New Delhi: The global decorative paints market is set for steady expansion through 2036, increasing in value by more than 60% over the next decade, according to a latest industry forecast.
Decorative paints — including interior and exterior coatings applied in residential, commercial and institutional buildings — are evolving beyond traditional colour solutions into engineered surface finishes focused on durability, indoor air quality and aesthetic appeal.
Market Outlook and Drivers
• Strong Growth Trajectory: The market is valued at about USD 73.9 billion in 2026 and is projected to reach around USD 121.5 billion by 2036 at a 5.1% CAGR, supported by new construction and renovation projects globally.
• Asia Pacific Momentum: Asia Pacific is the fastest-growing region, driven by rapid urbanisation, affordable housing projects, smart city initiatives and expanding middle-class spending on home refurbishment — with China and India emerging as pivotal drivers of demand.
• Shift to Eco-friendly Coatings: Regulatory tightening on volatile organic compounds (VOCs) has accelerated reformulation towards water-based, low-VOC and zero-emission decorative paints, which deliver improved indoor air quality and environmental performance.
• Product Innovation: Water-based paints and emulsion formulations account for significant market share due to superior washability, colour retention and environmental compliance, while smart coatings and AI-enabled colour tools are emerging differentiators.
Industry Trends and Competitive Dynamics
Manufacturers are investing heavily in sustainable paint systems, digital colour visualisation tools and speciality finishes to meet evolving customer preferences and tighter global air-quality standards. Innovation is increasingly a key battleground, with advances in bio-based resins, antimicrobial and self-cleaning coatings gaining traction in both new builds and retrofit projects.
The sector remains competitive, with global architectural coatings leaders and regional players vying on formulation expertise, eco-credentials and distribution reach. Consolidation, strategic partnerships, and capacity expansion in emerging markets continue to shape the competitive landscape.
With rapid urbanisation, rising disposable incomes and a growing focus on home design and sustainability, the decorative paints market is poised for resilient long-term growth, reflecting both construction cycles and lifestyle trends.