New Report Released on Decorative Coatings Market

Research and Markets has released a new market report titled, Decorative Paints and Coatings: Global Strategic Business Report. According to the report, the global market for Decorative Paints and Coatings, estimated at $71.7 billion in the year 2020, is projected to reach a revised size of $97 billion by 2027, growing at a CAGR of 4.4% over the analysis period 2020-2027.

Acrylic Segment

Acrylic, one of the segments analyzed in the report, is projected to record a 4.9% CAGR and reach $40.6 billion by the end of the analysis period. Taking into account the ongoing post-pandemic recovery, growth in the alkyd segment is readjusted to a revised 4% CAGR for the next seven-year period.

The decorative paints and coatings market in the United States is estimated at $19.5 billion in the year 2020. China, the world's second largest economy, is forecast to reach a projected market size of $19.8 billion by the year 2027, trailing a CAGR of 7.4% over the analysis period 2020 to 2027.

Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.4% and 3.5% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 3.1% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach $12.8 billion by the year 2027.

Vinyl Segment

In the global vinyl segment, the United States, Canada, Japan, China, and Europe will drive the 3.6% CAGR estimated for this segment. These regional markets, accounting for a combined market size of $7.6 billion in the year 2020, will reach a projected size of $9.6 billion by the close of the analysis period.

China will remain among the fastest growing in this cluster of regional markets. Latin America will expand at a 3.9% CAGR through the analysis period.

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