Decorative Coatings Market

PPG (US) and Sherwin-Williams (US) are Leading Players in the Decorative Coatings Market

The decorative paints & coatings market is projected to grow from USD 67.0 billion in 2019 to USD 82.4 billion by 2024, at a CAGR of 4.2% between 2019 and 2024. APAC is the largest consumer of decorative paints and coatings. The decorative paints and coatings are witnessing high demand from various new constructions, and remodeling and repaint activities in APAC.

The key players operating in the market are PPG Industries, Inc. (US), Akzo Nobel N.V. (Netherlands), The Sherwin-Williams Company (US), Kansai Paints Co., Ltd. (Japan), Asian Paints Limited (India), and Nippon Paint Holdings Co., Ltd. (Japan). These players have adopted various strategies, such as merger & acquisition, investment & expansion, new product launch, and partnership & agreement to grow in the market. Merger & acquisition was the key strategy adopted by the major players between 2015 and 2019. This strategy accounted for a major share amongst all the growth strategies adopted by key market players and helped companies enhance their foothold and global presence.

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PPG (US), which is headquartered in Pennsylvania (US), is dominating the global decorative paints & coatings market. This position is achieved by the company after many successful small and big acquisition and expansion activities. The major acquisition done by the company was of DEUTEK S.A., a leading Romanian paint and architectural coating manufacturer, from Emerging European Accession Fund (EEAF) in January 2017. This strategy provided the company an opportunity to expand in Europe and is expected to boost the growth in the emerging regions of Eastern Europe in the near future. The company should now focus more on product innovation, differentiation, and brand awareness activities to compete and maintain its dominating position in the decorative paints & coatings market.

Sherwin-Williams (US) is a diversified chemical company founded in 1866 and headquartered in Ohio (US). The company comprises three business segments, namely, The Americas Group, Consumer Brand Group, and Performance Coatings Group. It has a strong customer base and operates in several countries of Europe, North America, and APAC. In June 2017, Sherwin-Williams completed the acquisition of the Valspar Corporation, a Minneapolis-based global paints & coatings company, for about USD 11.3 billion. The Valspar’s range of products are sold under the business segment of Consumer Brand Group.

Related Reports:

Decorative Coatings Market by Resin Type (Acrylic, Alkyd), Technology (Waterborne, Solventborne, Powder), User Type (DIY, Professional), Coating Type (Interior, Exterior), Application (Residential, Non-Residential), and Region - Global Forecast to 2024

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Report Code
CH 5214
RI Published ON
1/13/2020
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