The global texture paint market is progressing at a good rate and is expected to register decent growth during the forecast period. This is attributed to the growing preference of the urban population to provide aesthetics looks to the homes and also the increased applicability of these paints in interior designing.

Texture paint is a specialty paint that holds texture designs. These paints are available in different varieties that are sand, smooth, and coarse. These paints are used to cover imperfections which include cracks, old paneling, uneven drywall, and holes, and secondly to create unique and dramatic well designs.

The texture paint market is classified into interior texture paint and exterior texture paint. Among these two, the interior texture paint category is holding a larger share in the market, due to the increasing application of these paints for home interior decoration, owing to the growing consumer preference towards interior designing.

The texture paint market is segmented into a blanket, board, paper, module, and others. Among all these, the blanket category is anticipated to hold the largest share in the market, which is majorly attributed to the increasing demand of insulation material from different industries including metal, shipping, automobile, and space. Though, the fastest growth is projected to register by module category, due to their suitability at different temperature ranges and design versatility.

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This is attributed to the growing investment in the construction industry, which is driving construction activities along with renovation activities across the globe.

The texture paint market is segmented into residential and non-residential, where the non-residential application includes the construction of industrial, commercial, and institutional buildings. Currently, the non-residential category accounted for the larger share in the market and is projected to register faster growth during the forecast period.

The construction activities around the world are increasing at a fast pace for infrastructure development in order to meet the increasing demand of the ever-increasing population, particularly in developing countries.

The investment in new and existing construction projects is booming, which is driving the demand for these paints in residential and non-residential projects.

The major challenges identified in the texture paint market are the high cost of these paints as compared to traditional paints, and the easy availability of alternatives.

These paints are comparatively expensive, hence the affordability factor can potentially hinder the market growth, as these paints do not provide any advantages to the application areas and only add up to the looks, which can make the user skeptical about paying the higher price.

The paint industry is very fragmented with the presence of various small and large players. However, the major market is dominated by few leaders operating in the market. The dominant players are expanding their product portfolio, which in intensifying the competition in the texture paint market.

Some of the major players operating in the texture paint market are PPG Industries, AkzoNobel N.V., The Sherwin-Williams Company, Asian Paints, Nippon Paints, Axalta Coating Systems, Kansai Paint, Valspar, Berger Paints, and Haymes Paints.

Source: VynZ Research