What Has Been the Progress and Growth of the Acrylic Water Based Paints Market in Recent Years?
The acrylic water based paints market has seen considerable growth due to a variety of factors.
• The acrylic water-based paints market is projected to grow from $33.92 billion in 2024 to $36.29 billion in 2025, at a CAGR of 7.0%.
Factors driving this growth include stricter environmental regulations, growing consumer awareness of the health and environmental benefits of these paints, changes in architectural trends towards sustainability, expansion in construction and renovation, and government support.
What Is The Expected Growth In The Acrylic Water Based Paints Market?
The acrylic water based paints market is expected to maintain its strong growth trajectory in upcoming years.
• The acrylic water-based paints market is projected to grow to $46.93 billion by 2029, with a CAGR of 6.6%.
This growth is attributed to emerging applications, digital marketing strategies, sustainability efforts in the paint industry, growing demand in developing regions, and the desire for customization. Key trends include advanced formulation techniques, innovative packaging solutions, smart paint monitoring systems, and the use of biodegradable additives.
What Main Forces Are Fueling Expansion In The Acrylic Water Based Paints Market?
The increasing construction activities are expected to boost the acrylic water-based paint market. Construction activities involve building, renovating, or modifying structures. This growth in construction is fueled by urbanization, infrastructure development, and expanding real estate markets. Acrylic water-based paints are commonly used in both interior and exterior applications in construction projects. For example, in November 2023, the Office for National Statistics reported that new construction orders in Great Britain increased by 3.9% in Quarter 3 of 2023 compared to Quarter 2. This rise, driven by public infrastructure projects, is supporting the demand for acrylic water-based paints.
What 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
Subsegments:
1) By Pigment: Organic Pigments, Inorganic Pigments, Titanium Dioxide, Iron Oxide Pigments, Other Specialty Pigments
2) By Binder: Acrylic Resin, Styrene-Acrylic Resin, Pure Acrylic Resin, Other Synthetic Resins
3) By Other Component: Solvents (Water, Alcohols, Glycol-Based), Additives (Thickeners, Dispersants, Surfactants), Fillers (Calcium Carbonate, Kaolin), Preservatives (Antimicrobial Agents), Other Chemical Additives (UV Stabilizers, Anti-corrosive Agents)
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Which Key Trends Are Driving Changes In The Acrylic Water Based Paints Market?
Companies in the acrylic water-based paint market are adopting bio-based technologies, using plant-derived ingredients to replace petroleum-based resins, aiming to reduce the carbon footprint while providing eco-friendly alternatives. For instance, in January 2023, PT Mowilex Indonesia launched Naturalle Paint, a water-based acrylic binder containing 28% renewable raw materials. The paint also removes formaldehyde from indoor air and improves indoor air quality with its zero-VOC formulation, contributing to sustainability and a healthier environment.
Who Are the Key Players In The Acrylic Water Based Paints Market?
Major companies operating in the acrylic water based paints market are:
• BASF SE
• Sherwin-Williams Company
• PPG Industries Inc.
• Akzo Nobel N.V.
• Nippon Paint Holdings Co. Ltd.
• Masco Corporation
• RPM International Inc.
• Axalta Coating Systems Co. Ltd.
• Diamond Vogel Paints
• Valspar Corporation
• Kansai Paint Co. Ltd.
• Asian Paints Limited
• Jotun A/S
• Cromology
• Hempel A/S
• DAW SE
• Benjamin Moore And Co.
• Dunn-Edwards Corporation
• Teknos Group
• Tikkurila
• Kelly-Moore Paints
• Flugger Group
• Tamiya Incorporated
• Musashi Paint Co. Ltd.
• Meffert AG Farbwerke
What Is The Most Dominant 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.
