Texture Paint Market

The Texture paint market is projected to grow from USD 12.5 billion in 2022 to USD 16.2 billion by 2028, at a CAGR of 4.4%. Texture paint industry is categorized into two end use application: residential and non-residential. residential application accounts the largest share of texture paint market. Texture paints are gaining popularity because of its features such as realistic texture, creative expression, versatility, depth and dimension, and popularity in various art style. Paints and coatings sector is one of the most strictly regulated sector in the world and texture paint  has low VOC emissions, and prduces less environmental damage these factors are positively supporting the texture paint market growth. Texture paint market is mainly dominated by few large players but there are many manufatueres of texture paint at regional level. India and China have rapidly growing economies with large populations, which present significant market potential for various industries, including the paint and coatings sector. Expanding operations in these countries allows companies to tap into the increasing demand for texture paint and other related products, also India and China are known for their relatively lower production and labor costs compared to many Western countries. Multinational companies can take advantage of these cost efficiencies by establishing manufacturing facilities or outsourcing production in these regions, which can help reduce overall production costs and enhance profitability.

Attractive Opportunities in Texture Paint Market

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Texture Paint Market Dynamics

Driver: the construction industry continues to thrive, the demand for texture paint is likely to increase due to its ability to enhance the appearance, protect surfaces, and provide design flexibility. This creates opportunities for manufacturers, suppliers, and professionals in the texture paint market to cater to the needs of the construction sector.

Economic growth and rising earnings often result in the emergence of the middle class. As more people join the middle-income category, their expectations for their standard of living rise. Texture paint allows homeowners to improve the appearance of their houses without undergoing extensive building work. Demand for texture paint is being driven by a growing middle class with more purchasing power.

Restraints: Texture paint can be more expensive than standard paint due to the additional materials and specialised procedures required to create textured surfaces. This additional cost may prevent economical buyers from selecting texture paint over less expensive options.

Texture paint is most commonly applied to walls and surfaces with sufficient texture or irregularities to create the desired effect. Smooth surfaces may need extra preparation, such as the application of texture-enhancing chemicals or primers, which can increase the total time and expense of the procedure. This constraint in application surfaces might limit the market's prospective consumer base.

Opportunity: the demand for high performance texture paint is growing because of its exceptional aesthetic appeal, chemical and weather resistance. Texture paint not only enhances aesthetics but also provides protection and durability to surfaces. The textured coating acts as a barrier against weather elements, moisture, and wear and tear, thereby extending the lifespan of walls and surfaces. This advantage appeals to customers looking for long-lasting solutions that can withstand various environmental conditions. Texture paint can successfully conceal surface flaws such as cracks, dents, and unevenness. By creating textured finishes, it helps hide flaws that would otherwise require extensive surface preparation or repairs. This feature is especially appealing to consumers looking for cost-effective ways to improve the appearance of their rooms without requiring costly modifications.

Challenges: Texture paint is often applied in thicker applications than standard paint. The desired texture effect on the surface is created by the texture particles, additives, or aggregates in the paint. The texture paint can add a modest to substantial thickness to the wall depending on the texture type, application technique, and number of coats used. Textured surfaces might be more difficult to clean and maintain than smooth ones. The presence of complex patterns, deep cracks, or porous textures can trap dirt, making cleaning and maintenance more time-consuming and labor-intensive.

Based on Resin, acrylic resin  is estimated to register highest CAGR during the forecast period

Acrylic resin is widely used in texture paint formulations due to its favorable properties and versatility such as Excellent Adhesion and Durability, Fast Drying and Low Odor, Environmental Benefits, and Wide Range of Formulations. Acrylic resin provides excellent adhesion to various surfaces, including concrete, masonry, wood, and metal. This property ensures that the texture paint adheres well to the substrate, resulting in a long-lasting and durable finish. Acrylic-based texture paints are known for their resistance to cracking, peeling, and weathering, making them a preferred choice for both interior and exterior applications.

Asia Pacific market is estimated to register highest CAGR during the forecast period.

Asia Pacific is expected to lead the texture paint market in 2022. China and India have witnessed substantial investment in construction and infrastructure projects to support their growing economies. The construction industry's expansion creates a demand for texture paint, as it is widely used in both residential and non-residential projects to enhance aesthetics, provide protective coatings, and meet design requirements. The increasing investment in infrastructure development directly drives the demand for texture paint. China and India are experiencing rapid urbanization, leading to increased demand for housing and commercial spaces. The real estate sector, driven by urban development and population growth, fuels the need for texture paint as a decorative and functional solution. The desire for unique finishes and textured surfaces in urban areas drives the demand for texture paint products.

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Key Market Players

The texture paint market is dominated by a few globally established players such as The Sherwin-Williams Company (US), AkzoNobel N.V. (The Netherlands),  PPG Industries, Inc (US), Asian Paints Limited (India), Kansai Paint Co., Ltd (Japan), Nippon Paint Holding Co., Ltd (Japan), among others, are the key manufacturers. Major focus was given to the mergers & acquitions, and new product development due to the changing requirements of end industry  users across the globe.

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Scope of the Report

Based on resin type, the texture paint market has been segmented as follows:

• Acrylic
• Others

Based on technology, the texture paint market has been segmented as follows:

• Water based
• Solvent based

Based on product type, the texture paint market has been segmented as follows:

• Interior
• Exterior

Based on application, the texture paint market has been segmented as follows:

• Residential
• Non-residential

Based on the region, the texture paint market has been segmented as follows:

• Asia Pacific
• Europe
• North America
• Middle East & Africa
• South America

Recent Developments

• In June 2021, PPG acquired Tikkurila. This is expected to help the company to expand paint and coating options that are expected to now include Tikkurila’s texture paints.
• In April 2022, AkzoNobel N.V. Acquiring Kansai Paint’s activities in the region will help us to further expand our paints and coatings business in Africa and provide a strong platform for future growth
• In September 2022, Hempel A/S, has acquired the Cap Couleurs Group’s store network in South-East France, maintaining Hempel’s segment leadership in the Var region and supporting its growth initiatives.

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