- The key vendors in the Global Decorative Paints and Coatings Market 2015-2019 are AkzoNobel NV, BASF SE, PPG Industries Inc. and The Sherwin-Williams Co.
London, 25 November 2014: TechNavio, an independent tech-focused global research firm, has announced the publication of its market research report on the Global Decorative Paints and Coatings Market 2015-2019. Advances in technology and the emergence of new manufacturing technologies have the potential to open up new growth avenues in the market. Vendors have developed weather-resistant paints that protect buildings from wear and tear. They have also developed heat-resistant paints, which are in high demand in the market. The Global Decorative Paints and Coatings market is expected to grow at a CAGR of 5.76 percent during the period 2014-2019.
The demand for and adoption of decorative paints and coatings are expected to increase in the next few years because of an increase in civil construction activities across the globe and increased investment in maintenance activities such as regular repainting of existing buildings. The market is expected to grow significantly during the forecast period primarily because of increased demand from the APAC region and a rise in the global demand for decorative paints with functional benefits. Increased urbanization in emerging nations is also contributing to the growing demand for decorative paints and coatings.
“New developments in technology and the need for sustainability have resulted in the invention of eco-friendly paints that have lower VOC emissions and lower lead and mercury levels,” says Faisal Ghaus, Vice President of TechNavio Research.
“There is growing competition among companies in the industry to provide better quality housing with more features and facilities.”
To define the market conditions in the next 3-4 years, TechNavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
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