Drywall Textures Market to Witness Comprehensive Growth by 2024

The North America drywall textures market has been envisaged to hold a fragmented characteristic, owing to the fact that top three players, viz. The Sherwin-Williams Company, PPG Corporation, and USG Corporation, had secured a below 33.0% share in 2015. In a publication originated by Transparency Market Research (TMR), expanding geographical presence and product portfolio has been prophesied to be a potential strategy adopted to speed up growth in the market. The Americas, for instance, have witnessed the expansion of The Sherwin-Williams Company with 11 new outlets added in Brazil, 13 in Argentina, and 47 in Mexico.

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Other key players such as 3M and Graco, Inc. could pose a strong competition in the North America drywall textures market. The authors of the report have foreseen a continuing focus on export markets planned by players for the reason that they offer an improved bottom-line growth and higher margins.

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The North America drywall textures market has been anticipated by TMR to expand at a CAGR of 4.5% during the forecast period 2015–2024 to achieve US$1.0 bn by the end of 2024. In 2016, the market had achieved a valuation of US$0.7 bn. Knockdown could be the pick of the texture market as it had accounted for a US$0.2 bn share and a sizable collective share with orange peel in 2015. A leading share of 75.0% in 2015 has been foretold to help the U.S. to continue its dominance until the concluding forecast year.

Fire-resistant and Regular Drywalls Generate Generous Demand

The North America drywall textures market has been anticipated to welcome a bolstered growth on the back of the growing popularity of fire-resistant and regular drywall products. Local building codes implemented for residential constructions in the region could be a major reason for the advancement of fire-resistance drywall in the market. Moreover, it has become mandatory in the region to equip interior and exterior walls near furnaces and utility rooms with fire-rated drywall. The U.S., in particular, could be a significant market for regular drywall as it had demonstrated a telling demand in the recent past.

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Weaker Household Mobility Puts Brakes on Growth

The analysts have prognosticated the North America drywall textures market to be hampered by the reducing demand witnessed on account of a preference shift from self-owned to rental homes. The growth could be further reduced by the lowering demand for drywall textures due to lower household mobility. However, property owners have been predicted to invest appreciably in home enhancement pursuits, owing to the encouragement received from the presence of millennials in the rental market. Besides this, the augment in home appreciations and increasing current house sales could be key for having an optimistic influence on the market. The trend of home appreciation has been envisioned to be considerably prominent in locations where real estate prices are usually on the higher side. In the last five years, average home prices in the U.S. had been appreciated by a 24.0% and 8.0% in 2015.

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This release was published on openPR.