Global Decorative Paints Market: Overview
The demand within the global market for decorative paints has been rising at a stellar rate in recent times, majorly due to the skyrocketing advancements in the field of visual arts. Decorative paints, in essence, are acrylic paints use by artists to create wall-paintings and other artistic pieces. The use of decorative paints has been growing in recent times as several movements to promote art and artists have gathered swing. It is also true that the contemporary-day artists are receiving voluminous funds from renowned investors and organisations. The entire world has become sensitive to visual art forms, and hence, paintings, wall art, and street graffiti have regained popularity. Owing to these factors, the global market for decorative paints is projected to expand at a stellar rate in the years to come. Furthermore, the quest of artists to bring their craft to light and elucidate the momentous impact of art has also propelled demand within the global market for decorative paints. This market is projected to receive huge-scale investments from well-reckoned entities in the years to come.
The global market for decorative paints may be segmented on the basis of the following parameters: product type. Price, formulations, application, sales channel, and region. Since the global decorative paints market is related to the field of visual arts, the aforementioned segments hold utmost significance from the perspective of market analysis.
A report added by Transparency Market Research (TMR) on the global market for decorative paints gives a clear view of the forces that have propelled market demand in recent times. Furthermore, the report also gives a futuristic perspective on the global decorative paints market, and builds on various factors that are expected to influence market demand.
Global Decorative Paints Market: Trends and Opportunities
The demand within the global market for decorative paints has increased on account of the use of these paints in homes, offices, and other spaces. The aesthetic appeal of walls and other surfaces can be enhanced by coating them with decorative paints, and this factor is at the forefront of market growth. Furthermore, the number of art galleries and studios has increased in recent times, majorly due to a renaissance of art forms in the contemporary scenario. This propensity is also expected to reek of growth within the global market for decorative paints. Other areas wherein decorative paints have become useful include art institutions, homes, complexes, and places of visit. It is projected that the global market for decorative paints would keep attracting new customers in the forthcoming years.
Global Decorative Paints Market: Market Potential
The use of decorative paints to paint large portions of commercial and residential buildings shall provide lucrative growth opportunities within the global decorative paints market. Furthermore, availability of decorative paints that can help in heat transfer has gained popularity in colder regions. This is another key standpoint that is projected to propel demand within the global decorative paints market
Global Decorative Paints Market: Regional Dynamics
The demand within the market for decorative paints in North America has risen at a robust rate in recent times. This owes to the presence of world-renowned artists across the US, and the promotion of art guilds in New York. The market for decorative paints in Europe has risen account of the historic significance of art forms in several EU nations.
Global Decorative Paints Market: Competitive Landscape
Some of the key players in the global decorative paints market are The Sherwin-Williams Company, Asian Paints, PPG Industries Inc., BASF SE, and Nipsea Group (Nippon Paints).
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.