The acrylic powder market has shown robust growth, projected to grow from $50.52 billion in 2023 to $54.48 billion in 2024, with a CAGR of 7.8%. Factors contributing to this growth include higher disposable incomes, expansion of nail salons, growth in the spa industry, a rise in men's grooming products, and an aging population.
The acrylic powder market is projected to grow to $73.98 billion by 2028, expanding at a CAGR of 8%. Growth factors include rising consumer awareness, the rise of online retail, a focus on hygiene and safety, the demand for vegan and cruelty-free products, and the growth of educational workshops. Trends include customization in product formulations, innovations in fast-drying acrylic powders, integration of technology in applications, advancements in color technology, and improved product shelf life.
Major Driver In The Acrylic Powder Market
The rising demand in the cosmetics and beauty industry is expected to propel the growth of the acrylic powder market. The cosmetics and beauty industry, encompassing a wide range of products and services for enhancing appearance, is growing due to increasing consumer awareness about grooming, technological advancements in product formulation, and the rising demand for personal care items. Acrylic powder is widely used in the cosmetics industry to improve the durability and finish of nail products, providing a strong base for nail enhancements and designs. In October 2023, the Bureau of Labor Statistics reported a 12.3% rise in personal care products and services in 2022, following a 19.3% increase in 2021. This growing demand in the cosmetics and beauty industry is expected to drive the acrylic powder market, which is projected to reach $320 million in 2024 and $450 million by 2028.
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Acrylic Powder Market Competitive Landscape
BASF SE, Dow Inc., LG Chem Ltd., Mitsubishi Chemical Corporation, DIC Corporation, OPI Products LLC, Troy Corporation, Mia Secret Inc., Esschem Europe, Young Nails Inc., Glam and Glits Nail Design Inc., Tammy Taylor Nails Inc., Akzentz, Star Nail International, EzFlow, Nailite Inc., Supernail, Kupa Inc., Modelones, Gelish, Kiara Sky, Entity Beauty
Key Acrylic Powder Market Trend
In the acrylic powder market, companies are developing nail art powders with self-leveling formulas to ensure smooth applications. For instance, in August 2023, Legacy Nails Products launched a magenta-colored acrylic nail powder collection, providing vibrant, professional-grade products for creating stunning nail designs.
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Global Acrylic Powder Market Segmentation
The acrylic powder market covered in this report is segmented –
1) By Type: Clear Acrylic Powder, Colored Acrylic Powder, Glitter Acrylic Powder, Other Specialty Acrylic Powders
2) By Application: Fingernail, Plastisol Production, Textile Printing Inks, Specialty Coatings, Dry Film Photo, Other Applications
3) By End Users: Beauty Salons, Households, Other Commercial Establishments
By Geography:The regions covered in the acrylic powder marker report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
North America was the largest region in the acrylic powder market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The Acrylic Powder Global Market Report 2024 furnishes information about the global acrylic powder market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
