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Painting And Wall Covering Contractors Market Growth Drivers, Strategic Analysis, Market Share, Key Trends And Forecast To 2033
Painting And Wall Covering Contractors Market
According to The Business Research Company's, The painting and wall covering contractors market size has grown marginally in recent years. It will grow from $220.38 billion in 2023 to $224.62 billion in 2024 at a compound annual growth rate (CAGR) of 1.9%. The growth in the historic period can be attributed to construction and real estate activity, home renovations and remodeling, aesthetic trends and design preferences, commercial and industrial projects, property maintenance..
The painting and wall covering contractors market size is expected to see steady growth in the next few years. It will grow to $248.12 billion in 2028 at a compound annual growth rate (CAGR) of 2.5%. The growth in the forecast period can be attributed to green building practices, innovations in materials and techniques, interior design trends, commercial and residential construction, economic conditions.. Major trends in the forecast period include health and safety standards compliance, digital marketing and online presence, innovative application techniques, energy-efficient coatings, residential renovation boom..
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Market Drivers and Trends:
The rising housing demand is expected to propel the growth of the painting and wall covering contractors market going forward. Housing refers to any dwelling place built to accommodate one or more families. Painting and wall-covering contractors manage a variety of home maintenance jobs involving coloring floors, roofs, buildings, and walls. They may also take part in the instruction and management of these jobs. So, an increase in the demand for housing and dwellings increases the need for painting and wall-covering contractors. For instance, in March 2023, according to the United States Census Bureau, a US-based principal agency of the federal statistical system, the number of privately owned housing units approved by building permits in February 2023 was 1,524,000 on a seasonally adjusted yearly basis. This is 13.8% more than the January rate, which was corrected to 1,339,000. Therefore, the rising housing demand is driving the growth of the painting and wall covering contractors market.
The use of technologically innovative paintings is a key trend gaining popularity in the painting and wall covering contractors market. Major companies operating in the painting and wall covering contractors market are focused on using painting based on innovative technologies to strengthen their position in the market. For instance, in April 2022, PPG Industries Inc., a US-based manufacturer of coatings, paints, and specialized materials, launched Copper Armor, the newest virus- and bacteria-fighting paint. Using Corning Guardiant copper technology, this ground-breaking interior coating eliminates 99.9% of viruses and germs after two hours of contact. Copper Armor utilizes Corning Guardiant copper ion technology, an additive that was evaluated at Dr. Charles Gerba's microbiology lab at the University of Arizona. It has been shown that Guardian continually sanitizes walls and kills bacteria. The latest EPA (Environmental Protection Agency) registration represents the first Guardiant-enabled product accessible in the United States.
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Major Key Players of the Market:
Saint-Gobain Adfors America Inc.; Ahlstrom-Munksjo Oyj; Asian Paints Ltd.; Benjamin Moore & Co.; A.S. Création Tapeten AG; J. Josephson Inc.; Sanderson Design Group plc; Grandeco Wallfashion NV; York Wallcoverings Inc.; Dal-Tile LLC; Nippon Paint Holdings Co. Ltd.; Akzo Nobel N.V.; Architonic AG; F. Schumacher & Co.; Osborne & Little Ltd.; CertaPro Painters Ltd.; Five Star Painting Inc.; Fresh Coat Painters; ProTect Painters; Wow 1 Day Painting; College Pro Painters; Mayer Fabrics; CF Stinson LLC; Momentum Textiles Digital; Pallas Textiles Digital; Camira Fabrics Digital; Maharam Digital Projects; Wolf-Gordon Digital; KnollTextiles Digital; Designtex Digital
Painting And Wall Covering Contractors Market 2024 Key Insights:
• The painting and wall covering contractors market will grow to $248.12 billion in 2028 at a compound annual growth rate (CAGR) of 2.5%.
• Expanding Housing Market Fuels Surge In Painting And Wall Covering Contractor Opportunities
• Revolutionizing Interior Spaces As Ppg Industries Unveils Copper Armor A Technologically Advanced Virus- And Bacteria-Fighting Paint
• Asia-Pacific was the largest region in the painting and wall covering contractors market in 2023
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