Indonesia decorative paints market to be driven by growing construction activities through 2028.
Increasing government investments on infrastructure and
rising demand for green manufacturing are expected to drive the optical fiber
cables market during the forecast period, 2024- 2028 across India.
According
to TechSci Research report, “Indonesia Decorative Paints Market - By Region,
Competition, Forecast & Opportunities, 2018-2028F”, the Indonesia Decorative
Paints market is expected to register robust growth during the forecast period,
2024-2028. Growing urbanization and the significant importance placed by the government
on infrastructure are two key reasons behind this likely growth. Indonesia's urbanization
rate is expected to increase from 55% in 2019 to 62% in 2030. This growth in urbanization
will lead to a greater demand for housing and offices, retail spaces, and other
services catering to the new consumers. The greater demand for construction
services come from the middle and upper class and the urban poor. The
Indonesian government launched the One Million Houses program to decrease the
urban housing backlog for the poor. So far, three million housing units have
been built under this program. The Indonesian government has also planned to
spend over USD 412 billion between 2020 and 2024 to build airports, power plants,
and other infrastructure to decentralize Indonesia's growth beyond Java.
The Indonesian government is also planning to spend nearly USD 40 billon on new
metro railway lines for the Jakarta region, which will boost decorative paints
demand. Additionally, the plans to build a new national capital in East
Kalimantan, costing USD 400 billion, will also create a huge opportunity for
the Indonesia decorative paints market. The property sector is still considered
the primary growth driver of Indonesian decorative sales in the last ten years.
The high demand for new housing and the repainting cycle assures a steady
demand for decorative paints.
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Figures spread through XX Pages and an in-depth TOC on the "Indonesia Decorative Paints Market”
Indonesia Decorative Paints market is segmented into resin type,
technology, coating type, user type, product type, application and region.
Based on resin type, the market is segmented into acrylic resin, alkyd resin,
vinyl resin, polyurethane resin, and others. Based on technology, the market is
further segmented into waterborne coatings, solvent borne coatings, and powder
coatings. Based on coating type, the market is segmented into interior,
exterior and others. Based on user type, the market is further segmented into DIY
(Do it Yourself) and professional. Based on product type, the market is
segmented into emulsions, wood coatings, enamels and others. Based on
application, the market is further split into residential and non-residential.
Based on region, the market is further divided into Java, Sumatra, Kalimantan,
Sulawesi, and Others.
Based on resin
type, polyurethane resin is expected to dominate in Indonesia decorative paints
market because of their highly versatile chemistry, superior properties such as
toughness, resistance to abrasion and chemicals, hardness with flexibility and adhesion
capability to all sorts of substrates. Moreover, polyurethane resin finishes
combined with epoxy primers essentially creates a smooth protective barrier on
any surface they are applied to. This barrier is virtually impenetrable to
atmospheric elements such as moisture, salts, and ultra-violet light, so it
keeps weathering elements away from the material it is coating. Furthermore, it
is one of the most widely used coating materials in all manner of construction
including sealants, adhesives and coatings.
Based on
technology, waterborne coating is expected to dominate in Indonesia decorative
paints market because water is utilized in waterborne coatings as a solvent to
distribute a resin, making them user-friendly and environmentally beneficial.
Water makes up to 80% of waterborne coatings, with traces of other solvents
such as glycol ethers. Waterborne coatings also provide a lot of advantages such
as their great heat and abrasion resistance, excellent adhesion, low toxicity
and flammability due to low VOC levels and HAP emissions, and the fact that
they don't require any additives, thinners, or hardeners, they frequently cost
less than solvent-borne coatings.
Based on
application, residential is expected to dominate in Indonesia decorative paints
market because residential application basically includes painting of the
interiors as well as exteriors of houses or residences. Decorative paints are
used for residences purposes as it provides an esthetic appeal to the walls and
other surfaces and helps enhance the appeal. The residential sector in
Indonesia is growing as there is an increase housing initiatives and schemes
such as Indonesia's National Affordable Housing Program, has led to an increase
in the demand for decorating paints for residential purposes.
Based on region, Java
is expected to dominate in Indonesia decorative paints market because a large
majority of Indonesian paint manufacturers are concentrated on the western side
of Java Island.
Key market
players in the Indonesia Decorative Paints market include:
- Akzo Nobel N.V.
- Nippon Paint
Holdings Co
- Jotun Group
- PT Kansai Prakarsa
Coatings
- PT Putramataram
Coating International
- Sutindo Anugerah
Sejahtera
- PT Asian Paints
Indonesia
- The
Sherwin-Williams Company
- Axalta Coating
Systems
- PT Propan
Industrial Coating Chemicals
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“Indonesia has been among the fastest growing decorative
paints markets in recent years on account of huge population, high urbanization
and a rapidly growing middle class. Moreover, the improving standard of living,
and growing interest of customers toward improving the aesthetic appeal of
their homes and residential buildings have led to increasing demand of
decorative paints.” said Mr. Karan Chechi,
Research Director with TechSci Research, a research-based global management
consulting firm.
Indonesia
Decorative Paints Market By Resin Type (Acrylic Resin, Alkyd Resin, Vinyl
Resin, Polyurethane Resin, Others), By Technology (Waterborne Coatings, Solvent
borne Coatings, Powder Coatings), By Coating Type (Interior, Exterior, Others),
By User Type (Diy, Professional), By Product Type (Emulsions, Wood Coatings,
Enamels, Others), By Application (Residential, Non-Residential), By Region,
Competition, Forecast & Opportunities, 2028F has assessed the Indonesia Decorative
Paints market's future development potential and provides data and information
on market size, structure, and projected market growth. The report's goal is to
give current market knowledge and assist decision makers in making informed
investment decisions. Furthermore, the study identifies and analyses emerging trends,
as well as key drivers, constraints, and opportunities in the Indonesia
Decorative Paints market.
Contact
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