A recent report by AMA Research has revealed that the market for paint, wall coverings and wood care products was worth a staggering £925m in 2017.
Having hit an all-time low in 2009, the upturn in the construction sector in 2014 stimulated demand for decorating products. This grew enormously during 2015 but has tapered off since 2016.
Amongst the key drivers of demand are the housing market, consumer confidence, home improvement levels, design trends, non-residential construction activity and the weather in any given year.
The paint sector has seen a shift towards more water based products, with acrylic eggshell showing good growth. There has also been a marked increase in demand for what could be described as value added products such as durable, stain resistant and easy-to-clean products, as well as more specialist paints, including light reflecting, textured finishes, anti-bacterial, low odour, fast drying, anti-slip floor paint and insulating paint.
The trend in the wallcovering sector is towards bold designs, including the use of texture and digital printing. Wood care has seen good growth in fencing, sheds and conservatories, accompanied by demand for garden paints.
Keith Taylor is a Director of AMA Research and he said, “Market prospects in the paint and wallcoverings market remain positive, although only modest growth levels of 1-2% per year are forecast to 2022.”
He added, “not only are people improving their home instead of moving, but the trend to carry out improvements prior to placing properties on the market appears to be returning. The trend to ‘get someone in’ instead of doing it yourself is also expected to continue benefiting the market.”
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