Decorative coatings or architectural
coatings are the finishes and paints that are applied on commercial and
residential buildings. They are mainly used to add colors to the room and make
them attractive and fresh and to serve as protection from moisture, corrosion,
bacteria and UV radiation. The decorative coatings have various applications such
as interior and exterior house paints, primers, sealers, varnishes and stains.
In recent years the beauty of products in terms of looks and appearance and its
aesthetical Values are important in making the product stand out of the other
products. Based on the type of architectural coating the market can be
segmented into exterior water based coatings, interior water based coatings,
exterior solvent based coatings, interior solvent based coatings, architectural
lacquers and other architectural coatings.
To
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In 2012, architectural coatings
dominated the global coatings market, accounted for the single largest share in
value terms. The mushrooming of office buildings, housing complexes and
shopping malls all over the world drive the growth of decorative coatings
market. The decorative coating market is driven by high investments and growth
in construction and furniture sector. The growing consumer interest in
aesthetics and home decoration and the improving standards of living are
fueling the demand for architectural coatings. The market share of decorative
coatings in the overall coatings market increased as compared to other
segments. In the emerging economies consumers are becoming increasingly
westernized in terms of increased living standard, while the recession still
shows an impact in many developed western economies, where the growth rates of
the market have declined. In emerging markets, the large chunk of consumers are
becoming price sensitive, forcing the manufacturers to focus on innovative and
customized products.
Some of the major challenges faced
by the decorative coatings industry is the stringent regulations regarding the
usage of toxic chemicals in coatings and has forced decorative paint
formulators to seek for environmentally friendly and innovative solutions.
Various factors such as the environment regulations, health and wellness
concern, technology and convenience, are playing an increasingly important role
in the global decorative coatings market. The growing end-users awareness of the
advantages of reduced volatile organic compounds (VOC) emissions has hasten the
consumption of water-based decorative coatings and are expected to replace
solvent-based products in interior applications. Some of the key players
in this market include Akzo Nobel NV, PPG, Dulux, Dow Chemical,
Sherwin-Williams, BASF and DuPont etc.
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