Decorative paints are defined as acrylic paints which helps to impart aesthetic design and distinctive texture in interior and exterior applications. The demand for decorative paints is rising growing with the change in consumer living patterns and growing focus over appearance of home, office, complexes, and other such spaces. With the growth of paints industry, the application of decorative paints in infrastructural and architectural sector has been recognized to be of utmost significance as they help to embellish both exterior and interior spaces of a building. Such paints are embedded with matte finish along with eggshell, gloss, or satin finish and much more which helps to provide unique artistic pieces. Additionally, such paints are known for their functional characteristics such as light absorption and reflection, heat insulation, low VOC, and others.
GROWING IN THE CONSTRUCTION INDUSTRY IN EMERGING ECONOMIES TO BOOST IN THE GLOBAL MARKET
The major players operating in the global decorative paints market include Nippon Nippon Paint, Akzo Nobel N.V., BASF SE, Dow Inc., Axalta Coating Systems, Asian Paints, PPG Industries Inc., RPM International Inc, Kansai, and The Sherwin-Williams and among many others. The major players in the decorative paints market are focused on strategies such as mergers and acquisitions and research and development to increase the geographical presence and consumer base globally.
Construction is considered to be one of the most dynamic industrial sectors which are significantly related to the evolution of better societies across the world. With the rise in disposable income along with shift in lifestyle and change in working demographics, need for better residential and commercial spaces, the need for architectural facilities have risen, thereby, promoting growth of construction industry. The growth of global market is supported by increased expenditure of government towards construction sector coupled with recovering labor market, strong credit growth and positive measures undertaken by government. The growth in residential and commercial sector along with new renovation activities is expected to promote the demand for decorative paints. The use of decorative paints across commercial and residential buildings is expected to provide growth opportunities of the market. Such paints are widely used at homes, complexes, offices, and other spaces. The demand for decorative paints is rising from the construction sector as they help to enhance the interiors and exteriors of buildings with different finishes including eggshell and satin, matte finish, gloss, and others. Further, such paints are widely used in several construction operations such as wall paints, roof coatings and other finishes for better appeal. Positive government measures coupled with increased investment towards building and construction sector is expected to fuel the demand for decorative paints in the global market.