The Global Water-based acrylic Coating Market is projected to reach the value of $102.58 billion by 2030

According to the report published by Virtue Market Research , In 2022, the Global Water-based acrylic Coating Market was valued at $77.9 billion, and is projected to reach a market size of $102.58 billion by 2030. Over the forecast period of 2023-2030, market is projected to grow at a CAGR of 3.5%. The water-based acrylic coating market has witnessed significant growth in recent years, driven by various factors such as increased demand from end-use industries, stringent environmental regulations, and the shift towards sustainable coatings.

One of the key long-term market drivers for water-based acrylic coatings is the growing awareness and adoption of environmentally friendly coatings. With increasing concerns about the ecological impact of traditional solvent-based coatings, there has been a remarkable shift towards water-based alternatives. These coatings are formulated with water as the primary solvent, reducing volatile organic compounds (VOCs) emissions and minimizing environmental hazards. The stringent regulations imposed by governments worldwide to limit VOC emissions further propel the demand for water-based acrylic coatings.

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The COVID-19 pandemic has had a mixed impact on the water-based acrylic coating market. While the global lockdowns and disruptions in industrial activities initially hampered the market growth, the subsequent rebound in construction and renovation projects has driven the demand for coatings, including water-based acrylics. As people spent more time at home during the pandemic, there was an increased focus on home improvement and maintenance activities. This surge in demand for coatings to refurbish residential and commercial spaces has positively influenced the market.

Additionally, the heightened emphasis on hygiene and cleanliness due to the pandemic has fueled the demand for antimicrobial coatings, including water-based acrylic formulations.

A short-term market driver for water-based acrylic coatings is the rising demand from the automotive industry. Water-based acrylic coatings offer excellent adhesion, durability, and weather resistance, making them suitable for automotive applications such as exterior body coatings and interior parts. With the increasing production and sales of automobiles, especially electric vehicles, the demand for water-based acrylic coatings is expected to witness significant growth in the short term.

One promising opportunity within the water-based acrylic coating market lies in the construction industry. The construction sector is experiencing robust growth, driven by infrastructure development, urbanization, and increasing investments in commercial and residential projects.

Water-based acrylic coatings find extensive application in construction, including building exteriors, facades, roofs, and flooring. The rising demand for sustainable construction practices and the need for protective coatings to enhance the longevity of structures present a significant opportunity for water-based acrylic coatings manufacturers to expand their market presence.

A notable trend observed in the water-based acrylic coating industry is the increasing focus on research and development (R&D) activities to enhance the performance and functionality of coatings. Manufacturers are investing in the development of advanced formulations that offer improved durability, chemical resistance, and weatherability. Additionally, there is a growing trend towards the use of nanotechnology in water-based acrylic coatings, enabling enhanced properties such as self-cleaning, UV resistance, and antimicrobial capabilities. The integration of nanotechnology in coatings is expected to revolutionize the industry and open new avenues for growth and innovation.

Segmentation Analysis:

The Global Water-based acrylic Coating Market segmentation includes:
By Application: Architectural Wood, Automotive Aftermarket, Protective Coatings, Construction Material, Automotive OEM, Metal Packing, Others
Architectural wood emerges as the largest segment in terms of demand. Water-based acrylic coatings are extensively used to protect and enhance the appearance of wood surfaces in residential and commercial buildings. These coatings provide durability, weather resistance, and aesthetic appeal, making them an ideal choice for furniture, doors, windows, and flooring in the architectural wood industry.

Another application segment with significant growth potential during the forecast period is the automotive aftermarket. Water-based acrylic coatings find application in refinishing automotive components and body parts. As consumers increasingly seek to maintain and refurbish their vehicles, the demand for high-quality coatings in the automotive aftermarket is witnessing a rapid surge. Water-based acrylic coatings offer advantages such as excellent adhesion, color retention, and resistance to chipping and fading. These factors contribute to the segment's robust growth prospects.

