Aerosol Paints Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 1.12 Billion |
| Market Size (2029) | USD 1.44 Billion |
| CAGR (2024 - 2029) | 5.23 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Asia-Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Aerosol Paints Market Analysis
The Aerosol Paints Market size is estimated at USD 1.12 billion in 2024, and is expected to reach USD 1.44 billion by 2029, growing at a CAGR of 5.23% during the forecast period (2024-2029).
The demand for aerosol paints decreased due to COVID-19 owing to the shutdown of manufacturing units, a halt in construction activities, and disruption in the supply chain. Currently, the market has recovered from the pandemic and is growing at a significant rate.
Rising residential and commercial construction activities and increasing usage of aerosol paints in DIY activities are likely to drive the aerosol paints market during the forecast period.
However, stringent VOC regulations are likely to act as restraints for the market.
Nevertheless, emerging technologies for aerosol paints are expected to provide new opportunities for the market.
Asia-Pacific dominates the global market, with robust demand from China, followed by India and Japan.
Aerosol Paints Market Trends
Architectural Industry to Dominate the Market
- The architectural segment dominates the demand in the aerosol paints market. Aerosol paints are used in various architectural finishing applications, including varnishes, primers, interior and exterior paints, and stains. These are also utilized in architectural structure sites, including residential, commercial, or institutional structures.
- Aerosol paints are often employed for touch-up and repair work on architectural surfaces, such as walls, ceilings, and trims. They can help achieve a consistent finish, especially in areas that are challenging to access with traditional painting methods. Additionally, aerosol paints come in various colors and finishes, allowing for customization and creativity in architectural designs.
- Asia-Pacific has been witnessing strong growth in residential construction in countries such as India, China, the Philippines, Vietnam, and Indonesia. Besides, in North America, there has been a high housing and repair construction demand owing to increased immigrants and the trend of nuclear families.
- In Southeast Asia, Indonesia is one of the largest and fastest-growing architectural markets. The Indonesian government started a program to build about one million housing units across the country, for which the government has allocated about USD 1 billion in the budget.
- Additionally, the United States has one of the world’s largest construction industries. According to the United States Census Bureau, in 2023, the construction value in the country reached USD 19,78,700 million, registering an increase of more than 7% compared to 2022. Moreover, in February 2024, privately owned housing units authorized by building permits stood at 1,518,000 units, registering an increase of 2.4% compared to the same period in 2023.
- Germany has the largest construction industry in the European continent. However, the country has been facing a downward trend in the construction industry for the past few months. According to the Federal Office of Statistics in Germany, in 2023, the construction of 260,100 dwellings was permitted in Germany, which was a decrease of 94,100 building permits. Furthermore, building permits for apartments in Germany fell by 27% in 2023, underscoring a downturn in construction and real estate industry demand.
- Hence, the rising architectural construction activities are expected to dominate the market for aerosol paints during the forecast period.
Asia-Pacific to Dominate the Market
- Asia-Pacific is expected to dominate the global market. With growing consumption from industries such as automotive, architecture, wood, and packaging from countries such as China, India, and Japan, the usage of aerosol paints is increasing in the region.
- Aerosol paints are used in the automotive sector to coat the surfaces of vehicles and automotive OEM parts to protect the surface and enhance its aesthetic appearance. The aftermarket demand for aerosol coatings is higher than that for production usage owing to the diverse applications and widespread adoption of aerosol coatings for touch-up, customization, and detailing purposes by consumers and automotive enthusiasts.
- According to OICA, in 2023, the sales of passenger vehicles in China stood at 26 million units, registering an increase of more than 10% as compared to 2022, while those of commercial vehicles stood at 4.03 million units, registering an increase of more than 22% as compared to 2022.
- Furthermore, in 2023, the total sales of vehicles in India stood at 5.07 million units, registering an increase of more than 7.5% compared to 2022. The sales of passenger vehicles in the country stood at 4.1 million units, registering an increase of 8.2% compared to 2022.
- Manufacturers are increasingly using aerosol paints for architectural applications after realizing the cost benefits and aesthetic quality associated with aerosol paints when used on a small scale. Aerosol paints are applied on surfaces to provide a smooth and even finish, enhancing the aesthetics of structures. They are used to create intricate designs, patterns, and artworks on walls and other surfaces.
- The construction sector is a key contributor to China's continued economic development. As per the forecast given by the Ministry of Housing and Urban-Rural Development, China’s construction sector is expected to maintain a 6% share of the country’s GDP going into 2025.
- In addition, the housing and construction industry has also witnessed nominal growth in Japan in the past couple of years. Many luxury apartments and residential complexes are under construction in Japan. For instance, Mitsubishi State is constructing Japan’s tallest building, which comprises 50 luxury apartments, each generating USD 43,000 monthly rent. The project is being built near the Tokyo station and is likely to be completed by 2027.
- Hence, growing sales of automobiles and rising architectural construction in Asia-Pacific are expected to boost the demand for aerosol paints during the forecast period.
Aerosol Paints Industry Overview
The aerosol paints market is fragmented in nature. The major players (not in any particular order) include Sherwin Williams, AkzoNobel NV, Nippon Paint Holdings Co. Ltd, RPM International, and PPG Industries Inc.
Aerosol Paints Market Leaders
Sherwin Williams
AkzoNobel NV
Nippon Paint Holdings Co. Ltd
RPM International
PPG Industries, Inc.
