Newly released Faux Paints And Coatings Market analysis report by Future Market Insights shows that global sales of Faux Paints and Coatings Market in 2021 was held at USD 7.2 Billion.
With 6.3%, the projected market growth during 2022 to 2032 is expected to be significantly higher than the historical growth. With 7% projected CAGR during 2022 to 2032, revenue through plasters is expected to grow at the highest pace.
| Attributes | Details |
|---|---|
| Faux Paints and Coatings Market CAGR (2022 to 2032) | 6.3% |
| Faux Paints and Coatings Market Size (2022) | USD 2.1 Billion |
| Faux Paints and Coatings Market Size (2032) | USD 4.2 Billion |
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Faux Paints and Coatings have gained popularity as the frequency of rehabilitation projects has increased, both for adding aesthetic value and for reinforcing existing infrastructures.
Faux finish coating producers have witnessed a surge in revenue in the recent years due to growth in demand for different interior décor applications such as walls, doors, panels, handrails, among others.
Owing to this, demand for Faux Paints and Coatings is expected to rise at a CAGR of more than 6% from 2022 to 2032, taking the projected revenue to nearly USD 14 Billion by 2032.
With the surge in construction industry, the demand for Faux Paints and Coatings is on surge. According to the International Trade Administration, the United States has had a trade surplus in Architecture, Engineering, and Construction (AEC) services since 2010, with a total value of USD 7.5 Billion in 2019.
The figures suggest that US AEC service exports reached USD 15.9 Billion, while imports totaled USD 8.3 Billion.
With more than USD 625 Million in exports, the market in Asia Pacific accounted for about 60% of USA architectural services, while Europe was the second biggest export market, accounting for 16% of USA exports, valued at more than USD 170 Million.
This demonstrates the significant development potential for faux finish coating producers not just in the United States, but across the world.
Over the past decade, demand for Faux Paints and Coatings has been growing steadily in the industrial, commercial, and residential sectors. While demand for coatings that imitate the look of materials such as metal, marble, or stone continues, growth in consumer demand is forecast for future years, providing ample opportunities for industry leaders.
The rehabilitation of ageing residential spaces, as well as the rising desire to enhance the look of commercial spaces, are both having an influence on the sales of Faux Paints and Coatings.
The increased number of building, construction, and restoration projects in the residential, industrial, commercial, and other sectors is pushing up worldwide demand for Faux Paints and Coatings.
According to Invest India, India's National Investment Promotion and Facilitation Agency, the country will have the third-largest construction industry by 2025. From 2015 to 2020, the Indian government spent around USD 454.8 Billion on infrastructure building, according to the study.
According to studies conducted by the United Kingdom Government, the construction industry in the UK has been steadily growing and is on course to capture a piece of the estimated EUR 200 Billion per year global market for integrated city systems by 2030. These factors indicate to a rise in demand for Faux Paints and Coatings.
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From 2022 to 2032, North America is expected to account for the lion's share of the global Faux Paints and Coatings market in terms of revenue. The need for Faux Paints and Coatings in the North American construction industry is rapidly increasing owing to growing consumer and commercial expenditure on construction.
Finishing using Faux Paints and Coatings is quick and easy. It also lowers labor costs and efforts while increasing aesthetics. These factors are boosting the Faux Paints and Coatings market in North America.
The United States is expected to lead the Faux Paints and Coatings market with a CAGR of more than 6% between 2022 and 2032. The country's sophisticated commercial and residential construction sector, as well as a surge in demand from the architectural sector, have been fuelling the country's increasing faux finish coating revenue.
Google announced in February 2019 that it would invest USD 13 Billion in offices and data centres across the United States, in states other than its traditional home of California, including Nebraska, Nevada, Ohio, Texas, Oklahoma, South Carolina, and Virginia. Large projects such as these are likely to expand the market in the country.
Germany is projected to be a lucrative market for Faux Paints and Coatings in the forthcoming years owing to the continued growth of the building and construction industry, as well as a rising preference for interior design and furnishings.
