One major part of design and decorating is color. Whether you are putting together a new room or deciding what kind of new floor to put in a space, color always comes into play.

Did you know that major paint companies and other brands select not only a 'Color of the Year' but entire palettes? If you are looking to try a new hue in your home this year, here is some inspiration.

Known as the expert in color, Pantone announces a color of the year each December for the following calender. 2015's color is Marsala, described by Pantone as a naturally robust and earthy wine red.

With all of the black, white and gray in interiors these days, Marsala could be a nice, rich compliment. What do you think of it? Maybe you'll try it on some accessories?

Benjamin Moore Paints also picks color trends of the year, with a highlighted color of the year, this one being Guilford Green HC-116. While this one is a lot more subtle than Marsala, it can work as a great neutral that has some color to it. Is Guilford Green the color for you?

Benjamin Moore describes it as a silvery green that works with everything.

I think paint company Sherwin Williams' pick is my favorite. Coral Reef SW 6606 came out on top as their choice for 2015. They describe it as an upbeat and optimistic...a vivacious hue.

And I do agree. Of the three, I think this would be the one I'll try in my home this year.

But we can't forget about Better Homes and Gardens Color Palette of 2015. This is only BHG's second color palette of the year, which they describe as bold, tropical hues with sophisticated neutrals. The 'Bold Adventure' they've selected is an exciting collection of colors.