Acrylic Coating Market

Global Acrylic Coating Market Size (2024 to 2029)

The Global Acrylic Coating market is estimated to be valued at USD 19.30 billion in 2024 and is anticipated to reach USD 24.87 billion by 2029, with a CAGR of 5.2% during the forecast period.  

Current Scenario of the Global Acrylic Coating Market

The paint and coatings industry is witnessing several changes and transformations which also made their way into the acrylic coatings market.

Certain industry players are also engaged in producing acrylic paints from recycled materials. This trend is expected to turn into a big thing which will transform this market completely. Likewise, DecoArt used recycled house paint to make the DecoEARTH Reclaimed Acrylics. These house paints were first intended for landfills. As per the Environmental Protection Agency (EPA), every year the amount of paint wasted is 75,000,000 gallons. Moreover, there are progressively strict ecological regulations which indicate that colouring and pigment organizations must produce tinting solutions that provide high efficiency and sustainability. Following that Vibrantz made the coatings sector’s foremost volumetrically dosed tinting system called Pearls. This system is for solid colourants and is designed for application in industrial purposes and waterborne architecture. It has the advantage of performance and sustainability but also offers complete cost reduction and lower maintenance.

MARKET DRIVERS

The technological development is surging the adoption of water-borne coatings in certain industry segments, driving the acrylic coatings market forward.

Moreover, the expansion of the real estate and construction sector is propelling market growth, with an inclination towards the rising emphasis on bio-based and environmentally-friendly products.

The extensive application of acrylic resins is another factor augmenting the growth of the market. Acrylic resins are a rapidly expanding category of coating binders that are utilised in a large number of uses for their chemical and mechanical features and aesthetic qualities. Also, water-borne acrylic coatings perform exceptionally well in life cycle evaluations and experience robust demand in devices for automobile, construction and structural purposes.

The market also benefits from the growing popularity of acrylic latex due to technological breakthroughs, growing customer preference and targeted investment initiatives within the sector. This latex coating has seized a great share of the Western European and North American market for structural or building coverings and layers as an alternative to solvent-borne coatings. Application in developing regions as substitutes for solvent-borne and other low-grade, economically low-durability coatings is projected to remain on an upward growth trajectory.

Besides this, the rising usage in the building and construction industry and the accelerating number of laws about applying eco-friendly products. There is a swift rise in the desire for acrylic surface coatings which discharge decreased amounts of volatile organic compounds (VOCs).

MARKET RESTRAINTS

The instability in raw material costs acts as a key hindrance to the growth of the acrylic coatings market. This is largely caused by elevated prices of crude oil and forest-derived products. Petroleum is the main source of acrylic resins, additives, binders and key elements in the making of this surface coating. Crude oil costs fluctuations, resulting from supply and demand imbalances, significantly impacts the market. Ups and downs in input material costs also elevate production expenditure, shrink dealer profit rate and impede market growth. In emerging countries, the demand for these surface coatings is surging, yet these rate variations pose problems for market expansion.

MARKET OPPORTUNITIES

Sustainable and environment-friendly solutions will be the most critical trends in the acrylic coatings market in the next 10 years.

Also, products with high resistance against severe climatic conditions are expected to gain significant ground in the market in the coming years. Moreover, Asia Pacific provides potential opportunities in the automotive, industrial and construction industries for companies operating in this market. However, North America and Western Europe will likely take the lead in the product development and technological front since consumers will be searching for goods or solutions which provide convenience as well as safety for themselves and their family members. With the growing trend of DIY, industry players intend to deliver market solutions which are extremely minimal in VOC’s, reduced odour, secure and very simple to apply with less or no prior experience.

MARKET CHALLENGES

The Acrylic coatings market growth is challenged by limitations concerning use in specific environmental circumstances.

Moreover, changing customer preferences, supply chain interruptions and industry saturation are derailing the expansion of the market. Furthermore, because of its strong chemical formulation, both industry players and workforce-producing styrene acrylic are susceptible to various health problems which are also constraining the market growth. Additionally, frequent and more intense climate changes are impacting the performance of acrylic coatings.

REPORT COVERAGE

SEGMENTAL ANALYSIS

Global Acrylic Coating Market By Type

The water-based segment is leading the acrylic coatings market. The need for environment-friendly and sustainable paint products reamed high in 2023.

