Global Decorative Paint Market Assessment, By Product Type [Water-based, Solvent-based], By Type [Primers, Distemper, Emulsions, Exterior Paints, Others], By Application [Exterior, Interior], By End-user [Residential, Non-residential], By Region, Opportunities and Forecast, 2018-2032F

Global Decorative Paint Market is projected to witness a CAGR of 5.38% during the forecast period 2025-2032, growing from USD 70.07 billion in 2025 to USD 106.52 billion in 2032. The vibrant force of increasing consumer interest in home improvement and aesthetic enhancement has transformed the global decorative paint market. Increased sensitivity of homeowners towards personalization of living spaces has also spurred the demand for decorative paints. Hence, their many variants have come into being, catering to all tastes and preferences. This market encompasses a wide range of offerings, such as interior and exterior paints, finishes, and specialty coatings that beautify surfaces and protect them against wear and environmental factors.

Apart from residential markets, the commercial sector is also contributing significantly to market growth. Businesses invest in creating attractive environments that reflect their brand identity in pursuit of aesthetic appeal, which fuels heightened demand for superior decorative paints. The introduction of eco-friendly formulations and advanced finishes captures the attention of environmentally conscious consumers, as these options do not compromise style in the name of sustainability. To address the growing demand from customers, companies are investing in enhancing their production capacities.

For instance, in July 2024, Asian Paints Limited announced plans to double production capacity at its Mysuru plant by investing around USD 150.1 Million. This will increase the capacity of the plant to 600,000 KL per annum, cementing Asian Paints’ position as the largest paint manufacturer in India. This strategic move is to meet the growing demand for decorative paints and enhance its overall production capacity to 2,150,000 KL per annum. This development shows the robust growth potential within the decorative paint market and underlines the importance of innovation and investment in meeting consumer needs.

Growing Focus on Urbanization and Sustainability are the Key Drivers in the Global Decorative Paint Market

The primary growth factor for the global decorative paint market is urbanization. With more people moving to the urban centers, demand for residential and commercial buildings increases, leading to a higher demand for decorative paints. According to a report by the World Health Organization (WHO), about 55 percent of the world's population had already resided in urban areas by 2020, and it is estimated to increase by about 68 percent by 2050. The trend has been significantly seen in developing countries where rapid urbanization is being experienced.

Most governments are spending more on developing infrastructures as a way of maintaining the increasing population in most countries. For example, India has the Minister of Housing and Urban Affairs, who has developed various initiatives to improve the infrastructure within the urban setup, including housing projects, which require decorative paints. Pradhan Mantri Awas Yojana is a scheme of the government of India that provides all with affordable housing, thereby promoting construction activities heavily. It has been observed that because of the increase in the number of new houses and the reconstruction of old ones, demand for decorative paints is increasing steadily.

For instance, in January 2025, AkzoNobel N.V. announced it would invest USD 22.89 million in developing its Montataire site in France as a global flagship for decorative paints, embracing sustainable practices and industrial excellence. This investment comes as the demand for eco-friendly products increases globally, making it a direction in the evolution of the paint industry. The growing emphasis on sustainability significantly increases the demand for bio-based decorative paints. Being derived from renewable resources, these paints have low or zero VOCs, which helps address environmental concerns and aligns with consumer preferences for healthier living.

Rising Urbanization and Housing Construction is Driving the Market Growth

Urbanization and housing construction are major factors that significantly contribute to the growth of the decorative paint market. With the growing number of people moving to cities, there is a greater need for residential and commercial spaces, which increases construction activities. The trend is supported by government initiatives in affordable housing and infrastructure development, especially in developing economies. Decorative paints play a vital role in the beautification of buildings, hence increasing consumer demand for interior and exterior beautification projects.

In July 2023, the Chinese government announced a comprehensive Five-Year Action Plan to implement a people-oriented new urbanization strategy. This strategy is aimed at settling rural migrants in cities by reforming the household registration system and improving housing and social security for migrant workers. Such measures are designed to address challenges related to urban growth while promoting balanced regional development.

This is expected to be a continuation of the increased demand for decorative paints in China as it pursues urban living through strategic initiatives. This also ties into more general trends related to housing development and consumer preference. As urbanization continues to shape lifestyles, homeowners are continually investing in home improvement projects that will drive further demand for decorative paints that keep pace with modern trends and personal tastes.

Dominance of Water-based Paint in Global Decorative Paint Market

Water-based paints are considered the dominant choice in the decorative paint market due to their eco-friendliness and compliance with strict environmental conservation regulations. They are favored for their minimal volatile organic compound (VOC) emissions, which contribute to improved air quality and reduced environmental impact. Water-based paints are primarily used on residential and commercial buildings and offer numerous beneficial properties, including faster drying times, durability, and ease of application on various surfaces. Advances in resin and pigment technologies further enhance the effectiveness of waterborne paints, positioning them as viable alternatives to traditional solvent-borne systems.

The increasing shift toward sustainability is accelerating the adoption of water-based paints, as both industries and consumers demand such products. Region-specific regulatory measures, particularly in Europe and North America, are further driving this transformation through bans on solvent-based coatings. Significant growth in demand for water-based paints is also observed in emerging markets in the Asia-Pacific region, fueled by rapid urbanization trends and infrastructure development.

