Acrylic Coating is a covering applied to the surface of an object. The purpose of application of the coating can be functional, decorative, protectoral or all. The products usually offer a number of beneficial properties such as excellent glossy finish, clarity, greater weather ability and superior hardness. These are the type of protective coatings that show resistance to impact erosion, chemicals, and strong adhesion. The acrylic coating is widely known for there thermoplastic and thermosetting. These can be applied in waterborne, solvent-borne, powder or radiation-curable formulations. The main benefit of such a type of protective coating is that it increases the life span and durability of the material or any object. The product and its application are best suited for diverse industries such as oil and gas, automotive, marine, aerospace, building and construction and energy sectors.
It is expected to boost the demand for Acrylic protective coating market forecast during the estimated period. The acrylic coating is considered for 25% approximate share of the paints and coating market, with its share continuously increasing over the last decade. There is a continuous increase with the flourishing end-use industries with the scope of application in the Protective market. The need for protective coating on tools, equipment, and decorative end parts in the building and construction industry poses a major demand operator in the market. The use of acrylic protective coating increases the number of industrial applications such as protecting machinery and equipment which function in harsh environments. This somehow drives the growth in demand for the product.
The outbreak of covid-19 impacted negatively on the Acrylic protective coating market; the emergency caused due to strict restrictions caused lockdowns and shutdowns, which resulted in breakage in the supply of raw materials used for manufacturing of this coating. The coatings manufacturing centers in the Asia Pacific include India, China, Singapore, Japan, and Thailand. Due to the pandemic, Asia pacific has faced breakage in the availability of these basic materials. Covid-19 has caused a large amount of large-scale development and construction projects to delay or postponed globally. Customer closure, lack of capital expenditure, record low consumer spending are the factors that are negatively impacting the acrylic protective coating market growth. The construction and automotive industries are more affected by this pandemic.
Chief Factors Existing In The Market
Cumulative Evaluation Of The Market
In 2020 the acrylic protective coating market size was USD 12.0 billion globally. The global impact of covid-19 has been unusual and shocking for the acrylic protective coating market as it witnessed a negative demand shock across all the regions that faced the pandemic. Based on the acrylic protective coating market analysis, the market faces a huge decline of 3.4% in 2020 as compared to the average year during 2017-2019. The market is predicted to grow from USD 12.9 billion in 2021 to USD 21.2 billion in 2028 at a CAGR of 7.3% during the estimated period.
The Global acrylic protective coating market is divided on the basis of type, end-use, and region.
The infrastructure & construction industry is expected to expand in developing Asia Pacific nations, such as India and China owing to the increase in government investments in infrastructure development projects. These projects include railroads, bridges, airports, harbors etc. Protective coatings are used for preventing and saving from hampering by corrosion which is influenced by intense weather cycles are in great demand. These coatings make the structures and constructions more durable and maintenance-free. The acrylic protective coating market in the region is expected to be operated by the growth in the demand from the infrastructure & construction industry.
North America is expected to expand rapidly, which is more likely to operate the market. The automotive industry is estimated to expand as the demand for electric vehicles is increasing among consumers. The non-residential construction sector in the U.S. is expected to expand owing to the country's robust economy and positive growth in the commercial real estate sector.
Europe has a strong position in the acrylic protective coating market and is predicted to expand averagely owing to the rising demand from the automotive industry. Corrosion protection, wear protection, increased strength, friction reduction, and scratch resistance are advantages of protective coatings in the automotive industry.
Competitive Intensity Within The Industry
The acrylic protective coating market is highly competitive with various key main players, including
Other players include Asian Paints, Jotun, Kansai Paint, RPM, Brillux, Benjamin Moore, AkzoNobel, Dunn Edwards, and Sacal International. The Dow Chemical Company offered AVANCE Acrylic-Binder Technology, which has a very low-VOC capability and has applications in a wide variety of sectors, including industrial, masonry, metal finishing, maintenance, and protective coatings. This shows the competitive Acrylic Protective Coating Market Outlook.
Recent Market Developments
In 2019 Jotun made a joint venture with COSCO shipping, the shipment leading company of Hong Kong. This journey delivers mutual value to both parties. The company united the innovative, high-performance coatings technology of Jotun with the infrastructure, industry, and expertise, whereas Jotun will enjoy the COSCO valued reputation in the key market, China.
Jotun and Kansai have signed an agreement forming the SeaStar Alliance in 2002, they had already worked together for many years, and the alliance was a development, which happened in the year 2020.
The report contains all the data related to the growth and development of the acrylic protective coating market and how the challenges and opportunities can change the acrylic protective coating market trends.
Key Industrial Segments
By End-use Industry:
|Market Size||USD 34.7 Billion 2030:|
|CAGR||2022–2030: Substantial CAGR|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||By Type, End-Use Industry and Region|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||PPG Industries (U.S.), Arkema SA (France), Wacker Chemie AG (Germany), SIKA AG (Switzerland), RPM International Inc. (U.S.), The Valspar Corporation (U.S.), Axalta Coating Systems (U.S.), HEMPEL A/S (Denmark), B.M. REAL INTERNATIONAL (Romania), and Dunn-Edwards Corporation (U.S.) among others.|
|Key Market Opportunities||Impact abrasion, chemical, and strong adhesion.|
|Key Market Drivers||Protective Market is continuously increasing with the flourishing end use industries.|
Frequently Asked Questions (FAQ) :
Acrylic Protective Coating Market is predicted to grow at Substantial CAGR through forecast period of 2022-2030.
The forecast period for Acrylic Protective Coating Market research report is 2022-2030.
Acrylic Protective Coating Market is dominated by Europe region.
continuously increasing with the flourishing end use industries.
PPG Industries (U.S.), Arkema SA (France), Wacker Chemie AG (Germany), SIKA AG (Switzerland), RPM International Inc. (U.S.), The Valspar Corporation (U.S.), Axalta Coating Systems (U.S.), HEMPEL A/S (Denmark), B.M. REAL INTERNATIONAL (Romania), and Dunn-Edwards Corporation (U.S.) among others.