ACRYLIC COATINGS MARKET ANALYSIS

Acrylic Coatings MarketSize and Trends

The global acrylic coatings market size is expected to witness potential gains in the future, and register a CAGR of 6.1% over the forecast period (2019 - 2027).

Market Overview

Acrylic coatings possess excellent durability, are highly resistant to water and UV rays, stable under extremely cold temperature, easy to apply, and cost effective compared to other materials. The key feature of acrylic polymers is that they can be developed to be both tough and flexible at the same time. Acrylic materials have a wide range of applications, but are most commonly designed for the purpose of roof coatings (as replacement for house paint), and other roof applications. Elastomeric finish and high surface hardness makes them ideal for application in the building sector. Among other advantages, acrylic coatings have low odor, quicker drying time, eco-friendly, water resistance, and they are also resistant to corrosion. The low odor means acrylic coatings are a preferred choice for external as well as internal use.

Market Dynamics

Acrylic coatings can be applied over a wide range of surfaces such as wood, steel, aluminum, primers rich in zinc, concrete, piping, and others. As a result, acrylic coatings are expected to witness a high demand from coating and paint industries. Furthermore, there is a significant demand for decorative paints for application in exterior and interior walls which is driving the growth of the market. Increasing disposable income in emerging economies combined with rapid urbanization has led to a demand for aesthetically pleasing infrastructure and decorative coatings. Key players across the globe are also focusing on investments in untapped regions which is expected to benefit the overall market growth over the forecast period. Moreover, increasing number of environmentally friendly regulations by government agencies have led to industries opting for coatings containing low intensity volatile organic compounds, as a result of rising health concerns among the global population such as cancer risk and respiratory illnesses. Environmental policies have driven manufacturers to produce ecofriendly products that will not have a harsh impact on the environment and public health. Such regulations are facilitating the growth of the global acrylic coatings market.