The South and Central America decorative paints market was valued at US$ 4,077.68 million in 2019 and is projected to reach US$ 5,816.94 million by 2027; it is expected to grow at a CAGR of 4.6% from 2020 to 2027.
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 and coatings 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.
In 2019, the Brazil region is dominating the South and Central America decorative paints market and is also expected to grow rapidly during the forecasted period. The largest market share of the Brazil region is primarily attributed to the rise in production and application of decorative paints. Brazil is considered to be one of the largest markets in South and Central American region, which is one of the emerging economies witnessing an upsurge in the middle-class population along with growth in urbanization and have strong potential in building and construction establishments. The region significantly contributes to the growth of the decorative paints market owing to factors such as shift in consumer lifestyle demanding innovative and advanced residential and commercial spaces with high aesthetic characteristics. Further, positive government initiative to promote the new construction activities along with renovation or refurbishment of old infrastructure. The significant infrastructural changes along with rapid advancement in technologies is expected to create opportunities for the growth of the decorative paints market. Additionally, the presence of prominent manufacturers is also proliferating the growth of the market.
The COVID-19 pandemic was first reported in Wuhan, China, in December 2019. The pandemic is adversely affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns imposed by governments. Chemical and Materials is one of the major industries suffering serious disruptions, such as supply chain breaks, and shutdown of processing plants. The Brazil has the highest number of confirmed cases of COVID-19 compared to other countries in the world. This is likely to impact the chemical and materials industry in the region as, due to the COVID-19, the supply chain is likely to get affected and may negatively impact the South and Central America decorative paints market.
Geographic Overview of Decorative Paints Market
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Market Insights
High Demand of Water based Paints
Water-based paints are known to provide better durability, low odor, minimal emission of volatile organic compounds (VOC), and fast dry time. Further, they can be easily applied, safe to clean-up and possess low risk of fire. Water-borne paints are considered as an effective alternative for different types of paints that incorporates the use of volatile organic compounds including the hydrocarbons, which may deteriorate the environment quality. Such paints possess minimal viscosity along with durability and mildew resistance which make them extensively used across various application bases. Further, water based paints are known to provide high color retention over time and generate limited odors. All such characteristics have made them ideal element to be used across residential and commercial applications. Acrylic and latex are categorized under water-based paints and are significantly used as the film-forming binder ingredient.
The demand for water based paints is high as they are quite environment friendly and extensively used in residential and commercial applications. The growing focus over environment sustainability along with strict government regulations to minimize the use of harmful substances is expected to promote the demand for water based paints. This has motivated the manufacturers to invest in production of water-based decorative paints and coatings. The rise in demand for water based paints is expected to stimulate the growth of decorative paints market.
Type Insights
Based on type, the decorative paints market is bifurcated into water based decorative paints and solvent based paints. The water based decorative paints segment dominated the market in 2019. Water based decorative paints are mostly used due to the properties such as 80% water content as a solvent and also due to low VOC emissions. The demand for water based decorative paint has increased due to the rise in the spending on construction and restoration activities. Pigments, surfactants, synthetic resins, and additives are mostly the raw materials which are used in the manufacturing process of water based decorative paints. Water based decorative paint dries very quickly, cleaning up is easy and does not have harsh odor like oil paints. Water based decorative paints are of two types – Latex and acrylic. Both of these paints are used in order to paint spaces, homes and structures. Acrylic paint provides better durability, resiliency and adhesions. Latex paint basically provides greater coverage than the acrylic paint, is more eco-friendly and less expensive as well. Water based decorative paints provides durability, color retention and is versatile which means the paint can be used for a variety of substances which includes brick, concreter, wood, aluminum siding, vinyl siding and many more.
Application Insights
Based on application, the decorative paints market is bifurcated into residential and non-residential. Residential basically means house or home painting. This basically includes painting of the interiors as well the exteriors of the houses or residences. Decorative paints are used for residence purposes as it provides an aesthetic appeal to the walls as well as other surfaces and also helps to enhance the appeal. The residential sector is increasing as there is an increase in the residential construction across the South and Central America region. The increase in the per capita income has led to an increase in the home ownerships which has led to an increase in the demand for decorative paintings for residential purpose. The rapid urbanization has in this region is also going to drive the decorative paints market.
South and Central America Decorative Paints Market, by Type – 2019 and 2027
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South and Central America Decorative Paints Market: Strategic Insights
Market Size Value in US$ 4,077.68 Million in 2019 Market Size Value by US$ 5,816.94 Million by 2027 Growth rate CAGR of 4.6% from 2020-2027 Forecast Period 2020-2027 Base Year 2020
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South and Central America Decorative Paints Market: Strategic Insights
| Market Size Value in | US$ 4,077.68 Million in 2019 |
| Market Size Value by | US$ 5,816.94 Million by 2027 |
| Growth rate | CAGR of 4.6% from 2020-2027 |
| Forecast Period | 2020-2027 |
| Base Year | 2020 |
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BASF SE, The Sherwin-Williams Company, Akzo Nobel N.V., Hempel A/S and PPG Industries, Inc. are among the major players operating in the South and Central America Decorative Paints market. These companies are involved in various strategies and key developments, such as expansion and new product development, to capture market opportunities and position themselves as leading players in the South and Central America market scenarios. Further, the premier companies in the market are continuously looking forward to expand and diversify their market presence along with acquiring new customer base and meeting the demand generated by various end-use industries. The market players are aiming to cater rising demand for decorative paints. They are strongly focused toward research and developed activities to develop advanced materials, which could find applications in several end-use industries in order to secure better market position.
Report Spotlights
- Progressive industry trends in the South and Central America Decorative Paints market to help players develop effective long-term strategies
- Business growth strategies adopted by developed and developing markets
- Quantitative analysis of the market from 2017 to 2027
- Estimation of the demand for Decorative Paints across various distribution channel
- PEST analysis to illustrate the efficacy of buyers and suppliers operating in the industry to predict market growth
- Recent developments to understand the competitive market scenario and the demand for Decorative Paints
- Market trends and outlook coupled with factors driving and restraining the market growth
- Decision-making process by understanding strategies that underpin commercial interest with regard to the market growth
- South and Central America Decorative Paints market size at various nodes of market
- Detailed overview and segmentation of the market as well as its dynamics in the industry
- Decorative Paints market size in various regions with promising growth opportunities
South and Central America Decorative Paints Market – by Type
- Water Based
- Solvent Based
South and Central America Decorative Paints Market – by Application
- Residential
- Non-Residential
Company Profiles
- Acuario Paints
- BASF SE
- The Sherwin-Williams Company
- Akzo Nobel N.V
- Dow Inc.
- PPG Industries, Inc
- Jotun
- RPM International, Inc.
- Sinteplast
- Hempel A/S
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type and Application
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Brazil, Argentina
The List of Companies - South and Central America Decorative Paints Market
- Acuario Paints
- BASF SE
- The Sherwin-Williams Company
- Akzo Nobel N.V
- Dow Inc.
- PPG Industries, Inc
- Jotun
- RPM International, Inc.
- Sinteplast
- Hempel A/S
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Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
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- 3.1 Macro-Economic Factor Analysis:
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