Acrylic surface coatings are fast-drying paints comprising pigments suspended in acrylic polymer emulsion. These coatings are made up of a methacrylic or acrylic polymer that possesses strong color retention property. Acrylic coatings are soluble in water; however, they become water-resistant in the dry state. Different technologies used in acrylic surface coatings include waterborne coating, solvent-borne coating, and powder coating. Acrylic surface coatings are characterized by properties such as high surface hardness and elastomeric finish when applied as roof coating on buildings.
Acrylic surface coating has a wide variety of advantages such as low drying time, ease of application, wide pigment compatibility, and environmentally friendly nature. The substrate is either coated completely or partially depending on the context of usage, cost, level of protection, and compatibility. Surface properties of the substrate can be modified by acrylic coating depending on the purpose it serves such as decorative or functional.
Acrylic surface coatings are segmented on the basis of their substrates into concrete, plastic, metals, and wood. Construction industry is one of the major end user industries for concrete substrate acrylic coatings, as it serves many applications in construction and buildings. Urbanization and infrastructure development have led to high growth in the construction sector, thereby increasing demand for concrete-based acrylic coatings. Rise in disposable income in emerging economies has propelled demand for wood furniture. This, in turn, has fueled demand for wood substrate acrylic coatings. Increasing demand for metal substrate acrylic coatings in applications such as automobiles, machinery and equipment, aluminum and steel coil, and freight containers is expected to fuel the market growth in the next few years. Applications of waterborne coatings is increasing as these coatings possess beneficial characteristics such as good heat resistance, abrasiveness, and eco-friendly nature. This, in turn, is estimated to drive demand for acrylic surface coatings in the next few years. Excellent external durability of acrylic coatings has boosted consumption of acrylic coatings in applications such as architectural and automotive refinishes.
The global market for acrylic coatings is segmented into regions such as Asia Pacific, North America, Europe, Middle East and Africa, and Latin America. Asia Pacific accounted for major share of the acrylic coating market in 2014 followed by North America and Europe. Asia Pacific is anticipated to continue to witness high growth during the next few years owing to growth in end-user industries such as construction, automotive, furniture, and metal in countries such as India, China, and Japan. Growth in the automobile sector in countries such as India, China, Indonesia, Japan, and South Korea has boosted growth of the market in Asia Pacific. This, in turn, would aid Asia Pacific to retain its market position during the next few years. Europe is one of the largest markets for furniture across the globe. Demand for wood substrate acrylic coating in Europe is anticipated to witness steady growth during the next few years. Rising disposable income in Asia Pacific is expected to propel demand for aesthetically appealing coatings. This, in turn, is projected to drive demand for decorative paints and coatings during the forecast period. Increasing demand from major end user industries such as construction and automotive and high future growth prospects for acrylic surface coatings have resulted in several global players undertaking capacity expansion across the globe. Furthermore, acrylic coatings are eco-friendly in nature. Hence, environmental regulations play a vital role in fueling demand for acrylic surface coatings.
Some of the key companies operating in the acrylic surface coating market include BASF SE, The Dow Chemical Company, Axalta Coating Systems, NIPSEA Group, PPG Industries, Inc., The Valspar Corporation, The Sherwin-Williams Company, and Asian Paints.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.