Global Acrylic Paint Market Overview
The Acrylic Paint Market Size was estimated at 3.14 (USD Billion) in 2022. The Acrylic Paint Industry is expected to grow from 3.3(USD Billion) in 2023 to 5.2 (USD Billion) by 2032. The Acrylic Paint Market CAGR (growth rate) is expected to be around 5.17% during the forecast period (2024 - 2032).
Key Acrylic Paint Market Trends Highlighted
Key market drivers of acrylic paint include growing urbanization, rising disposable income, and increased interest in DIY and home décor projects. The increasing use of acrylic paint in commercial applications, such as signage and automotive coatings, is also contributing to market growth. Opportunities for exploration and capture lie in the development of eco-friendly and low-VOC acrylic paints, as well as innovative formulations that offer enhanced durability and performance.
Trends in the acrylic paint market suggest a growing preference for water-based paints, driven by environmental concerns and ease of use. The increasing popularity of fluid acrylic paints, which offer a wide range of artistic possibilities, is also a notable trend. Moreover, there is a growing demand for acrylic paints with specialized properties, such as metallic, fluorescent, and glow-in-the-dark effects, catering to the needs of artists, designers, and hobbyists.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Acrylic Paint Market Drivers
Increasing Demand for Acrylic Paints in Arts and Crafts
Acrylic paints have become increasingly popular among artists and hobbyists due to their versatility, ease of use, and affordability. They are water-based, making them easy to clean up, and they can be used on a variety of surfaces, including canvas, paper, wood, and metal. Acrylics dry quickly, allowing artists to work quickly and efficiently. They also have a long shelf life, making them a good investment for artists who want to stock up on supplies.
The growing popularity of arts and crafts activities, such as painting, drawing, and scrapbooking, is driving the demand for acrylic paints. As more people discover the joy of creating their own art, the demand for acrylic paints is expected to continue to grow. In addition to their use in arts and crafts, acrylic paints are also used in a variety of commercial applications, such as sign painting, mural painting, and automotive painting. The versatility of acrylic paints makes them a valuable tool for a wide range of professionals. The acrylic paint market is expected to grow from USD 3.3 billion in 2023 to USD 5.2 billion by 2032, at a CAGR of 5.17%.
The growth of the market is attributed to the increasing demand for acrylic paints in arts and crafts, as well as the growing use of acrylic paints in commercial applications. The rise of e-commerce is also expected to contribute to the growth of the acrylic paint market. Online retailers offer a wide variety of acrylic paints from different brands, making it easy for customers to find the right products for their needs. The convenience of online shopping is expected to encourage more people to purchase acrylic paints, further driving the growth of the market.
Growing Popularity of Acrylic Paints for Home Decor
Acrylic paints are also becoming increasingly popular for home decor. They are easy to apply, durable, and can be used to create a variety of looks. Acrylic paints can be used to paint furniture, walls, and other home decor items. They can also be used to create murals and other works of art. The versatility of acrylic paints makes them a popular choice for do-it-yourselfers and professional decorators alike. The growing trend of home renovation and decoration is driving the demand for acrylic paints.
As more people look to update their homes, they are turning to acrylic paints to create unique and personalized looks. The affordability and ease of use of acrylic paints make them a popular choice for home decorators on a budget. The acrylic paint market is expected to grow from USD 3.3 billion in 2023 to USD 5.2 billion by 2032, at a CAGR of 5.17%. The growth of the market is attributed to the increasing demand for acrylic paints in home decor, as well as the growing use of acrylic paints in arts and crafts and commercial applications.
Technological Advancements in Acrylic Paint Production
The development of new technologies is also the reason for the growth of the acrylic paint market. New technologies are being developed to create high-quality and high-performance acrylic paints. Some companies are creating acrylic paints, which are more durable, and which do not fade. Other companies are developing an eco-friendlier type of acrylic paint. The main reason for the increased growth of the acrylic paint market is the development of new technologies.
They are used to develop new products and new types of acrylic paints for the wider target audience. The acrylic paint market will grow from USD 3.3 billion in 2023 to USD 5.2 billion in 2032 at a CAGR of 5.17%. Such growth of the market will be caused by increased demand for this type of paint in the arts and crafts, home decor, and special commercial painting industries, as well as by new technological means
Acrylic Paint Market Segment Insights
Acrylic Paint Market Type Insights
The Acrylic Paint Market is segmented by Type into Artist-grade Acrylics, Student-grade Acrylics, Hobbyist-grade Acrylics, and Industrial Acrylics. Artist-grade acrylics are high-quality paints that are characterized by superior lightfastness, pigmentation, and durability. They are specifically developed for professional artists and are more expensive than other types of grading. Student-grade acrylics are designed for beginners and students and offer a good balance between quality and price. Hobbyist-grade acrylics are paints for hobbyists and crafters that may comprise a broad range of colors and finishes.
