Acrylic Surface Coating Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Market Report Covers Global Acrylic Surface Protective Coating Companies and is Segmented by Technology (Water-borne, Solvent-borne, Powder-based, and Other Technologies), End-user Industry (Building and Construction, Automotive, Aerospace and Defense, Industrial, and Other End-user Industries), and Geography (Asia-Pacific, North America, Europe, South America, and the Middle East & Africa).

Acrylic Surface Coating Market Size

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Acrylic Surface Coating Market Summary
Study Period 2019 - 2029
Market Size (2024) USD 19.19 Billion
Market Size (2029) USD 24.64 Billion
CAGR (2024 - 2029) 5.12 %
Fastest Growing Market Asia Pacific
Largest Market Asia Pacific

Major Players

Acrylic Surface Coating Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Acrylic Surface Coating Market Analysis

The Acrylic Surface Coating Market size is estimated at USD 19.19 billion in 2024, and is expected to reach USD 24.64 billion by 2029, growing at a CAGR of 5.12% during the forecast period (2024-2029).

Increasing applications in architectural coatings are expected to drive the market growth. On the flip side, the slowdown in global automotive production is expected to hinder the growth of the market.

  • The acrylic surface coating market is expected to grow during the forecast period, owing to the increasing demand from the building and construction setor.
  • The Asia-Pacific region dominates the global market, with the major consumption being registered in China, India, and Japan.

Acrylic Surface Coating Market Trends

Growing Demand from the Building and Construction Sector

  • Acrylic surface coatings are widely used in the building and construction sector because of their inertness and excellent color retention when exposed to outdoor conditions. Acrylics are available in various forms, such as emulsions (latex), lacquers, enamels, and powders.
  • The chief component of acrylic polymers is acrylic and methacrylic acid which provide a polymer structure with a little tendency to absorb UV light. It increases its resistance to weathering and oxidation than oil-based paints, alkyds, or epoxies, so its application increased in the buildings & construction sector.
  • The South African government devised a 'National Infrastructure Plan 2050' to deliver infrastructure development across energy, transport, digital communications, and water by 2050. USD 0.33 trillion will be invested through 2040 in infrastructure development.
  • Further, as per further statistics generated by the US Census Bureau, the annual value for new construction in the United States accounted for USD 1,657,590 million in 2022, compared to USD 1,499,822 million in 2021. Moreover, the annual value of residential construction in the United States was valued at USD 849,164 million in 2022, compared to USD 740,645 million in 2021. The country's annual non-residential construction value was USD 808,427 million in 2022, compared to USD 759,177 million in 2021. It is thereby decreasing the consumption of the market studied in the short term.
  • According to the Canadian Construction Association, the construction sector is one of Canada's largest employers and a major contributor to the country's economic success. The industry generates about USD 141 billion annually and contributes 7.5% of the country's Gross Domestic Product (GDP).
  • The building & construction industry leads in using acrylic surface coatings, with China, Germany, the United States, India, and Japan playing a major role in the market.
Acrylic Surface Coating Market: Public Residential Construction Spending, Value, United States, 2018-2022

Asia-Pacific Region to Dominate the Market

  • The Asia-Pacific region is expected to dominate the market for acrylic surface coatings during the forecast period. The demand for acrylic surface coatings is increasing in countries like China, India, and Japan because of the growing building and construction sector.
  • The largest producers of acrylic surface coatings are located in the Asia-Pacific region. Some leading companies producing acrylic surface coatings are Asian Paints, Berger Paints India Limited, Akzo Nobel NV, Jotun, and Sika AG.
  • China's 14th Five-Year Plan focuses on new infrastructure projects in energy, transportation, water systems, and urbanization. According to estimates, overall investment in new infrastructure during the 14th Five-Year Plan period (2021-2025) will reach roughly CNY 27 trillion (USD 4.2 trillion).
  • China's urbanization rate is among the highest in the world. While China's urbanization rate reached 64.7% in 2022, this urban renewal policy aims to develop greener and more efficient cities as the government seeks to improve China's urban living conditions.
  • India's huge construction sector is expected to become the world's third-largest construction market. Various policies implemented by the Indian government, such as the Smart Cities project, Housing for All, etc., are expected to bring impetus to the Indian construction industry.
  • As per the Ministry of Statistics and Programme Implementation of India, the construction sector contributed a GDP share amounting to USD 37.26 billion in Q4 2022, higher than the GDP share of USD 32.95 billion in Q3 2022.
  • Acrylic surface coatings are used as protective coatings in aerospace applications other than paints, fabric and leather finishes, floor polishes, and paper coatings.
  • The above factors and government support contribute to the increasing demand for the acrylic surface coatings market during the forecast period.
Acrylic Surface Coating Market - Growth Rate by Region

Acrylic Surface Coating Industry Overview

The global acrylic surface coating market is partially fragmented, with the major players accounting for a marginal portion of the industry. Some major companies operating in the market are Asian Paints, Berger Paints India Limited, Akzo Nobel NV, Jotun, and Sika AG, among others (not in particular order).

