Magnetic paint is a pre-mixed, lead free, and water based latex primer that can be coated with commonly available paints. Non-rusting magnetic particles are properly mixed with water based latex and applied on the walls by using a foam roller or brush. With magnetic paint, walls can serve as floor to ceiling magnetic play or workplace areas. Typical applications of magnetic paint include commercial, industrial, residential, educational, and medical facilities. Magnetic paint eliminates installation of expensive bulletin or cork boards. Artwork, posters, plans, and drawings can be hung with non-invasive magnets, saving the wear and tear that is normally associated with tapes and glue. It is recommended to apply several layers of magnetic paint in order to increase the magnetic effect of the paint. Magnetic paint does not create a magnetic field; as a result, it does not affect magnet-sensitive equipment including pacemakers, mobile phones, televisions, and computers. Proper surface preparation is considered an essential requirement for long-lasting finish. Magnetic paint can be coated with any color latex or enamel paint or wall paper.
Growth in the interior design sector is one of the significant drivers of the global magnetic paint market. Consumers can affix picture frames, artwork, chalkboards, etc. to any surface. Thus, magnetic paints help home decorators to easily arrange and re-arrange items on wall surfaces without sticky adhesives or nails. Increase in demand from the commercial infrastructure is another key factor fueling the magnetic paint market. Most luxurious restaurants and apartments concentrate on improving the esthetic look with the usage of magnetic paints. Magnetic paint is regarded one of the best solutions for offices, conference rooms, studios, and hospitals .Magnetic paints are especially recommended for kindergartens and schools as a smart and secure alternative to needles and nails.
Based on application, the global magnetic paint market can be segmented into commercial, industrial, residential, educational, and medical facilities. In terms of substrate, the global magnetic paint market can be classified into wood, metal, glass, and plastics. Resins used for manufacturing magnetic paints can be primarily categorized into acrylic and epoxy resins.
The global magnetic paint market expanded at a moderate pace in 2016. This trend is expected to continue during the forecast period. In terms of geography, the magnetic paint market can be segregated into Asia Pacific, North America, Europe, Middle East & Africa, and Latin America. The magnetic paint market in Asia Pacific is projected to expand at a significant pace owing to the rapid urbanization and infrastructure development in countries such as China, India, and those in the ASEAN sub-region. Demand for magnetic paints in North America and Europe is anticipated to remain attractive owing to the rise in demand from the interior design sector. In Europe, advancements in various technologies are expected to spur the market in the upcoming years. Rapid industrialization and developmental activities in Middle East & Africa, particularly in the construction sector, are likely to fuel the magnetic paint market in the region. Recovery in the architectural and hence the interior design sector in the next few years is projected to positively impact the magnetic paint market in Latin America.
High degree of competition exists in the global magnetic paint market. Key players operating in the global magnetic paint market include IdeaPaint Inc., Kling Magnetics, Rust-Oleum, Smarter Surfaces U.K., and Juz Paint (SEA) Pte Ltd.
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.