The global texture paint market is experiencing a significant upswing, projected to reach a substantial valuation of USD 18.47 billion by the year 2032.
This robust expansion, anticipated at a compound annual growth rate (CAGR) of 4.43% throughout the forecast period from 2024 to 2032, underscores a growing global preference for wall coating solutions that offer not only aesthetic appeal but also enhanced durability and environmental responsibility. This market momentum is intrinsically linked to the evolving demands of modern urban infrastructure, where both new constructions and renovation projects increasingly prioritise finishes that can effectively conceal surface imperfections while contributing to contemporary design aesthetics. A pivotal factor propelling this market growth is the escalating global awareness of sustainability. This consciousness has spurred the development and adoption of low-VOC (volatile organic compound) and water-based binders, along with other environmentally benign ingredients in texture paints. Consequently, these advanced formulations are increasingly becoming integral to green building certifications and compliance with stringent green building regulations worldwide. This alignment with sustainable practices is not merely an ethical consideration but a crucial market differentiator, resonating with environmentally conscious consumers and businesses alike.
The burgeoning construction activities across the globe, fuelled by the rapid urbanisation and economic expansion in emerging economies, coupled with substantial investments in urban housing and commercial real estate, are acting as primary catalysts for the heightened demand for texture paints. These paints are increasingly favoured for their ability to provide customised textural solutions, enhancing the visual appeal and longevity of both residential and commercial spaces. The United States emerged as the dominant force in the texture paint market in 2023, holding the largest market share with a valuation of USD 1.71 billion. This market is projected to continue its upward trajectory, reaching USD 2.73 billion by 2032, exhibiting a CAGR of 5.34% during the forecast period. The U.S.’s leadership position is underpinned by its well-established construction and renovation sectors, coupled with a growing consumer appetite for premium interior finishes and sustainable design principles. Technological advancements and the strong presence of major industry players, such as Sherwin-Williams, PPG Industries, and Benjamin Moore, who consistently introduce innovative textures and finishes, further bolster market growth in the region. Government initiatives aimed at retrofitting existing public and private infrastructure with energy-efficient and aesthetically pleasing coatings also contribute significantly to this demand.
However, the Asia Pacific region held the largest estimated market share globally in 2023, accounting for a commanding 45.6%. This dominance is primarily attributed to rapid urbanisation, a burgeoning construction industry in developing economies, and an increasing need for decorative wall finishes in both residential and commercial sectors. Countries like China and India have witnessed a remarkable boom in their real estate industries, driven by extensive urbanisation in both urban and semi-urban areas, consequently escalating the demand for quality and economical texture paints. India’s construction industry, recognised as one of the fastest-growing globally, exemplifies this trend, with the expansion of residential complexes and commercial buildings fuelling the need for aesthetically pleasing and durable texture paint solutions. Furthermore, a significant number of local paint manufacturers, including prominent players like Nippon Paint and Asian Paints, actively engage in the production of competitively priced and high-quality paints and coatings, further stimulating market growth within the region. Government initiatives promoting affordable housing projects and sustainable building practices across the Asia Pacific region also serve as crucial growth drivers for the texture paint market.
By type, the sand texture segment commanded the largest market share in 2023, accounting for approximately 50.3% of the global texture paint market. Sand-textured paints are the preferred choice for both residential and commercial applications due to their high mechanical durability, versatility, and visual appeal. These paints effectively conceal wall imperfections and offer a robust, aesthetically pleasing finish that can endure for extended periods. Their resistance to weathering and low maintenance requirements make them particularly suitable for high-footfall areas and exterior walls. Moreover, sand-textured paints are perceived as less prone to dirt absorption, further enhancing their suitability for commercial spaces. Their relatively lower cost and ease of application compared to other texture types also contribute to their significant market share.
In terms of technology, the water-based texture paint segment led the market in 2023, capturing over 63.2% of the share. This segment is poised to maintain its dominance throughout the forecast period, driven by increasingly stringent environmental regulations, lower toxicity levels, faster drying times, and ease of application. Water-based paints comply with stringent VOC emission norms, making them the preferred choice for both residential and commercial applications. While solvent-based texture paints are still in use, their market share is gradually diminishing due to growing environmental and health concerns. The residential segment emerged as the dominant end-use category in the texture paint market in 2023, accounting for a substantial share of approximately 55.7%. This is largely driven by the continuous trend of home renovation and the escalating demand for smart and long-lasting paint finishes. Sand and smooth texture paints have gained significant traction in interior spaces, with a growing number of homeowners moving away from conventional plain wall finishes towards textured alternatives.
The increasing preference for water-based paints in residential buildings, owing to their eco-friendly nature and growing environmental consciousness, further fuels this demand. Additionally, rising disposable incomes, coupled with a desire for stylish home interiors, have amplified the preference of residential consumers for premium texture paints. The global texture paint market is thus witnessing robust growth, driven by a confluence of factors including increasing urbanisation, booming construction activities, a growing emphasis on sustainable building practices, and evolving consumer preferences for aesthetically pleasing and durable finishes. The dominance of the Asia Pacific region, particularly the strong contributions from India and China, alongside the continued growth in the United States and the increasing preference for water-based and sand-textured paints, paints a picture of a dynamic and expanding market poised for sustained growth in the years to come.
