Texture Paints Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Texture Paints Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Growth Factors of Texture Paints Market

The texture paints market size was valued at USD 12.33 billion in 2022, and the market is now projected to grow from USD 12.86 billion in 2023 to USD 17.74 billion by 2030, exhibiting a CAGR of 4.7% during the forecast period of 2023-2030.

The COVID-19 pandemic also restrained the paint and coatings supply chain concerning its stock and transportation. Manufacturers and producers worked toward increasing the efficiency and stability of production processes by embracing innovative approaches. Many suppliers ensured that their operations ran smoothly, especially on matters concerning the delivery of raw materials. However, these challenges restrained overall texture paints market growth. They shed light on the issue of operational resilience as the disruptive events continued to escalate.

The major factors that have advanced the paint and coatings market are the construction industry and government spending on infrastructure. Current architecture, technical advancements, and personalized buildings are the main drivers of the high demand for formats such as texture paints. Some advantages of using texture paints include, that they can retain moisture, they are easy to maintain among other qualities. This trend is therefore increasing the target market for paint producers and facilitating the differentiation of products. A better future will also foster the progress of the construction industry which propels the texture paints market share.

Moreover, texture paints have higher durability and hiding capacity and can cover surface imperfections compared to normal paints. The product can be ordered to be smooth granulated or have a desired relief pattern, making them suitable for use in houses and other places. All these paints can be applied directly to the surface without needing any treatment and are designed for professionals and homeowners alike. Further, changes in design trends also contribute to increased sales since individuals continue to look for new ideas to improve environments. Due to the functional benefits and customizable nature, these products' markets keep growing.

Comprehensive Analysis of Texture Paints Market

The texture paints market and chemicals & advanced materials industry have exponential growth because of their market segmentation. This market expansion also means having comprehensive regional studies taking into account the main supply and demand influences in the chemicals & advanced materials market. These segmentations are methodically segregated by resin types, by technology, by product types and by applications. The resin type includes, Acrylic and Others. The technology includes, Water-Based and Solvent-Based, The product type includes, Interior and Exterior. The application includes, Residential and Non-Residential.

The Asia Pacific area was identified as the biggest consumer taking 53.7% of the international market in 2022. A leading share can also be attributed to greater construction and building activities in developed and developing nations including China, India and Japan. This has led to construction rates of residential and non-residential buildings and therefore the rate of ordering these paints. This covering is widely applied in furnishing, window and wall decoration. The country's population is increasing rapidly, thus, newly developed residents contribute to the market.

Market leaders play an essential role in the chemicals & advanced materials industry as they provide industrial prospectus and set market standards. These players include, 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) and Hempel A/S (Denmark). These market players provide a level-playing competitive landscape.

In June 2021, PPG purchased a Nordic paint and coatings firm Tikkurila. It will help the PPG to expand the variety of paints and coatings including Tikkurila’s eco-friendly decorative materials and industrial coating products.

Segmentation Table

Global Texture Paints Market Scope

Study Period 2017-2030

Base Year 2022

Forecast Period 2023-2030

Growth Rate CAGR of 4.7% from 2023-2030

Historical Period 2017-2021

Unit Value (USD Billion)

Segmentation By Resin Type, Technology, Product Type, Application, and Geography

By Resin Type Acrylic

Others

By Technology Water-Based

Solvent-Based

By Product Type Interior

Exterior

By Application Residential

Non-Residential

By Geography North America (By Application, By Country)

U.S. (By Application)

Canada (By Application)

Europe (By Application, By Country)

Germany (By Application)

U.K. (By Application)

France (By Application)

Italy (By Application)

Rest of Europe (By Application)

Asia Pacific (By Application, By Country)

China (By Application)

India (By Application)

Japan (By Application)

South Korea (By Application)

Rest of Asia Pacific (By Application)

Latin America (By Application, By Country)

Brazil (By Application)

Mexico (By Application)

Rest of Latin America (By Application)

Middle East and Africa (By Application, By Country)

UAE (By Application)

Saudi Arabia (By Application)

South Africa (By Application)

Rest of Middle East & Africa (By Application)


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