Overview and Scope
The painting and wall covering contractors refer to the sector consisting of businesses mostly involved in painting heavy (engineering) constructions as well as paper hanging, decorating, and painting buildings.
Sizing and Forecast
The painting and wall covering contractors market size has grown marginally in recent years. It will grow from $220.38 billion in 2023 to $224.62 billion in 2024 at a compound annual growth rate (CAGR) of 1.9%. The growth in the historic period can be attributed to construction and real estate activity, home renovations and remodeling, aesthetic trends and design preferences, commercial and industrial projects, property maintenance..
The painting and wall covering contractors market size is expected to see steady growth in the next few years. It will grow to $248.12 billion in 2028 at a compound annual growth rate (CAGR) of 2.5%. The growth in the forecast period can be attributed to green building practices, innovations in materials and techniques, interior design trends, commercial and residential construction, economic conditions.. Major trends in the forecast period include health and safety standards compliance, digital marketing and online presence, innovative application techniques, energy-efficient coatings, residential renovation boom..
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Segmentation & Regional Insights
The painting and wall covering contractors market covered in this report is segmented –
1) By Product Type: Wall Panel, Wall Paper, Tile, Metal Wall Covering, Other Products
2) By Application: New Construction, Renovation
3) By End-User: Residential, Commercial
Asia-Pacific was the largest region in the painting and wall covering contractors market in 2023. The regions covered in the painting and wall covering contractors market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The rising housing demand is expected to propel the growth of the painting and wall covering contractors market going forward. Housing refers to any dwelling place built to accommodate one or more families. Painting and wall-covering contractors manage a variety of home maintenance jobs involving coloring floors, roofs, buildings, and walls. They may also take part in the instruction and management of these jobs. So, an increase in the demand for housing and dwellings increases the need for painting and wall-covering contractors. For instance, in March 2023, according to the United States Census Bureau, a US-based principal agency of the federal statistical system, the number of privately owned housing units approved by building permits in February 2023 was 1,524,000 on a seasonally adjusted yearly basis. This is 13.8% more than the January rate, which was corrected to 1,339,000. Therefore, the rising housing demand is driving the growth of the painting and wall covering contractors market.
Key Industry Players
Major companies operating in the painting and wall covering contractors market are focusing on innovative products such as hardwood flooring to drive revenues in their market. Hardwood flooring is a type of flooring made from timber that is designed for use as flooring, either structural or aesthetic. For instance, in November 2023, Duchateau LLC, a US-based luxury architectural company, launched pictura and intervals. The Intervals Collection, with its felt backing that insulates sound and heightens the contrast in its visual effect, delivers the extraordinary beauty of the slat statement with a gentler depth and lower weight. This collection is available in panels that are 15″ broad, with heights of 58″, 108″, and 119″and 7/8″ depth. Panels in the pictura collection come in 7.5” wide and 75.5” tall options for each style. The introduction of these collections demonstrates Duchateau’s dedication to providing creative and inventive wall covering options that are influenced by historical artwork and architecture but with a modern twist.
The painting and wall covering contractors market report table of contents includes:
1. Executive Summary
2. Painting And Wall Covering Contractors Market Characteristics
3. Painting And Wall Covering Contractors Market Trends And Strategies
4. Painting And Wall Covering Contractors Market – Macro Economic Scenario
5. Global Painting And Wall Covering Contractors Market Size and Growth
…
31. Global Painting And Wall Covering Contractors Market Competitive Benchmarking
32. Global Painting And Wall Covering Contractors Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Painting And Wall Covering Contractors Market
34.Painting And Wall Covering Contractors Market Future Outlook and Potential Analysis
35. Appendix
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