Everyone has painted in his childhood. From painting on paper to painting our dreams, we all grew up. The properties and applications of painting changed over time, didn’t they?
From the industrial perspective, different paints have varying importance, and so does acrylic paint. This market will be analyzed in the report.
The prospects of the acrylic paint market growth are governed by a sluggish CAGR of 4.2%, which will likely elevate the acrylic paint market size to USD 209.4 million by 2034 from USD 138.8 million in 2024.
| Attributes | Key Insights |
|---|---|
| Estimated Market Size in 2024 | USD 138.8 million |
| Projected Market Value in 2034 | USD 209.4 million |
| Value-based CAGR from 2024 to 2034 | 4.2% |
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The historical data suggests that the acrylic paint market size changed from USD 120.1 million to USD 134.8 million from 2019 to 2023. This market progress was capped at an extremely sluggish CAGR of 2.3%.
The trending product innovation by leading acrylic paint manufacturers spurred the demand for paints. Due to the growing technological infrastructure, this was accompanied by advanced manufacturing setups.
However, the acrylic paint market growth could not break free due to COVID-19. Due to heavy restrictions, several industries were shut down, affecting the market.
| Historical CAGR from 2019 to 2023 | 2.3% |
|---|---|
| Forecast CAGR from 2024 to 2034 | 4.2% |
The growing construction and building industry demands acrylic paints from top acrylic paint brands. Due to this, the acrylic paint market size has increased, and it is projected to enhance.
Proliferated e-commerce platforms spike the ease of distribution, assisting the acrylic paint market growth. Therefore, it is another critical demand generator.
North America will provide a wider acrylic paint market competitive landscape, as numerous competitors are actively competing in the country. Also, economic developments in the country leverage their growth in the market, fueling the acrylic paint market growth.
The growing urbanization and population in Asia-Pacific will elevate the acrylic paint market size. Moreover, governmental initiatives and policies will spur the demand trends for acrylic paints.
Sustainability guidelines and circular economy trends will encourage leading acrylic paint manufacturers to produce eco-friendly goods in Europe. Hence, this will transform the acrylic paint market’s competitive landscape in the region.
Forecast CAGRs from 2024 to 2034
| Countries | Forecasted CAGR |
|---|---|
| Japan | 1.8% |
| The United States of America | 2.3% |
| Spain | 3.1% |
| China | 4.7% |
| India | 6.2% |
The Japanese acrylic paint market growth will be accelerated at a CAGR of 1.8% through 2034. The Japanese population seeks eco-friendly goods due to the rising awareness of environmental safety.
This augments the acrylic paint market size in the country, driving its growth rate. Also, non-toxic and non-volatile paints are preferred, spurring the demand for this segment in the acrylic paint market.
The United States will experience an elevated acrylic paint market size through 2034 at a CAGR of 2.3%. The growing consumer trends toward pursuing hobbies and following passion are driving the acrylic paint market growth.
The widespread awareness about personal care and growing emphasis on self-care spurs the recreational industry. These factors drive the demand for activities like painting, creating the need for acrylic paints.
The Spanish acrylic paint market size will be agitated steadily at a CAGR of 3.1% through 2034.
The Spanish educational system has included different art forms in its curriculum to ensure the wholesome growth of students. As a result, frequent requirements for colors spur the acrylic paint market growth in Spain.
The growing urbanization rate in China is attributed to the increasing population in the country. This drives the construction and building industry. Consequently, this generates demand for acrylic paints.
Commercial and non-commercial sectors are booming, requiring painting and redevelopment assignments. Thus, the Chinese acrylic paint market growth will propagate moderately at a CAGR of 4.7% through the forecasted period.
The growing concern about sustainability and the budding culture of DIY and upcycling projects spurs the demand for acrylic colors. Consumers redesign their homes with rising demand for acrylic colors.
Painting houses, refurbishing furniture, and renovating home décor are another few key drivers for the acrylic paint market growth. As a result, the Indian acrylic paint market size will increase moderately at a CAGR of 6.2%, the highest among all the countries.
Due to the growing impasto techniques, the demand for heavy-body acrylics will likely increase. Also, they will add significantly to the market growth. The construction and building industry is an important market segment, and it holds the maximum market share due to the substantial growth in the sector.
| Category | Product Type- Heavy-body Acrylics |
|---|---|
| Market Share in 2024 | 54.2% |
| Market Segment Drivers |
|
| Category | Industry Vertical- Building & Construction |
|---|---|
| Market Share in 2024 | 47.4% |
| Market Segment Drivers |
|
The global acrylic paint market is experiencing a great push due to the excessive competition in the industry. Leading acrylic paint manufacturers clutter the competitive landscape.
They employ various key expansion strategies, gaining a competitive edge. Partnerships, collaborations, product innovation, acquisitions and mergers, and international expansion are key moves benefitting them.
New entrants can negotiate a better marketplace through strategic offering of key assets against a respectable market position. Also, strategic alliances might help them gain a better marketplace. Leading acrylic paint manufacturers and new entrants fuel the acrylic paint market growth.
Key Market Developments
| Attributes | Details |
|---|---|
| Estimated Market Size in 2024 | USD 138.8 million |
| Projected Market Valuation in 2034 | USD 209.4 million |
| Value-based CAGR 2024 to 2034 | 4.2% |
| Forecast Period | 2024 to 2034 |
| Historical Data Available for | 2019 to 2023 |
| Market Analysis | Value in USD million |
| Key Regions Covered | North America; Latin America; Western Europe; Eastern Europe; South Asia and Pacific; East Asia; The Middle East and Africa |
| Key Market Segments Covered | By Product Type, By Application, By Industry Vertical, By Region |
| Key Countries Profiled | The United States, Canada, Brazil, Mexico, Germany, The United Kingdom, France, Spain, Italy, Poland, Russia, Czech Republic, Romania, India, Bangladesh, Australia, New Zealand, China, Japan, South Korea, GCC Countries, South Africa, Israel |
| Key Companies Profiled | Azkonobe; Asian Paints India; Basf SE; Berger Paints India; Berkshire Hathaway; Ppg Industries; The Dow Chemical; Sherwin-Williams; National Coatings; Gellner Industrial |
The acrylic paint market is estimated to progress at a CAGR of 4.2% through 2034.
The acrylic paint market will likely reach US$ 209.4 million by 2034.
The acrylic paint market will attain a market size of US$ 138.8 million in 2024.
The acrylic paint market's heavy body acrylics segment will hold 54.2% of the market share in 2024.
The acrylic paint market's building & construction segment will likely secure 47.4% of the market space in 2024.
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