Faux Paints and Coatings Industry Size, Share, Demand & Growth by 2032
The global Faux Paints and Coatings market is valued at US$ 2.1 Billion in 2022 and is expected to reach US$ 4.2 Billion by 2032, expanding at a CAGR of 6.3% between 2022 and 2032. 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.
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 account for the
highest projected CAGR of over 7%.
- In
terms of the Application of Faux Paints and Coatings, Building and
Construction accounts for the highest CAGR of 6.2% during the historic
period (2017-21).
- The
US is the dominant region in the 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.
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 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.
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at Future Market Insights (FMI)
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