DUBLIN, July 6, 2021 /PRNewswire/ — The “Faux Finish Coatings – Global Market Trajectory & Analytics” report has been added to ResearchAndMarkets.com’s offering.
The global market for Faux Finish Coatings estimated at US$6.7 Billion in the year 2020, is projected to reach a revised size of US$9.2 Billion by 2026, growing at a CAGR of 5.4% over the analysis period.
Plasters, one of the segments analyzed in the report, is projected to grow at a 5.6% CAGR to reach US$3.3 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Metallics segment is readjusted to a revised 5.9% CAGR for the next 7-year period.
This segment currently accounts for a 24.9% share of the global Faux Finish Coatings market. Plasters segment`s growth can be attributed to increasing uptake of plaster in various industries like infrastructure development and building & construction.
Expansion of construction industry and continuous surge in architectural services are the two primary factors driving growth in the global market. The market growth is augmented by steady growth of the architecture and building & construction industries, creating robust demand for faux finish coatings including metallic and wall glazing.
These coatings will witness increasing uptake as decorative paint finishes within construction applications imitates the looks of materials like wood, marble and stone. Increasing need to make interiors aesthetically-appealing coupled with numerous merits like superior finishing and saving in labor costs is anticipated to boost the global demand.
Increasing consumer spending on home painting and decoration applications is slated to boost the market demand. The market growth is facilitated by infrastructure initiatives like the European Framework for Sustainable Buildings to make structures sustainable and eco-friendly.
The U.S. Market is Estimated at $2 Billion in 2021, While China is Forecast to Reach $1.3 Billion by 2026
The Faux Finish Coatings market in the U.S. is estimated at US$2 Billion in the year 2021. The country currently accounts for a 28.52% share in the global market. China, the world`s second largest economy, is forecast to reach an estimated market size of US$1.3 Billion in the year 2026 trailing a CAGR of 7.4% through the analysis period.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.8% and 4.4% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 4.6% CAGR while Rest of European market (as defined in the study) will reach US$1.5 Billion by the end of the analysis period.
The North American market is gaining from notable contribution from the US and the presence of leading players in the region. The US market is fueled by rising residential and commercial construction activity along with high uptake of these coatings in the architectural industry. The market is benefitting from large-scale projects announced by various companies. Faux finish coatings are experiencing high uptake in new residential or non-residential projects, mainly in developing regions.
Wall Glazing Segment to Reach $1.6 Billion by 2026
Wall glazing, another key segment, is widely used in commercial, industrial and residential sectors owing to its unique properties such as enhanced thermal efficiency. Wall glazing makes walls aesthetically appealing and allows deeper penetration of natural light in the building.
In the global Wall Glazing segment, USA, Canada, Japan, China and Europe will drive the 6% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$878.3 Million in the year 2020 will reach a projected size of US$1.3 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets.
Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$243.8 Million by the year 2026, while Latin America will expand at a 7.6% CAGR through the analysis period.
Key Topics Covered:
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- COVID-19 Impact on Faux Finish Coatings Market
- Slowdown in Construction Sector Projects Impacts Demand
- An Introduction to Faux Finish Coatings: Decorative Paint Finishes Adding Dash of Elegance to Surfaces
- Faux Finishes: Techniques
- Products and Tools for Faux Finish Coatings
- Faux Finish Coatings Market Display Vibrant, Eye-Grabbing Shades of Dynamism: Global Prospects & Outlook
- Salient Drivers Fueling Global Demand
- Key Market Restraints
- Segment Overview: Plasters and Building & Construction: Primary Market Segments
- Regional Analysis: US Sweeps Faux Finish Coatings Market with Commanding Stake
- Competitive Scenario
2. FOCUS ON SELECT PLAYERS (Total 29 Featured)
- Anvil Paints & Coatings, Inc.
- Benjamin Moore & Co.
- Faux Effects International Inc.
- PPG Industries, Inc.
- The Sherwin-Williams Company
3. MARKET TRENDS & DRIVERS
- Building & Construction: Major End-Use Sector for Faux Finish Coatings
- Trends in the Construction Industry Influence Market Uptake
- Building Renovations & Remodeling: Prominent Revenue Generating Vertical
- A Brief Overview of Architectural Coatings Market
- Sustained Opportunities in the Furniture Sector
- Top 5 Furniture Exporting & Importing Countries
- COVID-19 Derails Momentum in Furniture Industry in 2020
- Growing Emphasis on Interior Decoration Drives Demand
- Innovative Interior Design Concepts & Creative Finish Ideas Influence the Market
- Green Panelized Housing Benefits from the ‘Go Green’ Trend
- Stringent Government Regulations Driving Demand for Environment-Friendly Faux Finish Coatings
- Favorable Demographic & Macro Trends Strengthen Market Prospects
- Rapid Urbanization to Drive Demand Prospects
- Population Growth
- Burgeoning Middle Class Population
4. GLOBAL MARKET PERSPECTIVE
III. REGIONAL MARKET ANALYSIS
- Total Companies Profiled: 29
For more information about this report visit https://www.researchandmarkets.com/r/7w5e80
Research and Markets
Laura Wood, Senior Manager
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1904
Fax (outside U.S.): +353-1-481-1716
SOURCE Research and Markets
PlatoAi. Web3 Reimagined. Data Intelligence Amplified.