Global Acrylic Coating Market report published by Accurize Market Research forecast that the global market is expected to reach $38 billion by 2025; growing at a CAGR of 5.1% from 2017 to 2025. By geography, Asia Pacific and North America are expected to grow at a CAGR of XX% and XX%, respectively, during the forecast period.
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Rabid urbanization and infrastructural developments to drive the market
Increasing demand from the end use industries, green environment rules and regulations, rapid urbanization, and infrastructural developments in emerging economies are few factors driving the growth of the market. Though, growing prices of raw materials may obstruct the growth. Moreover, current product innovation and technological developments to reduce environmental consequence and offer safe & healthy products might provide with several growth opportunities in the forecast period.
The acrylic coating market is segregated on the basis of technology,substrate, application, and geography. The market is segmented by substrate into plastic, concrete, metal, and other substrates. The technology segment is categorized into waterborne, solventborne, powder, and other technologies. The application segment is divided into construction, automotive, general industry, furniture, and other applications.
By geography the market is segmented into North America, Europe, Asia-Pacific and rest of the world (RoW). The U.S., Canada and Mexico are covered under North America wherein Europe covers Russia, U.K., Germany, France, Italy and Rest of Europe. Asia-Pacific covers China, India, Japan, South Korea and Rest of Asia Pacific. Rest of the World (RoW) covers South America, Middle East and Africa.
"Waterborne accounted for the largest market share in the technology segment", says Accurize
The waterborne segment dominated the acrylic coating industry and demand followed by the solvent borne and powder segment. Furthermore, plastic is expected to have the fastest growth, while concrete is expected to have the highest share in the market in 2025.
"Asia-Pacific dominated the global market with the highest market share over the forecast period", says Accurize
Asia-Pacific dominated the acrylic coating market and is expected to dominate the market by 2025, with 47% share. The Asia-Pacific acrylic coating industry is expected to witness the fastest growth during the forecast period.
Top players in the market
Major companies operating in the market areBASF SE, Axalta Coating Systems, NIPSEA Group, PPG Industries Inc., The Dow Chemicals Company, The Sherwin-Williams Company, The Valspar Corporation, Brillux GmbH & Co. KG, Benjamin Moore & Co., and Asian Paints.
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