Faux Finish Coatings Market Share, Size, Trends, Industry Analysis Report, By Coating Type (Plaster, Metallic, Wall Glazing, and Marbleizing); By Technology; By Application; By Region; Segment Forecast, 2023 - 2032
- Published Date:Aug-2023
- Pages: 116
- Format: PDF
- Report ID: PM3721
- Base Year: 2022
- Historical Data: 2019-2021
Report Outlook
The global faux finish coatings market was valued at USD 2,055.79 million in 2022 and is expected to grow at a CAGR of 6.5% during the forecast period.
The rising need demand and popularity of esthetically appealing interiors and growing people's interest in incorporating various decorative elements which help enhance the overall esthetics of their living spaces, coupled with the growth in the number of customers opting for sustainable and eco-friendly materials, are key factors influencing the demand and development of the market. In addition, the growing preference for marbleizing finish as an effective and affordable option to achieve a luxurious and elegant look and introduction to more improved and developed coating technologies by manufacturers globally is likely to create huge growth potential for the market.
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For instance, in May 2023, PPG announced that the company would deliver paint & clear film solutions, particularly for automotive & industrial customers, with the help of PPG Advanced Surface Technologies. The new range of paint films offers numerous environmental benefits, including lower energy consumption & more unique aesthetic options.
Moreover, integrating smart technologies into faux finish coatings and developing smart coatings, which can change color, texture, or transparency in response to several external factors like temperature, light, or electric signals, is a major emerging trend gaining traction worldwide. These coatings further enable interactive and dynamic surfaces, allowing for innovative design possibilities and functional applications, creating lucrative growth opportunities for the market.
The outbreak of the COVID-19 pandemic has significantly impacted the growth of the faux finish coatings market. The emergence of the deadly virus has resulted in significant disruptions in global supply chains and led to delays in various construction and renovation projects. With the spread of the pandemic, consumers have become more cautious about their expenses and have limited their expenditure on construction and development activities.
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Industry Dynamics
Growth Drivers
Rapidly increasing investment for the maintenance
The rapidly increasing investment for the maintenance and upgradation of aging infrastructure across both developed and developing economies, improving people's living standards, and constant changes in consumer preferences and purchasing habits, inclined towards sustainable and eco-friendly solutions, are the primary factors driving the global market growth. These coatings further help reduce the need for harvesting natural resources and minimize waste generation associated with traditional construction and remodeling processes, thereby gaining significant adoption worldwide.
Furthermore, the drastic rise of online retail and e-commerce platforms globally allows manufacturers and suppliers of faux finish coatings to reach a broader customer base. Additionally, establishing a strong online presence, offering product information, tutorials, and online purchasing options, allows them to attract consumers who prefer the convenience of online shopping or are located in areas with limited access to physical stores, thereby positively impacting the market.
Report Segmentation
The market is primarily segmented based on coating type, technology, application, and region.
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By Coating Type |
By Technology |
By Application |
By Region |
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By Coating Type
Wall glazing segment accounted for the largest market share in 2022
The wall glazing segment accounted for the largest market share in 2022 and is likely to retain its market position throughout the anticipated period; that is mainly driven high preference for these coating types across all types of sectors, including industrial, commercial, and residential, because of its qualities like offering thermal efficiency and ability to enhance the aesthetic appeal of walls. Additionally, the versatility of wall glazing coating, which allows for creativity in design and can be used to improve the appearance of different architectural styles, from contemporary to traditional, is likely to influence the market growth positively in the forecast period.
The plaster segment is anticipated to gain substantial market share with a healthy growth rate over the next coming years due to their beneficial characteristics like capabilities to withstand wear and tear, resist cracking or chipping, and provide a protective layer to the underlying surfaces along with the growing usage of plaster in restoration and renovation projects, particularly in historic buildings or structures.
By Technology
Powder-based segment expected to hold significant market share during forecast period
The powder-based segment is projected to account for a significant market share in terms of revenue over the study period, which is mainly driven by its numerous advantageous features, including high resistance to impact, abrasion, chemicals, and UV radiation, which makes them suitable for various applications including faux finish coatings, where longevity and durability are crucial.
