The global texture paints market size stood at USD 12.33 billion in 2022. The market revenue is anticipated to rise from USD 12.86 billion in 2023 to USD 17.74 billion by 2030, registering a CAGR of 4.7% from 2023 to 2030.
The increasing need for specialized coatings to create a textured surface on walls or other surfaces is driving the demand for texture paints. They have different forms, including coarse, medium, or fine textures.
Surging demand for improving the aesthetic appeal of interior and exterior spaces is propelling the market growth.
Fortune Business Insights presents this information in their report titled “Texture Paints Market, 2024–2030.”
Texture Paints Market Segments
Increased Demand for Acrylic Resins due to their Versatile and Durable Properties Propelled Segment Growth
On the basis of resin type, the market is bifurcated into acrylic and others. The acrylic segment secured the larger texture paints market share. Increased demand for acrylic resins due to their versatile and durable properties is driving segment growth.
Rising Adoption of Water-based Technology due to Its Advantages Boosted Segment Growth
By technology, the market is classified into water-based and solvent-based. The water-based segment dominated the global market. The segment growth is attributed to its advantages, such as quick drying and easier application.
Rising Need for Interior Decoration to Fuel Segment Growth
Based on product type, the market is segregated into interior and exterior. The interior segment is set to rise at a higher CAGR over the forecast period. Rising demand for texture paint arts for interior decoration is propelling the segment expansion. Increasing preference for a unique and visually appealing surface is also supporting segment expansion.
Increased Demand for Personalized and Customized Home Décor FosteredResidential Segment Growth
In terms of application, the market is categorized into residential and non-residential. The residential segment accounted for a significant market share. Increased demand for personalized and customized home décor is propelling segment expansion.
From the regional ground, the market is classified into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Report Coverage
The market research report presents a comprehensive market examination, emphasizing crucial elements, including the competitive environment and prominent product categories. Moreover, the report offers valuable insights on market trends and significant industry developments. Apart from the factors above, the report includes many factors that have boosted market expansion in recent times.
Drivers and Restraints
Rising Demand for Texture Paints due to their Superior Properties to Augment Market Progress
Increasing demand for texture paints to provide durability and resistance to wear and tear is projected to boost market growth in the coming years. The textured finish can assist in concealing minor imperfections on surfaces, offering long-lasting and visually appealing coatings. Surging demand for aesthetic appeal in residential and non-residential spaces is accelerating market expansion. Growing preference for these paints over regular paints as they have better coverage and hide blemishes more effectively is augmenting the market expansion. Rapid integration of texture painting techniques to improve living or working spaces due to their superior properties is fueling market growth.
On the other hand, market growth is restrained by the presence of chemicals used in these paints.
Source-Â https://www.fortunebusinessinsights.com/texture-paints-market-108978Â
Regional Insights
Increase in Construction and Building Activities Accelerated Market Growth in Asia Pacific
Asia Pacific commanded the global market. An increase in construction and building activities in China, India and Japan is contributing to market growth in the region. The rapid growth of residential and non-residential infrastructures is fostering market expansion.
North America is set to exhibit remarkable growth in the global market. A rise in commercial spaces and surging demand for appealing decorative paints is fostering market growth in the region.
Competitive Landscape
Growing Focus onExpanding their Businesses by Key Companies to Boost Market Expansion
Asian Paints Ltd., Akzo Nobel N.V., Nippon Paint Holdings Co. Ltd., Berger Paints India Limited, and PPG Industries Inc. are some of the key players in the market. Leading companies are focusing on expanding their businesses to maintain their market positions.
Key Industry Development
- February 2020: The Sherwin-Williams Company approved a purchase agreement with global coatings company Hempel A/S to divest Wattyl, an Australian and New Zealand producer and seller of architectural and protective paint and coatings.
List of Key Players Profiled in the Market Report
- Asian Paints Ltd (India)
- Akzo Nobel N.V (Netherlands)
- Nippon Paint Holdings Co., Ltd. (Japan)
- Berger Paints India Limited (India)
- PPG Industries Inc. (U.S.)
- Kansai Nerolac Paints Limited (India)
- The Sherwin-Williams Company (U.S.)
- DuluxGroup Limited (U.K.)
- BASF SE (Germany)
- Hempel A/S (Denmark)
