Acrylic Powder Market size to grow by USD 820.67 million from 2022 to 2027|Akzo Nobel NV, Arkema Group, Asian Paints Ltd. and more among the key companies in the market - Technavio
NEW YORK, Nov. 30, 2023 /PRNewswire/ -- The latest report on the acrylic powder market estimates registers an incremental growth of USD 820.67 million from 2022 to 2027. The market is estimated to grow at a CAGR of 5.35% during the forecast period. The market is fragmented due to the presence of diversified international and regional vendors. The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Competitors have to focus on differentiating their product offerings with unique value propositions to strengthen their foothold in the market. Market vendors also have to leverage the existing growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments. Akzo Nobel NV, Arkema Group, Asian Paints Ltd., Axalta Coating Systems LLC., BASF SE, Berger Paints India Ltd., Brillux GmbH and Co. KG, Chemilac Paints Pvt Ltd, DIC Corp., Dow Chemical Co., Makevale Group, Jesons Industries Ltd, Jotun AS, The Karnak Corp., KM Nail Manufacturer, Nippon Paint Holdings Co. Ltd., RPM International Inc., Sika AG, The Sherwin Williams Co., and PPG Industries Inc. are among some of the major market participants. The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. Request sample report
Acrylic Powder Market 2023-2027: Scope
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The soft skills training market report covers the following areas:
- Acrylic Powder Market 2023-2027 Size
- Acrylic Powder Market 2023-2027 Trends
- Acrylic Powder Market 2023-2027 Industry Analysis
Vendor Offerings
- Akzo Nobel NV - The company offers acrylic powder such as beige CAH3T34698, white CAW2C40654, and white CAW3C48014.
- Arkema Group - The company offers acrylic powder for superabsorbents, plastic materials, flocculants, paints, and coatings.
- Asian Paints Ltd. - The company offers acrylic powder such as Asian paints Trucare acrylic putty which provides a very strong, and durable foundation.
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Acrylic Powder Market 2023-2027: Market Dynamics
Market driver
The growing emphasis on aesthetic appeal notably drives the market growth. consumers increasingly focus on the latest fashion products in order to achieve fashionable looks. Artificial nails are false nails that are used as a fashion accessory that is layered over natural nails. These false nails aids in lengthening short nails, giving the appearance of longer, leaner fingers. It is possible to trim, file, and paint artificial nails. As acrylic nails are significantly more attractive than natural nails, they have many advantages, like providing consistency in length and shape. They also offer a wide range of decoration options. Hence, the growing emphasis on aesthetic appeal is one of the major drivers which is expected to drive the growth of the global acrylic powder market during the forecast period.
Major Trends
The growing e-commerce industry and global trade are emerging market trends influencing the growth. The expansion has had a profound impact on businesses and consumers worldwide, as these trends have revolutionized the way goods and services are bought and sold. They also helped in opening up new opportunities for growth, convenience, and market access. Consumers prefer the convenience offered by e-commerce, where they are able to browse and buy products from all over the world in a couple of clicks.
Nail salon and spa products also experience the convenience factor through global trade. It is leading to the growing use of Internet shopping as an attractive option for consumers. Furthermore, advancements in logistics and shipping have made it easier and more cost-effective for businesses to transport products worldwide, which facilitates global trade and expanding market reach. Hence, factors like the growing e-commerce industry and global trade are the growing trends that are expected to drive the growth of the global acrylic powder market during the forecast period.
Key Challenges
The several health and safety concerns associated with the use of acrylic powder challenge the growth of the acrylic powder market. The potential for allergic reactions as well as the risk of chemical sensitization are the major concerns. Chemical sensitization may develop in people who become more and more sensitive or immunocompromised to these substances due to long or repeated exposure to acrylic powders and related chemicals. Proper ventilation systems in nail salons and the use of personal protective equipment, such as masks, are crucial in minimizing inhalation exposure.
However, there can be nail damage as a result of incorrect application or removal techniques. Also, in order to reduce the risk of nail damage, nail technicians must perform appropriate techniques and individuals should consult with professional help for application or removal of acrylic powder. Hence, such factors challenge the growth of the acrylic powder market during the forecast period.
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Acrylic Powder Market 2023-2027: Segmentation
Acrylic Powder Market is segmented as below:
- End-user
- Cosmetics
- Inks
- Automotive
- Plastics
- Others
- Application
- Fingernail
- Plastisol Production
- Textile Printing Inks
- Others
- Geography
- APAC
- North America
- Europe
- South America
- Middle East And Africa
The market share growth by the cosmetics segment will be significant for market growth during the forecast period. Acrylic powder is extensively used in the formulation of various cosmetic products, which contributes to their performance and aesthetic appeal. The production of foundations majorly uses acrylic powders because they enhance the texture and consistency of foundation formulas, ensuring smooth and even application on the skin. Additionally, acrylic powder contributes to the smooth application and blend-ability of these products, as well as ensuring that the color payoff is consistent and buildable. Hence, such factors boost the segment growth, which, in turn, boosts the entire market growth during the forecast period.
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Acrylic Powder Market 2023-2027: Key Highlights
- CAGR of the market during the forecast period 2023-2027
- Detailed information on factors that will assist acrylic powder market growth during the next five years
- Estimation of the acrylic powder market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the acrylic powder market
- Analysis of the market's competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of acrylic powder market, vendors
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Related Reports:
The artificial nails market size is estimated to grow at a CAGR of 6.04% between 2022 and 2027. The market size is forecast to increase by USD 303.92 million.
The global nail care products market size is estimated to grow by USD 6,775.51 million between 2022 and 2027 accelerating at a CAGR of 5.01%.
Table of Contents
- Executive Summary
- Market Landscape
- Market Sizing
- Historic Market Size
- Five Forces Analysis
- Market Segmentation by Application
- Market Segmentation by End-User
- Customer Landscape
- Geographic Landscape
- Drivers, Challenges, and Trends
- Company Landscape
- Company Analysis
- Appendix
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