*Disclaimer: Major Players sorted in no particular order
Aerosol Paints Market News
- February 2024: Nippon Paint India (a subsidiary of Nippon Paint Holdings Co. Ltd) signed a long-term partnership with Snapdeal, an e-commerce portal. Under the agreement, Nippon Paint India’s complete range of aerosol spray paint, comprising the Pylac 1000 Rainbow series, will be available on Snapdeal at a special price for immediate purchase.
- June 2023: PPG announced six new contemporary colors and a fresh product label for the Glidden Max Flex aerosol spray paint and primer by the PPG lineup
Aerosol Paints Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Drivers
4.1.1 Rising Residential and Commercial Construction Activities
4.1.2 Increasing Usage of Aerosol Paints in DIY Activities
4.2 Restraints
4.2.1 Stringent VOC Regulations to Hinder the Growth
4.3 Industry Value Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
5. MARKET SEGMENTATION (Market Size in Value)
5.1 Resin
5.1.1 Acrylic
5.1.2 Epoxy
5.1.3 Polyurethane
5.1.4 Alkyd
5.1.5 Other Resins (Polyester, Silicone, and Vinyl)
5.2 Technology
5.2.1 Solvent-borne
5.2.2 Water-borne
5.3 End-User Industry
5.3.1 Automotive
5.3.2 Architectural
5.3.3 Wood and Packaging
5.3.4 Transportation
5.3.5 Other End-user Industries (Wall Graffiti, Metals, Plastics, Refrigerators, Bicycles, etc.)
5.4 Geography
5.4.1 Asia-Pacific
5.4.1.1 China
5.4.1.2 India
5.4.1.3 Japan
5.4.1.4 South Korea
5.4.1.5 Rest of Asia-Pacific
5.4.2 North America
5.4.2.1 United States
5.4.2.2 Canada
5.4.2.3 Mexico
5.4.3 Europe
5.4.3.1 Germany
5.4.3.2 United Kingdom
5.4.3.3 Italy
5.4.3.4 France
5.4.3.5 Rest of Europe
5.4.4 South America
5.4.4.1 Brazil
5.4.4.2 Argentina
5.4.4.3 Rest of South America
5.4.5 Middle East and Africa
5.4.5.1 Saudi Arabia
5.4.5.2 South Africa
5.4.5.3 Rest of Middle East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 Aeroaids Corporation
6.4.2 Akzo Nobel NV
6.4.3 BASF SE
6.4.4 Kobra Paint
6.4.5 Masco Corporation
6.4.6 Nippon Paint Holdings Co. Ltd
6.4.7 PPG Industries Inc.
6.4.8 RPM International Inc.
6.4.9 Rusta LLC
6.4.10 The Sherwin-Williams Company
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Emerging Technologies to Create Growth Opportunities
Aerosol Paints Industry Segmentation
Aerosol paints are the type of paints that are packaged in a pressurized container and sprayed through a nozzle. They are commonly used for various applications, such as graffiti art, automotive touch-ups, DIY projects, building and construction, and more. The pressurized container releases the paint in a fine mist, creating a smooth and even coat on the surface.
The aerosol paints market is segmented by resin, technology, end-user industry, and geography. By resin, the market is segmented into acrylic, epoxy, polyurethane, alkyd, and other resins (polyester, silicone, and vinyl). By technology, the market is segmented into solvent-borne and water-borne. By end-user industry, the market is segmented into automotive, architectural, wood and packaging, transportation, and other end-user industries (wall graffiti, metals, plastics, refrigerators, bicycles, etc.). The report also covers the market size and forecasts for the aerosol paints market in 15 countries across major regions. For each segment, the market sizing and forecasts are done based on value (USD).
| Resin | |
| Acrylic | |
| Epoxy | |
| Polyurethane | |
| Alkyd | |
| Other Resins (Polyester, Silicone, and Vinyl) |
| Technology | |
| Solvent-borne | |
| Water-borne |
| End-User Industry | |
| Automotive | |
| Architectural | |
| Wood and Packaging | |
| Transportation | |
| Other End-user Industries (Wall Graffiti, Metals, Plastics, Refrigerators, Bicycles, etc.) |
| Geography | |||||||
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Aerosol Paints Market Research FAQs
How big is the Aerosol Paints Market?
The Aerosol Paints Market size is expected to reach USD 1.12 billion in 2024 and grow at a CAGR of 5.23% to reach USD 1.44 billion by 2029.
What is the current Aerosol Paints Market size?
In 2024, the Aerosol Paints Market size is expected to reach USD 1.12 billion.
Who are the key players in Aerosol Paints Market?
Sherwin Williams, AkzoNobel NV, Nippon Paint Holdings Co. Ltd, RPM International and PPG Industries, Inc. are the major companies operating in the Aerosol Paints Market.
Which is the fastest growing region in Aerosol Paints Market?
Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Aerosol Paints Market?
In 2024, the Asia-Pacific accounts for the largest market share in Aerosol Paints Market.
What years does this Aerosol Paints Market cover, and what was the market size in 2023?
In 2023, the Aerosol Paints Market size was estimated at USD 1.06 billion. The report covers the Aerosol Paints Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Aerosol Paints Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Aerosol Paints Industry Report
Statistics for the 2024 Aerosol Paints market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Aerosol Paints analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
