Overview:
The size of Texture Paint Market was around USD 14.13 Billion by revenue, at the end of 2021 and is anticipated to grow at a CAGR of 7.97 % to reach close to USD 18.62 Billion by the end of 2030.The global market for texture paints has been studied by Market Research Future (MRFR) to understand how much the market is expected to gain in the coming years. Among the primary reasons, better demand for aesthetic upliftment would ensure the market gains quality backup.
Various factors have been discussed by MRFR to gauge what could give the Texture Paints Industry the much-needed leverage for growth. Construction and renovation activities can set the market for a prosperous beginning. This would enjoy backing from government funding. Growth in urbanization is providing tailwinds to such activities. In addition, the rise in disposable income is creating ripples in the housing sector, which would directly affect the intake pattern of the texture paints. The growing involvement of companies to help customers with patterns and other ideas would increase the boundary for market growth.
However, these paints are more expensive than the traditional ones, which would hold back the market growth in the coming years.
Segmentation:
The report on the texture paints from MRFR spans across various segments like substrate type, product type, additives, and application. Factors and data included derived from these segments would help in better chalking of the market using which companies could devise strategic moves later.
By product type, the exterior texture paint Market Size can be segmented on the basis of smooth textured paint, self-mixing paints, premixed texture paints, and others. These segments are known for their inclusion in various industries with specific demands.
By additive, the Texture Paints Industry can be segmented into household items, sand, quartz, and other texture additives. Sand would gain a hike in its demand in the coming years.
By substrate type, the Texture Paints Industry report spans across interior (ceilings, walls, floorings) and exterior walls. Both these segments would create opportunities using the hike in construction and renovation activities and various demands set by the increasing disposable income.
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Regional Analysis:
The Texture Paints Industry would benefit from the contributions made by the Asia Pacific region. The Asia Pacific would record the highest amount of revenue influx during the forecast period. Countries like India, China, Thailand, Japan, South Korea, are expected to provide better growth opportunities to the market. However, the recent outbreak of Coronavirus is going to limit the growth to some extent as the epicenter is South-East Asia. Growing demand from construction industries is expected to boost the production of the component.
In North America, end users are going to impact the intake of the texture paints. Construction and renovation activities would ensure better market profit. In Europe, a similar impact would be recorded from these two industries and the market is expected to find growth at an easier rate. Both these regions are known for their high disposable income owing to which the intake would be higher.
Competitive Landscape:
The global market for texture paints is eyeing significant benefit from the strategic launchings of several companies like Nippon Paint Holdings Co., Ltd. (Japan), Asian Paints (India), PPG Industries, Inc. (U.S.), Berger Paints India Limited (India), Hempel A/S (Denmark), The Sherwin-Williams Company (U.S.), Jotun A/S (Norway), Kansai Paint Co., Ltd (Japan), The Valspar Corporation. (U.S.), Axalta Coating Systems Ltd. (U.S.), Kelly-Moore Paints (U.S.), Haymes. (Australia), Crown Paints (UK), S K Kaken Co., Ltd. (Japan), Anvil Paints & Coatings, Inc. (U.S.), and Specialized Coating Systems (Pty) Ltd (South Africa). These companies would control the market using their tactical tools like mergers, collaboration, acquisitions, innovations, increasing research funds, and others.
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At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research Consulting Edibles.
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In order to stay updated with the technology and work process of the industry, MRFR often plans conducts meet with the industry experts and industrial visits for its research analyst members.
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