Texture Paint Market Forecasts to 2030 – Global Analysis By Product Type (Exterior, Interior and Other Product Types), Type, Application and By Geography

Texture Paint Market Forecasts to 2030 – Global Analysis By Product Type (Exterior, Interior and Other Product Types), Type, Application and By Geography

According to Stratistics MRC, the Global Texture Paint Market is accounted for $13.3 billion in 2023 and is expected to reach $20.5 billion by 2030 growing at a CAGR of 6.3% during the forecast period. Walls are given a more textured appearance and feel by texture a paint, which raises both their aesthetic and practical value. In order to hide defects and protect the wall surfaces from the environment, they also fill any gaps or crevices in the wall surfaces. Texture paint is used to give the outside and interior walls of commercial and residential buildings a textured feel and look for aesthetic purposes. In contrast to regular paints, texture paints contain resins and other compounds that preserve the texture even after the paint has dried.

According to the EPA, some paints contain as much as 35% of their weight in VOCs, while others can be as low as zero percent. The amount of VOCs released from paint depends on factors such as how it is mixed and applied, ventilation, and the type of surface it is being used on.

Market Dynamics

Driver

Increasing demand in construction Sector

As the construction sector continues to develop, the demand for texture paint is expected to rise due to its ability to improve the appearance, preserve surfaces, and provide design flexibility. This opens up prospects for producers, suppliers, and industry experts in the texture paint market to meet the demands of the building industry. However, a burgeoning middle class with greater purchasing power is what is driving the need for texture paint.

Restraint

Harmful effects of texture paints on human health

The widespread usage of texture paints in both residential and non-residential sectors can be hampered by the volatile organic component elements in them. In order to reduce the influence on human health, governing organisations are putting strict laws and policies into place. Furthermore, the presence of intricate designs, large fractures, or porous textures can trap dirt, increasing the time and labour required for cleaning and maintenance. Therefore, these elements are limiting market expansion.

Opportunity

New technologies and innovations

The building industry's demand for textured paints is anticipated to increase as a result of new technologies and advancements. Building new industrial and commercial facilities and expanding multiple already-existing firms necessitate construction and renovation work on existing buildings. The market for texture paint should expand as a result of this, as well as the expansion of interior design and the rising demand for house interiors.

Threat

High cost of texture paint

Due to the additional materials and particular techniques needed to produce textured surfaces, texture paint can be more expensive than ordinary paint. Economical consumers could be discouraged from choosing texture paint over less expensive alternatives due to this added cost. Smooth surfaces might require additional cleaning or priming, which would add to the process' overall time and cost. The market's potential customer base may be constrained by this restriction on application surfaces.

Covid-19 Impact

The Covid-19 outbreak is causing problems for the texture paint manufacturers, including delays in getting raw supplies. Additionally, the expansion of the texture paints industry is being negatively impacted by import and export limitations. Construction activity has decreased due to a drop in income. The construction of new structures has completely stopped, which has resulted in a decline in the market for texture paints. In addition, the pandemic's effects on consumer spending habits made refurbishment and the purchase of visually appealing products less important.

The interior segment is expected to be the largest during the forecast period

The interior segment is estimated to have a lucrative growth, due to the increasing use of texture paints for home interior. Additional elements that are anticipated to boost demand for interior textured paints throughout the forecast period include rising living standards and infrastructural development in emerging nations. The domestic market is growing as a result of rising living standards, infrastructure improvements, and an increase in the usage of textured paints for home interior design.

The residential segment is expected to have the highest CAGR during the forecast period

The residential segment is anticipated to witness the fastest CAGR growth during the forecast period, due to its aesthetic and functional value. A form of paint known as texture paint is created specifically for use in homes and other domestic structures. It is an ornamental paint that gives walls depth and texture, giving them a distinctive appearance. From coarse to fine, texture paints are available in a range of finishes and can be used to create a variety of effects. Some texture paints may use fillers like silica or marble dust to enhance the texture.

Region with Largest share

Asia Pacific is projected to hold the largest market share during the forecast period owing to the increasing demand from commercial and residential sectors. A few of the factors boosting the market's growth are the continuing infrastructure initiatives and rising disposable incomes. The demand for texture paint is directly influenced by the rising expenditure in infrastructure construction. The market for texture paint products is fueled by urban dwellers' need for distinctive finishes and textured surfaces.

Region with highest CAGR

Europe is projected to have the highest CAGR over the forecast period, owing to the rising demand for environmentally friendly and sustainable products. Traditional paints are increasingly being replaced by decorative and textured paints. The increased number of rehabilitation and restoration projects in historic buildings and sites is also predicted to increase demand for texture paints in the area. The industry is developing in part as a result of the rising demand for environmentally friendly and sustainable texture paints.

Key players in the market

Some of the key players profiled in the Airport Ground And Cargo Handling Services Market include PPG Industries, Inc., Kansai Paint Co., Ltd., Asian Paints Ltd., Nippon Paint Holdings Co., Ltd., RPM International Inc., Berger Paints India Limited, The Sherwin-Williams Company, Akzo Nobel N.V., BASF SE, DuluxGroup Limited, PPG Paints, Kalyani Enterprises, National Paints, Hempel A/S, California Paints, Spontex Coating Chemicals and Spctra Texture Wall Coating Pvt. Ltd.

Key Developments

In September 2022, Hempel A/S, has acquired the Cap Couleurs Group’s store network in South-East France, maintaining Hempel’s segment leadership in the Var region and supporting its growth initiatives.

In April 2022, AkzoNobel N.V. Acquiring Kansai Paint’s activities in the region will help us to further expand our paints and coatings business in Africa and provide a strong platform for future growth

Product Types Covered
• Exterior
• Interior
• Other Product Types

Types Covered
• Sand Texture Paint
• Premixed Paint
• Self-Mixing Paint
• Smooth Texture Paint
• Other Types

Applications Covered
• Commercial
• Industrial
• Residential
• Other Application

Regions Covered
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements