Newly released data from Fact.MR’s market analysis shows that the global demand of faux finish coatings reached nearly US$ 7 Bn by the end of 2020. Growth is being fuelled by an increase in refurbishing and renovation projects across residential and commercial settings. The industry is expected to surpass a market value of US$ 13 Bn surpassing a CAGR of 6% by 2031.
Key Points Covered in Faux Finish Coatings Industry Analysis:
- Market estimates and forecast 2016-2031
- Key drivers and restraints impacting market growth
- Segment-wise, Country-wise, and Region-wise Analysis
- Competition Mapping and Benchmarking
- Market Share Analysis
- Key Product Innovations and Regulatory Climate
- COVID-19 Impact on Faux Finish Coatings Market and How to Navigate
- Recommendation on Key Winning Strategies
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Faux Finish Coatings Historical Trends 2016-2020 Vs Future Outlook 2021-2031
According to Fact.MR- a market research and competitive intelligence provider- the global faux finish coatings market expanded at over 5% CAGR from 2016 to 2020.
Faux finish coatings have gained traction amid surging renovation project frequency, both for imparting enhanced aesthetic value as well as strengthening existing infrastructures.
With increase in demand for various interior décor applications such as walls, doors, panels, handrails, and others, faux finish coating manufacturers have experienced a surge in demand in the past years.
Thus, demand is anticipated to ascend at over 6% CAGR to reach a market value exceeding US$ 13 Bn from 2021 to 2031.
How are Surging Renovation and Refurbishing Projects Elevating Demand?
Inclination for interior decoration in industrial, commercial, and residential sectors, alike, has become prominent since the past decade. As the requirement for finishing that looks like metal, marble, stone, or other appealing surfaces tends to persist, demand for faux finish coatings is projected to increase over the coming years, creating ample opportunities for key market players.
Renovation of old residential spaces along with rising inclination towards increasing the aesthetics of commercial spaces is influencing the sales of faux finish coatings.
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Why is Demand for Faux Finish Coatings Surging from the Architecture Industry?
As the architecture industry expands, demand for faux finish coatings does too, and manufacturers are witnessing higher sales across the world.
According to the International Trade Administration, since 2010, the United States has had a surplus for trade in Architecture, Engineering, and Construction (AEC) services, reaching US$ 7.52 Bn in 2019. As per the report, exports of U.S. AEC services reached US$ 15.86 Bn, while imports were US$ 8.34 Bn.
Almost 60% of U.S. architectural services were provided in the Asia Pacific region, with more than US$ 625 Mn in exports, while Europe was the next largest export market for architectural services, accounting for 16% of U.S. exports, valued at more than US$ 170 Mn. This represents the enormous growth scope for faux finish coating manufacturers not only in the U.S. but across the globe.
Will Steady Growth of the Construction Industry Fuel Sales of Faux Finish Coatings?
Rise in the number of buildings, construction, and renovation projects in residential, industrial, commercial, and other sectors is significantly boosting demand for faux finish coatings across geographies.
According to a report published by Invest India, the National Investment Promotion & Facilitation Agency of India, India is set to hold the third-largest construction market by 2025. As per the report, the Government of India spent approximately US$ 454.8 Bn on infrastructure development over the last 6 years from 2015 to 2020.
As stated in a report published by the Government of the United Kingdom, the U.K. construction industry is growing steadily and is set to secure its share of the forecast EUR 200 billion p.a. global market for integrated city systems by 2030. All such factors bode well for demand to rise for faux finish coatings.
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What are the Key Challenges Faced by Faux Finish Coating Manufacturers?
Though faux finish coatings are highly preferred in residential, commercial, and other sectors, they are quite expensive and often not affordable by consumers with low to medium income or small commercial entities.
Additionally, there are a few cons of using faux finish coatings that often work as restraints for manufacturers. This is due to the costly maintenance the faux finish coatings require. Also, in comparison to normal painting, faux finish painting is time-consuming. This ends up making it expensive. In addition, if the labourer is not skilled to apply the paint, chances of improper application of paint may arise.
What Growth Prospects Abound across the U.S Market?
The U.S is the leading country in the world’s largest market for faux finish coatings, expected to remain in this pole position throughout the forecast period, growing at over 6% CAGR until 2031.
