Texture Paint Market By Technology (Water-based, Solvent-based), By Product Type (Interior, Exterior), By Application (Residential, Non-Residential), And Region for 2024-2031

Texture Paint Market Valuation – 2024-2031

The growing desire for customizable and aesthetically pleasing interior décor solutions is a major driver of the Texture Paint Market. According to the analyst from Market Research, the Texture Paint Market is estimated to reach a valuation of USD 16.9 Billion over the forecast period 2031, by subjugating around USD 12 Billion in 2023.

The rising trend of house repair and remodeling projects, combined with the developing commercial building industry, contributes to the demand for texture paints. It enables the market to grow at a CAGR of 4.37% from 2024 to 2031.

Texture Paint MarketDefinition/ Overview

Texture paint is a decorative coating that comprises granular materials or additions, resulting in a tactile surface finish with depth and dimension. It is used on walls, ceilings, and other surfaces to offer visual appeal, aesthetics, and texture to both indoor and outdoor areas. Texture paint is widely used to hide flaws on walls, such as cracks or uneven surfaces, while also providing a distinctive and customizable look.

Furthermore, its applications range from residential residences to commercial buildings and industrial facilities. In residential settings, texture paint is commonly utilized in living rooms, bedrooms, and corridors to provide warmth and individuality to the space. It is used in commercial spaces like as retail stores, restaurants, and workplaces to create visually appealing feature walls or accent areas.

How does Increased Demand for Aesthetic Homes Drive the Texture Paint Market?

There is an increasing desire among homeowners to improve the aesthetic appeal of their houses, including the use of texture paints to create unique, attractive walls and surfaces. Texture paints come in a range of finishes, including matte, glossy, and satin, and can substantially improve the appearance of both the inside and exterior of a structure. Home renovation programs, social media, and interior design magazines all contribute to the rise in demand for texture paints.

Urbanization and the expansion of the real estate sector, particularly in emerging markets, are key drivers of the Texture Paint Market. New building projects, both residential and commercial, frequently employ modern design elements such as textured walls and surfaces to bring character and dimension to rooms. Also, the growth of hotels, workplaces, and retail locations that prioritize distinctive and visually appealing interiors adds to the demand for texture paints.

Furthermore, the advancement of paint technologies is demanding in the creation of higher-quality texture paints that are more durable, easier to apply, and available in a greater choice of textures and colors. These improvements are upsurging the attraction toward texture paints among both residential and commercial users, boosting their use over standard paints.

Will Impact of Texture Paint on Environment Impact its Growth?

Texture paints are manufactured and applied using chemicals and compounds that can be detrimental to both the environment and human health. As a result, higher environmental restrictions and increased awareness of health problems demand the development of eco-friendly, low-VOC (volatile organic compounds) and non-toxic paints, posing an obstacle in the market, and limiting market growth.

The Texture Paint Market is very competitive both within the business and against alternative wall finishing methods. To stand out, businesses need to offer greater quality, distinctive textures, or competitive prices, which reduces profit margins. As a result, small and medium-sized businesses (SMEs) have significant challenges in competing with larger organizations that benefit from economies of scale.

Category-Wise Acumens

Will Renovation of Place Space Trigger Demand for Interior Paint?

According to analysis, the interior segment is estimated to grow at the highest CAGR in the product type segment during the forecast period. Urbanization leads to the development of new residential and commercial structures, with a strong emphasis on interior aesthetics. The need for personalized and unique interior spaces fuels the market for interior texture paints, which provide a variety of finishes and textures that can significantly modify indoor spaces.

Interior rooms get renovated or repainted more regularly than exteriors due to trends, wear and tear, or a desire to modify the appearance. Interior design trends change quickly, so homeowners and businesses frequently remodel their interiors to stay up with the current styles, boosting demand for interior texture paints.

Furthermore, interior texture paints are intended to be more versatile and easier to apply in a wide range of environments, including homes, workplaces, and commercial buildings. They can be utilized not only for aesthetic reasons, but also for utilitarian ones, such as disguising flaws, increasing longevity, and improving indoor air quality with low-VOC choices. Interior texture paints’ versatility and simplicity of application make them appealing to both professional contractors and DIY enthusiasts, adding to their increased market share.

What are the Key Factors Influencing the Residential Sector to Grow in the Market?

The residential segment is estimated to dominate the Texture Paint Market during the forecast period. The continued expansion in global housing demand, driven by population growth and urbanization, plays a crucial role in the residential segment’s dominance. As more people move to cities, there is a greater need for new residential development and house improvements. Texture paints are often utilized in these projects due to their aesthetic appeal and protective properties, increasing their demand in the residential sector.

The popularity of DIY (do-it-yourself) home improvement and renovation projects is also contributing to the expansion of the residential Texture Paint Market. Homeowners who want to personalize their living spaces and remodel their interiors frequently pick texture paints due to their versatility and ability to create distinctive finishes. The availability of simple texture paint materials and instructional content online has made it easier for customers to complete such projects themselves, increasing demand.

