Global Acrylic Powder Coating Market Trends 2024, Forecast To 2033
12 Nov, 2024
The acrylic powder coating market has expanded significantly, with growth from $1.45 billion in 2023 to $1.53 billion in 2024, at a CAGR of 5.7%. Key growth drivers include the increased use in electronics, demand for aesthetic appeal, expansion in the construction industry, widening distribution channels, and rising demand in cosmetics and beauty. The acrylic powder coating market is set to reach $1.93 billion by 2028, growing at a CAGR of 6.0%. Factors fueling growth include higher adoption in the automotive industry, the popularity of nail products, increased industrialization, more applications in the furniture industry, and environmental regulations supporting powder coatings. Key trends involve technological advancements, application versatility, development of functional coatings, high-temperature applications, and sustainability efforts.
Major Driver In The Acrylic Powder Coating Market
The expanding automotive industry is projected to drive the growth of the acrylic powder coating market. The automotive industry, which includes the design, development, manufacturing, marketing, and sale of motor vehicles such as cars, trucks, and motorcycles, is growing due to the increasing global demand for electric vehicles, advancements in autonomous driving technology, and a shift in consumer preferences toward smart transportation solutions. Acrylic powder coating plays a crucial role in the automotive industry by providing durable, weather-resistant, and UV-stable finishes that protect vehicle surfaces from corrosion, scratches, and environmental wear while enhancing their visual appeal. According to a September 2024 report from the Office for National Statistics, the manufacturing division for motor vehicles in the UK increased by $12.8 billion (£9.6 billion), a 22% rise, reaching $71 billion (£53.3 billion) in 2023. The growth of the automotive industry is thus driving the acrylic powder coating market, which is expected to grow to $550 million in 2024 and $750 million by 2028.
Request A Free Sample Of The Acrylic Powder Coating Market ReportAcrylic Powder Coating Market Competitive Landscape
BASF SE, Covestro AG, PPG Industries Inc., Evonik Industries AG, Akzo Nobel N.V., Nippon Paint, DIC Corporation, KCC Corporation, Axalta Coating Systems, Asian Paints Limited, Kansai Paint, Jotun AS, Tiger Coatings, IFS Coatings, Anderson Development Company, Tamiras, ABITL Finishing Inc., Hosokawa Alpine AG, Vijay Coat Powder Coatings, Primco Paints
Key Acrylic Powder Coating Market Trend
Companies in the acrylic powder coating market are focusing on products like acrylic coating systems to provide a smooth, high-gloss finish. In July 2024, Akzo Nobel N.V. launched the Selva Pro range, including the Selva Pro Acrilico system. This system enhances the natural beauty of wood grain and offers various finish options, including a clear topcoat with a contemporary dead flat finish.
Purchase The Global Acrylic Powder Coating Market Report Directly And Get A Swift DeliveryGlobal Acrylic Powder Coating Market Segmentation
The acrylic powder coating market covered in this report is segmented –
1) By Type: Thermoplastic Acrylic Powder Coatings, Thermosetting Acrylic Powder Coatings
2) By Technology: Electrostatic Spray, Fluidized Bed, Electrostatic Fluidized Bed
3) By Formulation: Glossy, Semi-Glossy, Matte, Metallic, Textured
4) By Chemical Resistance: High Chemical Resistance, Medium Chemical Resistance, Low Chemical Resistance
5) By Application: Automotive, Construction, Appliances, Furniture, Aerospace
By Geography:The regions covered in the acrylic powder coating marker report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Asia-Pacific was the largest region in the acrylic powder coating market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The Acrylic Powder Coating Global Market Report 2024 furnishes information about the global acrylic powder coating market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.