Acrylic coatings are primarily functional, and can also have a decorative effect depending on the type of coating chosen. Its various beneficial properties ensure consistent demand. Market Research Future has performed an in-depth analysis of the global acrylic protective coatings market for the forecast period from 2018 to 2023. Based on several educated observations, MRFR has predicted growth of the market at an optimistic CAGR which is likely to result in a market value of approximately USD23 Bn by the end of 2023. Acrylic protective coatings offer various advantages such as gloss, superior finish, hardness, and ability to withstand different types of weather. Moreover, this type of coating has been known to offer resistance to impact abrasion among others.
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Acrylic protective coatings have a widening scope of applications, particularly in end-use industries such as automotive, building & construction, and several others. Acrylic coatings are also highly useful in industrial applications due to their role in protecting machinery and ensuring a long life of the equipment. Increasing demand witnessed by the automotive and construction sectors is likely to increase the demand for acrylic protective coatings, while, the industrial sector is also expected to witness expansion and with it the demand for acrylic coatings. Increasing industrializations in emerging economies of the globe are expected to increase demand for acrylic coatings. On-going innovations in the acrylic coatings are expected to impact the market. Market players are consistently releasing new products with varying properties which are compliant with increasingly stringent environmental regulations.
The Global Acrylic Protective Coatings Market has been segmented into its various parts in MRFR’s detailed report. Segmental analysis of the market has been done on the basis of type, end-use, and region. Types of acrylic protective coatings are broadly segmented into thermoplastic waterborne acrylic latex, thermosetting acrylic coating, and waterborne thermosetting enamels. End-use industries where acrylic protective coatings find applications and opportunities include industrial, automotive, building && construction, aerospace, marine, and others.
Geographical analysis by region has been performed in the report and divides the market into key regions which include North America, Europe, Latin America, Asia Pacific, and the Middle East & Africa.
- Axalta Coating Systems
- The Valspar Corporation
- Dunn-Edwards Corporation
- Wacker Chemie AG
- RPM International Inc.
- B.M. REAL INTERNATIONAL
- HEMPEL A/S
- Arkema SA
- SIKA AG
- PPG Industries
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The Asia Pacific (APAC) market has the largest share of the global market due to the establishment of the region as an industrial hub combined with increasing investments from the government toward infrastructure and attracting foreign investments. The marine industry in the region is also growing rapidly. India, China, and Japan are the leading country-level markets in the APAC region. The region has rapidly growing automotive and construction industries due to the rapid urbanization and increases purchasing power among consumers.
North America follows APAC in terms of market size, with the U.S being the most significant country-level market. The region has a significant automotive sector and well as significant investments in aerospace and maintenance of existing infrastructure which accounts for the high demand for acrylic coatings in the North American acrylic protective coatings market. Europe is another key region in the global acrylic protective coatings market. Country level-markets of note include France, U.K, Germany, Italy, and Belgium.
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Latin America is expected to witness promising growth due to slowly pacifying socio-economic and political conditions. End-use industries in this region are growing rapidly. Mexico and Brazil are slowly establishing themselves as industrial hubs, making them viable markets for acrylic protective coatings.
Latest Industry News
The Lubrizol Corporation has recently launched its Carboset CR 3100 acrylic copolymer emulsion. the new waterborne emulsion is expected to be an ideal direct to metal coating with low VOC.
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