The Decorative Coatings Market size is projected to grow from USD 82.0 billion in 2022 to USD 98.9 billion by 2027, at a CAGR of 3.8%. The decorative coating market is divided into five key regions: North America, Europe, Asia Pacific, the Middle East & Africa, and South America. China and India, among other countries, are leading the decorative coatings market globally. The market in Asia Pacific is witnessing high growth, which is expected to continue because of increasing residential construction and improved home remodeling practices.

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The leading global companies are shifting their production base, establishing sales offices, and enhancing distribution channels to regions, including Asia Pacific, which offer a sustained demand. The gradual shift of manufacturing facilities to countries with high demand and lower production costs positively influences the market's growth. The key producers control a major share of the total global market. As a result, there is severe competitive pressure on architectural coating producers to reduce the price of decorative coatings to gain market share at the expense of other competitors. Furthermore, regulatory standards regarding solvent usage and VOC emissions are crucial parameters to be considered by architectural coating suppliers.

Asia Pacific is a rapidly developing region that offers opportunities for various industry players. Most of the leading players in North America and Europe are planning to move their production bases to this region because of the availability of inexpensive raw materials, low production costs, and the need to serve the local markets better. The demand for premium products is increasing in the region due to the growth of the middle-class population. Government initiatives are also helping the growth of the building and construction industry. These factors are expected to play an important role in driving the decorative coatings market.