Texture Paint Market Size (2024 – 2030)

The Global Texture Paint Market Size was valued at USD 11.54 Billion in 2023 and is expected to reach USD 16.17 Billion by 2030 growing at a CAGR of 4.94% over the forecast period 2024-2030.

Textured paint stands out as a prevalent painting style in contemporary applications. Its thickness eliminates the necessity for priming, contributing significantly to its popularity. Available in a diverse array of colors, textured paint serves various purposes, effectively concealing imperfections like irregularities, fractures, and holes on walls or ceilings. Renowned for its durability, textured paint facilitates the masking of flaws and allows for the creation of unique and imaginative wall designs. In contrast to flat paint, texture paint presents a slightly more textured and gritty appearance, lending walls a rustic feel. Its artistic and unassuming or detailed aspects readily capture attention. Additionally, texture paints exhibit resistance to heat, water, wind, and UV rays, ensuring an extended lifespan. Application is straightforward, requiring no specialized techniques, and the associated maintenance costs are comparatively low. The introduction of texture paints imparts a renewed character to living spaces. With features such as opacity and varied gloss levels, texture paints find optimal use in outdoor applications.

Key Market Insights:

The global Texture Paint Market is experiencing growth driven by heightened demand across diverse end-user sectors, notably the building and construction industry. A surge in texture paint utilization for interior decoration in residential settings contributes significantly to market expansion. The need for texture paint in residential structures, whether for initial painting or repainting, emerges as a major driver propelling market growth. The application of texture paints to enhance the aesthetic appeal of walls and surfaces is pivotal in both residential and commercial construction, thereby augmenting demand.

Furthermore, the automotive sector incorporates texture paints to confer unique textures and finishes to cars, aligning with the expanding trend of customization among car owners. This trend, marked by a pursuit of innovative methods to alter vehicle appearances, is fostering increased demand for texture paints in the automotive industry. The furniture sector emerges as another substantial end-user, where texture paints are employed by furniture makers to bestow a distinctive finish, distinguishing their products in the market.

The outlook for texture paints foresees sustained growth, buoyed by increasing demand from diverse end-user industries, including building and construction, automotive, and furniture. Factors such as rising per capita income and improved standards of living contribute positively to the growth of the Global Texture Paint Market. The surge in homeownership is anticipated to further propel market expansion. However, the market faces challenges, with the high price of texture paints compared to conventional alternatives posing potential setbacks for growth.

Global Texture Paint Market Drivers:

The upswing in population and concurrent escalation in construction activities propel the market forward.

The expanding populace has generated heightened demand for both commercial and residential constructions. Concurrently, government backing plays a pivotal role in fostering construction activities, contributing significantly to the overall advancement of the global texture paint market. Illustratively, initiatives such as India's 'Housing for All by 2022' and '100 Smart Cities' projects, supported by the Indian Government, are expected to invigorate the residential construction market in India in the coming years, consequently propelling growth in the texture paints market. Additionally, the British government's introduction of the 'ENABLE Build Programme' in 2019, designed to offer financial support to smaller house builders for contributing to the country's infrastructural development, serves as another noteworthy driver.

Growing consumer inclination towards aesthetically appealing walls stands as a pivotal factor propelling market expansion.

Texture paints present a convenient means of enhancing the visual appeal of walls. Their efficacy in withstanding water, wind, UV rays, and abrupt temperature changes underscores their attractiveness. As an interior paint, texture paints exhibit remarkable resistance to issues such as sagging, peeling, flaking, and the growth of fungi and algae. Offering a broad spectrum of varieties, from mirror-polished smoothness to robust roughness, these paints necessitate minimal maintenance due to their exceptional durability and resistance to abrasion. The amalgamation of these features positions texture paint for anticipated growth throughout the forecast period.

Global Texture Paint Market Restraints and Challenges:

Concerns pertaining to volatile organic compound (VOC) exposure pose potential obstacles to market growth.

Despite extensive use in both residential and non-residential sectors, the inclusion of volatile organic compounds (VOC) in texture paints acts as a limiting factor for overall market expansion. VOC exposure can lead to adverse health effects such as nausea, headaches, kidney damage, and irritation of the eyes and throat. Furthermore, regulatory bodies are enforcing stringent policies to mitigate the impact of VOC on human health. For instance, the Ozone Transport Commission (OTC) has established measures to reduce VOC limits, aligning with the clean air requirements set by the Environmental Protection Agency (EPA), thereby impeding the growth of the global texture paint market. Additionally, the comparatively higher cost associated with texture paint in comparison to conventional alternatives hampers the overall growth of the global texture paint market. The dearth of skilled manpower and the extended application time further pose challenges to market expansion.

Global Texture Paint Market Opportunities:

Texture paints offer the advantage of concealing irregular surfaces while safeguarding wall surfaces from potential damage. In terms of pricing, they are comparable to wallpaper and present a vast array of patterns achievable through combining various colors. Consequently, the aesthetic and functional attributes of these paints are anticipated to propel the textured paints market in future projections. The burgeoning construction industry in emerging economies, notably India and China, is expected to open profitable avenues for the expansion of the global textured paint market. The vigorous construction and renovation of both residential and non-residential structures are likely to elevate the demand for paint and siding products, which, in turn, is predicted to fuel market growth globally during the forecast period. Additionally, governmental policies that foster economic development in these developing nations are resulting in an upswing in architectural and industrial activities. This trend is expected to hasten the growth of the global texture paint market in the forthcoming period.