In January 2023, Asian Paints, a leading paint company in India, was sanctioned USD 241.2 Million for establishing a new unit for water-based paints in Madhya Pradesh. It will have the capacity to manufacture 0.4 million kiloliters every year and has the latest equipment to produce environmentally friendly paints and intermediates. This strategic decision shows Asian Paints' emphasis on sustainability with the growing market for water-based decorative paints.

Asia-Pacific to Witness Highest Growth Rate

Asia-Pacific is projected to experience significant growth in the decorative paint market due to rapid urbanization and infrastructure development. Additionally, higher disposable incomes are increasing demand for various residential and commercial spaces. Growth is also facilitated by government initiatives through sustainable infrastructure projects and housing schemes in countries such as China and India. Moreover, the surging demand for green water-based coatings aligns with stricter environmental policies, promoting research and development in ready-mix decorative paints.

The shift in the region from unorganized to organized markets, along with an increase in interior decoration and renovation trends, is central to enhancing per capita paint consumption. Major players are significantly investing in the region to tap into its vast potential, driven by a growing middle-class population and evolving aesthetic preferences.

For instance, in April 2023, AkzoNobel N.V. announced that it would be acquiring Sherwin-Williams' Chinese Decorative Paints business to strengthen its presence in tier three to tier five cities across China. Acquiring the Chinese decorative paints business from Sherwin-Williams will help the company achieve its growth ambitions in tier three to tier five geographical areas in China.

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Future Market Scenario (2025 – 2032F)

• With more focus on the aesthetic attractiveness of interior home and business interiors, decorative paints are gaining increasing popularity. Higher demand for fashionable personal interior spaces creates interest in colors, textures, and finishes.
• The increasing environmental awareness among consumers is leading them to prefer environment-friendly decorative paints. Low or zero-VOC paints are gaining popularity as they are in line with sustainable living.
• The latest trend affecting the decorative paint market is the increasing number of people who wish to paint and decorate their homes themselves (DIY). As a result, there is a growing demand for ready-to-use products, such as pre-mixed colors and easy-to-apply textures
• Development of decorative paints featuring anti-bacterial coatings, self-cleaning properties, and increased durability. These innovations respond to the needs of modern consumers and add functionality beyond aesthetics.

Report Scope

“Decorative Paint Market Assessment, Opportunities and Forecast, 2018-2032F”, is a comprehensive report by Markets and Data, providing in-depth analysis and qualitative and quantitative assessment of the current state of global decorative paint market, industry dynamics, and challenges. The report includes market size, segmental shares, growth trends, opportunities, and forecasts between 2025 and 2032. Additionally, the report profiles the leading players in the industry, mentioning their respective market share, business models, competitive intelligence, etc.

Report Attribute	Details
Base Year of the Analysis	2024
Historical Period	2018-2023
Forecast Period	2025-2032
Projected Growth Rate	CAGR of 5.38% between 2025 and 2032
Revenue Forecast in 2032	USD 106.52 billion
Segments Covered	Product Type, Type, Application, End-user
Regions Covered	North America, Europe, South America, Asia-Pacific, Middle East and Africa
Key Companies Profile	AkzoNobel N.V., Nippon Paint Holdings Co., Ltd, Asian Paints Limited, Hempel A/S, DAW SE, Jotun A/S, Crown Paints Kenya PLC, PPG Industries, Inc., Kansai Paint Co., Ltd., Berger Paints India Limited., The Sherwin-Williams Company
Customization Scope	15% free report customization with purchase
Pricing and Purchase Options	Avail the customized purchase options to fulfill your precise research needs
Delivery Format	PDF and Excel through email (subject to the license purchased)

In the report, the global decorative paint market has been segmented into the following categories: 

• By Product Type
  • Water-based
  • Solvent-based
• By Type
  • Primers
  • Distemper
  • Emulsions
  • Exterior Paints
  • Others
• By Application
  • Exterior
  • Interior
• By End-user
  • Residential
  • Non-residential
• By Region
  • North America
  • Europe
  • Asia-Pacific
  • South America
  • Middle East and Africa

Key Players Landscape and Outlook

The global decorative paint market is highly competitive, with multiple key players operating in the field. These players are recognized for their innovative products and commitment to sustainability, important for fulfilling varied consumer needs in the global economy.

For instance, in January 2025, JSW Paints and Berger Paints planned to buy Akzo Nobel's decorative paints business in India. This follows a strategic review of Akzo Nobel's South Asian portfolio, where its Indian operations hold a 7% market share. JSW Paints plans to invest about USD 120 million over the next 3-5 years as a part of its growth strategy. That will happen through both organic and inorganic means. Berger Paints is also interested in the deal but emphasizes the need for a fair valuation. This "Mega Acquisition" race underlines increasing consolidation in the decorative paint industry and how India is increasingly an important component in the world scene.

Key Players Operating in Global Decorative Paint Market are:

• AkzoNobel N.V.
• Nippon Paint Holdings Co., Ltd
• Asian Paints Limited
• Hempel A/S
• DAW SE
• Jotun A/S
• Crown Paints Kenya PLC
• PPG Industries, Inc.
• Kansai Paint Co., Ltd.
• Berger Paints India Limited
• The Sherwin-Williams Company

Markets and Data’s reports answer the following questions:

• What is the current and future market size of the product/service in question globally or specifically to different countries?
• How are the markets divided into different product/service segments and the market size and growth of each segment?
• What is the market potential of different product segments and their investment case?
• How are the markets predicted to develop in the future and what factors will drive or inhibit growth?
• What is the business environment and regulatory landscape specific to the product/service?

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