The acrylic surface coating market has expanded considerably, with an increase from $27.15 billion in 2023 to $29.11 billion in 2024, at a CAGR of 7.2%. Growth has been driven by demand from the construction sector, increased automotive production, infrastructure development, rising disposable incomes, and demand for protective coatings.
The acrylic surface coating market is expected to reach $38.97 billion by 2028, growing at a CAGR of 7.6%. The market growth is driven by increased demand for green building practices, smart coatings, rising demand from emerging economies, growth in refurbishment and renovation, and the demand for energy-efficient buildings. Trends include the shift towards water-based coatings, nanotechnology integration, hybrid coating development, bio-based coating innovations, and advancements in coating technologies.
Major Driver In The Acrylic Surface Coating Market
The growth in the building and construction sector is expected to propel the acrylic powder market in the coming years. The building and construction sector is expanding due to urbanization, increased infrastructure spending, and a rising demand for residential and commercial properties, coupled with advancements in construction technologies. Acrylic powder is used in this sector to enhance the strength, durability, and aesthetic appeal of materials such as concrete, plasters, and coatings, improving their resistance to environmental factors. According to the Office for National Statistics, in 2022, total new work in the UK increased by $22.7 billion (£18.2 billion), driven by growth in both the private and public sectors, which saw rises of 16.8% and 13.1%, respectively. The growth in the building and construction sector is expected to propel the acrylic powder market, with projections of $400 million by 2024 and $550 million by 2028.
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Acrylic Surface Coating Market Competitive Landscape
BASF SE, 3M Company, The Sherwin-Williams Company, PPG Industries Inc., Arkema S.A., Sika AG, Nippon Paint Holdings Co Ltd., RPM International Inc., Asian Paints Ltd., Jotun A/S, Axalta Coating Systems LLC, Berger Paints India Ltd., Lawson Products Inc., Benjamin Moore & Co, Rust-Oleum Corporation, Dunn-Edwards Corporation, Brillux GmbH & Co KG, Hempel A/S, Carboline Company, Krylon Products Group, Resene Paints, Dulux Paints
Key Acrylic Surface Coating Market Trend
In the acrylic surface coating market, companies are creating sustainable products like acrylic paints made from recycled materials. In April 2024, Decoart launched DecoEARTH, an eco-friendly all-purpose acrylic paint made with 70% recycled materials. This paint offers a premium matte finish and excellent coverage, making it ideal for various surfaces.
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Global Acrylic Surface Coating Market Segmentation
The acrylic surface coating market covered in this report is segmented –
1) By Type: Waterborne Coatings, Solventborne Coatings, Powder Coatings
2) By Substrate: Concrete, Plastic, Metals, Other Substrates
3) By End-User Industry: Building And Construction, Automotive And Transportation, Furniture, Aerospace And Defense, Electrical And Electronics, Marine, Other End-User Industry
By Geography:The regions covered in the acrylic surface coating marker report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Asia-Pacific was the largest region in the acrylic surface coating market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The Acrylic Surface Coating Global Market Report 2024 furnishes information about the global acrylic surface coating 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.
