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Acrylic Coatings Market

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The global acrylic coatings market size is expected to witness potential gains in the future, and register a CAGR of 6.1% over the forecast period (2019 – 2027).
Acrylic Coatings Market - Size, Share, Trends, and
Forecast 2019 - 2027
The global acrylic coatings market size is expected to witness potential gains
in the future, and register a CAGR of 6.1% over the forecast period (2019 2027).
Market Overview
Acrylic coatings possess excellent durability, are highly resistant to water and
UV rays, stable under extremely cold temperature, easy to apply, and cost
effective compared to other materials. The key feature of acrylic polymers is
that they can be developed to be both tough and flexible at the same time.
Acrylic materials have a wide range of applications, but are most commonly
designed for the purpose of roof coatings (as replacement for house paint),
and other roof applications. Elastomeric finish and high surface hardness
makes them ideal for application in the building sector. Among other
advantages, acrylic coatings have low odor, quicker drying time,
eco-friendly, water resistance, and they are also resistant to corrosion. The
low odor means acrylic coatings are a preferred choice for external as well as
internal use.
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Market Dynamics
Acrylic coatings can be applied over a wide range of surfaces such as wood,
steel, aluminum, primers rich in zinc, concrete, piping, and others. As a
result, acrylic coatings are expected to witness a high demand from coating
and paint industries. Furthermore, there is a significant demand for
decorative paints for application in exterior and interior walls which is
driving the growth of the market. Increasing disposable income in emerging
economies combined with rapid urbanization has led to a demand for
aesthetically pleasing infrastructure and decorative coatings. Key players
across the globe are also focusing on investments in untapped regions which
is expected to benefit the overall market growth over the forecast period.
Moreover, increasing number of environmentally friendly regulations by
government agencies have led to industries opting for coatings containing
low intensity volatile organic compounds, as a result of rising health
concerns among the global population such as cancer risk and respiratory
illnesses. Environmental policies have driven manufacturers to produce
ecofriendly products that will not have a harsh impact on the environment
and public health. Such regulations are facilitating the growth of the global
acrylic coatings market.
Although, there are some limitations to waterborne coatings with regards to
the weather at the time of application, and have a moderate scope of affecting
the market growth. For instance, in extremely humid conditions (over 90%
humidity), acrylic coatings may take longer to dry.
Market Outlook
Asia Pacific has accounted for the highest market share in the past few years,
and the trend is likely to continue over the forecast period owing to an
industrial boom in the region. Rapidly expanding end use industries such as
automotive, construction, and metal in emerging economies such as China
and India are contributing to the demand for acrylic coatings in Asia Pacific.
Furthermore, the growing gross domestic product and disposable income of
the population in this region is expected to benefit the market growth in the
upcoming years. Europe is expected to be the second largest market for
acrylic coatings, and is likely to witness significant growth, particularly in the
wood substrate acrylic coating segment. The North America market is
expected to grow at a steady rate following the economic slump in 2009.
Other regions such as Latin America and Africa are also projected to
contribute to the market share as a result of increasing urbanization and
industrialization in the regions.
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Key Players
Some of the prominent players in the global acrylic coatings market are
Nippon Shokubai, Asian Paints India, Berkshire Hathaway, Azkonobel,
Berger Paints India, and BASF SE among others.
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potential absolute dollar opportunity.
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