Vinyl Surface Coatings Market Dynamics and Forecast Report 2024

"The Business Research Company recently released a comprehensive report on the Global Vinyl Surface Coatings Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, The vinyl surface coatings market size has grown strongly in recent years. It will grow from $5.45 billion in 2023 to $5.77 billion in 2024 at a compound annual growth rate (CAGR) of 6.0%. The growth in the historic period can be attributed to the rising use of vinyl coatings for vehicle interiors and exteriors, rapid urban development, advancements in polymer technology, rising consumer demand for durable coatings, increase in renovation and remodeling projects.

The vinyl surface coatings market size is expected to see strong growth in the next few years. It will grow to $7.39 billion in 2028 at a compound annual growth rate (CAGR) of 6.4%. The growth in the forecast period can be attributed to growing demand for eco-friendly, low-voc vinyl coatings, rising construction activities, growth in automotive industry, rising demand in packaging industry, and emergence of lightweight materials. Major trends in the forecast period include increased demand for customization, growth in smart coatings, advances in uv-resistant coatings, higher use in green building materials, and digitalization of manufacturing processes.

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Market Drivers and Trends:

The rising construction sectors are expected to propel the growth of the vinyl surface coatings market going forward. The construction industry refers to the sector responsible for the planning, designing, and building infrastructure and residential, commercial, and industrial structures. Increasing urbanization, infrastructure development, and growing investments in residential, commercial, and industrial projects drive the rising construction sector. Vinyl surface coatings are used in construction for their durability, moisture resistance, and protective finish, making them ideal for walls, floors, and exterior surfaces. For instance, in August 2024, according to the Australian Bureau of Statistics, an Australia-based government agency, the Australian building work reached $33,815.0 million in 2023, an increase from $32,443.2 million in June 2022. Therefore, the rising construction sectors are driving the growth of the vinyl surface coatings market.

Major companies operating in the vinyl surface coatings market are focused on developing innovative solutions, such as styrene acrylic emulsion, to offer exceptional washability and scrub resistance, allowing easy touch-ups without impacting the finished application. Styrene-acrylic emulsions are commonly used in vinyl surface coatings due to their excellent adhesion, flexibility, and resistance to environmental factors. When applied to vinyl surfaces, these emulsions serve as a protective and decorative layer, enhancing durability and aesthetic appeal. For instance, in June 2024, Trinseo, a US-based manufacturing company, launched the LIGOS C 9031, a styrene acrylic emulsion. LIGOS C 9031, a styrene acrylic emulsion, offers enhanced flexibility, excellent adhesion to various substrates, and superior durability against environmental stressors. Its formulation provides high-performance results in coatings, adhesives, and sealants.

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Major Key Players of the Market:

BASF SE, 3M Company, Sherwin-Williams, DuPont de Nemours Inc., Arkema S.A, Sika AG, Nippon Paint Holdings Co. Ltd., Celanese Corporation, Wacker Chemie AG, Masco Corporation, RPM International Inc., KCC Corporation, Axalta Coating Systems, Asian Paints Ltd., Kansai Paint Co. Ltd., Avient Corporation, Jotun Group, Benjamin Moore, Akzo Nobel N.V., Hempel Holding A/S, Axalta Coating Systems LLC, APV Engineered Coatings, labsurface, Gellner Industrial LLC

Vinyl Surface Coatings Market 2024 Key Insights:

• The vinyl surface coatings market size is expected to see strong growth in the next few years. It will grow to $7.39 billion in 2028 at a compound annual growth rate (CAGR) of 6.4%.
• Growth In Construction Sector Fuels Demand For Vinyl Surface Coatings
• Innovative Styrene Acrylic Emulsions Boost Performance In Vinyl Surface Coatings
• North America was the largest region in the vinyl surface coatings market in 2023

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