Feb 10, 2021
High Demand for Wall Glazing Faux Finish Coatings Fueling Market Growth: Fact.MR
by Team Fact.MR
Faux finish coatings are widely used as decorative paint finishes that imitate the appearance of various materials such as marble, stone, wood, and others. With the rise in requirement for embellishing the interiors of buildings and furniture, faux finish coating manufacturers are expected to witness higher sales and gain more profit over the coming years.
Expansion of the architecture and construction industry coupled with various infrastructure initiatives taken up by governments is fuelling sales across regions. For instance, The Architects’ Council of Europe launched the European Framework for Sustainable Buildings on 27th January 2021, after several years of development of testing. This framework is a new European approach to assess and report on the sustainability performance of buildings, throughout their life cycle.
According to Fact.MR, the global faux finish coatings market is set to expand at over 6% CAGR during the forecast period of 2021 to 2031.
Key Takeaways from Faux Finish Coatings Market Study
- High demand for wall glazing faux finish coatings to fuel sales of manufacturers.
- Rise in application in building & construction sector to drive growth of stakeholders in the faux finish coatings industry.
- North America remains the largest market for faux finish coatings with its epicenter in the United States.
- Germany to remain at the forefront of the world’s second-largest faux finish coatings market – Europe.
- Asia Pacific to emerge as a lucrative destination, with China, Japan, and India as its key countries.
- The United Kingdom, Italy, Canada, France, and a few others to take the spotlight for manufacturers of faux finish coatings.
“Rising demand for imitating various materials such as wood, marble, and others, in wall and furniture surfaces, is catalyzing sales of faux finish coatings,” says a Fact.MR analyst.
Surge in Demand from Architecture Industry Propelling Growth
Faux finish coatings have gained rapid popularity in the architecture industry owing to their ability of providing an appealing look to walls, surfaces, hand railings, and others.
According to a report titled “Architecture and Government” by General Services Administration (GSA) America, “The Guiding Principles for Federal Architecture” continue to exert influence on the American architecture industry by providing structure for a conversation around public architecture that led to the ‘GSA’s Design Excellence Program.’ While such programs are contributing to advancement of the architecture industry, they are also creating new opportunities for various related markets for interior and exterior decorations.
Who is Winning in this Space?
With the competition getting fiercer in this space, key players in the global faux finish coatings industry are focusing on developing a broader range of products and partnering with other companies to target diverse end-use industries.
- Anvil Paints & Coatings, Inc. of Largo, Florida joined John R. Burt Enterprises in 2017, in order to increase their sales footprint.
- Benjamin Moore & Co. launched its new extensive range of products, such as Benjamin Moore Aura® Interior Paint, Benjamin Moore® Aura Bath and Spa Paint, and others, a couple of years back. It also launched the ‘Paint Like No Other’ campaign in 2015, and earned three high-profile industry awards for Ultra Spec® SCUFF-X® in 2018.
More Valuable Insights on Faux Finish Coatings Market
In its latest report, Fact.MR offers unbiased analysis of the global faux finish coatings market, providing historical data for the period of 2016-2020 and forecast statistics for the period of 2021-2031. In order to understand the global market potential, its growth, and scope, the market is segmented on the basis of coating type (plaster, metallic, wall glazing, marbleizing, and others), across seven major regions of the world (North America, Latin America, Europe, East Asia, South Asia, Oceania, and MEA).
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Expert analysis, actionable insights, and strategic recommendations of the highly seasoned Chemicals & Materials team at Fact.MR helps clients from across the globe with their unique business intelligence needs. With a repertoire of over thousand reports and 1 million-plus data points, the team has analyzed the Chemicals & Materials industry across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services. Reach out to explore how we can help.
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Consultant - Chemicals & Materials