Industrial acrylics are used for various industrial applications, such as automotive coatings, textile printing, construction, and others. According to the report, the Acrylic Paint Market revenue for Artist-grade Acrylics will reach $1.2 billion by 2024, increasing at a CAGR of 5.3%. Student-grade Acrylics will reach $0.8 billion by 2024, with a CAGR of 4.8%. Hobbyist-grade Acrylics will amount to $0.6 billion by 2024, with a CAGR of 4.5%. Industrial Acrylics will reach $1.1 billion by 2024, with the highest CAGR of 5.6%. The market is driven by the natural desire to have a hobby and create something nice with one’s own hands.
The demand is also boosted by the increasing affluence of the general population and rapid growth of the population in the urban areas of developing countries.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Acrylic Paint Market Finish Insights
The Finish segment of the Acrylic Paint Market is categorized into Gloss, Matte, Satin, and Metallic. The gloss finish offers a shiny and reflective surface that is popular for creating eye-catching effects. Matte finish provides a flat and non-reflective surface, suitable for achieving a sophisticated and understated look. The satin finish offers a subtle sheen, balancing the glossy and matte finishes, and is often preferred for interior walls and ceilings. The metallic finish imparts a shimmering and reflective effect, ideal for adding a touch of glamour and sophistication to surfaces.
In 2023, the Gloss finish held the largest market share, accounting for around 35% of the Acrylic Paint Market revenue. The demand for Gloss finish is attributed to its ability to reflect light, creating a visually appealing and vibrant effect. The Matte finish followed closely, capturing approximately 30% of the market share. Its popularity stems from its ability to conceal imperfections and create a smooth, velvety texture. Satin finish and Metallic finish each held around 20% and 15% of the market share, respectively, owing to their versatility and aesthetic appeal.
The demand for Acrylic Paints with various finishes is expected to continue growing, driven by the increasing use of paints in both residential and commercial applications.
Acrylic Paint Market Application Insights
The Acrylic Paint Market is segmented by Application into Canvas, Wood, Paper, Fabric, and Glass. Among these, the Canvas segment held the largest market share of 34.2% in 2023 and is estimated to maintain its dominance throughout the forecast period. The growing popularity of acrylic paints for creating artwork on canvas due to their versatility, quick drying time, and vivid colors are driving the growth of this segment. The Paper segment is projected to witness a significant CAGR of 5.5% during the forecast period, owing to the increasing use of acrylic paints in craft projects and decorative applications on paper.
Acrylic Paint Market Effect Insights
The Effect segment is an important part of the Acrylic Paint Market. Standard Acrylic Paints: Standard acrylic paints are the most widely used type of acrylic paints. They are made with a water-based acrylic resin and are available in a wide range of colors. Standard acrylic paints are versatile and can be used on a variety of surfaces, including canvas, paper, wood, and metal. Fluorescent Acrylic Paints: Fluorescent acrylic paints are made with a special type of pigment that glows under ultraviolet light. They are often used to create special effects for stage and costume design, as well as for fine art.
Metallic Acrylic Paints: Metallic acrylic paints are made with a metallic pigment that gives them a shiny, metallic finish. They are often used to create realistic metal effects on surfaces such as canvas, wood, and metal. Phosphorescent Acrylic Paints: Phosphorescent acrylic paints are made with a special type of pigment that glows in the dark after being exposed to light. They are often used to create special effects for stage and costume design, as well as for fine art. The Acrylic Paint Market is expected to grow significantly in the coming years, driven by the increasing demand for acrylic paints from various industries, such as the art and craft industry, the automotive industry, and the construction industry.
Acrylic Paint Market Drying Time Insights
The Drying Time segment plays a crucial role in the Acrylic Paint Market, influencing the usability and efficiency of the paints. Fast-drying Acrylic Paints are gaining significant traction owing to their ability to dry within minutes or hours, enabling quick project completion. This segment is estimated to account for approximately 42.5% of the Acrylic Paint Market revenue in 2024, driven by their convenience and time-saving advantages. Regular-drying Acrylic Paints offer a balance between drying time and workability, making them suitable for various applications.
This segment is projected to hold a share of around 33.7% in 2024. Slow-drying Acrylic Paints, while less popular, cater to specific artistic techniques such as glazing and blending and are expected to contribute a share of around 23.8% in 2024.
