Global Dry Erase Paint Market: Snapshot
The global dry erase paint market is expected to gain traction not only in the education sector but also corporate and corporate learning sectors on account favorable benefits and properties. There could be a wider area of application available for dry erase paint. Besides traditional dry erase whiteboards used in conference rooms, corporates could virtually engage any smooth surface for using dry erase paint on. The newness of being allowed to use forbidden surfaces at workplaces or other walls could encourage innovation in the thought processes of employees. Furthermore, using dry erase paint in offices could be one of the ways to add the elements of interactivity and fun to work.
With the advancement in technology, the global dry erase paint market is anticipated to introduce products that comprise of little to zero volatile organic compounds (VOCs). This could help industry players to draw favor from authoritative bodies such as the Occupational Safety and Health Administration (OSHA) and Environmental Protection Agency (EPA).
Collaboration processes in the corporate field are foreseen to immensely benefit from various products offered in the global dry erase paint market. Furthermore, corporate cultures and flexible workspace solutions could augment the demand for dry erase paint. Kindergartens and schools are also predicted to add to the growth of the market with the rise of interactive learning and other innovative solutions in the educational sector. Novel ideas such as erasable walls could prove to be vital for the overall growth of the market.
Dry erase paints, also known as whiteboard paints or erasable markers, are white board markers which are used to write on a white board. A white board is a rectangular flat wooden surface coated with white glossy plastic, used for writing on with an erasable marker. Dry erase paints are, non-permanent paints or markers, which are utilized for writing on a board that can be wiped off from the board easily after use. These markers are available from low-cost, inexpensive and low-quality paint options to expensive, high-quality options. The paints are available in different colors.
Dry erase paint was first invented by Jerry Woolf of Techform Laboratories. In 1975, it was patented by Pilot Pen. Currently, the product is in high demand due to its convenience. In terms of application, the usage of dry erase paints ranges from temporary writing with acetate sheets used for overhead projectors to writing on whiteboards and similar other glossy surfaces. The paint is employed to write on surfaces such as drywall, masonite, wood, cement, and metal. The dry erase paints should be flexible enough to be applied over acrylic latex painted surfaces and dry wall without damaging the substrate. Strong VOC emission and high odor are the major restraints for the dry erase paint market.
The dry erase paint market can be segmented into dry erase pen and dry erase marker. Dry erase ink markers are similar to permanent ink markers in terms of formulation of inks. However, the dry erase ink includes a surfactant that makes the ink easily erasable. In terms of resin type, the market can be segmented into acrylics, epoxy, polyurethanes, polysiloxane, and others. The aliphatic polyurethanes and polysiloxane-based dry erase paints are the most popular type of paints available in the market. Polysiloxane resins are high solids with low VOC coatings that create a tightly cross-linked, chemical resistant, and stain-resistant film over intact substrates. The product has a disinfectant odor, similar to that found in healthcare facilities, and is thus suitable to be applied in occupied buildings by professional applicators. Aliphatic polyurethanes consist of a resin component and a hexamethylene diisocyanate (isocyanate) activator component, which requires the professional applicator to take respiratory safety measures such as wearing an air-supplied respirator during application.
Furthermore, the dry erase paint market can be segmented into water-borne, oil-borne, and solvent-borne segment. Water-borne and oil-borne dry erase paints are the commonly consumed forms, in the market. Demand for water-borne dry erase paints is higher, as they have less odor and low VOC emissions.
In terms of applications, the dry erase paint market can be segmented into companies, healthcare facilities, and educational institutions. Demand for dry erase paints is significant in educational institutions. Moreover, they are used on a daily basis. The educational institutes segment accounts for a high share of the dry erase paint market, followed by companies and healthcare facilities.
Key manufacturers operating in dry erase paint market include Precision Coatings, Kokuyo Camlin, Candy Paint Asia, The Sherwin-Williams Company, Dulux, Idea Paint, Krylon Products Group, and LA-CO Industries.
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.