By Resin Outlook: Acrylic, Polyester, Alkyd, Epoxy, Polyurethane, Polytetrafluoroethylene, Polyvinylidene Fluoride, Polyvinylidene Chloride, Others

When examining the market based on resin outlook, acrylic emerges as the largest segment in the water-based acrylic coating industry. Acrylic resins are widely used due to their exceptional properties, including good weatherability, gloss retention, and chemical resistance. These coatings find extensive application in various sectors such as construction, automotive, and packaging. Acrylic-based water-based coatings offer superior adhesion, fast drying times, and versatility, making them a preferred choice for different substrates and applications.
Additionally, the polyester segment is projected to be the fastest-growing during the forecast period.
Polyester resins exhibit excellent resistance to UV radiation, chemicals, and abrasion, making them suitable for demanding applications. The increasing adoption of water-based acrylic coatings in industries such as automotive OEM, metal packaging, and protective coatings is driving the demand for polyester resins. These coatings provide enhanced durability and corrosion resistance, meeting the stringent requirements of these sectors.

By End Use: Construction, Woodworking, General Industries, Building, Automotive, Packaging, Others
The woodworking segment emerges as the largest in terms of demand. Water-based acrylic coatings find extensive application in woodworking activities, such as furniture manufacturing, cabinetry, and decorative finishes. These coatings offer excellent adhesion to wood substrates, provide enhanced durability and protection against wear and tear, and offer a wide array of color options. The woodworking industry's reliance on water-based acrylic coatings for enhancing the aesthetic appeal and longevity of wood products contributes to its dominance in this segment.

Another end-use segment exhibiting significant growth during the forecast period is general industries. General industries encompass various sectors such as electronics, appliances, machinery, and consumer goods. Water-based acrylic coatings are widely used in these industries due to their versatility, adhesion properties, and resistance to chemicals and corrosion. The demand for water-based acrylic coatings in general industries is driven by the increasing need for protective coatings that enhance the durability and performance of products. These coatings provide a smooth and uniform finish, offering excellent visual appeal and protection against external factors. The growing focus on product aesthetics, coupled with the need for reliable protection, drives the general industries segment's growth in the water-based acrylic coating market.

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Regional Analysis:

North America emerges as the largest market in this segment. The region's growth can be attributed to several factors, including the presence of major coating manufacturers, advanced technological capabilities, and stringent environmental regulations. The demand for water-based acrylic coatings in North America is driven by the construction industry's growth, the increasing adoption of sustainable coatings, and the need for eco-friendly solutions across various sectors.

On the other hand, the Asia-Pacific region is projected to be the fastest-growing market during the forecast period. The region's rapid economic development, urbanization, and industrialization contribute to the increasing demand for water-based acrylic coatings. Rising infrastructure projects, growing automotive production, and the flourishing packaging industry are key factors driving the market's growth in Asia-Pacific.

Additionally, the rising awareness about environmental sustainability and the implementation of strict regulations on VOC emissions fuel the adoption of water-based acrylic coatings in the region.

Latest Industry Developments:

• In June 2021, PPG Industries Inc. introduced the PPG AQUACRON 270 Series waterborne acrylic sanding primer, a single-component primer/sealer for interior wood furniture. The product offers high-solids content, excellent filling properties, and easy sanding.

• In March 2021, AkzoNobel N.V. formed a business partnership with BMW Group, supplying their Sikkens brand of water-based acrylic coatings for BMW's new plant in San Luis Potosi, Mexico. This collaboration aims to deliver high-quality and sustainable coatings solutions for BMW's premium vehicles.

• In January 2021, the American Coatings Association (ACA) launched the Coatings Care program as an industry initiative. This voluntary program promotes responsible management practices among coatings manufacturers, covering areas such as environmental protection, health and safety performance, product stewardship, and community involvement.

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Virtue Market Research is a strategic management firm helping companies to tackle most of their strategic issues and make informed decisions for their future growth. We offer syndicated reports and consulting services. Our reports are designed to provide insights on the constant flux in the global demand-supply gap of markets.

This release was published on openPR.