The latest market report published by Credence Research, Inc. “Faux Finish Coatings Market,
By Type and Region – Growth, Future Prospects and Competitive Analysis,
2016 – 2024,” the global faux finish coatings market was valued at US$
5,869.6 Mn in 2015, and is expected to each US$ 10,345.6 Mn by 2024,
expanding at a CAGR of 6.5% from 2016 to 2024.
Browse the full Faux Finish Coatings Market – Growth, Future Prospects and Competitive Analysis, 2016 – 2024 report at http://www.credenceresearch.com/report/faux-finish-coatings-market
Market Insights
Faux coatings growth has been driven by
new construction, particularly in emerging markets where commercial
developments and housing ownership are showing strong growth.
Furthermore, increased preference for home decorating boosted sales in
number of markets, attributed by rising consumer awareness and expansion
of retail networks. Thus, growth in housing developments, government
initiatives to build new homes and commercial construction, is fueling
the market growth. Furthermore, New and innovative formulation and
greater efficacy is helping the manufacturers to gain customer loyalty.
Introduction of innovative solutions is expected to create true loyal
customers. In order to fulfill the growing demand for efficient faux
coatings, manufacturers are focusing on intensive research and
development. This in turn has resulted in significant number of new
product launches. The number of product launches in Europe has gone
down, whereas the same has increased in North America and Asia.
The cost constraint has been a major
restraint holding back the growth of the faux coatings market. Key
factors affecting prices of faux finishes include cost intensive
production process, high and volatile prices of key raw materials, and
labor intensive production process.
Request Free Sample of This Report @ http://www.credenceresearch.com/sample-request/58382
Competitive Insights
Commercialization of novel and innovative
product designs is the major strategy adopted by the market players.
For instance, in July 2015, Adicolor Inc. a Canada based company
launched SPLENDIDA, a new elegant premium quality decorative paint
enriched with attractive ultra-fine glitter that reflects light. Anvil
Paints & Coatings, Inc. launched product variants to enhance its
product portfolio with the focus to differentiate its products in the
market to attain competitive advantage over its competitors. In July
2016, Benjamin Moore partnered with Microdesk to create a color suite
application for Autodesk’s Revit.
Key Trends
- Rising demand from business construction and housing developments
- New product launches
- Asia Pacific will drive demand
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