Moreover, with stringent laws and the rising consumer understanding of the environmental effects of conventional paints, the market experienced a major transition into these water-based substitutes. In addition, Asia-Pacific commands acrylic water-based solutions with prominent companies such as Kansai Paints, Asian Paints and Nippon Paints, and therefore surging regional production. Furthermore, these paints are primarily applied for simple household structures and buildings like walls, roofing, doors, windows and others because of their satin matt output and rapid dry qualities.

Global Acrylic Coating Market By Application Method

The liquid segment maintained its position in the acrylic coating market.

The segment is comprehensively used owing to its adaptability and efficiency for several purposes, especially in coatings and paints. Its market growth is propelled by elements like hassle-free experience, longevity and capability to attain a smooth surface, positioning as a favourable option in various sectors, involving automotive and construction. On the other, the powder segment is also considerable in notable applications.

Global Acrylic Coating Market By End-User

The building & construction segment led the worldwide sales in the acrylic coatings market.

Water-borne coating is the most prevalent type in this end-user industry holding about 80 per cent of the market share. According to the study, in 2021, a total of 27.5 million tons of this water-borne coating was produced under this segment and is predicted to arrive close to 33.2 million tons by 2026. Apart from this, its market size has mainly increased because of the rising demand as a consequence of construction operations instead of a significant change from other kinds of coatings considering that it is an application where water-borne has a stronghold.

REGIONAL ANALYSIS

Europe is an attractive acrylic coatings market owing to its demonstrable commitment towards environment-friendly products and solutions for curbing greenhouse gas emissions.

This can be also attributed to the rising demand for high-efficiency and sustainable construction materials. Moreover, the automobile and transportation industry witness considerable application for acrylic coatings because of their capacity to give corrosion defiance and improve the service life of vehicles and elements. Further, these resin covers find important usages in the electrical & electronics sector, providing insulation qualities and immunity against ecological factors.

The Asia Pacific acrylic coating market is predicted to lead worldwide in the coming years.

This is credited to the increasing coatings demand, and expanding application in the construction sector in Indonesia, India and China. Furthermore, the growing consumption by automotive manufacturing is believed to fuel the regional market size.

North America has experienced substantial growth in the acrylic coating market.

Because of the existence of key acrylic coating producers for example, Axalta Coating Systems, PPG Industries, Dunn-Edwards Corporation and others.

KEY PLAYERS IN THE GLOBAL ACRYLIC COATING MARKET

Sherwin-Williams (USA), AkzoNobel (Netherlands),PPG Industries (USA), Jotun (Norway), Nippon Paint Holdings (Japan), Asian Paints (India), RPM International (USA), Kansai Paint Co. (Japan), Axalta Coatings Systems (USA), BASF Coatings (Germany) are some of the notable companies in the global air fryer market.

RECENT HAPPENINGS IN THE MARKET

• In July 2024, EPS introduces acrylic resin for commercial wood coatings free from Fluorosurfactants.
• In June 2024, DecoArt launched a general-purpose acrylic paint produced with 70 per cent recycled materials. It is an acrylic paints and speciality finishes company with its headquarters in Lexington, Kentucky.
• In January 2024, SHER-WOOD Environmentally Adaptive (EA) Hydroplus technology was launched by Sherwin-Williams. It is a new transformative waterborne coating for wood which can be used over a broad range of ecological conditions without the efficiency-draining performance concessions frequently linked with waterborne coatings.

DETAILED SEGMENTATION OF THE GLOBAL ACRYLIC COATING FRYER MARKET INCLUDED IN THIS REPORT

This research report on the global acrylic coating market has been segmented and sub-segmented based on type, application method, end-user, and region.

By Type

• Solvent-Based Acrylic Coatings
• Water-Based Acrylic Coatings
• Solvent-Free Acrylic Coatings
• High-Solid Acrylic Coatings
• Powder Acrylic Coatings
• UV-Curable Acrylic Coatings
• Acrylic Conformal Coatings (Type AR)

By Application Method

• Liquid
• Powder

By End-User

• Automotive
• Aerospace & Defense
• Building & Construction
• Industrial
• Wood coatings
• Electronics
• Others

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa