The valuation of the global texture paints market is estimated at US$ 16.7 billion in 2023. The global market is forecasted to reach US$ 39.2 billion by the end of 2033, increasing at a noteworthy CAGR of 8.9% over the decade. Texture paints are coarse grain and heavy consistency paints that consist of sand and gypsum with a water-thinned binder. They are utilized for creating a rough patterned effect on the walls. The growing use of texture paints in both non-residential and residential applications is estimated to generate lucrative opportunities for manufacturers over the coming years.
The paint industry is evolving constantly, intending to deliver functional and higher aesthetic value. Texture paints refer to the textured appearance and feel on the interior walls of a structure for a stylish look. They contain resins and additives to protect the texture even when the paint dries, which makes them different from normal paints.
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Growing demand for texture paints from numerous end-use industries, including building and construction, is driving growth opportunities in the target market. Increasing requirement for painting as well as repainting residential structures is bolstering the sales of texture paints. Improved standard of living, increasing home ownership, and rising per capita income are some additional factors that are contributing to market revenue growth.
However, the high price of texture paints compared to conventional paints is projected to limit their adoption to some extent. More time is required for the application of texture paints compared to traditional paints, which may adversely impact the sales of texture paints. A noticeable expansion of the building and construction market across developing countries, including India and others can provide lucrative opportunities for the growth of the target market in the coming 10 years.
Asia Pacific is estimated to dominate the global market owing to the rising demand for texture paints from the residential and commercial sectors. Rising sales of texture paints are also attributed to the constant increase in infrastructural projects along with growing per capita income in Asia Pacific.
Key Takeaways from Market Study
- The global texture paints market is forecasted to reach a valuation of US$ 39.2 billion by the end of 2033.
- Global demand for texture paints is set to increase at a CAGR of 8.9% during the forecast period ending 2033.
- Sales of texture paints are estimated US$ 16.7 billion for 2023.
- Demand for texture paints is estimated to expand at a CAGR of 8% from 2023 to 2033 in Canada.
- The Asia Pacific region is forecasted to hold more than 46% of the total global market share by the end of 2033.
- The residential segment held more than 46% market share in 2022.
- Water-based texture paints accounted for 55.5% of global market revenue in 2022.
Key Market Players
Distributors of texture paints are strengthening their supply chain management system to match consumers’ requirements and extend their reach around the world. Increased expenditure by manufacturers ensures the delivery of quality products and helps in maintaining product standards.
For instance :
- Tnemec Cp. Inc., in October 2019, acquired Textured Coatings of America, Inc.’s assets. The acquisition strengthened the position of Tnemec as a global leader and provided assistance to meet consumer requirements.
Prominent Players
- Andura Coatings
- The ValsPar Corporation
- Spectra Texture Wall Coating Pvt. Ltd.
- Nippon Paint Holdings Co., Ltd.
- Kansai Paint Co. Ltd.
- Jotun A/S
- Crown Paints Limited
- Berger Paints India Limited
Segmentation of Texture Paints Industry Research
- By Type :
- Smooth Texture
- Sand Texture
- Orange Peel Texture
- Popcorn Texture
- Others
- By Technology :
- Water-based
- Solvent-based
- Others
- By End Use :
- Residential
- Commercial
- By Region :
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Key Questions Covered in the Report
- What is the projected valuation of the texture paints in 2023?
- At what rate will the global texture paints market grow until 2033?
- Which are the factors hampering the growth in the texture paints Industry?
- Which region is expected to lead in the global texture paints market during 2023 to 2033?
- Which are the factors driving the texture paints market during the forecast period?
- What is the expected market value of the texture paints market during the forecast period?
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