Texture Paints Market Estimated to Experience a Hike in Growth by 2024
Global Texture Paints Market: Overview
The continual evolution of the paint industry to deliver higher aesthetic and functional value has proliferated the demand for texture paints over the recent past. Texture paint refers to the textured feel and appearance on the exterior on interior walls of commercial or residential structures for an elegant look. Texture paints have added resins and additives to safeguard the texture even when the after the paint dries, which make them different from normal paints. The unique texture pattern embossed on the surface remains intact for long span of time.
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The report provides a granular analysis of the market dynamics will impact the development of the global texture paints market between 2016 and 2024.
Global Texture Paints Market: Trends and Opportunities
The high aesthetic value of texture paints along with their affordable cost is driving the global texture paints market. This, along with the growth in interior designing and increasing demand for home interiors is expected to fuel the growth of the texture paints market. Texture paints have certainly been distinguishable in the present home decorations segment. The unparalleled visual effects that can be created using texture paints offsets their high cost over regular paints. Additionally, several companies have color experts to provide assistance about pattern and paint selection, which includes stucco, metallic, drizzle, sand, and whirl.
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Texture paints extend the advantage of covering uneven surfaces and protecting the wall surface from damage. Not only this, texture paints have prices comparable to wallpaper and offer an extensive range of patterns that can be created using a mix of various colors. Thus, the aesthetic and functional value associated with these paints is expected to drive the texture paints market in the future.
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Global Texture Paints Market: Regional Outlook
The global texture paints market is broadly divided into the regional segments of North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America. The emerging economies of Asia Pacific are expected to present lucrative opportunities to the texture paints market over the coming years. The rising middle class population that are spending huge sums on home decoration is resulting in an increased customer base for these products in these countries. Moreover, the massive rise in the number of commercial and residential complexes across. Additionally, the rapid economic development in countries such as China, India, Thailand, and Malaysia along with rising disposable incomes has further multiplied the demand for texture paints in the region. Hence, Asia Pacific is expected to be the most promising market for texture paints over the forecast period.
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The steady growth of the construction sector in developed regions post the economic slump of 2007 is expected to display demand for texture paints, thereby further boosting the texture paints market. In addition, the growth of interior designing in developed regions is expected to bode well for the texture paints market over the report’s forecast period.
Global Texture Paints Market: Competitive Landscape
Some of the key companies in the global texture paints market include Akzonobel, Berger Paints, Kansai Neroloac Paints Ltd., Andura Coatings, Nippon Paint Group, Asian Paints, Spectra Texture Wall Coating Pvt. Ltd., Diamond Paints, and Valspar.
The key players operating in the market are largely focused on emerging countries for tapping growth opportunities that are present herein. The top players are also strategizing for capacity expansion in developing countries such as India and China to serve the swiftly growing demand for texture paints.
