Decorative Coating Market Regional Analysis

What Makes Asia Pacific a Leader in Decorative Coating?

The presence of a steady population, especially a middle-class income population, is what allows Asia Pacific to emerge as a key revenue generator on a global level. Rising disposable income of people in this region, along with increase in industrialization and urbanization is prompting the use of decorative coatings across residential, industrial and commercial applications and cementing the dominance of this region. Major infrastructure projects, such as residential complexes and commercial buildings are being sanctioned across countries like India, Singapore, UAE and are also contributing greatly to the market's growth.

Japan Decorative Coating Market

Japan is slated to emerge as a highly opportune country for Decorative Coating providers owing to the presence of a full-fledged construction and renovation sector which in turn is owed to the country being prone to natural calamities causing their need. The growing trend in the country to blend traditional Japanese home styles with Western structures has arisen the need for decorative coatings to provide that aspired finish. Thus, as Japan continues its investment on infrastructure, decorative coatings are sure to find their use in the country.

• The 2024 Noto earthquake had damaged over 80,000 homes in Japan requiring their renovation and creating a huge scope for decorative coating products.

China Decorative Coating Market

A huge population with majority belonging to the middle class group is expected to help this country boost decorative coating adoption in the long run. The continuous growth of urbanization and steady rise of real estate projects in the country along with its position as one of the key leaders in the architectural coatings market ensures that the country observes a demand for decorative coatings.

• In 2023, AkzoNobel, in order to strengthen its market position in China, acquired Sherwin-Williams' Chinese Decorative Paints business. This shows the importance of Chinese market to international players and major companies.

India Decorative Coating Market

Growing disposable income among the Indian population, rapid development of infrastructure, and increasing urbanization is creating a demand for decorative coating solutions in India. Many regional players like Starshield Technologies Private Limited, have found their bearings in the market hugely credited to the government’s “make in India” initiative and increased infrastructure spending in the country. The increase in the number of greenfield and brownfield projects across the country is also expected to expand the application scope of decorative coating offerings in the country.

• In 2024, AkzoNobel, sales of residential properties in India had increased by over 30% with approximately 500,000 homes developed by the end of the year. This indicates the potential of using decorative coatings in these homes in India.

Why is North America Seen as a Highly Opportune Region?

The North America region is estimated to emerge as the fastest growing market for decorative coating companies in the world. Growing investments in infrastructure development both at residential and commercial fronts, high popularity of aesthetics for personal spaces, and growing focus on sustainability are slated to help this region generate new opportunities. Both U.S. and Canada are slated to be top countries in this region and globally owing to growing demand by its population for decorative coatings in order to appeal to their aesthetic tastes.

United States Decorative Coating Market

The United States is slated to be the most opportune country in this region owing to the increase in home renovations and also new construction projects in the region. The nation’s citizen’s growing look out for low VOC and eco-friendly decorative coatings are further helping boost revenue generation in the United States.

• In 2024, PPG sold its U.S. and Canada architectural coatings business to American Industrial Partners. This reflects the ever changing dynamics of the decorative coatings market in the country.

Canada Decorative Coating Market

Canada is also to emerge as a highly rewarding market for Decorative Coating companies as investments on both residential and commercial projects picks up pace. Urban hubs like Toronto, Vancouver and Montreal are witnessing an increase in decorative coating usage for renovation and new projects and is therefore offering new business scope for companies.

• In 2024, 49% Canadians were involved in home renovation projects. These people are willing to spend for more aesthetic and value adding improvements. This trends positions decorative coatings to be at a positive market position.