Sales of Texture Paints Is Forecasted To Top With A CAGR Value of 8.9% By 2033; Amid Rising Demand for Environment-friendly Coatings
Rapidly increasing sales of texture paints are attributed to rising demand from the building and construction industry. The growing middle-class population is also expected to stimulate the demand for better interiors, with high usage of texture paints due to increased expenditure on construction activities
Dublin, March 10, 2023 (GLOBE NEWSWIRE) -- Fact.MR has provided detailed information about the price points of key manufacturers of texture paints positioned across regions, sales growth, production capacity, and speculative technological expansion, in the recently published report.
Fact.MR – A Market Research and Competitive Intelligence Provider: A substantial increase in the count of residential, as well as non-residential buildings, is bolstering the demand for attractive interiors, where the use of texture paints has gained prominence. The valuation of the global texture paints market is estimated at US$ 16.7 billion in 2023. The global market is forecasted to reach US$ 39.2 billion by the end of 2033, increasing at a noteworthy CAGR of 8.9% over the decade.
Texture paints are coarse grain and heavy consistency paints that consist of sand and gypsum with a water-thinned binder. They are utilized for creating a rough patterned effect on the walls. The growing use of texture paints in both non-residential and residential applications is estimated to generate lucrative opportunities for manufacturers over the coming years.
The paint industry is evolving constantly, intending to deliver functional and higher aesthetic value. Texture paints refer to the textured appearance and feel on the interior walls of a structure for a stylish look. They contain resins and additives to protect the texture even when the paint dries, which makes them different from normal paints.
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Growing demand for texture paints from numerous end-use industries, including building and construction, is driving growth opportunities in the target market. Increasing requirement for painting as well as repainting residential structures is bolstering the sales of texture paints. Improved standard of living, increasing home ownership, and rising per capita income are some additional factors that are contributing to market revenue growth.
However, the high price of texture paints compared to conventional paints is projected to limit their adoption to some extent. More time is required for the application of texture paints compared to traditional paints, which may adversely impact the sales of texture paints. A noticeable expansion of the building and construction market across developing countries, including India and others can provide lucrative opportunities for the growth of the target market in the coming 10 years.
Asia Pacific is estimated to dominate the global market owing to the rising demand for texture paints from the residential and commercial sectors. Rising sales of texture paints are also attributed to the constant increase in infrastructural projects along with growing per capita income in Asia Pacific.
Key Takeaways from Market Study
The global texture paints market is forecasted to reach a valuation of US$ 39.2 billion by the end of 2033.
Global demand for texture paints is set to increase at a CAGR of 8.9% during the forecast period ending 2033.
Sales of texture paints are estimated US$ 16.7 billion for 2023.
Demand for texture paints is estimated to expand at a CAGR of 8% from 2023 to 2033 in Canada.
The Asia Pacific region is forecasted to hold more than 46% of the total global market share by the end of 2033.
The residential segment held more than 46% market share in 2022.
Water-based texture paints accounted for 55.5% of global market revenue in 2022.
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Key Market Players
Distributors of texture paints are strengthening their supply chain management system to match consumers’ requirements and extend their reach around the world. Increased expenditure by manufacturers ensures the delivery of quality products and helps in maintaining product standards.
For instance :
Tnemec Cp. Inc., in October 2019, acquired Textured Coatings of America, Inc.’s assets. The acquisition strengthened the position of Tnemec as a global leader and provided assistance to meet consumer requirements.
Prominent Players
Andura Coatings
The ValsPar Corporation
Spectra Texture Wall Coating Pvt. Ltd.
Nippon Paint Holdings Co., Ltd.
Kansai Paint Co. Ltd.
Jotun A/S
Crown Paints Limited
Berger Paints India Limited
Segmentation of Texture Paints Industry Research
By Type :
Smooth Texture
Sand Texture
Orange Peel Texture
Popcorn Texture
Others
By Technology :
Water-based
Solvent-based
Others
By End Use :
Residential
Commercial
By Region :
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global texture paints market for the period of 2023 to 2033. The study divulges essential insights into the market based on type (smooth texture, sand texture, orange peel texture, popcorn texture, others), technology (water-based, solvent-based, others), and end use (residential, commercial), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and MEA).
Key Questions Covered in the Report
What is the projected valuation of the texture paints in 2023?
At what rate will the global texture paints market grow until 2033?
Which are the factors hampering the growth in the texture paints Industry?
Which region is expected to lead in the global texture paints market during 2023 to 2033?
Which are the factors driving the texture paints market during the forecast period?
What is the expected market value of the texture paints market during the forecast period?
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