even though the continent as such still has a rather small market share.
The switch to water-based coatings for decorative paints is more advanced than in most other market segments. Worldwide, the figure is already 85%. Especially when it comes to heavy corrosion protection, changing solvents is difficult, so decorative paints are not quite as difficult.
The regional distribution of water-based decorative paints basically follows that for all decorative paints. Deviations are mainly found in Asia and Europe. The Asia-Pacific region has a slightly higher market share of 40%, while Europe has a lower market share of 24%.
Find quality coating raw materials on OKCHEM (click to inquire)
Related news in the coating industry
Evonik Offers Silicone Resin for High-heat Coatings
Silicone acrylate coating with optically non-uniform structure
Facts you need to know about
The facts about the silicone
AkzoNobel Invests in Wood
Coatings Facility to Serve U.S. Market
Sustainable Solution for Auto. Interior Painted Surfaces - Eastman and NB