Highly advanced commercial and residential construction industry and rise in requirements from the architectural industry are propelling the growth of faux finish coating manufacturers in the country.
In February 2019, Google announced that it would spend US$ 13 Bn on offices and data centres across the U.S., noting that, these investments will create thousands of new construction jobs in states outside of its traditional base of California, including in Nebraska, Nevada, Ohio, Texas, Oklahoma, South Carolina, and Virginia.
Why is Germany a Lucrative Market for Faux Finish Coatings?
Backed by steady growth of the building & construction industry and rising inclination towards interior decoration, Germany is set to remain a lucrative region over the coming years.
According to a report titled “European Construction Sector Observatory”, published by the European Commission in June, 2018, there were 650,813 enterprises operating in the broad construction sector in Germany in 2014, predominantly micro, small, and medium, while production in construction registered an overall growth rate of 10.4% over 2010-2016.
This data explains why faux finish coatings manufacturers are targeting Germany in order to increase their sales footprint. A revenue share exceeding 45% is projected for the German market.
Will China’s Faux Finish Coatings Market Exhibit Hegemony?
An advanced construction industry and rise in the number of highly developed manufacturing hubs have kept China in the limelight for manufacturers of faux finish coatings.
As stated by the National Bureau of Statistics (NBS) in 2017, the construction industry in China is growing steadily at an average annual growth rate of 16.6%, while the number of construction companies saw fast growth, reaching more than 300,000 last year.
As such, China has been grabbing the attention of faux finish coating suppliers in recent years. Thus, China is expected to surpass a market value of US$ 2 Bn in the forecast period.
What Makes India a Huge Market for Faux Finish Coatings?
Fast-paced growth of the construction industry, abundance of raw materials and labor, and other such factors are driving demand for faux finish coatings across India. A CAGR of over 5% is projected for the Indian market.
According to Invest India, the construction industry in India is growing exponentially, while the real estate sector attracted US$ 5 Bn worth of institutional investments in 2020.
As stated in its report, the construction industry in India contributed 9% of the Gross Domestic Product (GDP) of the country, while new investments in road infrastructure was US$ 16.6 Bn in 2018.
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Which Type of Faux Finish Coating is Most in Demand?
Presently, wall glazing faux finish coatings are leading in the market, and are expected to propel the growth of manufacturers due to their high requirement. The segment will likely account for nearly 2/5th of global demand.
This type is highly preferred in industrial, commercial, and even residential sectors due its exclusive properties such as providing thermal efficiency and improving overall over all appearance of walls. In addition, it also allows natural light to penetrate deeper within the building.
The global faux finish coatings market is fragmented in nature, and thriving on key players. In order to remain in their high positions, these key players are emphasizing on developing more advanced and broader range of products. For instance,
- In 2021, Faux Effects International Inc. announced the launch of WALLSILK™, a unique Faux Effects® decorative coating, which, in combination with ShimmerCoat™, replicates the look, feel, and elegance of raw silk and other exquisite fabrics.
- PPG Industries, Inc. launched its new range of faux finish coatings of various neutral colors in 2020.
Historical Data Available for
|US$ Mn for Value & ‘000 Units for Volume|
Key Regions Covered
Key Countries Covered
Key Market Segments Covered
Key Companies Profiled
Available upon Request
Key Segments Covered
- Plaster Faux Finish Coatings
- Metallic Faux Finish Coatings
- Wall Glazing Faux Finish Coatings
- Marbleizing Faux Finish Coatings
- Other Faux Finish Coatings
Faux Finish Coatings Market- Scope of Report
A recent study by Fact.MR on the faux finish coatings market offers a 10-year forecast for 2021 to 2031. The study analyzes crucial trends that are currently determining the growth of the market. This report explicates on vital dynamics, such as the drivers, restraints, and opportunities for key market players along with key stakeholders as well as emerging players associated with offering faux finish coatings.
The study also provides the dynamics responsible for influencing the future status of the faux finish coatings market over the forecast period. A detailed assessment of value chain analysis, business execution, and supply chain analysis across regional markets has been covered in the report.
A list of prominent companies operating in the faux finish coatings market, along with their product portfolios, enhances the reliability of this comprehensive research study.
The study offers comprehensive analysis on diverse features, including production capacities, demand, product developments, revenue generation, and sales of faux finish coatings across the globe.
