Global Plastic Paint Market Size Forecast 2024 - 2033
18 Dec, 2024
What Is The Scope Of The Global Plastic Paint Market?
Plastic paint refers to a type of paint that uses acrylic polymers as a binder, making it water-based and quick-drying. This type of paint is durable, moisture-resistant, and provides a smooth finish. It is commonly used for painting walls, furniture, and other surfaces both indoors and outdoors.
Plastic Paint Global Market Report 2024 provides data on the global plastic paint market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The plastic paint market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
What Projections Can We Expect For The Size And Growth Rates Of The Global Plastic Paint Market?
The plastic paint market has shown robust growth, expanding from $92.15 billion in 2023 to $98.14 billion in 2024, achieving a CAGR of 6.5%. The growth during this period can be attributed to rising demand for eco-friendly and low-VOC paint formulations, advancements in construction and automotive sectors, innovative application methods, increased research and development investments, and digital technology integration. The market is forecasted to grow to $127.12 billion by 2028, with a CAGR of 6.7%. Factors contributing to future growth include demand for sustainable solutions, rapid urbanization and infrastructure development, adoption of digitalization and automation, heightened consumer awareness, and expanded distribution networks. Trends influencing the market include customization and innovation, new application areas, high-performance coatings, water-based formulations, and growing interest in antimicrobial paints.
What Are The Core Factors Supporting Growth In The Plastic Paint Market?
The expanding automotive industry is poised to bolster the growth of the plastic paint market. This industry, encompassing the design, production, and sale of motor vehicles, is advancing due to rapid technological developments, including electric vehicles, autonomous driving, and connected car technologies, as well as increasing demand for efficient transportation. Plastic paint is widely used for coating vehicle exteriors, such as bumpers and trims, and allows automakers to offer diverse color options. For instance, the Society of Motor Manufacturers and Traders reported in June 2023 that UK passenger car sales rose 25.8%, from 140,958 units in 2022 to 177,266 units in 2023. The growing automotive industry is thus driving demand for plastic paint.
Get Your Free Sample of the Global Plastic Paint Market ReportWhat Are The Major Segments Within The Global Plastic Paint Market?
The plastic paint market covered in this report is segmented –
1) By Type: Vinyl Paint, Rubber Paint, Acrylic Paint
2) By Process: Dip Coating, Spray Coating, Powder Coating, Electrophoretic Painting, Other Process
3) By Application: Household, Commercial
Which Trends Are Expected To Transform The Plastic Paint Market?
Leading companies in the plastic paint market are focused on creating innovative solutions such as artist’s acrylic paint to meet diverse consumer preferences. Artist’s acrylic paint is fast-drying, water-soluble, and made with pigments suspended in an acrylic polymer emulsion. For example, in October 2021, Berger Paints Bangladesh Ltd. introduced Berger Artista, an artist’s acrylic paint made in Bangladesh. The series includes seven primary shades at cost-effective prices, supporting the creative efforts of artists across the country.
What Is The Fastest Growing Region In The Plastic Paint Market?
Asia-Pacific was the largest region in the plastic paint market in 2023. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the plastic paint market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.