What Has Been The Evolution of the Plastic Paint Market in Recent Years?
The plastic paint market has seen considerable growth due to a variety of factors.
• The plastic paint market has seen strong growth in recent years. It is expected to increase from $98.14 billion in 2024 to $104.82 billion in 2025, with a compound annual growth rate (CAGR) of 6.8%.
This growth is driven by demand for eco-friendly and low-VOC formulations, the expansion of construction and automotive industries, and innovations in application techniques.
How Will the Plastic Paint Market?
The plastic paint market is expected to maintain its strong growth trajectory in upcoming years.
• The plastic paint market is expected to reach $135.39 billion by 2029, with a CAGR of 6.6%.
The market growth is attributed to demand for sustainable solutions, urbanization, infrastructure development, digitalization, and consumer awareness. Major trends include customization, high-performance coatings, water-based formulations, antimicrobial paint demand, and expanding application areas.
Which Factors Are Boosting Growth In The Plastic Paint Market?
The expansion of the automotive sector is forecasted to accelerate the progression of the plastic paint marketplace. The automobile industry engages in the creation, design, marketing, and sale of all motor vehicles including cars, trucks, motorcycles, among others. The rise of this sector is boosted by several influences such as the rapid progression of technology, including electric cars, self-driving technologies, and connected vehicles, and a heightened demand for efficient and hassle-free transport solutions. Plastic paint is widely used for covering external parts of vehicles, which includes car bodies, bumper sections, trim parts, and other exterior elements. It also facilitates color customization, providing car manufacturers the opportunity to introduce a wide palette of color choices to their clients. For instance, a report by the Society of Motor Manufacturers and Traders (SMMT), a UK-based trade guild, showed that in June 2023, the sale of passenger vehicles in the UK increased by 25.8%, escalating from 140,958 units sold in 2022 to 177,266 units in 2023. Hence, the expanding automotive sector supports the growth prospect of the plastic paint marketplace.
What Key Areas Define The Segmentation Of 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
Subsegments:
1) By Vinyl Paint: Water-Based Vinyl Paint, Solvent-Based Vinyl Paint, High-Temperature Vinyl Paint, Low-Temperature Vinyl Paint
2) By Rubber Paint: Synthetic Rubber Paint, Natural Rubber Paint, Chlorinated Rubber Paint, Thermoplastic Rubber Paint
3) By Acrylic Paint: Water-Based Acrylic Paint, Solvent-Based Acrylic Paint, Uv-Curable Acrylic Paint, Latex Acrylic Paint
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What Trends Are Reshaping The Future Of The Plastic Paint Market?
Big players in the plastic paint industry are prioritizing the development of novel solutions like acrylic emulsion to meet diverse customer requirements and tastes. Acrylic emulsion serves as a water-based binding agent in paints and coatings, offering durability, versatility, and eco-friendliness across several applications. For example, Trinseo, an American paint firm, launched LIGOS C 9031 in June 2024. This robust styrene acrylic emulsion is specifically engineered for high-end interior wall paint uses. This dual-purpose solution offers remarkable washability and scrub resistance, making it perfect for areas with high humidity. It outperforms the ASTM D 2486 wet scrub performance standards and permits effortless touch-ups without hampering the final look. The product comes with in-built viscosity control, allowing manufacturers to alter viscosity levels and optimize thickener usage for various application techniques, such as spray, roll, and brush. Additionally, LIGOS C 9031 is incorporated within Trinseo’s CO2NET product range, intending to cut carbon emissions by a minimum of 50%. It also conforms to the Nordic Swam Eco-Label, EC1+, and Blue Angel certifications whilst ensuring low volatile organic compound concentrations.
Who Are the Key Players In The Plastic Paint Market?
Major companies operating in the plastic paint market are:
• The Sherwin Williams Company
• PPG Industries Inc.
• AkzoNobel NV
• Eastman Chemical Company
• Wacker Chemie AG
• RPM International Inc.
• Axalta Coating Systems Ltd.
• Valspar Corporation
• Asian Paints Limited
• Kansai Paint Co. Ltd.
• Jotun group
• Hempel AS
• Nippon Paint Holdings Co. Ltd.
• Berger Paints India Limited
• DAW SE
• Teknos Group Oy
• Chugoku Marine Paints Ltd.
• Krylon Inc.
• Diamond Vogel Paints
• Autoglym Limited
• Tamiya Corporation
• Dutch Boy Group
What Is The Most Dominant Region In The Plastic Paint Market?
Asia-Pacific was the largest region in the plastic paint market in 2024. 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.