According to a report published by European Commission in June 2018, entitled "European Construction Sector Observatory", around 650,813 enterprises were operational in the broad construction sector in Germany in 2014.
Majority of them were micro, small, and medium-sized enterprises. Between 2010 and 2016, construction production increased at an annual rate of 10.4 % per year in Germany.
This information demonstrates why imitation finish coating manufacturers are concentrating their efforts in Germany in order to grow their sales footprint. According to projections, the German market will have a revenue share of more than 45 %.
The fast growth of the construction sector and availability of raw materials and personnel, are driving demand for Faux Paints and Coatings in India. The market in India is predicted to expand at a CAGR of more than 6.7%. According to Invest India, India's construction industry is rapidly increasing, and the real estate sector is predicted to attract USD 5 Billion in institutional investment by 2022.
According to the study, the construction sector in India contributed 9% of the country's GDP in 2018, with new investments in road infrastructure totaling USD 16.6 Billion.
Due to a sophisticated construction industry and an expansion in the number of highly developed industrial centres, China has stayed in the limelight for manufacturers of Faux Paints and Coatings.
According to the National Bureau of Statistics (NBS), the construction industry in China is progressively growing at an average annual rate of 16.6%, with the number of construction businesses quickly expanding, reaching more than 300,000.
As a consequence, in recent years, China has gained the attention of suppliers of faux finish coating. As a consequence, China is expected to outperform a market value of USD 2 Billion over the forecast year.
Plasters segment is forecasted to grow at the highest CAGR of over 7% during 2022 to 2032. Wall glazing fake finish coatings are currently leading the market and are predicted to fuel manufacturer expansion due to their high demand. This category is expected to account for about 2/5th of the worldwide demand.
Owing to its unique qualities, such as boosting thermal efficiency and improving the overall look of walls, this kind is highly sought in industrial, commercial, and even residential sectors. Furthermore, it lets natural light to permeate deeper into the structure.
Some of the key players operating in Faux Paints and Coatings market include The Sherwin-Williams Co., Nippon Paint Holdings Co., Axalta Coating Systems, Kansai Paint Co. Ltd., Faux Effects International, Jotun, PPG, AkzoNobel, RPM International Inc., BASF Coatings, and Asian Paints Ltd.
Similarly, recent developments related to companies Faux Paints and Coatings services have been tracked by the team at Future Market Insights, which are available in the full report.
| Attributes | Details |
|---|---|
| Forecast Period | 2022 to 2032 |
| Historical Data Available for | 2017 to 2021 |
| Market Analysis | USD Billion for Value |
| Key Regions Covered | North America; Latin America; Europe; Asia Pacific; Middle East & Africa |
| Key Countries Covered | United States, Canada, Brazil, Mexico, Germany, UK, France, Spain, Italy, Russia, China, Japan, South Korea, India, Australia, South Africa, Saudi Arabia, UAE and Israel. |
| Key Market Segments Covered | Type, Application, Region |
| Key Companies Profiled | The Sherwin-Williams Co.; Nippon Paint Holdings Co.; Axalta Coating Systems; Kansai Paint Co. Ltd.; Faux Effects International; Jotun; PPG; AkzoNobel; RPM International Inc.; BASF Coatings; Asian Paints Ltd. |
| Pricing | Available upon Request |
The global Faux Paints and Coatings Market is worth more than USD 7.6 Billion at present.
Value of Faux Paints and Coatings Market are projected to increase at a CAGR of around 6.3% during 2022 to 2032.
Value of Faux Paints and Coatings Market increased at a CAGR of around 5.7% during 2017 to 2021.
Rise in demand for advanced coating materials and increase in adoption of Faux Paints and Coatings in construction applications, led by their decorative paint finishes and ability to provide easy, and smooth finishing, are major factors projected to drive the global Faux Paints and Coatings market during the forecast period
The market for Faux Paints and Coatings Market in China is projected to expand at a CAGR of around 8.1% during 2022 to 2032.
While the market in South Korea is expected to grow at nearly 8.2%, the market in Japan is projected to register a CAGR of nearly 6.7% during 2022 to 2032.
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