North America Decorative Paints Market

Market Introduction

The North America region includes developed economies such as the US, Canada, and Mexico. Decorative Paints are utilized in numerous applications such as in construction activities, architectural industry, and automotive industry. Many domestic and international construction companies have a strong foothold in North American. Moreover, rapid growth in the infrastructure industry in developed countries such as the US and Canada is expected to boost the decorative paints market in the upcoming years. The construction companies operating in the region are continuously enhancing the overall business processes to meet the rising customers' demands in the best possible way by adopting advanced technology and by implementing improved operating standards. The US has invested in the up-gradation of infrastructure which is going to drive the decorative paints market. The construction industry in North America has been developing in response to rapid household formation in Mexico and growing residential construction across the United States. In addition, the construction spending on the private sector in North America is exhibiting healthy growth since the near past, which, in turn, is driving the demand for architectural paints in the region. Therefore, all the factors mentioned above are anticipated to boost the North American paints market in the architectural industry during the forecast period. Furthermore, since industries are undergoing a shift given to the ‘go-green movement- to reduce carbon footprint, water-based paints have witnessed increased adoption across North America. Therefore, the water-based paint segment is expected to witness increased adoption in the coming years as compared to the solvent based paint segment in the North American decorative paints market as key players continue to reduce the emission of volatile organic compounds (VOCs) in paints to meet the government regulations and consumer preferences.

The US has the highest number of confirmed cases of COVID-19, as, compared to Mexico and Canada. This is likely to impact the chemicals & materials industry in the region as, due to the COVID-19, the supply chain is likely to get affected. In addition, the overall manufacturing processes, research, and development activities will also impact market growth. In US the buildings, automobile, and architectural industries, as well as the chemical and materials companies which work along with them, have been hit hard by the corona virus due to the travel restrictions as well as maintenance of social distancing. With the outbreak of Coronavirus disease (COVID-19) has acted as a significant restraint on the decorative paints market in 2020 as supply chains were disrupted due to trade restrictions and consumption declined due to lockdowns imposed by governments in the region.

North America Decorative Paints Strategic Insights

Strategic insights for the North America Decorative Paints provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

North America Decorative Paints Report Scope

North America Decorative Paints Regional Insights

The geographic scope of the North America Decorative Paints refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.

The decorative paints market in North America is expected to grow to US$ 26,372.42 million by 2028 from US$ 16,494.79 million in 2020. The market is estimated to grow at a CAGR of 6.0% from 2020 to 2028.  Sustainability has become significant parameter in the advanced manufacturing set-up industry. The increased focus towards environment along with introduction of improved and sustainable form of materials has often been associated with the growth of the market. In paints industry, the potential use of sustainable and environment friendly form of paints is rising tremendously. This has a positive impact on the demand for decorative paints. The use of lead free and minimal Volatile Emission Control based decorative or architectural paints is rising for commercial and residential application bases. To embrace the rising concept, several manufacturers have entered into eco-friendly polymers which can be used in production of decorative paints business. For instance, manufacturers such as Croda International Plc. is involved in providing sustainable ingredients to be deployed in decorative paints so as to promote the trend towards more environmentally friendliness, supported by legislation and consumers. The demand for ecofriendly paints is rising ubiquitously with the growing focus upon enhancing the indoor air quality along with strong durability. The surge in demand for low VOC paints in architectural and decorative paints industry is promoted by rising investment in residential and commercial construction activities with stringent government regulations. Besides low and zero VOC based paints, focus is made to develop paints using natural raw materials such as water, plant based oils, raisins, dyes and essential oils which do not impact environment and human health. Thus, all such trends are expected to promote the growth of the market in region.

Key Market Segments

North America decorative paints market is segmented based on type and application. The North America decorative paints market based on type is segmented into water based and solvent based. Water based segment accounted for the highest share in the market in 2019 and is expected to be fastest growing during forecast period. Based on application, is segmented into residential and non-residential. Residential segment accounted for the highest share in 2019 and non-residential segment is expected to be the fastest growing during forecast period.

Major Sources and Companies Listed

A few major primary and secondary sources referred to for preparing this report on decorative paints market in North America are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Akzo Nobel N.V.; BASF SE; Dow Inc.; Axalta Coating Systems; PPG Industries Inc.; RPM International Inc.; Kansai; and The Sherwin-Williams among others.

Reasons to buy report

• Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the North America decorative paints market
• Highlights key business priorities in order to assist companies to realign their business strategies
• The key findings and recommendations highlight crucial progressive industry trends in North America decorative paints market, thereby allowing players across the value chain to develop effective long-term strategies
• Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
• Scrutinize in-depth North America market trends and outlook coupled with the factors driving the decorative paints market as well as those hindering it
• Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution  

NORTH AMERICA DECORATIVE PAINTS MARKET SEGMENTATION

North America Decorative Paints Market – Type

• Water based
• Solvent based

North America Decorative Paints Market – By Application

• Residential
• Non-Residential

North America Decorative Paints Market – By Country

• US
• Canada
• Mexico 

North America Decorative Paints Market Company Profiles

• Akzo Nobel N.V.                                                     
• BASF SE                                                                     
• The Sherwin-Williams Company                           
• Dow Inc.                                                                   
• PPG Industries, Inc.                                                 
• RPM International, Inc.                                          
• Axalta Coatings Systems                                         
• Kansai