| Source: ReportLinker
Lyon, FRANCE
New York, June 06, 2023 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Painting And Wall Covering Contractors Global Market Report 2023” – https://www.reportlinker.com/p06464105/?utm_source=GNW
, Grandeco Wallfashion Group, York Wallcoverings Inc., Dal-Tile LLC, Nippon Paint Holdings Co. Ltd., Akzo Nobel N.V., Architonic, F. Schumacher & Co., and Osborne & Little.
The global painting and wall covering contractors market is expected to grow from $216.31 billion in 2022 to $222.71 billion in 2023 at a compound annual growth rate (CAGR) of 3.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The painting and wall covering contractors market is expected to reach $243.41 billion in 2027 at a CAGR of 2.2%.
The painting and wall-covering contractors market includes revenues earned by entities by providing services like paper hanging, building decoration, and coloring.The market value includes the value of related goods sold by the service provider or included within the service offering.
Only goods and services traded between entities or sold to end consumers are included.
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.
Asia-Pacific was the largest region in the painting and wall covering contractors market in 2022. 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 and Africa.
The major types of products for painting and wall covering contractors are wall panels, wall paper, tile, metal wall covering, and others.A wall panel is a type of millwork that’s employed to decorate the interiors of a building.
It is frequently created from stiff or semi-rigid parts composed of materials like wood, plastic, or other materials. These are used for several applications, including new construction and renovation, by various end-users, such as residential and commercial.
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.
Use of technologically innovative paintings is a key trend gaining popularity in the painting and wall covering contractors market.Major companies operating in the painting and wall covering contractors market are focused on using painting based on innovative technologies to strengthen their position in the market.
For instance, in April 2022, PPG Industries Inc., a US-based manufacturer of coatings, paints, and specialized materials, launched Copper Armor, the newest virus- and bacteria-fighting paint. Using Corning Guardiant copper technology, this ground-breaking interior coating eliminates 99.9% of viruses and germs after two hours of contact. Copper Armor utilizes Corning Guardiant copper ion technology, an additive that was evaluated at Dr. Charles Gerba’s microbiology lab at the University of Arizona. It has been shown that Guardian continually sanitizes walls and kills bacteria. The latest EPA (Environmental Protection Agency) registration represents the first Guardiant-enabled product accessible in the United States.
In January 2023, F.D. Thomas, a US-based specialized construction and engineering company, acquired Redwood Painting Company for an undisclosed amount. This acquisition would increase FD Thomas’ market position in the maintenance and wastewater sectors while offering a new platform to keep expanding. Redwood Painting Company is a US-based painting contractor.
The countries covered in the painting and wall covering contractors market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The painting and wall covering contractors market research report is one of a series of new reports that provides painting and wall covering contractors market statistics, including painting and wall covering contractors industry global market size, regional shares, competitors with a painting and wall covering contractors market share, detailed painting and wall covering contractors market segments, market trends and opportunities, and any further data you may need to thrive in the painting and wall covering contractors industry. This painting and wall covering contractors market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Read the full report: https://www.reportlinker.com/p06464105/?utm_source=GNW
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