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Global Acrylic Surface Coatings Market Insight2021-12-30 Comments
The acrylic surface coating is forecast to continue rising quickly over the next four years. According to the World Knowledge Information (WKI) “Global Acrylic Surface Coatings Professional Survey Report 2020, Forecast to 2025”, The increasing demand for various applications such as automobile, household, construction and industry is the main factor driving the growth of acrylic surface coating market.The compound annual growth rate (CAGR) for the 2021-2026 period is projected to be 5.09% base on WKI regression analysis model.
“Some governments have issued relevant environmental regulations. It is difficult for the acrylic surface coating industry market to be unaffected. It is suggested that industry participants seek technological breakthroughs to synthesize more environmentally friendly and safer products and seize the market.”said Selena, Senior analyst, Chemicals Goods Market Research Center in WKI. “However, from the current industry situation, the acrylic surface coating market is partially dispersed and the industry concentration is low. Enterprises in the investment wait-and-see period can seize the opportunity.”
Due to its inertia and excellent color retention in outdoor conditions, the demand is increasing, which is expected to drive market growth. In addition, the increase of disposable income and urbanization may lead to an increase in the demand for beautiful coats, which will promote the demand for decorative coatings in the forecast period. The growing demand for coatings in construction, furniture, metal manufacturing, coils and plastics will create great potential for market expansion. Increasing the use of powder coatings in consumer goods, automobiles, buildings and furniture will also promote the growth of acrylic surface coatings industry.
However, there are still some problems that require more attention from participants in the acrylic surface coating industry. For example, strict environmental regulations put pressure on manufacturers to produce environmentally friendly coatings, which will limit the development of acrylic surface coating market.
Some of the key companies operating in the acrylic surface coating market include BASF SE, The Dow Chemical Company, Axalta Coating Systems, NIPSEA Group, PPG Industries, Inc., The Valspar Corporation, The Sherwin-Williams Company, Asian Paints and others.
Segmentation of Acrylic Surface Coatings Market:
According to the technical type, the market of acrylic surface coatings is divided into solvent, water-based, powder, radiation curing coatings and others. Among them, waterborne coatings occupy the largest market share because of their advantages such as environmental friendliness. The increasing demand for water-based thermosetting enamel for automobiles, containers, aluminum and steel coils, machinery and equipment is expected to promote the expansion of the industry. According to the application classification, the acrylic surface coating market is divided into construction, automobile, aerospace and others. It is widely used in building construction because of its excellent outdoor durability and low production cost. Urbanization and the development of infrastructure have led to the rapid growth of the construction industry and increased the demand for acrylic surface coatings, thus promoting the expansion of the market scale of acrylic surface coatings.
Acrylic Surface Coatings Market: Regional Analysis
In terms of geography, the global acrylic surface coatings market has been segmented into: North America, Asia Pacific, Europe, South America, and the Middle East and Africa.The Asia Pacific region currently dominates the acrylic surface coating market and continues to maintain its leading position in the forecast period. The market is expected to grow due to the increase of various end-use industries such as automobile, construction, furniture and metal industries in China, Japan and India. In addition, the Chinese government has launched a large-scale construction plan, creating a major space for the development of acrylic surface coating market in the next few years.
Largest share area：Asia Pacific
Largest share country：China