Texture Paint Market Size, Industry Analysis By Segmentations, Top Key Players, Trends, Future Development & Forecast By 2033
- PUBLISHED ON
- 2023-06-01
- NO OF PAGES
- 289
- CATEGORY
- Chemicals & Materials
Texture Paint Market size was valued at USD 12,400 million in 2022 and is projected to reach USD 16,700 million by 2033, growing at a CAGR of 4.5% during the forecast period.
Report Scope
Report Attributes | Description |
Market Forecast in 2022 | USD 12,400 million |
Market Forecast in 2033 | USD 16,700 million |
CAGR % 2023-2033 | 4.5% |
Base Year | 2022 |
Historic Data | 2020-2021 |
Forecast Period | 2023-2033 |
Report USP | Product, end-user industry, company share, company heat map, company Capacity Technology Product capacity, growth factors and more |
Key Companies | AkzoNobel N.V.; PPG Industries, Inc.; Sherwin-Williams Company; Asian Paints Limited; Nippon Paint Holdings Co., Ltd.; Berger Paints India Limited; Kansai Paint Co., Ltd.; RPM International Inc.; Hempel A/S; Jotun A/S |
Texture Paint Market- Description
Texture paint refers to a type of paint that creates a textured surface when applied to walls, ceilings, or other surfaces. It adds visual interest and depth to a space, allowing for various decorative effects and finishes. Texture paint is commonly used in both residential and commercial applications to enhance the aesthetics of interiors and exteriors.
Manufacturers are constantly developing new and improved formulations for texture paints, offering enhanced durability, ease of application, and eco-friendly options. Innovative application techniques, such as spray textures, have also emerged, making it easier and quicker to achieve textured effects.
Texture Paint market: Key Trends
• Commercial Applications
Texture paints are not limited to residential applications but also find extensive use in commercial spaces, such as hotels, offices, retail stores, and restaurants. These spaces often use texture paints to create unique atmospheres and highlight specific areas or architectural features.
• Market Growth
The texture paint market is experiencing growth across various regions, including North America, Europe, Asia Pacific, and the Middle East. Rapid urbanization, increasing disposable incomes, and a growing focus on interior aesthetics are driving market expansion
Texture Paint market: Segmental Analysis
By Resin Type
• Acrylic
• Epoxy
By Application
• Residential
• Non - Residential
Texture Paint market: Geographical landscape
The North American texture paint market has witnessed steady growth due to the presence of a well-developed construction industry and the increasing demand for decorative coatings. The United States is a major contributor to the market growth in this region.
Texture Paint Market- Impact of COVID-19
The texture paint market, like many other industries, experienced disruptions in the global supply chain due to lockdowns, travel restrictions, and temporary closures of manufacturing facilities. These disruptions could have led to delays in the production and distribution of texture paint products. The construction industry, a major consumer of texture paint, was affected by the pandemic as many construction projects were put on hold or delayed.
Texture Paint Market: Key Companies
• AkzoNobel N.V.
• PPG Industries, Inc.
• Sherwin-Williams Company
• Asian Paints Limited
• Nippon Paint Holdings Co., Ltd.
• Berger Paints India Limited
• Kansai Paint Co., Ltd.
• RPM International Inc.
• Hempel A/S
• Jotun A/S
• Others
Texture Paint Market: Regional Scope
North America
• U.S.
• Canada
• Mexico
Europe
• U.K.
• Germany
• France
• Italy
• Spain
• Rest of Europe
Asia Pacific
• China
• India
• Japan
• South Korea
• Australia
• Rest of Asia Pacific
South America
• Brazil
• Argentina
• Rest of South America
Middle East and Africa
• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest of Middle East and Africa
Quality Assurance Process
- We Market Research’s Quality Assurance program strives to deliver superior value to our clients.
We Market Research senior executive is assigned to each consulting engagement and works closely with the project team to deliver as per the clients expectations.
Market Research Process
We Market Research monitors 3 important attributes during the QA process- Cost, Schedule & Quality. We believe them as a critical benchmark in achieving a project’s success.
To mitigate risks that can impact project success, we deploy the follow project delivery best practices:
- Project kickoff meeting with client
- Conduct frequent client communications
- Form project steering committee
- Assign a senior SR executive as QA Executive
- Conduct internal editorial & quality reviews of project deliverables
- Certify project staff in SR methodologies & standards
- Monitor client satisfaction
- Monitor realized value post-project
Case Study- Automotive Sector
One of the key manufacturers of automotive had plans to invest in electric utility vehicles. The electric cars and associated markets being a of evolving nature, the automotive client approached We Market Research for a detailed insight on the market forecasts. The client specifically asked for competitive analysis, regulatory framework, regional prospects studied under the influence of drivers, challenges, opportunities, and pricing in terms of revenue and sales (million units).
Solution
The overall study was executed in three stages, intending to help the client meet its objective of precisely understanding the entire market before deciding on an investment. At first, secondary research was conducted considering political, economic, social, and technological parameters to get a gist of the various aspects of the market. This stage of the study concluded with the derivation of drivers, opportunities, and challenges. It also laid substantial emphasis on understanding and collecting data not only on a global scale but also on the regional and country levels. Data Extraction through Primary Research
The second stage involved primary research in which several market players and automotive parts suppliers were contacted to study their viewpoint concerning the development of their market and production capacity, clientele, and product line. This stage concluded in a brief understanding of the competitive ecosystem and also glanced through the strategies and pricing of the companies profiled.
Market Estimates and Forecast
In the final stage of the study, market forecasts for the electric utility were derived using multiple market engineering approaches. This data helped the client to get an overview of the market and accelerate the process of investment.
Case Study- ICT Sector
Business process outsourcing, being one of the lucrative markets from both supply- and demand- side, has appealed to various companies. One of the prominent corporations based out of Japan approached us with their requirements regarding the scope of the procurement outsourcing market for around 50 countries. Additionally, the client also sought key players operating in the market and their revenue breakdown in terms of region and application.
Business Solution
An exhaustive market study was conducted based on primary and secondary research that involved factors such as labor costs in various countries, skilled and technical labors, manufacturing scenario, and their respective contributions in the global GDP. A comparative study of the market was conducted from both supply- and demand side, with the supply-side comprising of notable companies, such as GEP, Accenture, and others, that provide these services. On the other hand, large manufacturing companies from them demand-side were considered that opt for these services.
Conclusion
The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2033.
Frequently Asked Questions
What is the market size and growth projections?
The global Texture Paint market size was valued at USD 12,400 million in 2022 and is projected to reach USD 16,700 million by 2033, growing at a CAGR of 4.5% during the forecast period.
What are the drivers shaping various markets?
Commercial Applications: - Texture paints are not limited to residential applications but also find extensive use in commercial spaces, such as hotels, offices, retail stores, and restaurants. These spaces often use texture paints to create unique atmospheres and highlight specific areas or architectural features.
Who are the key competitors of market Players?
Some of the major players operating within the market are AkzoNobel N.V., PPG Industries, Inc.; Sherwin-Williams Company; Asian Paints Limited; Nippon Paint Holdings Co., Ltd.; Berger Paints India Limited; Kansai Paint Co., Ltd.; RPM International Inc.; Hempel A/S; Jotun A/S
What are the top performing segments, and countries / regions of each of the markets?
The texture paint market in Latin America has shown significant growth, primarily fueled by infrastructure development and a rise in construction activities. Brazil, Mexico, and Argentina are prominent contributors to the regional market.
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