With Market Size Valued at $41.3 Billion by 2026, it`s a Healthy Outlook for the Global Acrylic Coatings Market

SAN FRANCISCO, Jan. 18, 2022 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Acrylic Coatings - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

FACTS AT A GLANCE
Edition: 4; Released: January 2022
Executive Pool: 1269
Companies: 232 - Players covered include Asian Paints; Axalta Coating Systems; BASF Coatings; DOW Chemicals Company; Dunn Edwards Paints; Jotun Group; Kansai Paint; Nippon Paint; PPG Industries; RPM International Inc; The Sherwin-Williams Company; The Valspar Corporation; and Others.
Coverage: All major geographies and key segments
Segments: Technology (Water-Borne, Solvent-Borne, Powder Coatings, Other Technologies); End-Use (Building & Construction, General Industrial, Automotive, Furniture, Other End-Uses)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.

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ABSTRACT-

Global Acrylic Coatings Market to Reach US$41.3 Billion by the Year 2026
Acrylic resins account for the largest share of the paints and coatings market, owing to their flexibility, adhesion, drying rate, and relatively superior resistance properties, which make them suitable for use in paints and coatings. The rising use of acrylic resins for manufacturing architectural coatings of panels, windows, and exterior and interior walls is significantly driving the demand for these resins. Acrylic acid and its derivatives are widely used in various industrial processing operations. Acrylic acid is primarily used in coatings (industrial coating, decorative paints), plastic additives, paper, superabsorbents, and adhesives, among others. A major driver of growth in this market is the increased demand for superabsorbent polymers (SAP). Other key markets consuming acrylic acid and its derivatives include adhesives, co-monomers, plastic additives, and surface coatings. Acrylic esters are also used in the production of polyacrylic acid, which in turn find use in the SAP market. In coatings and sealant applications, the demand for acrylic esters is increasing driven by the product's ability to replace other high-performance formulations, and the strengthening building and construction activity across emerging economies.

Amid the COVID-19 crisis, the global market for Acrylic Coatings estimated at US$32.9 Billion in the year 2021, is projected to reach a revised size of US$41.3 Billion by 2026, growing at a CAGR of 4.4% over the analysis period. Water-borne, one of the segments analyzed in the report, is projected to grow at a 5.3% CAGR to reach US$15.1 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Solvent-Borne segment is readjusted to a revised 4.6% CAGR for the next 7-year period. This segment currently accounts for a 27.5% share of the global Acrylic Coatings market.

The global acrylic surface coatings market is expected to exhibit a healthy growth due to increasing use of these coatings across a comprehensive array of applications in diverse industries, including construction, automotive and household. Global demand for these coatings is fueled by their desirable properties such as superior color retention and excellent inertness under exposure to the outdoor environment. Acrylic surface coatings represent fast-drying paints featuring suspended pigments in an acrylic polymer emulsion, and are made using acrylic and methacrylic polymer holding enhanced color retention characteristics. While exhibiting solubility in water, acrylic coatings display resistance to water in their dry state. These coatings are available in different forms like solvent-borne, water-borne and powder coatings. Acrylic surface coatings feature a number of desirable properties when used as roof coatings on buildings, like high elastomeric finish and surface hardness. Segregated into thermosetting and thermoplastic options, these coatings are generally applied to concrete, plastics, wood and metal for their color retention, UV resistance and transparency. The combination of affordable production and exterior durability makes them a suitable option for architectural and automobile refinish applications.

In addition, acrylic surface coatings are known for various benefits like faster drying time, eco-friendly nature, convenient application and compatibility with a diverse range of pigments. The global acrylic surface coatings market is gaining from increasing uptake across various industries like construction, automotive, metal fabrication, furniture, plastic and coil production. The market growth is augmented by rising consumption of powder coatings coupled with increasing disposable income, rapid urbanization and various infrastructural development projects across the Middle East, China and India. Rapid urbanization and rising income levels are creating high demand for aesthetically-appealing coatings and decorative paints. Based on their compelling properties, these coatings are emerging as an attractive alternative to traditional options. Moreover, increasing consumption of acrylic surface coatings in major end-use industries like automotive and construction along with bright outlook of the market is prompting leading companies to expand production capacities. These coatings are bound to also gain from their eco-friendly nature and conformance to environmental regulations.

The U.S. Market is Estimated at $7.3 Billion in 2021, While China is Forecast to Reach $11.6 Billion by 2026
The Acrylic Coatings market in the U.S. is estimated at US$7.3 Billion in the year 2021. The country currently accounts for a 22.39% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$11.6 Billion by the year 2026 trailing a CAGR of 6.4% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.6% and 3.4% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.1% CAGR while Rest of European market (as defined in the study) will reach US$12.4 Billion by the close of the analysis period.

The Asia-Pacific region continues to hold the leadership position in the global acrylic surface coatings market, and is predicted to register a healthy growth in the coming years. The regional market is buoyed by increasing consumption of these coatings in several end-use industries like construction, automotive, metal and furniture across major markets including China, India and Japan. Increasing disposable income is anticipated to fuel consumption of aesthetically-appealing coatings and provide a significant impetus to the decorative paints & coatings segment over the coming years. In addition, rising automobile production in China, India, Japan, Indonesia and South Korea is expected to further bolster the market growth. The region is expected to witness the fastest growth over the next few years, owing to the growing application of paints and coatings in the automotive and construction and building industries. The regional demand for paints and coatings is estimated to be propelled by the higher adoption of these products in emerging economies, such as China, South Korea, Japan, Singapore, India, and Malaysia. These countries are gradually emerging as important business hubs, and are attracting significant interest of global investors. This has resulted in the growing demand for shopping malls, hotels, stadiums, arenas, residential buildings, and business parks, which is propelling the demand for paints and coatings in the region.

In China, the rise in population is causing greater demand for residential construction, which is likely to fuel the market growth. The country has been witnessing a significant demand for commercial and low-cost housing in the past few years. The real estate industry in China is experiencing rapid growth supported by rising government investments, which is likely to augment growth in the paints and coatings market in the country. In addition, China's investments in transportation projects, including urban rail, airports, waterways, highways, and railways, have risen considerably in recent years. Moreover, China is one of the leading global producers of furniture. Furniture production in the country is likely to increase rapidly in the coming years, driven by the growing domestic demand and the rising export of furniture to European nations. These factors are anticipated to help bolster the demand for paints and coatings in China.

Powder Coatings Segment to Reach $9 Billion by 2026
In the global Powder Coatings segment, USA, Canada, Japan, China and Europe will drive the 3.6% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$5.7 Billion in the year 2020 will reach a projected size of US$7.3 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$1.1 Billion by the year 2026, while Latin America will expand at a 3.6% CAGR through the analysis period. More

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