PUBLISHER: Polaris Market Research | PRODUCT CODE: 1346914
PUBLISHER: Polaris Market Research | PRODUCT CODE: 1346914
The global faux finish coatings market size is expected to reach USD 3,864.39 million by 2032, according to a new study by Polaris Market Research. The report "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" gives a detailed insight into current market dynamics and provides analysis on future market growth.
The rising number of construction and restoration projects in commercial, residential, and industrial sectors and rapidly surging investments in infrastructure development, mainly in developed nations, along with the trend of modernization of interior spaces and change in consumer living standards, especially in urban regions, are prominent factors fostering the market growth. Developing coatings with improved characteristics and incorporating advanced technologies like nanotechnology, digital printing, and high-performance water-based coatings is enhancing the product demand globally.
For instance, in May 2023, Wildeck announced the launch of its new advanced powder coat paint system, offering various new paint textures and color options to its customers. The new powder coat paint system also includes a high-performance matte finish, providing greater resistance to nicks or mainly incurred on the job sites.
The rising proliferation of technologies like augmented reality and virtual reality across the globe and their widespread utilization to simulate and visualize faux finish coatings before application and an increasing number of designers and homeowners who are seeking AR and VR tools to virtually explore different faux finishes on surfaces, enabling them to make informed decisions and visualize the final appearance of a space, is also likely to have a positive impact on market growth.
In addition, consumers globally are looking for unique and personalized faux finish coatings that reflect their individuality and style, thereby customizing coatings with a wide range of colors, textures, and patterns is gaining huge traction and popularity. Besides this, the market companies are focusing on market expansion and finding product applications in furniture, retail displays, industrial surfaces, and automotive interiors, pushing the market growth forward.
Wall glazing segment accounted for largest market share in 2022, mainly due to its growing use in various sectors because of thermal efficiency and aesthetic appeal
Powder-based segment is anticipated to hold significant market over the study period, on account of its several beneficial characteristics including UV radiation, durability, and longevity
Furniture segment is likely to emerge as fastest growing region during the projected period, mainly accelerated to increased demand for sustainable and eco-friendly solutions in furniture industry
North America region dominated the global market with substantial share in 2022, owing to quick adoption of high technological advancements and expenditure on renovation and remodeling projects
The global key market players include: Roman Decorating Products, Modern Masters, Alfacing International, Asian Paints, Faux Effects International, and Pratt & Lamber Paints
Polaris Market Research has segmented the faux finish coatings market report based on coating type, technology, application, and region: