Texture Paint Market

Texture Paint Market Size (2023-2028)

The Texture Paint Market was around USD 14.10 Billion by revenue, at the end of 2022 and is anticipated to grow at a CAGR of 7.95 % to reach close to USD 18.59 Billion by the end of 2028.

Texture Paint Market Drivers and Restraints:

New technologies and innovations are expected to stimulate demand for textured paints in the construction industry. The creation of new businesses and the expansion of several existing businesses entail the need to construct new industrial and commercial buildings, as well as to renovate existing structures. The high aesthetic worth of texture paints and their affordability is the driving force behind the worldwide texture paint industry. This, coupled with the growth of interior design and the growing demand for home interiors, should drive the growth of the texture paint market. Textured paints have certainly stood out in today's home décor segment. The unmatched visuals that can be created using texture paints offset its high cost compared to ordinary paints. Growing demand from end-use industries such as construction and construction is driving growth in the global textured paint market. Also, the increase in the use of textured paint for interior decoration of homes and the increase in demand for paint, and the repainting of residential structures are the key factors that should stimulate growth in the global textured paint market.

Population growth improved living standards, and increased homeownership are other factors that are expected to increase growth in the global textured paint market. Increasing household purchasing power in home improvement should have a positive impact on the market during the forecast period. The primary aesthetic value of texture paints, as well as their affordability, fosters the global market. This, coupled with the addition in interior design and the growing demand for home interiors, should drive market growth. The high disposable income and the growing need for housing development are important factors that should stimulate the growth of the world market for textured paints. Furthermore, rapid urbanization and growing demand for housing are among other factors that should support the growth of the world market.

The high cost of texture paint compared to conventional paint is expected to slow the growth of the global texture paint market. The high price compared to conventional paints is a key factor that should hinder the growth of the global market for these paints. Additionally, texture paints require more time and skilled labor for effective application, which can also limit product demand to some degree.

Opportunities in the Texture Paint Market:

Texture paints enhance the benefit of covering uneven surfaces and protecting the wall surface from damage. Not only that, texture paints are priced comparable to wallpaper and offer a wide range of patterns that can be created using a mix of different colors. Therefore, the aesthetic and functional value associated with these paints should stimulate the market for textured paints in the future. The expansion of the construction and construction industry in developing countries like India and China should provide lucrative opportunities for the growth of the global textured paint market. Intensive construction and reconstruction of residential and non-residential buildings translate into increased demand for paint and siding products, which in turn is expected to drive growth in the world market during the forecast period. Furthermore, government policies favorable to economic growth in developing countries are leading to an increase in architectural construction and industrial activities, which is anticipated to accelerate the expansion of the global texture paint market in the coming days.

Challenges in the Texture Paint Market

Textured paint requires skilled labor and more application time than conventional paint, which can hinder the demand for the textured paint market in the following years.

TEXTURE PAINT MARKET REPORT COVERAGE

Market Segmentation

Texture Paint Market - By Product Type

• Interior

• Exterior

The interior texture paint sector is predicted to be the biggest product type in the global business. The increasing use of texture paints for home interior decoration is among the most important factors that should stimulate the growth of the interior texture paint segment. Improving living standards and infrastructure development in emerging economies are additional factors that are expected to stimulate demand for interior textured paints in the forecast period. Improving living standards, infrastructure developments and the increasing use of textured paints for the interior decoration of houses raises the domestic market.

Texture Paint Market - By Application

• Residential
• Non-residential

The non-residential segment is determined to record the most substantial portion of the global texture paint market because of the rising consumer awareness about the benefits of reconstruction.

Texture Paint Market - By Region

• North America

• Latin America

• Europe

• Asia Pacific

• Middle East & Africa

Among the globally segmented regions, the Asia Pacific region is anticipated to be the fastest-growing region during the forecast period owing to regional characteristics such as cheap labor and ease of resource availability. This is the reason for the concentration of the majority of key market participants manufacturing units in the Asia Pacific region. Also, the high scope of future opportunities in this region due to the fast-developing economies is another reason for the interest of these companies to invest in countries like India, China, and Japan.

North America is next in the lead for the global Texture Paint market followed by Europe. The large customer base and well-established industries in these regions is the main reason for the survival of the regional market over high competition globally. There is close competition between North America and Europe in the global texture paint market due to their regionally dominating companies. On the other hand, the Middle East & Africa, and Latin America regions, being in the low developing countries due to the contribution of low GDP countries, have fewer chances for industry growth. Hence, the Texture Paint Market in these regions is slow-growing in nature.

Recent Developments

As the times have come where each can now design their own customized house, the world has witnessed the evolution of different types of paint colors and textures. This inspires companies to come up with newer concepts of paints and textures. For instance, a grasscloth adds texture at the same time is eco-friendly to nature. Venetian plasters also add texture, elegance, and warmth to the room. Merely put the mood in a room can deeply be enhanced by the texture and type of walls.

Texture Paint Market Prominent Players listed in the market are:

• AkzoNobel N.V. (Netherlands)

• S K Kaken Co., Ltd. (Japan)

• Hempel A/S (Denmark)

• Spectra Texture Wall Coating Pvt. Ltd. (India)

• Kelly-Moore Paints (U.S.)

• Nippon Paint Holdings Co., Ltd. (Japan)

• PPG Industries, Inc. (US)

• Kansai Neroloac Paints Ltd. (India)

• Jotun A/S (Norway)

• Andura Coatings (UK)

• The Valspar Corporation. (U.S.)

• Berger Paints India Ltd. (India)