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Acrylic Powder Coating Market is Anticipated to Expand upto $1.98 Billion in 2029
Acrylic Powder Coating
What Is the Forecasted Market Growth Rate of the Acrylic Powder Coating Industry?
The market for acrylic powder coating has seen sustained growth over the past few years. Expectations are for it to expand from a value of $1.53 billion in 2024 to $1.6 billion in 2025, reflecting a 4.5% compound annual growth rate (CAGR). This historical growth trend is largely due to its increased application in the electronic sector, heightened demand for aesthetically pleasing materials, the thriving construction sector, amplified distribution channels, and a burgeoning demand within the cosmetics and beauty industry.
How Will the Acrylic Powder Coating Market Size Evolve From 2025 to 2029?
The market size of acrylic powder coating is anticipated to expand significantly in the upcoming years, with an expectation to reach $1.98 billion by the year 2029. This growth equates to a compound annual growth rate (CAGR) of 5.5%. The projected growth during this forecast period is due to factors like increased usage in the automotive sector, heightened demand for nail products, rising industrialization, broader application in the furniture industry, and environmentally-friendly regulations that support powder coatings. The significant trends expected within this period involve technological progress, application diversity, the advent of functional coatings, high-temperature applications, and the emphasis on ecologically sound solutions.
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What Are the Main Growth Drivers in the Acrylic Powder Coating Market Today?
Amplification in the automotive industry is anticipated to propel the acrylic powder coating market's expansion. The automotive industry involves creating, producing, advertising, and selling various motor vehicles, comprising cars, trucks, motorcycles, along with their components and accessories. Factors such as escalating worldwide demand for electric cars, advancements in autonomous driving technologies, and enhanced consumer predilection for mobility alternatives and intelligent transportation systems are driving the auto industry's progress. Acrylic powder coating, employed in the automobile industry, offers resilient, weather-proof, and UV-stable finishes that safeguard vehicular surfaces against corrosion, scuffs, and environmental damage while improving their aesthetic appeal. For instance, the Office for National Statistics, a UK-based governmental agency, reported in September 2024 that the manufacturing sector for motor vehicles experienced a growth spurt, climbing by $12.8 billion (£9.6 billion) (22.0%) to touch $71 billion (£53.3 billion) in 2023. Consequently, the escalating adoption in the automotive industry is promoting the expansion of the acrylic powder coating market.
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Which Acrylic Powder Coating Market Segment Is Expected to Lead Through 2029?
The acrylic powder coating market covered in this report is segmented -
1) By Type: Thermoplastic Acrylic Powder Coatings, Thermosetting Acrylic Powder Coatings
2) By Technology: Electrostatic Spray, Fluidized Bed, Electrostatic Fluidized Bed
3) By Formulation: Glossy, Semi-Glossy, Matte, Metallic, Textured
4) By Chemical Resistance: High Chemical Resistance, Medium Chemical Resistance, Low Chemical Resistance
5) By Application: Automotive, Construction, Appliances, Furniture, Aerospace
Subsegments:
1) By Thermoplastic Acrylic Powder Coatings: High-Gloss Coatings, Matte Coatings, Textured Coatings
2) By Thermosetting Acrylic Powder Coatings: Epoxy Polyester Coatings, Pure Acrylic Coatings, Hybrid Coatings
Which Market Trends Are Expected to Dominate Acrylic Powder Coating Industry Growth?
Major enterprises in the acrylic powder coating market are prioritizing the creation of innovative goods such as acrylic coating systems to deliver a sleek, highly glossy finish. Acrylic coating systems are protective coatings made with acrylic resins and are designed to provide robust, weather-proof, and UV-stable coatings for a variety of surfaces, improving their aesthetics and shielding them from environmental wear and tear. For example, Akzo Nobel N.V., a Netherlands-based paint and coatings corporation, introduced the Selva Pro range of 2K polyurethane and acrylic coating systems in July 2024. The Selva Pro selection includes three systems: the Selva Pro Chiaro and Selva Pro Bianco polyurethane systems, as well as the Selva Pro Acrilico acrylic system. Selva Pro Acrilico has a sleek design that enhances the natural elegance of wood grain, making it an excellent choice for expressive and high-quality wood types. It offers a range of finish options, including pigmented, neutral, and clear topcoats, plus a 'Naturale' topcoat with a contemporary dead flat finish that aligns with current design trends. Like Selva Pro Bianco, the Acrilico neutral topcoat offers superior tinting stability when used with a neutral base.
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Which Companies Hold the Largest Market Share in the Acrylic Powder Coating Sector?
Major companies operating in the acrylic powder coating marker are BASF SE, Covestro AG, PPG Industries Inc., Evonik Industries AG, Akzo Nobel N.V., Nippon Paint, DIC Corporation, KCC Corporation, Axalta Coating Systems, Asian Paints Limited, Kansai Paint, Jotun AS, Tiger Coatings, IFS Coatings, Anderson Development Company, Tamiras, ABITL Finishing Inc., Hosokawa Alpine AG, Vijay Coat Powder Coatings, Primco Paints
Where Is the Acrylic Powder Coating Market Experiencing the Highest Growth?
Asia-Pacific was the largest region in the acrylic powder coating market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the acrylic powder coating marker report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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