Global Acrylic Water Based Paints Market Size Forecast 2024 - 2033
18 Dec, 2024
What Is The Scope Of The Global Acrylic Water Based Paints Market?
Acrylic water-based paints refer to a type of paint composed of acrylic polymer emulsion as a binder and water as a solvent, offering quick drying times, low odor, and easy cleanup. These paints are known for their versatility, adhesion to various surfaces, and durability, making them suitable for interior and exterior applications in both residential and commercial settings.
Acrylic Water Based Paints Global Market Report 2024 provides data on the global acrylic water based paints market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The acrylic water based paints market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
How Is The Global Acrylic Water Based Paints Market Expected To Grow In Size And Annual Rates?
The acrylic water-based paints market has experienced strong expansion, growing from $31.81 billion in 2023 to $33.92 billion in 2024, with a CAGR of 6.6%. Historical growth has been driven by stringent environmental regulations, rising consumer awareness about health and environmental benefits, shifts towards sustainable construction materials, growth in construction and renovation activities, and government initiatives supporting eco-friendly practices. The market is expected to reach $44.05 billion by 2028, growing at a CAGR of 6.8%, supported by emerging applications, digitalized marketing strategies, increased focus on sustainability, deeper penetration in developing regions, and demand for customizable color options. Major trends include advanced formulations, innovative packaging, digital color-matching tools, use of biodegradable additives, integration of IoT and smart monitoring systems, and modular paint systems.
What Main Forces Are Fueling Expansion In The Acrylic Water Based Paints Market?
The growth in construction activities is expected to stimulate the demand for acrylic water-based paint. Construction encompasses activities related to creating, renovating, or modifying buildings and infrastructure. The increase in construction is driven by factors such as urbanization, infrastructure projects, and a booming real estate market, which collectively boost demand for acrylic water-based paints. These paints are widely used for interior and exterior applications in construction projects, including renovations and maintenance. For instance, the Office for National Statistics reported in November 2023 that new construction orders in Great Britain increased by 3.9% (£393 million) in the third quarter of 2023 compared to the previous quarter, with significant growth in public and infrastructure projects. This rise in construction activity supports the growth of the acrylic water-based paint market.
Get Your Free Sample of the Global Acrylic Water Based Paints Market ReportWhat Are The Primary Segments In The Global Acrylic Water Based Paints Market?
The acrylic water based paints market covered in this report is segmented –
1) By Component: Pigment, Binder, Other Component
2) By Substrate Material: Metal, Paper, Wood, Canvas, Fabric, Glass, Other Substrate Materials
3) By Application: Skirting Board, Metal Appliances, Outdoor Furniture, Architectural Paints, Bridges, Other Applications
4) By End-Use Industry: Building And Construction, Electrical And Electronics, Textile, Footwear, Furniture, Other End-Use Industries
Which Key Trends Are Driving Changes In The Acrylic Water Based Paints Market?
Companies in the acrylic water-based paint market are innovating by incorporating bio-based technology, which replaces petroleum-derived resins with natural plant-based ingredients. This technology aims to reduce the carbon footprint of paint production while providing environmentally sustainable solutions. For instance, in January 2023, PT Mowilex Indonesia, a company that manufactures premium paints and coatings, launched Naturalle Paint, a water-based acrylic paint featuring bio-based technology that includes 28% renewable raw materials. This eco-friendly paint helps improve indoor air quality by removing formaldehyde, using plant-based elements, and offering a zero-VOC formula with the ability to absorb formaldehyde.
What Is The Leading Region In The Acrylic Water Based Paints Market?
Asia-Pacific was the largest region in the acrylic water based paints market in 2023. The regions covered in the acrylic water based paints market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.