During the projected period from 2022 to 2032, the worldwide acrylic paints market is anticipated to grow at a robust CAGR of about 4.5%. The development of high-performance acrylic paint bonding allowing manufacturers to emerge as industry leaders is credited with the expansion of the acrylic paints market globally.
Furthermore, advances in technology-driven end-use applications of acrylic paints are some of the crucial factors responsible for market expansion. In addition to that, the surging expansion of infrastructure also plays a pivotal role in fueling the growth of the acrylic paints market as factors such as water resistance and superior finish boost its popularity.
Acrylic paint set out to be one of the crucial mediums for elementary use which is gained a diverse range of applications & preferences in recent times with diversified products. Acrylic paint is known to be treated as a type of medium that is suitable for kindergarten classrooms only over the past few decades.
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Although with the advancements in pigmentation, consistency, and finishes, many artists including David Hockey, Helen Frankenthaler, and Mark Rothko among others, are preferring acrylic paints as an ideal choice for acrylic art. This changing preference has been expected to bolster the prominence of acrylic paints among artists over the years.
In addition, the excellent properties of acrylic paint are broadening their adoption among artists, globally. Acrylic paints are considered low-maintenance mediums that do not require any sort of custom supplies such as conventional oil paints. Moreover, they offer the benefits of enhanced consistency and texture.
The versatile nature of acrylic paints is making them an ideal medium that allows artists to do acrylic painting on canvas. Artists are known as the key consumers of acrylic paints. Companies focused on stationery products are increasing their investments in acrylic paint, further creating lucrative prospects for manufacturers. Hence, the increasing adoption of acrylic paint as a professional medium of painting will continue to drive market growth in the coming years.
Key Takeaways
- The high reliance of artists on acrylic paints in order to get consistency and finish in their portraits is considered one of the primal revenue channels for the market. In addition to that, significant players are leveraging market intelligence such as consumer trends and region-wise analysis to devise research and development efforts.
- Originating from the popularity of water-based acrylic binders in house paints and artisanal professionals, the global acrylic paint market will continue to make material progress over the decade ahead. Known for their durability, flexibility, and affordability, the acrylic paints market has established itself as a sizeable market over the years.
- Some of the key factors fueling the global acrylic paints market growth comprise tech-driven advancements in acrylic paints. Furthermore, an increasing number of compatible media is expanding the application scope of acrylic paints.
- The surge in infrastructure development is considered one of the major factors for the growth of the acrylic paints market. Factors such as water resistance, superior finish, and consistent drying time are propelling their adoption in construction projects.
- Consumer demand for high-performance exterior paint, sun reflective and water resistant come with improved finished quality is making acrylic paints the preferred choice for exterior surfaces.
- Acrylic paints cannot get deteriorated under excessive sunlight and offer enhanced adhesion and thermoplastic properties. Hence, real estate companies are selecting acrylic paints to differentiate themselves in the competitive real estate market. As a result, construction contractors will continue to buy more acrylic paint products thereby expanding the acrylic paints market.
Competitive Landscape
Dominant players in the acrylic paints market are concentrating on enhancing their product portfolios for manufacturing the best acrylic paint and complementing features such as colors, finish, adhesion, consistency, and resistance to water and sunlight.
Key players are leveraging industrial automation to expand their production capacity and global footprint. Since residential infrastructure is a high-growth area in developing countries, market players are capitalizing on research efforts toward evolving consumer trends in color preference and desired finishes.
Key Players
- Azkonobe
- Asian Paints India
- BASF SE
- Berger Paints India
- Berkshire Hathaway
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By Type:
- Heavy Body Acrylics
- Fluid Acrylics
- Interactive
- Open Acrylics
By Application:
- Fabrics
- Wood
- Metal
- Ceramics
- Walls
- Paintings
By End Use:
- Building and Construction
- Textile
- Home Furnishing
- Educational Institutions
By Region:
- North America
- Latin America
- Asia Pacific
- MEA
- Europe
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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