What are Major Factors Responsible for Surge of Global Acrylic Surface Coating Market?

by Manish Kumar Digital Analyst

The rising demand for decorative paints is one of the biggest factors propelling the need for acrylic surface coatings across the world. Acrylic coatings are extensively used in exterior and interior walls, furniture, automotive, and several other applications. In many countries, the soaring disposable income of people, large-scale urbanization, and infrastructural development activities, on account of the rising government incentives and initiatives, are significantly boosting the demand for aesthetically appealing decorative coatings.

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The other important factor pushing the demand for acrylic coatings is the rising environmental concerns raised over the widespread usage of paints and coatings consisting of highly volatile organic compounds (VOC). In addition to this, the several harmful effects of these volatile compounds such as cancer and respiratory illness have further bolstered the demand for coatings containing lower levels of VOCs, such as acrylic coatings. Moreover, the governments of many countries have enacted policies for reducing the usage of coatings containing high VOCs and this is massively augmenting the adoption of acrylic coatings throughout the world.

 

Driven by the above-mentioned factors, the global acrylic surface coating market is expected to witness tremendous growth over the next few years. Acrylic surface coatings are used in the construction, automotive, furniture, and industrial applications. Out of these, the construction sector registered significant usage of acrylic surface coatings in the last few years and this trend is expected to continue in future as well. The most common types of acrylic coatings available in the market are solvent-borne, water-borne, and powder coatings.

 

Globally, the Asia-Pacific (APAC) region registered large-scale utilization of acrylic surface coatings over the last few years and it is also expected to observe a similar trend in the coming years. It is predicted by many industry experts that the usage of acrylic surface coatings will increase at a rapid rate in the APAC region in future. This is mainly attributed to the soaring government investments and initiatives in many countries for infrastructural development projects, flourishing automotive industry, ballooning adoption of eco-friendly coatings, and the increasing purchasing power of the people, in the region.

 

The acrylic surface coatings are produced in such a way that they can be used in multiple applications in the paint and coatings industry. Due to escalating construction and infrastructural development activities all around the globe, especially in the developing countries of APAC, such as China and India, because of the huge amounts of government investments, the paints and coatings industry will observe unparalleled growth across the world and this will create numerous growth opportunities for the acrylic surface coating market in the coming years.

 

Thus, it is clear that due to the thriving paints and coatings industry and the increasing number of construction activities, the demand for acrylic surface coatings will shoot-up across the world in the coming years.

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Created on Jun 9th 2020 07:04. Viewed 242 times.

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