Acrylic Surface Coating Market Leaders

  1. Berger Paints India Limited

  2. Akzo Nobel N.V

  3. Jotun

  4. Sika AG

  5. Asian Paints

*Disclaimer: Major Players sorted in no particular order

Acrylic Surface Coating Market Concentration
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Acrylic Surface Coating Market News

  • March 2022: AkzoNobel opened a global R&D center in the UK. It will help the organization to further advance in innovation capabilities in the area of paints and coatings.

Acrylic Surface Coating Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Increasing Application in Architectural Coatings

      2. 4.1.2 Rapidly Growing Application in the Automotive Industry

      3. 4.1.3 Other Drivers

    2. 4.2 Restraints

      1. 4.2.1 Stringent Environmental Regulations Related to Lower VOC

      2. 4.2.2 Other Restraints

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Buyers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Degree of Competition

  5. 5. MARKET SEGMENTATION (Market Size in Value)

    1. 5.1 Application

      1. 5.1.1 Water-borne

      2. 5.1.2 Solvent-borne

      3. 5.1.3 Powder-based

      4. 5.1.4 Other Applications

    2. 5.2 End-user Industry

      1. 5.2.1 Building and Construction

        1. 5.2.1.1 Residential

        2. 5.2.1.2 Non-residential

      2. 5.2.2 Automotive

      3. 5.2.3 Aerospace

      4. 5.2.4 Other End-user Industries

    3. 5.3 Geography

      1. 5.3.1 Asia-Pacific

        1. 5.3.1.1 China

        2. 5.3.1.2 India

        3. 5.3.1.3 Japan

        4. 5.3.1.4 South Korea

        5. 5.3.1.5 Rest of Asia-Pacific

      2. 5.3.2 North America

        1. 5.3.2.1 United States

        2. 5.3.2.2 Canada

        3. 5.3.2.3 Mexico

      3. 5.3.3 Europe

        1. 5.3.3.1 Germany

        2. 5.3.3.2 United Kingdom

        3. 5.3.3.3 France

        4. 5.3.3.4 Italy

        5. 5.3.3.5 Rest of Europe

      4. 5.3.4 South America

        1. 5.3.4.1 Brazil

        2. 5.3.4.2 Argentina

        3. 5.3.4.3 Rest of South America

      5. 5.3.5 Middle-East and Africa

        1. 5.3.5.1 Saudi Arabia

        2. 5.3.5.2 South Africa

        3. 5.3.5.3 Rest of Middle-East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share(%)**/Ranking Analysis

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 3M

      2. 6.4.2 Akzo Nobel NV

      3. 6.4.3 Arkema Group

      4. 6.4.4 Asian Paints

      5. 6.4.5 BASF SE

      6. 6.4.6 Berger Paints India Limited

      7. 6.4.7 Dow

      8. 6.4.8 Jotun

      9. 6.4.9 PPG Industries Inc.

      10. 6.4.10 Sika AG

      11. 6.4.11 Solvay

      12. 6.4.12 The Sherwin-Williams Company

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Development of Bio-based Acrylic Coatings

    2. 7.2 Other Opportunities

**Subject to Availability
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Acrylic Surface Coating Industry Segmentation

The acrylic surface coating is mostly used for anti-slip applications, and because of the elasticity of these coatings, they do not fracture in different end-use applications. The acrylic surface coatings market is segmented by technology, end-user industry, and geography. The market is segmented by technology into water-borne, solvent-borne, powder-based, and other technologies. The market is segmented into building and construction, automotive, aerospace and defense, industrial, and other end-user industries by end-user industry. The report also covers the market size and forecasts for the acrylic surface coatings market in 15 countries across major regions. Each segment's market sizing and forecasts are based on revenue (USD).

Application
Water-borne
Solvent-borne
Powder-based
Other Applications
End-user Industry
Building and Construction
Residential
Non-residential
Automotive
Aerospace
Other End-user Industries
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
Rest of Middle-East and Africa
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Acrylic Surface Coating Market Research FAQs

The Acrylic Surface Coating Market size is expected to reach USD 19.19 billion in 2024 and grow at a CAGR of 5.12% to reach USD 24.64 billion by 2029.

In 2024, the Acrylic Surface Coating Market size is expected to reach USD 19.19 billion.

Berger Paints India Limited , Akzo Nobel N.V , Jotun, Sika AG and Asian Paints are the major companies operating in the Acrylic Surface Coating Market.

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).

In 2024, the Asia Pacific accounts for the largest market share in Acrylic Surface Coating Market.

In 2023, the Acrylic Surface Coating Market size was estimated at USD 18.26 billion. The report covers the Acrylic Surface Coating Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Acrylic Surface Coating Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Acrylic Surface Coating Industry Report

Statistics for the 2024 Acrylic Surface Coating market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Acrylic Surface Coating analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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Acrylic Surface Coating Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)