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Acrylic Surface Coating Market Analysis :
The acrylic coating is a quick drying paint, which consists of several pigments that are acrylic polymer emulsion suspended. This coating is made of acrylic or methacrylic polymer that has better color retention characteristics. Acrylic surface coatings under dry conditions are water-resistant in nature and possess characteristics such as increased surface hardness and superior elastomeric finish in the surface of building. In acrylic surface coatings, various technologies such as waterborne coating, solvent-borne coating, and powder coating are used. Acrylic surface coatings are characterized by features such as high surface hardness and elastomeric finish when applied on buildings as a roof coating. These coatings exhibit a wide range of advantages such as low drying time, ease of application, wide pigment compatibility, and environmentally friendly nature.
Key drivers of global acrylic surface coating market
Increase in demand for paints for aesthetic purpose is one of the major factors boosting the growth of the global market for acrylic surface coating. The demand for acrylic surface coatings that release lower levels of volatile organic compounds (VOCs) is increasing rapidly, which further contributes toward the growth of the global market. In addition, rise in applications, ranging from interior decoration to exterior walls, furniture, and traffic lights to automobiles, is expected to support the acrylic surface coating market. Moreover, increase in investments for infrastructural development in developing nations is expected to boost the demand for acrylic surface coatings.
Market scenario: opportunities and challenges
Rise in disposable income coupled with increase in urbanization are expect to result in increased demand for aesthetically appealing coats and drive the demand for decorative paints over the projected timeframe. Moreover, increase in investment for infrastructural development in developing countries is expected to serve as a significant market growth opportunity. In addition, upsurge in demand for coatings in construction, furniture, metal fabrication, coil, and plastic is anticipated to create immense potential for market expansion. Furthermore, increase in use of powder coatings in consumer goods, automotive, architecture, and furniture propels the acrylic surface coating industry growth. Increase in consumption of acrylic surface coating owing to its various advantages over its substitutes such as their low drying time, wide pigment compatibility, ease of application, and eco-friendliness drives the market growth. However, slowdown in global automotive production is expected to hinder the growth of the market.
COVID-19 scenario analysis
Owing to the outbreak of the COVID-19 pandemic, the global acrylic surface coating market is expected to witness a slowdown during the next couple of years. Government of various countries have implemented lockdown, which has led to shutdown of factories in scores of cities and provinces across the world, thereby leading to predictions of a sharp slowdown of acrylic surface coating industry. The prevailing pandemic situation has led to weakened demand in the automotive, manufacturing, telecommunications, and white goods for paints and coatings. The growth recovery of the industry depends heavily on the duration of the restrictions imposed and their influence on economic activity around the globe. .
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