In addition, growing technological advancements across the globe have led to the development of innovative powder-based coating formulations offering enhanced features such as improved adhesion, flexibility, and texture options and an increasing number of manufacturers investing in research and development activities to create powder coatings with advanced properties, while expanding the application possibilities for faux finish coatings, is further propelling the market.
By Application
Furniture segment is expected to witness highest market growth during forecast period
The furniture segment is projected to grow significantly during the anticipated period, mainly accelerated by its rapidly increasing adoption as an effective or affordable alternative to natural materials. It is also relatively easy to apply and maintain compared to traditional finishes. With the increasing awareness of sustainability and eco-friendly practices, consumers are seeking furniture that minimize environmental harm. Thus, the demand for faux finish coatings has gained significant traction recently.
The building & construction segment led the industry market with substantial revenue share in 2022 on account of an increasing number of remodeling and renovation projects, especially in emerging economies like China and India, and the growing prevalence of these coatings as an environment-friendly alternative to traditional construction materials all over the world.
Regional Analysis
North America region dominated the global market in 2022
The North American region dominated the global market with a significant market share in 2022 and is projected to maintain its dominance throughout the forecast period. The regional market growth can be mainly attributed to the rapid expansion of the construction industry and increasing spending on home renovation or remodeling projects in countries like the US and Canada, coupled with the surge in the number of consumers who are increasingly looking for unique and visually appealing interior and exterior finishes.
The Asia Pacific region is likely to be the most lucrative market with a healthy growth rate during the study period, owing to several factors, including the rapid pace of urbanization, increasing consumer disposable income, shift towards sustainable products, cultural significance, and exponential growth in the construction industry. Besides this, many government authorities across the APAC region are implementing supportive policies and regulations to promote sustainable construction practices and environmentally friendly products, pushing the market growth forward.
Competitive Insight
The Faux Finish Coatings market is fragmented and is anticipated to witness competition due to several players' presence. Major service providers in the market are constantly upgrading their technologies to stay ahead of the competition and to ensure efficiency, integrity, and safety. These players focus on partnership, product upgrades, and collaboration to gain a competitive edge over their peers and capture a significant market share.
Some of the major players operating in the global market include:
- Adicolor Inc.
- Anvil Paints & Coatings
- Asian Paints
- Benjamin Moore
- Berger Paints
- Crescent Bronze
- DuROCK Alfacing International
- Faux Effects International
- Modern Masters
- Multicolor Specialties
- Old Western Paint
- Pratt & Lambert Paints
- Roman Decorating Products
- The Valspar Corporation
Recent Developments
- In October 2022, Graphenstone, announced the launch of its Autumn Winter 2022 colour edit, featuring a wide range of dark shades that can be easily combined to create a large range of different color effects in home. The newly developed color edit also combines CO2 absorption, extreme durability, air purification, and washability.
- In January 2021, Nippon Paint Holdings, introduced its new product FASTAR, which incorporates for first time a hydrophobic and hydrophilic nanodomain structure through using a unique nano-technology.
Faux Finish Coatings Market Report Scope
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Report Attributes |
Details |
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Market size value in 2023 |
USD 2,185.09 million |
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Revenue forecast in 2032 |
USD 3,864.39 million |
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CAGR |
6.5% from 2023 – 2032 |
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Base year |
2022 |
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Historical data |
2019 – 2021 |
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Forecast period |
2023 – 2032 |
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Quantitative units |
Revenue in USD million and CAGR from 2023 to 2032 |
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Segments covered |
By Coating Type, By Technology, By Application, By Region |
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Regional scope |
North America, Europe, Asia Pacific, Latin America; Middle East & Africa |
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Customization |
Report customization as per your requirements with respect to countries, region and segmentation. |
FAQ's
The global faux finish coatings market size is expected to reach USD 3,864.39 million by 2032.
Key players in the faux finish coatings market are
Adicolor Inc., Anvil Paints & Coatings, Asian Paints, Benjamin Moore, Berger Paints.
The global faux finish coatings market is expected to grow at a CAGR of 6.5% during the forecast period.
The faux finish coatings market report covering key segments are coating type, technology, application, and region.
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