New Study Predicts Growth of Faux Finishes

According to a new study on the faux-finish coatings market, global sales of faux finishes were nearly $5.9 billion in 2015 and will reach more than $10.3 billion by 2024—driven by a number of factors, including the popularity of home decorating. (“Faux Finish Coatings Market, By Type and Region—Growth, Future Prospects and Competitive Analysis, 2016 – 2024,” conducted by Credence Research Inc.)

The study distinguishes between faux finishes and decorative finishes, appropriately suggesting that the former is a sub-category of the latter. “Faux finishing or faux painting are decorative paint finishes which imitate the appearance of materials such as stone, marble and wood,” the study explains. Even with this delineation, the study notes that faux coatings make up one of the fastest growing markets in the decorative paints industry.

The study also observes that faux coatings come in many forms, such as metallics, plasters, wall glazes, marbleizing finishes, wood grains, Tuscan finishes and so on. “Among these types, plasters and metallics accounted for the major share of the global faux-finish coatings market, owing to their low price and the availability of new and innovative finishes,” the study reports.

A GLOBAL PHENOMENON

For the purpose of the study, the global faux-finish coatings market was categorized into regional markets: North America, Europe, Asia Pacific and Latin America and Middle East and Africa. Findings show that the faux coatings sector is gaining momentum globally, growing at a rate of 6.5 percent annually and accounting for a more than 10-percent share of the decorative coatings market.

What has fueled this growth and momentum? The study finds that faux coatings have been driven by new construction, particularly in emerging markets where commercial developments and housing ownership are robust. Faux coatings in general are performing well where the housing market—particularly new builds—are strong, such as the United States, the U.K. and Spain.

Growth also can be attributed to consumer preoccupation with home decorating, rising consumer awareness of decorating trends and the expansion of retail networks. Reports within the decorative products industry over the last several years likewise have pointed to the rise of social media sites like Houzz and Etsy in raising awareness of home-decorating topics.

But additionally, new and innovative faux coating products are pumping sales. The study finds that consumers in the decorative coatings industry are interested in innovative products but unwilling to sacrifice efficacy. To fulfill the growing demand for innovative and efficient faux coatings, manufacturers are focusing on intensive research and development. This in turn has resulted in a significant number of new product launches in the North American and Asian markets.

At the same time, there have been cost constraints on the market's rate of growth. Key factors affecting prices of faux finishes include cost-intensive production processes, high and volatile prices of key raw materials, and labor-intensive production processes.

In addition to its findings, Credence Research has included profiles of leading faux finish manufacturers within the study, along with the manufacturers’ product portfolios and key developments. Major players profiled in the report are Adicolor, Inc., Anvil Paints & Coatings, Inc., Crescent Bronze Inc., DecoArt Inc., The Valspar Corp. and Roman Decorating Products, among others.

For more Information or to obtain a full copy of the extensive study, visit http://www.credenceresearch.com/report/faux-finish-coatings-market.

About Credence Research: Credence Research is a worldwide market research and counseling firm that serves driving organizations, governments, non-legislative associations and not-for-benefits.