Global Acrylic Paints Market Is Estimated To Witness High Growth Owing To Growing Popularity of Artistic Expression

Acrylic Paints Market I

The global Acrylic Paints market is estimated to be valued at USD 4 billion in 2018 and is expected to exhibit a CAGR of 3% over the forecast period of 2019-2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Acrylic paints are water-based paints that are made from acrylic resin and have high pigment content. They are widely used by artists, hobbyists, and professionals for various art projects due to their versatility and durability. Acrylic paints can be used on various surfaces such as canvas, paper, wood, and metal. They offer several advantages such as quick drying time, ease of use, and the ability to create different textures and effects. With the growing popularity of artistic expression and an increasing number of art-related events and exhibitions, the demand for acrylic paints is expected to witness significant growth.

Market Key Trends:

One of the key trends in the global acrylic paints market is the increasing demand for eco-friendly and non-toxic paints. With growing environmental concerns and regulations regarding the use of hazardous substances in consumer products, there is a rising preference for paints that are safe for human health and the environment. This trend has led to the development of acrylic paints that are free from harmful chemicals such as volatile organic compounds (VOCs) and heavy metals. For example, several manufacturers are now offering water-based acrylic paints that have low odor and are safe for use in indoor spaces.

PEST Analysis:

Political: The political landscape plays a crucial role in the manufacturing and distribution of acrylic paints. Government regulations regarding the use of certain chemicals and the disposal of paint waste can impact the market.

Economic: The economic conditions of a country or region can affect consumer spending on art supplies, including acrylic paints. Economic downturns may lead to a decrease in demand, while stable economic conditions can drive market growth.

Social: The increasing popularity of art as a form of self-expression and the rise of social media platforms showcasing artwork have contributed to the growth of the acrylic paints market. Additionally, the growing interest in DIY projects and crafts has also boosted the demand for acrylic paints.

Technological: Technological advancements in paint formulations and manufacturing processes have led to the development of high-quality acrylic paints with improved performance characteristics. Innovations in pigments and additives have also expanded the color range and texture options available to artists.

Key Takeaways:

1: The global acrylic paints market is expected to witness high growth, exhibiting a CAGR of 3% over the forecast period, primarily due to the increasing popularity of artistic expression. Artists, hobbyists, and professionals are increasingly using acrylic paints for their projects, driving market demand.

2: The Asia Pacific region is expected to be the fastest-growing and dominating region in the global acrylic paints market. The region has a rich cultural heritage with a long tradition of art and craftsmanship, leading to a high demand for acrylic paints.

3: Key players operating in the global acrylic paints market include PPG Industries, AkzoNobel N.V, BASF, The Dow Chemical, Asian Paints, Sherwin-Williams, National Coatings, Truco, Inc, Gellner Industrial, LLC, Neogard (Hempel), NIPPON PAINTS, and Walter Wurdack, Inc.

In conclusion, the global acrylic paints market is poised for significant growth due to the increasing popularity of artistic expression and the growing demand for eco-friendly and non-toxic paint options. The Asia Pacific region is expected to lead the market growth, with key players playing a crucial role in meeting the rising demand for high-quality acrylic paints.