Why the Acrylic Surface Coating Market is Set to Explode? Top Companies: BASF, Axalta, NIPSEA Group, PPG Industries, Dow, Sherwin-Williams, Valspar, Asian Paints, Benjamin Moore & Co. & Brillux GmbH & Co. KG Industrielack

The global acrylic surface coating market was valued at $24,121.1 million in 2015 and is expected to grow at a CAGR of 5.2% during 2016 – 2022, to reach $34,720.3 million by 2022. The market will be growing at a significant rate due to the increased demand from the household segment for decorative purposes, industrial and infrastructural expansion largely in developing nations and applications ranging from furniture, automobiles to traffic lights and many others.

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Taking into account of geographical landscape, Asia-Pacific dominated the acrylic surface coating market and is expected to retain its dominance by 2022, with 47.0% share in terms of value. The Asia-Pacific acrylic surface coating industry is expected to witness the fastest growth during the forecast period and is set to reach $16,318.5 million by 2022. The major reasons behind the growth of the market for acrylic surface coating in the region include increasing investment for infrastructure development, rapid growth in automotive sector large consumer base, increased spending power and growing compliance for environment friendly coating.

Acrylic surface coating market has a good growth potential during the forecast period. The increasing demand for decorative paints is driving the growth of the global acrylic surface coating industry. These coatings have applications ranging from exterior walls to interior decoration and furniture, and automobiles to traffic lights. With the increasing disposable income and urbanization, the demand for aesthetically appealing and decorative coats is also increasing. The increasing investment for infrastructural development in emerging economies is creating ample growth opportunities for the acrylic surface coating industry and is driving the market growth.

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The players in the acrylic surface coating market are undergoing mergers and acquisitions to improve their position in the market. For instance, in April 2016, BASF signed an agreement to acquire the assets of Guangdong Yinfan Chemistry Co., Ltd. (“Yinfan”) in China. With the acquisition, BASF will establish a better production footprint by gaining access to the automotive refinish coatings plant in China. It will also enable BASF to broaden its automotive refinish portfolio in Asia-Pacific by adding the Yinfan line of products to its global brands, including Glasurit, R-M, baslac and Norbin.

Some of the major players operating in the acrylic surface coating market include BASF SE, Axalta Coating Systems, NIPSEA Group, PPG Industries Inc., The Dow Chemicals Company, The Sherwin-Williams Company, The Valspar Corporation, Brillux GmbH & Co. KG, Benjamin Moore & Co., and Asian Paints.

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