UNVEILING FUTURE INDUSTRY GROWTH FACTORS FOR TEXTURE PAINTS


The global texture paints market size stood at USD 12.33 billion in 2022. The market revenue is anticipated to rise from USD 12.86 billion in 2023 to USD 17.74 billion by 2030, registering a CAGR of 4.7% from 2023 to 2030.

The increasing need for specialized coatings to create a textured surface on walls or other surfaces is driving the demand for texture paints. They have different forms, including coarse, medium, or fine textures.

Segments

Increased Demand for Acrylic Resins due to their Versatile and Durable Properties Propelled Segment Growth

On the basis of resin type, the market is bifurcated into acrylic and others. The acrylic segment secured the larger texture paints market share. Increased demand for acrylic resins due to their versatile and durable properties is driving segment growth.

Rising Adoption of Water-based Technology due to Its Advantages Boosted Segment Growth

By technology, the market is classified into water-based and solvent-based. The water-based segment dominated the global market. The segment growth is attributed to its advantages, such as quick drying and easier application.

Rising Need for Interior Decoration to Fuel Segment Growth

Based on product type, the market is segregated into interior and exterior. The interior segment is set to rise at a higher CAGR over the forecast period. Rising demand for texture paint arts for interior decoration is propelling the segment expansion. Increasing preference for a unique and visually appealing surface is also supporting segment expansion.

Increased Demand for Personalized and Customized Home Décor FosteredResidential Segment Growth

In terms of application, the market is categorized into residential and non-residential. The residential segment accounted for a significant market share. Increased demand for personalized and customized home décor is propelling segment expansion.

From the regional ground, the market is classified into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Drivers and Restraints

Rising Demand for Texture Paints due to their Superior Properties to Augment Market Progress

Increasing demand for texture paints to provide durability and resistance to wear and tear is projected to boost market growth in the coming years. The textured finish can assist in concealing minor imperfections on surfaces, offering long-lasting and visually appealing coatings. Surging demand for aesthetic appeal in residential and non-residential spaces is accelerating market expansion. Growing preference for these paints over regular paints as they have better coverage and hide blemishes more effectively is augmenting the market expansion. Rapid integration of texture painting techniques to improve living or working spaces due to their superior properties is fueling market growth.

Browse Summary:https://www.fortunebusinessinsights.com/texture-paints-market-108978 


Created: 02/05/2024 09:02:06
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