TEXTURE PAINT MARKET REPORT COVERAGE:

Global Texture Paint Market Segmentation: By Product Type

• Sand Texture Paint

• Smooth Texture Paint

• Other Texture Paint Types

The worldwide texture paint market is categorized into sand, smooth, and other types based on product characteristics. In 2023, the sand segment is expected to contribute significantly to the revenue. The popularity of sand texture paints has grown owing to their distinctive grainy finish, providing interior and exterior surfaces with a rustic and natural appearance. Notably, these paints are resilient and ideal for high-traffic areas like commercial buildings, effectively concealing surface flaws, fractures, and other imperfections. In the same year, the smooth category is projected to experience a substantial increase in its revenue share in the global texture paint market. Recognized for their crisp, glossy finish, smooth texture paints add sophistication and opulence to various spaces, making them a preferred choice in high-end residential and commercial constructions. Their ability to create an airy feel in small spaces and ease of maintenance are expected to drive their popularity.

Global Texture Paint Market Segmentation: By Application

• Residential

• Commercial

• Industrial

Residential, commercial, and industrial applications constitute distinct segments in the global texture paint market. In 2023, the residential sector is poised to contribute significantly to the total revenue. The trend towards personalized finishes on both interior and exterior surfaces has boosted the demand for texture paints in residential applications. Texture paints, known for providing homes with a distinctive and personalized appearance, are favored by homeowners seeking to impart individuality and charm. Moreover, their exceptional durability and ability to conceal surface flaws make them an excellent choice for residential settings.

Simultaneously, the commercial sector is anticipated to witness rapid growth in its revenue share in the global texture paint market in 2023. Commercial spaces such as hotels, restaurants, and offices require finishes that are aesthetically pleasing, functional, and durable. Texture paints are well-suited for commercial applications, offering various finishes like slip-resistant, fire-resistant, and anti-graffiti options. Additionally, these paints allow for the creation of eye-catching patterns and designs, infusing business areas with a sense of originality and creativity.

Global Texture Paint Market Segmentation: By Region

• North America

• Asia-Pacific

• Europe

• South America

• Middle East and Africa

The segmentation by region includes North America, Asia-Pacific, Europe, South America, and the Middle East and Africa. In terms of revenue, the Asia-Pacific region dominated the texture paint market in 2023. The region is expected to experience substantial growth in the coming years, fueled by increased building activity in developing nations like China, India, and ASEAN countries. The urbanization, rising disposable income, and expanding population in the region contribute to the growing demand for texture paints. Access to affordable labor and raw materials further facilitates the production of cost-effective texture paints, gaining popularity among consumers.

North America's market is anticipated to grow at a moderate rate due to increasing demand for environmentally friendly and sustainable products. Consumer preferences in the region favor non-toxic and environmentally friendly texture paints. The high standard of living and the expanding building sector are additional factors expected to drive the demand for texture paints. The rising desire for home improvement projects among homeowners further fuels the texture paint market in North America.

The Europe market is poised for steady expansion during the projection period. Decorative and textured paints are gaining popularity over traditional paints in the region. The growth of the building sector, particularly in countries like Germany, France, and the UK, is a key driver for the demand for texture paints. Additionally, the increasing number of rehabilitation and restoration projects in historic structures and sites contributes to the rising demand for texture paints in Europe. The market's expansion is further propelled by the growing demand for sustainable and eco-friendly texture paints in the region.

COVID-19 Impact Analysis on the Global Texture Paint Market:

For numerous global enterprises, the impact of COVID-19 has been notably disruptive, and the texture paint market is no exception. Over the past two years, the global texture paint market has witnessed historically low levels of demand for both raw materials and paints. While paint production units have resumed stable operations, certain paint producers remain apprehensive about fluctuating case numbers and diminishing demand. The ongoing impact of the second wave of COVID-19 in specific regions, coupled with the looming threat of a third wave, creates a complex scenario.

Despite these challenges, the paint industry exhibits potential for growth driven by sustained demand, the adoption of secure painting solutions, and the evolution of regional markets. There is an increasing demand for non-premium products such as putty and distempers, accompanied by a steady transition from unorganized to organized markets for related products. This trend contributes to the industry's resilience and prospects for expansion.

Recent Trends and Developments in the Texture Paint Market:

In April 2022, AkzoNobel N.V. completed the strategic acquisition of Kansai Paint’s operations, aiming to enhance their footprint in the paint and coatings sector across Africa, thereby establishing a robust foundation for future expansion in the region.

September 2022 witnessed Hempel A/S acquiring the retail network of Cap Couleurs Group in the Southeast, marking a significant expansion in their retail presence.

Key Players:

1. Asian Paints Ltd.

2. Akzo Nobel N.V.

3. Nippon Paint Holdings Co., Ltd.

4. Berger Paints India Limited

5. PPG Industries, Inc.

6. Kansai Paint Co., Ltd.

7. The Sherwin-Williams Company

8. RPM International Inc.

9. DuluxGroup Limited

10. BASF SE