How Has the Building Finishing Contractors Market Evolved Historically and What is its Current Size?
The building finishing contractors market has seen considerable growth due to a variety of factors.
• In recent years, there has been a significant increase in the market size of building finishing contractors. The market is expected to expand from $1417.89 billion in 2024 to $1526.95 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 7.7%.
This increase in the past period is attributable to the growth of the construction industry, developments in real estate, urbanization and infrastructure projects, building renovations, and trends in architecture and design.
What is the Forecasted Market Size and CAGR for the Building Finishing Contractors Market?
The building finishing contractors market is expected to maintain its strong growth trajectory in upcoming years.
• Expectations are high for a robust expansion in the building finishing contractors market in the coming years. The market size is projected to rise to $2012.4 billion by 2029, with a compound annual growth rate (CAGR) of 7.1%.
Elements contributing to this anticipated growth during the forecast period include sustainability, green building initiatives, smart building integration, adherence to health and safety standards, infrastructure resilience, demographic growth, and housing development. Significant trends set to shape the market during this period encompass the use of sustainable finishing materials, smart home integration, the adoption of biophilic design, modular and prefabricated finishing, and adaptive reuse.
Which Factors Are Boosting Growth In The Building Finishing Contractors Market?
The demographic composition of most nations is gravitating towards a more elderly populace, escalating the requirement for senior-citizen friendly establishments. For example, the World Health Organization (WHO), a specific government entity, projects that from 2020 to 2050, the populace of individuals aged 80 and above is anticipated to triple, reaching 426 million. Moreover, by 2050, those aged 60 and above will increase two-fold, totaling 2.1 billion. Consequently, residences and their broader environments need to undergo modifications for enhanced safety and inclusivity. Local retailers and urban hubs need to be more easily accessible by seniors. Adjustments will also have to be made in public transportation facilities owing to the amplified demands from senior citizens. This is likely to lead to a surge in construction finishing contractor activities over the prediction period.
What Are The Market Segments In The Building Finishing Contractors Market?
The building finishing contractors market covered in this report is segmented –
1) By Type: Drywall And Insulation Contractors, Painting And Wall Covering Contractors, Flooring Contractors, Tile And Terrazzo Contractors, Finish Carpentry Contractors, Other Building Finishing Contractors
2) By Service Provider: Large Chain Companies, Independent Contractors
3) By Mode: Online, Offline
4) By Application: Residential Building Construction, Nonresidential Building Construction, Utility System Construction, Other Applications
Subsegments:
1) By Drywall And Insulation Contractors: Drywall Contractors, Insulation Contractors
2) By Painting And Wall Covering Contractors: Interior Painting Contractors, Exterior Painting Contractors, Wallpaper Contractors, Other Wall Covering Contractors
3) By Flooring Contractors: Carpet Installation Contractors, Hardwood Floor Contractors, Ceramic Tile Installation Contractors, Vinyl And Linoleum Flooring Contractors, Other Flooring Contractors
4) By Tile And Terrazzo Contractors: Ceramic Tile Contractors, Terrazzo Flooring Contractors, Marble And Stone Tile Contractors, Other Tile And Terrazzo Contractors
5) By Finish Carpentry Contractors: Cabinet Installation Contractors, Millwork Contractors, Trim And Molding Contractors, Door And Window Installation Contractors, Other Finish Carpentry Contractors
6) By Other Building Finishing Contractors: Stucco Contractors, Plaster Contractors, Soundproofing Contractors, Other Specialty Finishing Contractors
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What Trends Are Shaping The Building Finishing Contractors Market?
Leading firms in the building finishing contractor market are making progress towards creating technologically superior solutions, such as user-friendly software for rapid construction projects, to smoothen project management, improve accuracy, and enhance overall productivity. Easy-to-use software for speedy building construction pertains to digital utilities designed to streamline and hasten construction management tasks. For example, in May 2023, Topcon, a Japanese-based engineering firm, launched Digital Layout, a simple to use software aimed at boosting efficiency levels in the building construction field. This software addresses both amateur and seasoned users, making it simpler to shift from classic layout procedures to digital processes. The software is 3D laser compatible and flawlessly works with Autodesk Revit or AutoCAD for point file generation. Principal features consist of real-time reporting, multi-platform compatibility for Windows and Android, and cloud linkage through Topcon MAGNET Enterprise for effortless data exchange.
Who Are the Key Players In The Building Finishing Contractors Market?
Major companies operating in the building finishing contractors market include:
• Fletcher Building Ltd.
• NCI Building Systems Inc
• Interserve Plc
• APi Group Inc
• Performance Contracting Group Inc
• Cleveland Construction Inc
• Irex Corp of Lancaster
• Sherwin-Williams Company
• Pittsburgh Plate Glass Industries
• Inc
• RPM International Inc.
• The Valspar Corporation
• Benjamin Moore & Co.
• Behr Process Corporation
• Rust-Oleum Corporation
• Akzo Nobel N.V.
• Axalta Coating Systems Ltd.
• BadischeAnilin und Soda-Fabrik SE
• The Dow Chemical Company
• DuPont de Nemours
• Inc.
• Eastman Chemical Company
• 3M Company
• Avery Dennison Corporation
• Bostik SA
• Data Acquisition and Processing Products Inc.
• Franklin International Inc.
• H.B. Fuller Company
• Henkel AG & Co. KGaA
• Illinois Tool Works Inc.
• ITW Performance Polymers & Fluids
• Kansai Paint Co. Ltd.
• Nippon Paint Holdings Co. Ltd.
• Pidilite Industries Ltd.
• Sika AG
• United States Gypsum Corporation
• Armstrong World Industries Inc.
• CertainTeed Corporation
• Georgia-Pacific LLC.
What Are The Regional Insights Into The Building Finishing Contractors Market?
Asia-Pacific was the largest region in the building finishing contractors market in 2023. Western Europe was the second-largest region in the building finishing contractors market. The regions covered in the building finishing contractors market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
