Global Acrylic Surface Coatings Market - 2020-2027
|丙烯表面塗料的全球市場:2020年-2027年 Global Acrylic Surface Coatings Market - 2020-2027|
|出版日期: 2020年08月31日||內容資訊: 英文|
Acrylic surface coatings are made up of acrylic or methacrylic polymers that have strong color retention properties and strength against damage caused by environmental factors. They act by completely or partially covering the substrate
The acrylic coatings share has increased constantly over the last decade and accounted for nearly 25% of the global paints and coatings market in 2019. The global acrylic surface coatings market was valued at $ XX million in 2019 and is expected to reach $ XX million by 2027, growing at a CAGR of XX%.
New developments in the applications of acrylic surface coatings is propelling the market growth. Acrylic surface coatings can be used efficiently in industrial insulation applications. Transfer of thermal energy leads to various issues such as increased energy use, heat loss in processing equipment, and higher incidence of worker injuries through contact with hot substrates. Traditional insulation methods include fiberglass and polyurethane foam, which consist of thick layers of insulation. These methods come with high maintenance and a variety of issues related to corrosion and damages in the production facility.
In addition, increasing consumption of waterborne acrylic surface coatings in waterproofing applications will drive the market further in the forecast period. Waterborne acrylic coatings are the most popular coatings in the weatherproofing of roofs. They have been dominating the paints and coatings market in the last two decades and their market share is increasing, driven by trends and preferences in end-use industries.
On the other hand, growing raw material prices and stringent regulations on the usage of paints and coatings are hindering the market growth. The major share of acrylic monomers going into the production of PMMA, which is used in applications ranging from the manufacture of aquariums to cell phones and LCD displays. This results in shortage of supply for paint manufactures and eventually leads to increases in the prices of coatings.
The global acrylic surface coatings market is classified based on Substrate, Technology, Enduser and region. The market is further segmented based on technology into waterborne coatings, solventborne coatings, powder coatings, and others.
Waterborne coatings holds the largest share in 2019 with nearly 53% of the total acrylic surface coatings market owing to several advantages over other type of coatings. This segment was followed by the solventborne coatings segment with a share of XX% and the powder coatings segment with XX%. The consumption of waterborne coatings is approximately 25% of the total paints and coatings market, which includes other types of coatings such as epoxy, alkyd, polyurethane, and others. The waterborne coatings market grew at a high rate over the past few year; this trend is expected to continue further over the forecast period. One major reason behind the growth is the shift from solventborne coatings to waterborne coatings over the past few years as a result of the implementation of VOC regulations in various countries in response to rising concerns over environmental and health-related issues.
The global acrylic surface coatings market is conquered by Asia-Pacific region in 2019 with approximately 45% of the total market followed by North America and Europe with XX% and XX% respectively. The paints and coatings market in the North America and Europe are in a matured stage in terms of both production and usage. Thus, emerging economies such as India, China, and Middle East countries are showing noteworthy growth rates as compared to North America & Europe.
Asia-Pacific has about 62% of the world's population, which is expected to rise further over the forecast period. This population growth corresponds to a commensurate demand for various facilities such as housing and supporting infrastructure. It also warrants an upgrade in the manufacturing industry's capabilities. The region is a hub for investments on account of the significant growth rates displayed by various end-use industries.
The global acrylic surface coatings market is led by players such as Axalta, BASF, DOW Chemicals, Nippon Paints, PPG, and Sherwin-Williams. These players, along with their subsidiaries, constitute around 47% of the market in terms of value. The rest of the share is contributed by medium to small scale localized paint manufacturers who either cater to dedicated customer segments or rely on cheaper formulations to cater to the low-end market requirements
"List not exhaustive"