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The drywall textures market is projected to grow by USD 172.33 million with a CAGR of 3.94% during the forecast period 2021 to 2026.
The research report provides valuable insights into the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers the market segmentation by type (regular, moisture resistant, fire resistant, and others), material (knockdown, orangepeel, roll, sand, and others), and geography (North America, Europe, APAC, South America, and the Middle East and Africa). The market report also offers information on several market vendors, including 3M Co., Armstrong World Industries Inc., Asian Paints Ltd., AWCI, Compagnie de Saint Gobain, Gold Bond Building Products LLC, Graco Inc., Hamilton Drywall Products, Holcim Ltd., Interogo Foundation, Knauf Digital GmbH, Koch Industries Inc., LS Drywall Inc, Muddy Boys Inc, Murco Wall Products, PABCO Building Products LLC, PPG Industries Inc., RPM International Inc., Shikoku Chemicals Corp., and The Sherwin Williams Co. among others.
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The growing residential construction industry is notably driving the market growth, although factors such as challenges associated with the use of drywall textures may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic's impact on the drywall textures industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Drywall Textures Market Driver
The growing residential construction industry is one of the key drivers supporting market growth. The average family household size is expected to lead to a 1%-2% annual growth in the number of households. This will generate interest among real-estate companies in constructing new residential projects. Similarly, the construction industry in Europe is expected to recover during the forecast period, especially in the residential sector. The increasing demand for housing in metropolitan areas and the increased modernization and renovation of old buildings are major factors contributing to the expansion of the residential construction sector in Europe. Thus, the growth in residential construction activities is likely to trigger the demand for drywall textures, which is expected to propel the growth of the market in focus during the forecast period.
Key Drywall Textures Market Trend
Rapid urbanization and rising disposable income are one of the key market trends contributing to market growth. The ever-rising global population supports the growth of the global construction industry. According to The World Bank Group, the global urban population grew from 7.76 billion in 2020 to 7.84 billion in 2021, which was a significant change in urbanization. By 2050, over two billion additional people are estimated to live in urban and semi-urban areas, with most of them in APAC and MEA. Thus, with the rising disposable income and rapid urbanization, the demand for drywall textures is expected to increase, which will foster the growth of the market during the forecast period.
Key Drywall Textures Market Challenge
Challenges associated with the use of drywall textures are one of the factors hampering the market growth. Applying drywall textures is not an easy task, and it requires professional painters for proper application. For instance, texture buildup can occur over a drywall joint when the surface has not been primed properly. If too much time is allowed between the roller or brush and texture applications, it leads to texture buildup. Such challenges associated with the use of drywall textures might hamper the growth of the market in focus during the forecast period.
This market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global drywall textures market as a part of the global building products market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the market during the forecast period.
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
This statistical study of the market encompasses successful business strategies deployed by the key vendors. The market is fragmented, and the vendors are deploying growth strategies such as quality, price, service, brand perception, distribution, and marketing to compete in the market.
To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments.
The vendor profiles are designed to help clients improve their market position and information on production and sustainability along with this the report provides a detailed analysis of several leading Companies.
Our In-house experts produce extensive information on the value chain and parent market of the drywall textures market, which vendors can leverage to gain a competitive advantage during the forecast period. The Value Chain information provides an end-to-end understanding of product insight and profit and also the optimization and evaluation of business strategies The players across the value chain includes selective data and analysis from entire research findings as per the scope of the report.
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36% of the market’s growth will originate from North America during the forecast period. The US and Canada are the key markets for drywall textures in North America. Market growth in this region will be faster than the growth of the market in other regions.
The growth of the residential and commercial construction sectors will facilitate market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID-19 Impact and Recovery Analysis
In 2020, the regional market witnessed certain challenges due to the COVID-19 pandemic. However, with the initiation of large-scale COVID-19 vaccination drives from Q3 2020 and the subsequent lifting of lockdown restrictions, several construction projects that were put on hold resumed in 2021, along with some new construction projects as well. Such factors are expected to propel the growth of the regional market during the forecast period.
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The market share growth in the regular segment will be significant during the forecast period. The most popular type of drywall textures used for walls and ceilings in residential and commercial construction is regular drywall, sometimes known as a whiteboard, and the most typical thickness in residential applications is 1/2 inch. The increasing residential and commercial construction activities and growing demand for products to enhance the aesthetics of the interior walls of buildings are expected to boost the growth of the regular segment of the market during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the market size and actionable market insights on the post-COVID-19 impact on each segment.
Drywall Textures Market Scope |
|
Report Coverage |
Details |
Page number |
145 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 3.94% |
Market growth 2022-2026 |
$172.33 million |
Market structure |
Fragmented |
YoY growth (%) |
3.9 |
Regional analysis |
North America, Europe, APAC, South America, and the Middle East and Africa |
Performing market contribution |
North America at 36% |
Key consumer countries |
US, Canada, China, Germany, and UK |
Competitive landscape |
Leading companies, Competitive Strategies, Consumer engagement scope |
Key companies profiled |
3M Co., Armstrong World Industries Inc., Asian Paints Ltd., AWCI, Compagnie de Saint Gobain, Gold Bond Building Products LLC, Graco Inc., Hamilton Drywall Products, Holcim Ltd., Interogo Foundation, Knauf Digital GmbH, Koch Industries Inc., LS Drywall Inc, Muddy Boys Inc, Murco Wall Products, PABCO Building Products LLC, PPG Industries Inc., RPM International Inc., Shikoku Chemicals Corp., and The Sherwin Williams Co. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Type
6 Market Segmentation by Material
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Vendor Landscape
11 Vendor Analysis
12 Appendix
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