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Soaring Demand Set to Propel Painting And Wall Covering Contractors Market to $266.01 Billion by 2029
Painting And Wall Covering Contractors Market
What Is the Expected CAGR for the Painting And Wall Covering Contractors Market Through 2025?
In the past few years, the painting and wall covering contractors market has seen consistent growth. The market size is anticipated to expand from $222.86 billion in 2024 to $229.73 billion in 2025, growing at a compound annual growth rate (CAGR) of 3.1%. The historic growth can be credited to factors such as construction and real estate activities, remodeling and renovation of homes, changing aesthetics and design preferences, along with commercial and industrial projects and property maintenance.
What's the Projected Size of the Global Painting And Wall Covering Contractors Market by 2029?
The market for painting and wall covering contractors is anticipated to experience consistent expansion in the coming years, reaching a valuation of $266.01 billion in 2029 with a compound annual growth rate (CAGR) of 3.7%. The anticipated growth within this period can be linked to factors such as the adoption of eco-friendly building routines, the introduction of new materials and techniques, prevailing interior design styles, as well as both commercial and residential building projects, and the overall economy. Notable trends expected to emerge within this period include adherence to health and safety norms, the growing importance of digital marketing and having an online footprint, the introduction of innovative application methods, energy-efficient coverings, and a surge in home refurbishments.
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Top Growth Drivers in the Painting And Wall Covering Contractors Industry: What's Accelerating the Market?
The painting and wall covering contractors market is anticipated to be driven forward due to the increased demand for housing. Housing is essentially a place designed for the habitation of one or more families. Contractors specializing in painting and wall-coverings take on a range of home maintenance jobs which include painting floors, roofs, buildings, and walls. They might also be involved in supervising and managing these tasks. Hence, with an upsurge in the demand for residences and homes, comes an increase in the requirement for painting and wall-covering contractors. For example, in March 2023, as stated by the United States Census Bureau, a primary agency of the federal statistical system in the US, February 2023 saw approval for 1,524,000 privately-owned housing units, on a seasonally adjusted annual rate, by building permits. This indicates an increase of 13.8% from the January rate, later adjusted to 1,339,000. Consequently, the escalating demand for housing is fuelling the expansion of the painting and wall covering contractors market.
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What Long-Term Trends Will Define the Future of the Painting And Wall Covering Contractors Market?
The embrace of technologically advanced painting techniques is becoming a significant trend in the painting and wall covering contractors market. Major firms in this industry are emphasizing the use of technologically advanced paints to bolster their market standing. For example, in April 2022, PPG Industries Inc., a US company that specializes in coatings, paints and specialty materials, introduced Copper Armor, a new paint designed to fight viruses and bacteria. This revolutionary interior coating, made with Corning Guardiant copper technology, eradicates 99.9% of germs and viruses within two hours of contact. Copper Armor employs the copper ion technology of Corning Guardiant, an additive which was tested at the University of Arizona's microbiology lab under Dr. Charles Gerba. Research indicates that Guardiant consistently sanitizes walls and eradicates bacteria. The product's recent EPA (Environmental Protection Agency) certification marks the first instance of a Guardiant-enabled product being available in the United States.
What Are the Main Segments in the Painting And Wall Covering Contractors Market?
The painting and wall covering contractors market covered in this report is segmented -
1) By Product Type: Wall Panel, Wall Paper, Tile, Metal Wall Covering, Other Products
2) By Application: New Construction, Renovation
3) By End-User: Residential, Commercial
Subsegments:
1) By Wall Panel: Wood Panels, PVC Panels, MDF Panels, Acoustic Panels
2) By Wall Paper: Vinyl Wallpaper, Non-Woven Wallpaper, Paper Wallpaper, Fabric Wallpaper
3) By Tile: Ceramic Tiles, Porcelain Tiles, Glass Tiles, Natural Stone Tiles
4) By Metal Wall Covering: Aluminum Panels, Steel Panels, Copper Panels, Zinc Panels
5) By Other Products: Decorative Wall Murals, Textured Paints, Wall Decals, Specialty Coatings
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Which Top Companies are Driving Growth in the Painting And Wall Covering Contractors Market?
Major companies operating in the painting and wall covering contractors market include 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., 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
Which Regions Will Dominate the Painting And Wall Covering Contractors Market Through 2029?
Asia-Pacific was the largest region in the painting and wall covering contractors market in 2024. The regions covered in the painting and wall covering contractors market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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