A comprehensive estimate on the market has been provided through an optimistic as well as a conservative scenario, taking into account the sales of faux finish coatings during the forecast period. Price point comparison by region with global average price is also considered in the study.
Key Questions Answered in Report
- Which are the most lucrative faux finish coatings markets?
- Which factors will impact the growth of faux finish coatings?
- How will changing trends impact the strategies of market players?
- How can market players capture the low-hanging opportunities across regions?
- Which companies are leading the faux finish coatings industry?
- What are the winning strategies of stakeholders in the market?
Analysis on Market Size Evaluation
The market has been analyzed for each segment in terms of volume (‘000 Units) and value (US$ Mn).
Estimates at global and regional levels for faux finish coatings are available in terms of “US$ Mn” for value and in “‘000 Units” for volume. A Y-o-Y growth contrast on prominent market segments, along with market attractiveness evaluation, has been incorporated in the report. Furthermore, absolute dollar opportunity analysis of all the segments adds prominence to the report. Absolute dollar opportunity plays a crucial role in assessing the level of opportunity that a manufacturer/distributor can look to achieve, along with identifying potential resources, considering the sales and distribution perspective in the global faux finish coatings market.
Inspected Assessment on Regional Segments
Key sections have been elaborated in the report, which have helped deliver projections on regional markets. These chapters include regional macros (political, economic, and business environment outlook), which are expected to have a momentous influence on the growth of the faux finish coatings during the forecast period.
Country-specific valuation on demand for faux finish coatings has been offered for each region, along with market scope estimates and forecasts, price index, and impact analysis of the dynamics of prominence in regions and countries. For all regional markets, Y-o-Y growth estimates have also been incorporated in the report.
Detailed breakup in terms of value & volume for emerging countries has also been included in the report.
In-depth Analysis on Competition Analysis
The report sheds light on leading manufacturers of faux finish coatings, along with their detailed profiles. Essential and up-to-date data related to market performers who are principally engaged in offering faux finish coatings has been brought with the help of a detailed dashboard view. Market share analysis and comparison of prominent players provided in the report permits report readers to take preemptive steps in advancing their businesses.
Company profiles have been included in the report, which include essentials such as product portfolios and key strategies, along with all-inclusive SWOT analysis on each player. Company presence is mapped and presented through a matrix for all the prominent players, thus providing readers with actionable insights, which helps in thoughtfully presenting the market status, and predicting the competition level in the faux finish coatings domain.
In Fact.MR’s study, a unique research methodology is utilized to conduct extensive research on the growth of the faux finish coatings industry, and reach conclusions on the future growth parameters. This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of the drawn conclusions.
Secondary resources referred to by analysts during the preparation of the market study include statistics from governmental organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, all of whom have contributed to the development of the research report as a primary resource.
- FAQs -
As of 2020, the market for faux finish coatings reached nearly US$ 7 Bn
From 2016 to 2020, faux finish coatings sales expanded at around 5% CAGR
The faux finish coatings is expected to surpass a CAGR of 6% from 2021-2031.
The faux finish coatings market is expected to reach US$ 13 Bn by 2031
Increasing investment in infrastructure and architecture along with renovations of commercial spaces are the key trends driving the sales of faux finish coatings.
North America and Europe are the most lucrative regions for faux finish coatings sales.
The Sherwin-Williams Co., Nippon Paint Holdings Co., Axalta Coating Systems, Kansai Paint Co. Ltd., Jotun, PPG, AkzoNobel, RPM International Inc., BASF Coatings, Asian Paints Ltd are some prominent manufacturers
U.S, Germany and China are the top three countries driving demand for faux finish coatings.
Wall glazing faux finish coating is expected to hold the highest share, comprising 2 out of 5 sales
The faux finish coatings market likely to surpass US$ 2 Bn in China by 2031.
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Is the market research conducted by Fact.MR?
Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.
What research methodology is followed by Fact.MR?
Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.
What are the sources of secondary research?
Fact.MR conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request.
Who are the respondents for primary research?
Fact.MR speaks to stakeholders across the spectrum, including C-level executives, distributors, product manufacturers, and industry experts. For a full list of primary respondents, please reach out to us.
Is a sample of this report available for evaluation?
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