Stemming 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, acrylic paints have established themselves as a sizeable market over the years.
Tech-driven advancements in end-use applications of acrylic paints are key factors fueling the market growth. Increasing number of compatible media is expanding the application scope of acrylic paints. Acrylic paint can be used on paper, canvas, walls, and many other surfaces. R&D of high-performance acrylic paint bonds is among the key differentiating competitive strategies. Significant players are leveraging market intelligence such as consumer trends and region-wise analysis to devise research and development efforts.
Construction Activities to Paint a Bright Future
Rise in infrastructure development is a major factor of growth for 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 - and improved finish quality is making acrylic paints preferred choice for exterior surfaces.
Acrylic paints do not deteriorate 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.
Acrylic Paints Gaining High Preference among Artistics
Acrylic paint has been treated as a type of medium that is suitable for kindergarten classrooms only over the past few decades. However, with the advancement of pigmentation, consistency, and finishes, many artists - David Hockey, Helen Frankenthaler, Mark Rothko – are preferring acrylic paints as an ideal choice. This changing preference has boosted the prominence of acrylic paints among artists over the years. In addition, excellent properties of acrylic paint are broadening their adoption among artists, globally.
Acrylic paints are low-maintenance mediums that do not require custom supplies such as conventional oil paints. They offer the benefits of enhanced consistency and texture. The versatile nature of acrylic paints are making them an ideal medium that allows artists to paint on different kinds of canvases. Artists are 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, increasing adoption of acrylic paint as a professional medium of painting will continue to drive the market growth in the coming years.
Acrylic Paints Market: Region Wise Analysis
North America has been the most remunerative region for market players, owing to surging adoption of acrylic paints in construction activities. However, with the saturation of opportunities in infrastructure development projects, the North America acrylic paints market is poised to attain a mature market in the near term. As such, market players are turning to untapped regions such as Latin America and Asia Pacific (APAC) or revenue generation.
Increasing foreign direct investments (FDI) and the proliferation of technology in countries such as Mexico, India, Colombia, and Indonesia is creating remunerative opportunities for manufacturers. Supportive government investments and tax policies further the growth of infrastructure development, which in turn is resulting in demand for acrylic paint. Furthermore, APAC is touted to be a hotbed of successful real estate development.
Acrylic Paints Market: Competitive Landscape
Key players in the acrylic paints market are Azkonobe, Asian Paints India, BASF SE, Berger Paints India, Berkshire Hathaway among others. Manufacturers are focusing on enhancing their product portfolios and complementing features such as colours, finish, adhesion, consistency, resistance to water and sunlight. Major players are leveraging industrial automation to expand their production capacity and global footprint. As residential infrastructure is a high growth area in developing countries, market players are capitalizing on research efforts towards evolving consumer trends in colour preference and desired finishes.
Acrylic Paints Market: Regional-wise Analysis
- North America (U.S., Canada)
- Latin America (Mexico, Brazil)
- Western Europe (Germany, U.K., France, Italy, Spain)
- Easter Europe (Poland, Russia)
- Asia Pacific (Indonesia, India, China)
- The Middle East & Africa (GCC Countries, Turkey, North Africa countries, and South Africa)
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