Furthermore, modern consumers are increasingly drawn to products that combine visual appeal and sustainability. Texture paints offer a variety of finishes and textures, allowing homeowners to get the style and feel they want for their houses. Furthermore, the growing preference for eco-friendly and health-conscious house-building products has increased the demand for texture paints that contain low levels of volatile organic compounds and are created from sustainable ingredients. This shift in consumer tastes has greatly increased the residential segment’s market share in the Texture Paint Market.

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Country/Region-wise Acumens

How will Urbanization Benefit the Texture Paint Market in Asia Pacific?

According to analyst, Asia Pacific is estimated to dominate the Texture Paint Market during the forecast period. The region is rapidly urbanizing, with a sizable proportion of the population migrating to cities. This urbanization is accompanied by significant infrastructure development, which includes residential and commercial structures, public spaces, and transit networks. Countries like China and India, with their big populations and economic growth, are driving this expansion, producing a massive demand for construction materials, including texture paints for both aesthetic and protective purposes.

The Asia Pacific region’s diverse and often harsh climatic conditions, which range from tropical climates in Southeast Asia to cold climates in Northern China and Japan, necessitate the use of texture paints that provide resistance to weathering, moisture, UV radiation, and other environmental factors. Texture paints add resilience and lifespan to structures, making them a popular choice for both residential and non-residential projects.

Furthermore, the region has a considerable presence of texture paint manufacturers, who benefit from cheaper manufacturing costs, raw material availability, and accessibility to regional rising markets. These firms spend in R&D to create items that meet the unique demands and tastes of the local market, such as eco-friendly solutions and products built for the local climate.

How do Restorations and Renovations Projects Drive the European Market Forward?

There are many historical and heritage buildings throughout Europe, as well as older residential and commercial infrastructure that have to be maintained, renovated, and restored regularly. Texture paints are often employed in these projects due to their aesthetic and protective properties, fueling demand in the region. The emphasis on retaining architectural integrity while modernizing buildings for energy efficiency and modern aesthetics helps to drive the Texture Paint Market.

Europe is known for its severe environmental and health standards, particularly those governing the reduction of volatile organic compounds (VOCs) in paints and coatings. This regulatory environment creates a demand for eco-friendly and sustainable texture paint products. Manufacturers in the region have responded by producing and marketing low-VOC, water-based, and environmentally friendly texture paints, which meet both regulatory standards and consumer demands for green products.

Furthermore, European customers are increasingly demanding personalized and aesthetically pleasant living areas, thereby, fueling the expansion of the texture paint industry. There is a growing trend in interior design and home décor that reflects personal styles and preferences, and texture paints provide a variety of alternatives for achieving desired designs and finishes. The market is also seeing an increase in DIY initiatives among homes, fueling demand for texture paints.

Competitive Landscape

The Texture Paint Market is characterized by a dynamic and competitive landscape, fueled by technical breakthroughs, creative product offers, and shifting consumer preferences. In addition, the market’s competitiveness is fueled by variables such as pricing strategies, distribution networks, and marketing initiatives targeted at increasing market reach and sales prospects.

Some of the prominent players operating in the Texture Paint Market include

AkzoNobel, Nippon Paint Holdings, Berger Paints, Asian Paints, Kansai Paint, PPG Industries, BASF, Sherwin-Williams, RPM International, Valspar Corporation, DuluxGroup, Jotun, Hayward Lumber, Behr Paint Company, Kelly-Moore Paints, Benjamin Moore & Co., Farrow & Ball, Little Greene, Zoffany, Craig & Rose.

Latest Developments

• In February 2024, AkzoNobel announced its plan to buy PPG Industries’ European and North American decorative paints business for €1.1 billion. This acquisition is intended to help AkzoNobel improve its position in the texture paint industry, notably in North America.
• In February 2024, Asian Paints announced a new marketing campaign highlighting the advantages of utilizing texture paints to create distinctive and personalized interiors. This campaign is likely to drive up demand for texture paints in India.
• In February 2024, Jotun announced the establishment of a new production facility in Saudi Arabia that will produce texture paints. This development is intended to address the increased demand for texture paints in the Middle East.
• In January 2024, Berger Paints announced a collaboration with an Indian startup to create and sell a new line of texture paints with antibacterial qualities. This is intended to meet the increasing need for hygienic coatings in homes and hospitals.
• In December 2023, Nippon Paint Holdings launched a new line of eco-friendly texture paints produced from recycled materials. This initiative is anticipated to appeal to consumers who are becoming more concerned about sustainability.

Report Scope

Texture Paint Market, By Category

Technology

• Water-based
• Solvent-based

Product Type

• Interior
• Exterior

Application

• Residential
• Non-residential

Region

• North America
• Europe
• Asia-Pacific
• South America
• Middle East & Africa

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