Texture Paint Market Outlook, Insights, and Size 2024-2033 | Trends and Forecast

"The Business Research Company recently released a comprehensive report on the Global Texture Paint Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

According to The Business Research Company's, The texture paint market size has grown strongly in recent years. It will grow from $12.27 billion in 2023 to $12.98 billion in 2024 at a compound annual growth rate (CAGR) of 5.8%. The growth in the historic period can be attributed to The rise in urban population, expansion of infrastructure projects, growth in residential and commercial construction, increasing consumers' preference for personalized and unique interior designs, rising stringent regulations regarding volatile organic compound (VOC) emissions, and increasing awareness of interior design. .

The texture paint market size is expected to see strong growth in the next few years. It will grow to $16.35 billion in 2028 at a compound annual growth rate (CAGR) of 5.9%. The growth in the forecast period can be attributed to rising consumer spending, growing environmental concerns and consumer preferences for sustainable products, rise in demand for high-end customization, and changing interior design trends and preferences. Major trends in the forecast period include Advancements in formulation technology, adoption of eco-friendly formulations, adoption of innovative application techniques, digitalization of design processes, and integration of smart features in texture paints.

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Market Drivers and Trends:

A rise in expenditure on home decoration is expected to propel the texture paint market going forward. Home decoration refers to enhancing and beautifying a living space's interior through various design elements, such as furniture, accessories, colors, and arrangements, to create a personalized and aesthetically pleasing environment. The increasing expenditure on home decoration is due to growing interest in interior design and home aesthetics, affordable decor options, and a desire for personalization and comfort in living spaces. Texture paint for home decoration enhances the aesthetic appeal of living spaces while providing durability and easy maintenance, ultimately optimizing expenditure on interior design and long-term upkeep. For instance, in January 2023, according to the Joint Center for Housing Studies of Harvard University, a US-based research center and think tank, national spending on remodeling and renovation repairs for owner-occupied homes reached $485 billion in 2023, marking a 2.6% increase from 2022. Therefore, a rise in expenditure on home decoration is driving the texture paint market.

Major companies operating in the texture paint market are focusing on developing advanced formulation techniques to provide better coloring solutions. Advanced formulation techniques involve integrating specialized ingredients and processes to enhance the performance and application of texture paints. For instance, in July 2023, DAP Global Inc., a US-based home repair and construction product manufacturer, launched a new spray texture paint line with a 2in1 wall and ceiling for orange peel, knockdown, and popcorn textures. The product offers a patent-pending dispensing system with adjustability and consistent flow, ensuring an even, wide spray pattern. The Aim tech technology allows for a 60-degree adjustable nozzle angle, providing flexibility in vertical, overhead, and hard-to-reach areas. Users can select from fine, medium, or heavy texture levels with a lock function for secure transport and storage. The line features advanced formulation techniques, with water-based formulas offering a 30-minute paint-ready time, while the oil-based Orange Peel formula is ready in just five minutes.

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Major Key Players of the Market:

Sherwin-Williams Company, PPG Industries, Sika AG, Akzo Nobel N.V., Wacker Chemie AG, Nippon Paint Holdings Co. Ltd., RPM International Inc., Axalta Coating Systems, Mapei Corporation, Kansai Paint Co. Ltd., Asian Paints Limited, Jotun A/S, Hempel A/S, Behr Process Corporation, Berger Paints India Limited, Dunn-Edwards Corporation, National Paints Factories Co. Ltd., Kelly-Moore Paints, Diamond Vogel, Crown Paints Ltd., Tnemec Company Inc., Al-Jazeera Factory For Paints Co., BEHRINGER Spezialtiefbau GmbH, Jenson And Nicholson Paints Private Limited, Andura Coatings DGH Manufacturing Ltd.

Texture Paint Market 2024 Key Insights:

• The texture paint market size is expected to see strong growth in the next few years. It will grow to $16.35 billion in 2028 at a compound annual growth rate (CAGR) of 5.9%.
• Role Of Expenditure On Home Decoration In Propelling The Texture Paint Market
• Innovative Formulations Are Advancing Texture Paint Solutions In The Market
• Asia-Pacific was the largest region in the texture paint market in 2023

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