NEW YORK , Aug. 14, 2023 /PRNewswire/ -- A latest research report [115+] pages with 360-Degree visibility, titled "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" published by Polaris Market Research in its research repository.
"According to research report, the global faux finish coatings market size/share was valued at USD 2,055.79 Million in 2022 and is expected to touch USD 3,864.39 Million By 2032, growing at a CAGR of 6.5% during the forecast period." Wood sanding brush
What is Faux Finish Coatings? How Big is Faux Finish Coatings Market Size & Share?
Faux finish coatings refer to decorative painting techniques that replicate the appearance of materials such as marble, metal, wood, or stone without actually using those materials. This decorating technique is also known as faux finishing, and it's cheaper than using the materials the paint is trying to mimic. Faux finish is often done on walls and ceilings and sometimes on doors and furniture as well. It adds depth, character, and visual interest to the applied surfaces.
Some common types of faux finishes include color washing, rag rolling, marbleizing, venetian plaster, wall stripes, wood graining, stenciling, antiquing, wood graining, and color wash. Faux finish coatings can be applied using products and tools such as a paint roller, paintbrush, sponge roller, tarp, painter's tape, and ladder or step stool. A surge in demand for artistically appealing interiors and rising popularity for incorporating various decorative elements among consumers is driving the faux finish coatings market growth.
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Faux Finish Coatings Market: Report Scope
By Coating Type, By Technology, By Application, By Region
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Demand for sustainable and eco-friendly materials: The increasing trend of selecting sustainable and environmentally friendly materials is driving the faux finish coatings market demand. Customers can use less natural resources by choosing faux finish coatings. Instead of utilizing genuine wood, stone, or other materials.
Preference for marbleizing finish: Rising popularity of marbleizing finishes as an efficient and inexpensive way to obtain a luxurious and elegant look is propelling the faux finish coatings market growth.
Adoption of advanced technology: Growing trend of incorporating smart technology into faux finish coatings and the development of smart coatings, which may change color, texture, or transparency in response to several external factors like light, temperature, light, or electric signals. These coatings enable interactive and innovative design possibilities, creating lucrative growth opportunities for the faux finish coatings market.
Infrastructure investment and changing consumer preferences: The rising investment for the maintenance and upgradation of aging infrastructure in both developed and developing economies, improvement of people's living standards, ongoing shifts in consumer preferences, and purchasing patterns towards sustainable and eco-friendly solutions are some of the key factors boosting the market growth.
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Recent Trends Influencing the Market
Coating methods and environmental advancements: Introduction of better and more advanced coating methods by manufacturers worldwide is anticipated to create potential growth opportunities for the faux finish coatings market. For instance, in May 2023 , PPG announced that the company would assist PPG Advanced Surface Technologies in delivering paint & clear film solutions, notably for automotive & industrial customers. The new range of paint films offers numerous environmental benefits, including lower energy consumption & more unique aesthetic options.
Online retail and e-commerce platforms: Increasing development of online retail and e-commerce platforms worldwide enables manufacturers and suppliers of faux finish coatings to fulfill the requirement of a broader customer base. In addition, they can attract customers who prefer the convenience of online shopping or are located in places with limited access to physical stores by developing a strong online presence, offering product information, tutorials, and online purchasing alternatives. These market trends are likely to foster industry expansion.
Wall glazing segment held the highest market share in 2022
Based on coating type, wall glazing category witnessed the largest faux finish coatings market share in 2022 and is expected to maintain its dominance over the forecast period owing to its high demand across all kinds of industries, including industrial, commercial, and residential. These coating types offer thermal efficiency and have the ability to improve the aesthetic appeal of walls. In addition, the adaptability of wall glazing coating, which enables design inventiveness and can be utilized to enhance the appearance of many architectural styles, from traditional to contemporary, is also projected to accelerate market growth in the upcoming years.
Powder-based segment is projected to register significant market share throughout the study period
By technology faux finish coatings market segmentation, a power-based category is anticipated to hold the major revenue share in the coming years due to its various favorable features like high resistance to impact, abrasion, chemicals, and UV radiation, making them appropriate for a number of applications including faux finish coatings, where longevity and durability are crucial. Further, rising technological developments globally have led to the development of advanced powder-based coating formulations.
On the basis of furniture, category is predicted to surge significantly during the forecast period
In terms of application, furniture category is anticipated to capture significant growth in the coming years owing to its growing adoption as an effective or affordable alternative to natural materials. Compared to traditional finishes, its application and maintenance is easy. People are looking for furniture that reduces environmental harm because of rising awareness of sustainability and eco-friendly practices.
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North America region held the largest revenue share in 2022
By geography, North America witnessed the major share in 2022 in the faux finish coatings market and is expected to retain its dominance during the projected period. This growth can be attributed to the fast growth of the construction sector coupled with rising expenditure on home renovation or remodeling projects across nations like the US and Canada .
Moreover, faux finish coatings market in Asia Pacific is expected to show the most lucrative growth with a healthy share in the coming years due to factors such as rising consumer disposable income, rapid urbanization, increasing change towards sustainable products, rapid growth of the construction industry, and cultural significance. In addition, many government organizations in the APAC region are introducing favorable policies and guidelines to boost sustainable construction practices and eco-friendly products, which is propelling market growth.
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All-inclusive information on the product portfolios of the top players in the market.
An in-depth assessment of the geographic and business segments of the market.
Market segmentation on the basis of the type of product, application, and region.
It offers a forward-looking perspective on the developing elements driving or controlling the business area's development.
The recent research and development projects performed by each key player.
A thorough analysis of the market's value chain and assess the effect of Porter's five forces.
Polaris Market Research has segmented the faux finish coatings market report based on coating type, technology, application, and region:
North America (U.S., Canada )
Europe (France , Germany , UK, Italy , Netherlands , Spain , Russia )
Asia Pacific (Japan , China , India , Malaysia , Indonesia . South Korea )
Latin America (Brazil , Mexico , Argentina )
Middle East & Africa (Saudi Arabia , UAE, Israel , South Africa )
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