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2024 Acrylic Surface Coating Market Report : Market Size, Growth Drivers, And Key Trends
Acrylic Surface Coating Global Market Report 2024
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According to The Business Research Company's, The acrylic surface coating market size has grown strongly in recent years. It will grow from $27.15 billion in 2023 to $29.11 billion in 2024 at a compound annual growth rate (CAGR) of 7.2%. The growth in the historic period can be attributed to increasing demand from the construction sector, rise in automotive production, growing infrastructure development, increasing disposable incomes, and rising demand for protective coatings.
The acrylic surface coating market size is expected to see strong growth in the next few years. It will grow to $38.97 billion in 2028 at a compound annual growth rate (CAGR) of 7.6%. The growth in the forecast period can be attributed to growth in green building practices, rising demand for smart coatings, increasing demand from emerging economies, growing refurbishment and renovation activities, and rising demand for energy-efficient buildings. Major trends in the forecast period include shift toward water-based acrylic coatings, integration of nanotechnology in surface coatings, development of hybrid acrylic coatings, advancements in bio-based acrylic coatings, and advancements in coating technology.
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Market Drivers and Trends:
The rising demand in building and construction is expected to propel the growth of the acrylic surface coating market going forward. Building and construction refer to the processes involved in creating and assembling structures, including residential, commercial, and infrastructure projects. The demand for buildings and construction is due to increasing urbanization, population growth, and demand for infrastructure development, which drive investments in residential, commercial, and industrial projects. Acrylic surface coating is used in building and construction to provide durable, weather-resistant finishes that enhance the appearance and longevity of surfaces. For instance, in March 2023, according to the Office for National Statistics, a UK-based government administration, total annual construction output rose by 5.6% in 2022 compared to 2021, following a record surge of 12.8% in 2021. Therefore, the rising demand in building and construction will propel the growth of the acrylic surface coating market.
Major companies operating in the acrylic surface coating market are focusing on developing innovative products, such as acrylic paints, to provide an eco-friendly, sustainable alternative for artists and crafters while reducing waste and environmental impact. Acrylic paints are a type of acrylic surface coating that consists of pigments suspended in an acrylic polymer emulsion, which serves as the binder. For instance, in April 2024, Decoart, a US-based manufacturer of acrylic paints and specialty finishes, launched a DecoEARTH. It is an all-purpose acrylic paint made with 70% recycled materials, specifically formulated from reclaimed house paint that would otherwise end up in landfills, offering artists and crafters a sustainable option with 27 mixable colors, a premium matte finish, and excellent coverage across various surfaces, including canvas, wood, and metal; it adheres smoothly and provides a buttery consistency, making it easy to apply, and its water-based formulation ensures easy cleanup while being non-toxic and environmentally friendly, appealing to both art educators and hobbyists looking for high-quality, eco-conscious materials.
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• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
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• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
Major Key Players of the Market:
BASF SE, 3M Company, The Sherwin-Williams Company, PPG Industries Inc., Arkema S.A., Sika AG, Nippon Paint Holdings Co Ltd., RPM International Inc., Asian Paints Ltd., Jotun A/S, Axalta Coating Systems LLC, Berger Paints India Ltd., Lawson Products Inc., Benjamin Moore & Co, Rust-Oleum Corporation, Dunn-Edwards Corporation, Brillux GmbH & Co KG, Hempel A/S, Carboline Company, Krylon Products Group, Resene Paints, Dulux Paints
Acrylic Surface Coating Market 2024 Key Insights:
• The acrylic surface coating market size is expected to see strong growth in the next few years. It will grow to $38.97 billion in 2028 at a compound annual growth rate (CAGR) of 7.6%.
• Growth Of The Acrylic Surface Coating Market Driven By Rising Demand In The Building And Construction Industry
• Innovations In The Acrylic Surface Coating Market
• Asia-Pacific was the largest region in the acrylic surface coating market in 2023
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