The texture paint market is projected to grow at a CAGR of 4.77% from 2017 to 2022.
The texture paint market is estimated to be USD 8.71 billion in 2017 and is projected to reach USD 10.99 billion by 2022, at a CAGR of 4.77% from 2017 to 2022. This growth can be attributed to the increasing use of texture paints in residential and nonresidential applications. Texture paints increase the thickness of walls by 1.53 mm. However, high repainting costs are acting as a restraint to the growth of the texture paint market.
The nonresidential segment is the fastestgrowing application segment of the texture paint market.
Texture paints are used in residential and nonresidential applications. The nonresidential application includes construction of commercial, industrial, and institutional buildings. The establishment of new businesses and expansion of several existing businesses are driving the need for construction of new industrial and commercial buildings as well as renovation of existing structures. Increasing awareness among consumers regarding the benefits of reconstruction is projected to drive the demand for texture paints in nonresidential application.
The rising demand for texture paints from APAC is a major driver contributing to the growth of the texture paint market.
APAC is estimated to account for the largest share of the texture paint market in 2017, in terms of volume and value. The texture paint market in this region is projected to grow at the highest CAGR between 2017 and 2022, in terms of value. The growth of the APAC texture paint market is mainly driven by increased investments in the building construction industry and economic growth of countries in the APAC region. Rapid industrialization and rise in the purchasing power of consumers are additional factors that have contributed to the growth of the texture paint market in this region.
In the process of determining and verifying the market size for several segments and sub segments gathered through secondary research, extensive primary interviews were conducted. The breakup of primary interviews is given below:
Breakup of Primary Interviews:
By Company Type Tier 1 45%, Tier 2 35%, and Tier 3 20%
By Designation C Level 35%, D Level 25%, and Others 40%
By Region North America 24%, Europe 21%, APAC 42%, Middle East Africa 7%, and South America 6%
Key companies profiled in this report include AkzoNobel Netherlands, PPG Industries US, The SherwinWilliams Company US, Asian Paints India, and Kansai Paint Japan.
Research Coverage:
The texture paint market report covers segmentation by product type interior and exterior, application residential and nonresidential, and region North America, Europe, APAC, the Middle East Africa, and South America. The application segment is further analyzed for each country in the respective regions. The report also provides company profiles and competitive strategies adopted by key players in the texture paint market.
Reasons to Buy the Report:
From an insight perspective, this research report focuses on various levels of analysesindustry analysis industry trends, market share analysis of top players, value chain analysis, and company profiles, which together comprise and discuss basic views on the competitive landscape; emerging and highgrowth segments of the market; high growth regions; and market drivers, restraints, opportunities, and challenges.
The report provides insights on the following pointers:
Market Penetration: Comprehensive information on texture paint offered by leading players in the texture paint market
Product Development/Innovation: Detailed insights on upcoming technologies, research development activities, and new product launches in the texture paint market
Market Development: Comprehensive information about lucrative marketsthe report analyzes the market for texture paint across various regions
Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the texture paint market
Competitive Assessment: Indepth assessment of market shares, growth strategies, product portfolios, and manufacturing capabilities of leading players in the texture paint market