According to Future Market Insights, a market research and competitive intelligence provider, global faux paints and coatings consumption has increased at a CAGR of roughly 5.7% over the last half-decade. The global faux paints and coatings industry sales are valued at USD 2.1 Billion in 2022 and are expected to reach USD 4.2 Billion by 2032, expanding at a CAGR of 6.3% between 2022 and 2032.
Demand for material-based adhesives is increasing in public and private applications for superior finishes, and a growing acceptance of authentic synthetic finishes, especially in emerging economies, is anticipated to increase the development of the global artificial finish coatings market over the coming decade.
New residential and non-residential developments, particularly in emerging regions, have an impact on the growth of the Faux Paints and Coatings industry. The desire for house décor and painting is projected to fuel demand for fake coatings.
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Key Takeaways from the Market Study
- Faux Paints and Coatings Market was valued at US$ 7.2 Billion in 2021. According to Future Market Insights, Faux Paints and Coatings Market revenue would increase 1.8X between 2022 and 2032, reaching roughly US$ 6.4 Billion in 2032.
- In terms of Type, revenue through Plasters is expected to accounts for the highest projected CAGR of over 7%.
- In terms of Application of Faux Paints and Coatings, Building and Construction accounts for the highest CAGR of 6.2% during the historic period (2017-21).
- The USA is the dominant region in Faux Paints and Coatings Market with an absolute dollar growth opportunity of over US$ 2.2 Billion.
Plasters had the largest market share in 2021, accounting for about 30% of the market. Throughout the projected period, this product segment is likely to dominate the worldwide market.
Winning Strategy
Because of their greater bond than powder compounds, Faux Paints and Coatings are widely used in the residential sector. In the near future, the worldwide Faux Paints and Coatings market is expected to be driven by an increase in the use of Faux Paints and Coatings as bonding agents in the building sector.
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.
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Competitive Environment
The worldwide Faux Paints and Coatings industry is fragmented and reliant on a few significant players. To maintain their top positions, these important firms are stressing the development of increasingly innovative and diverse goods.
• In 2021, Faux Effects International Inc. announced the release of WALL SILK in 2021, a one-of-a-kind Faux Effects decorative coating that, when combined with ShimmerCoat, evokes the look, feel, and elegance of raw silk and other magnificent materials.
• In 2020, PPG Industries, Inc. announced that it will introduce a new line of fake finish coatings in a variety of neutral hues.
Market Segments Covered In Faux Paints And Coatings Market Analysis
By Type:
- Plasters
- Metallics
- Wall Glazing
- Marbleizing
- Other Types
By Application:
- Building & Construction
- Furniture
- Other Applications
By Region:
- North America
- Latin America
- Europe
- APAC
- MEA
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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Website: https://www.futuremarketinsights.com
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