Aerosol Paints Market Size
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
CAGR | > 5.50 % |
Fastest Growing Market | Asia-Pacific |
Largest Market | Asia-Pacific |
Market Concentration | High |
Major Players*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Aerosol Paints Market Analysis
The aerosol paints market is expected to register a CAGR of more than 5.5% during the forecast period.
- The Covid-19 pandemic negatively impacted the aerosol paints market. However, post covid pandemic, the rising demand for aerosol paints from end-user industries like automotive, architectural, and transportation is expected to revive the market.
- The increasing demand for architectural coating applications is the major factor driving the market. However, stringent volatile organic compounds (VOC) emission laws are expected to hinder the market's growth.
- Shifting focus toward developing eco-friendly alternatives is likely to act as an opportunity in the future. Asia-Pacific dominates the global market, with robust demand from China, followed by India and Japan.
Aerosol Paints Market Trends
This section covers the major market trends shaping the Aerosol Paints Market according to our research experts:
Architectural to Dominate the Market
- The architectural segment dominates the demand in the aerosol paints market. Architectural coatings include interior and exterior paints, primers, sealers, varnishes, and stains that are applied on-site to new and existing residential, commercial, institutional, and industrial buildings.
- Conventional paints are used for architectural coatings applications. However, 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.
- The Asia-Pacific has been witnessing strong growth in residential construction in countries such as India, China, the Philippines, Vietnam, and Indonesia. According to the Fitch Solutions Infrastructure Report (FSIR), China is the world's largest construction market and is forecasted to grow at a compound annual growth rate (CAGR) of 8.6% between 2022 and 2030.
- Besides, in North America, high housing demand, owing to the growing population, increasing immigrants and demand for homes, and the trend of nuclear families drive residential construction in the region.
- The United States is the largest construction market in the North American region. According to the US Census Bureau, in February 2022, the construction spending in the country was an adjusted annual rate of USD 1,704.4 billion, 0.5% more than the revised January estimate of USD 1,695.5 billion.
- Hence, the architectural end-user segment is expected to dominate the market for aerosol paints during the forecast period.
Germany to Dominate the European Region
- Germany has the largest construction industry in Europe. The non-residential and commercial buildings in the country are expected to witness significant growth prospects in the coming years. The country's total buildings and construction work permits in 2020 were around 232 thousand units. Additionally, the increasing need for schools, government offices, and healthcare facilities is expected to boost the construction industry in the country.
- Furthermore, the new German Social Democrat government is focusing heavily on the housing crisis in the country. The government is creating an entirely new ministry to supervise its housing plans. The government has pledged to construct over 400,000 new housing units every year since 2022, 100,000 of which will be publicly subsidized. This is expected to fuel the demand for aerosol paints from the residential segment.
- In the past few years, the automotive industry has been witnessing a decline in production in the country due to the high cost and shifting production to countries like China. However, the German government's initiated e-mobility plan aims to put 15 million electric vehicles (EVs) on the road by 2030. This is expected to drive up automotive production in the country.
- Some key players in the German furniture industry are Huls AG & Co. KG, Topstar GmbH, and Rauch GmbH & Co. KG, among others. Most companies are located in Bavaria, Baden-Wurttemberg, and North Rhine-Westphalia. Currently, there are over 22,000 furniture manufacturers across the country.
- German furniture manufacturers are investing in skills, design, creativity, research, innovation, and new technologies that can produce new products in line with the changing population structure, lifestyles, trends, and new business models and supplier-consumer relationships. Thus, the development of new technologies is expected to drive the growth of the woodworking market in the country.
- The aforementioned factors may contribute to the increasing demand for aerosol paints in Germany during the forecast period.
Aerosol Paints Industry Overview
The aerosol paints market is partially consolidated in nature. The major players in this market include Krylon Products Group, PPG Industries, Inc., Rust-Oleum, Nippon Paint Holdings Co., Ltd., and Valspar, among others.
Aerosol Paints Market Leaders
Krylon Products Group
Rust-Oleum
Valspar
Nippon Paint Holdings Co., Ltd.
PPG Industries, Inc.
*Disclaimer: Major Players sorted in no particular order
Aerosol Paints Market News
- November 2022: The Catalan corporate group Briolf acquired 100% of Areco Italia SpA. Areco specializes in manufacturing and developing aerosol paints for multiple sectors, such as the decoration industry and DIY.
- January 2022: PPG announced that it would invest more than USD 10 million to expand the production of original automotive equipment manufacturer (OEM) coatings at the Weingarten site in Germany.
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 Increasing Demand for Automotive Refinish Applications
4.1.2 Increasing Usage of Aerosol Paints in DIY Activities
4.2 Restraints
4.2.1 The Increasing Prices of Raw Materials
4.2.2 Stringent VOC Emission Laws
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 Consumers
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
5.1 Resin
5.1.1 Acrylic
5.1.2 Epoxy
5.1.3 Polyurethane
5.1.4 Alkyd
5.1.5 Other Resins
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
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 Share(%)**/Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 Aeroaids Corporation
6.4.2 AVT Paints Pty Ltd
6.4.3 DUPLI-COLOR
6.4.4 Kobra Paint
6.4.5 Krylon Products Group
6.4.6 Masco Corporation
6.4.7 MOLOTOW
6.4.8 MONTANA COLORS S.L.
6.4.9 Nippon Paint Holdings Co., Ltd.
6.4.10 Plutonium Paint
6.4.11 PPG Industries, Inc.
6.4.12 RUST-OLEUM
6.4.13 Samurai Paint
6.4.14 Valspar
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Shifting Focus Toward Developing Eco-friendly Alternatives
Aerosol Paints Industry Segmentation
Aerosol paints are useful for quick, semi-permanent marking on construction and surveying sites. Aerosol spray paint, also called rattle cans, is mostly manufactured and sealed in a pressurized container (tin or can). It provides a smooth and evenly coated 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. 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. The report offers market size and forecasts for 15 countries across major regions.
For each segment, market sizing and forecasts have been done on the basis of value (USD million).
Resin | |
Acrylic | |
Epoxy | |
Polyurethane | |
Alkyd | |
Other Resins |
Technology | |
Solvent-borne | |
Water-borne |
End-User Industry | |
Automotive | |
Architectural | |
Wood and Packaging | |
Transportation | |
Other End-user Industries |
Geography | |||||||
| |||||||
| |||||||
| |||||||
| |||||||
|
Aerosol Paints Market Research FAQs
What is the current Aerosol Paints Market size?
The Aerosol Paints Market is projected to register a CAGR of greater than 5.5% during the forecast period (2024-2029)
Who are the key players in Aerosol Paints Market?
Krylon Products Group, Rust-Oleum, Valspar, Nippon Paint Holdings Co., Ltd. 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?
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 Intelligenceā¢ 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.