The global decorative coatings market by revenue is expected to grow at a CAGR of over 5% during 2021-2026.The introduction of anti-microbial coatings is expected to boost the global decorative paints market growth.
Due to the outbreak of the COVID-19 pandemic and the growth of healthcare-associated infections , the importance of anti-microbial decorative coating has grown significantly.
However, the global market suffered a downfall during the COVID-19 crisis as major revenue-contributing end-users such as construction, commercial renovation, infrastructure development, and home improvement activities witnessed a halt, especially during Q1 Q2 2020.Global Decorative Coatings Market SegmentationThe global decorative coatings market research report includes a detailed segmentation by resin type, formation, product, end-user, surface type, geography.
Increasing government initiatives to construct commercial and industrial infrastructure in emerging countries will offer acrylic coatings manufacturers opportunities.
Low labor costs, inexpensive raw materials, growing population, increased infrastructure investments, rising construction activities, and rapid urbanization are expected to boost the market during the forecast period.
India is expected to dominate the market due to expanding the construction sector with increasing government and private spending on commercial and residential constructions.
Vendors are expanding their businesses via a profitable partnership or acquiring small or medium-sized active vendors, whereas domestic vendors are capitalizing with product portfolios based on the requirement.