Acrylic Paints Market size is forecast to reach $XX.XX million by 2025, after growing at a CAGR of 5.5% during 2020-2025. The Acrylic Paints market is driven by owing to increasing demand from various industry verticals. Acrylic paints have their own special and wonderful features that are difficult to achieve in any other media.
Acrylic Paints Market size is forecast to reach $XX.XX million by 2025, after growing at a CAGR of 5.5% during 2020-2025. The Acrylic Paints market is driven by owing to increasing demand from various industry verticals. Acrylic paints have their own special and wonderful features that are difficult to achieve in any other media.
Acrylic Paints Market Report Coverage
The report: “Acrylic Paints Market- Forecast (2020-2025)”, by IndustryARC, covers an in-depth analysis of the following segments of the Acrylic Paints industry.
By Type: Heavy Body Acrylics, Fluid Acrylics, Interactive and Open Acrylics, Others.
By Application: Fabrics, Wood, Metal, Ceramics, Walls, Paintings, and Others.
By End Use: Building and Construction, Textile, Home Furnishing, Educational Institutions, and Others.
By Geography: North America, South America, Europe, APAC, and RoW.
Key Takeaways
North America dominates the Acrylic Paints market owing to strong consumption of Acrylic Paints across various industry verticals.
Moreover, the growth of the painting (artisans) will also increase the consumption of Acrylic Paints in the region.
Moreover, the ongoing M&A activities among suppliers would further cater to the growth in Global Acrylic Paints Market.
Surging R&D activities are some of the opportunities which are expected to fuel the market.
Acrylic Paints Market Segment Analysis - By Type
Fluid Acrylics held the largest share in the Acrylic Paints market in 2019. Fluid Acrylics The acrylic / water emulsion has a slightly milky look and becomes translucent when the paint dries. This milkiness lightens the value of the color slightly. If the water leaves the emulsion and the binder clears, the value of the pigment is darkened. This color transition is generally referred to as a wet-to-dry color shift and is most evident with dark transparent pigments such as alizarin and less apparent with light opaque pigments such as cadmium yellow.
Acrylic Paints Market Segment Analysis - By Application
Paintings has been the primary market for Acrylic Paints in 2019. The increasing popularity of new models offering better finishing and textures, the per capita income of people and efforts on the part of manufacturers to introduce improved versions such as eco-friendly, odor-free and dust-proof paints and water-proof paints have stimulated the growth of the painting application. Over the years, this evolving preference has boosted the popularity of acrylic paintings among artists. In addition, the excellent properties of acrylic paint extend their acceptance among artists worldwide. Acrylic paints are low-maintenance mediums that do not require customized supplies such as traditional oil paints. They deliver the benefits of better quality and texture. The flexible nature of acrylic paints makes them the perfect medium for artists to paint on various styles of paintings. Artists are the main users of acrylic paint. Currently, the industry has been affected by COVID-19 pandemic. The pandemic has changed all the market conditions and hampers the growth of the various sectors of the Acrylic Paint market
Acrylic Paints Market Segment Analysis - By End Use
Building and Construction has been the primary market for Acrylic Paints in 2019 growing at a CAGR of 12%. Acrylic paints have been preferred for coatings on external home structures because they are water resistant, particularly during the wet season, so demand is likely to increase. With the growing construction industry and its demand for acrylic paints particularly in the regions of Asia-Pacific, North America and Europe, the demand of acrylic paints for all kinds of buildings is expected to see an upsurge. Residential application segment is witnessing growth due to the rising penetration from untapped markets. Furthermore, R&D in acrylic paints will support the growth of the solar glass market.
Acrylic Paints Market Segment Analysis - By Geography
North America dominated the Acrylic Paints market with a share of more than 42%, followed by Europe and APAC. North America has become the most remunerative area for market players due to the growing use of acrylic paints in construction activities. However, with the concentration of opportunities in infrastructure construction projects, the demand for acrylic painting in North America is poised to enter a mature market in the near term. As such, market players are turning to untapped regions such as Latin America and Asia Pacific (APAC) and revenue generation. Increasing foreign direct investment (FDI) and technology proliferation in countries such as Mexico, India, Colombia and Indonesia are generating remunerative opportunities for producers. Supportive government investments and tax policies further the growth of infrastructure production, which in turn is resulting in demand for acrylic paint.
Acrylic Paints Market Drivers
Technology driven advancements will drive the market
The technical advances in the end-use application of acrylic paints are key factors in the growth of the industry. The scope of application of acrylic paints is expanding with an increasing number of compatible media. Acrylic paint can be applied to paper, canvas, walls and several other surfaces. R&D of high-performance acrylic paint bonds is one of the main competitive differentiation strategies. Significant players are using market intelligence such as customer preferences and geographic analysis to build research and development activities.
Acrylic Paint impact on Environment can restrict the market growth
Pigments of acrylic paints contain toxins. The addition of a retardant medium to decelerate the drying time for certain applications also leads to the toxicity of acrylic paints. However, fast-drying paints often appear to dry quickly on the pallet and require the use of special pallets to deal with it. The use of acrylic paints may be troublesome for young aspiring artists, who may be slower. This is also one of the obstacles for the growth of the Acrylic Paints Industry.
Acrylic Paints Market Landscape
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Acrylic Paints market. In 2019 the Acrylic Paints market has been consolidated by the top five players accounting for xx% of the share. Major players in the Acrylic Paints market are BASF SE, Asian Paints, Berkshire Hathaway, AkzoNobel N.V and Others.
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