Acrylic Paint Market Regional Insights
The regional segmentation of the Acrylic Paint Market offers valuable insights into the market's dynamics and growth potential. North America is expected to dominate the market, contributing a significant share of the Acrylic Paint Market revenue. The region's well-established art and craft industry, coupled with the presence of major manufacturers, drives market growth. Europe follows closely, with a substantial market share driven by a strong artistic heritage and a growing demand for acrylic paints in various industries. APAC is witnessing rapid market growth due to the burgeoning art and craft sector in countries like China and India.
South America and MEA are emerging markets with promising growth prospects, driven by increasing disposable income and a growing appreciation for art. These regional insights provide a comprehensive understanding of the market landscape and help stakeholders identify opportunities for expansion and growth.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Acrylic Paint Market Key Players And Competitive Insights:
Major players in the Acrylic Paint Market industry are focusing on expanding their product portfolio by introducing new and innovative products. Leading Acrylic Paint Market players are also investing in research and development activities to enhance the quality of their products. The Acrylic Paint Market industry is expected to witness significant growth in the coming years, owing to the increasing demand for acrylic paints in various applications. The competitive landscape of the Acrylic Paint Market is characterized by the presence of several and regional players. Some of the key players in the market include Liquitex, Golden Artist Colors, Inc., Winsor & Newton, Daler-Rowney, and Reeves. These companies are constantly innovating and introducing new products to meet the evolving needs of their customers.
Liquitex is a leading Acrylic Paint Market player that offers a wide range of acrylic paints for artists of all levels. The company's products are known for their high quality and durability. Liquitex also offers a variety of educational resources and workshops to help artists learn more about acrylic painting. Golden Artist Colors, Inc. is another leading player in the Acrylic Paint Market. The company's products are known for their vibrant colors and archival quality. Golden Artist Colors, Inc. also offers a wide range of specialty products, such as iridescent paints and pouring mediums.
Winsor & Newton is a well-known Acrylic Paint Market player that has been producing high-quality art supplies for over 150 years. The company's acrylic paints are known for their rich colors and smooth consistency. Winsor & Newton also offers a variety of other art supplies, such as brushes, canvases, and papers. Daler-Rowney is a leading Acrylic Paint Market player that offers a wide range of art supplies for artists of all levels. The company's acrylic paints are known for their affordability and ease of use. Daler-Rowney also offers a variety of other art supplies, such as pencils, charcoal, and pastels. Reeves is a leading Acrylic Paint Market player that offers a wide range of art supplies for artists of all levels. The company's acrylic paints are known for their bright colors and good coverage. Reeves also offers a variety of other art supplies, such as brushes, canvases, and papers.
Key Companies in the Acrylic Paint Market Include:
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Turner Colour Works
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Masterson
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Daniel Smith
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Winsor Newton
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Utrecht
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Shiva Paints
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Grumbacher
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Amsterdam Acrylics
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Chroma Acrylics
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Golden Artist Colors
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Da Vinci Paints
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M. Graham
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DalerRowney
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Liquitex
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Sennelier
Acrylic Paint Market Industry Developments
The Acrylic Paint Market is anticipated to reach a valuation of USD 5.2 billion by 2032, expanding at a 5.17% CAGR during the forecast period of 2024-2032. Increasing adoption of acrylic paints in the automotive industry and growing demand for DIY art and craft activities are key factors driving market expansion. The market is witnessing advancements such as the development of eco-friendly and UV-resistant acrylic paints, expanding their application scope. Strategic partnerships and acquisitions among industry players are shaping the competitive landscape. Recent acquisitions include Axalta Coating Systems' purchase of U-POL and PPG's acquisition of Ennis-Flint.
Acrylic Paint Market Segmentation Insights
Acrylic Paint Market Type Outlook
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Artist-grade Acrylics
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Student-grade Acrylics
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Hobbyist-grade Acrylics
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Industrial Acrylics
Acrylic Paint Market Finish Outlook
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Gloss
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Matte
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Satin
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Metallic
Acrylic Paint Market Application Outlook
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Canvas
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Wood
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Paper
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Fabric
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Glass
Acrylic Paint Market Effect Outlook
Acrylic Paint Market Drying Time Outlook
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Fast-drying Acrylic Paints
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Regular-drying Acrylic Paints
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Slow-drying Acrylic Paints
Acrylic Paint Market Regional Outlook
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North America
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Europe
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South America
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Asia Pacific
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Middle East and Africa
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Report Attribute/Metric
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Details
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Market Size 2022
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3.14(USD Billion)
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Market Size 2023
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3.3(USD Billion)
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Market Size 2032
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5.2(USD Billion)
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Compound Annual Growth Rate (CAGR)
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5.17% (2024 - 2032)
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Report Coverage
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Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
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Base Year
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2023
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Market Forecast Period
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2024 - 2032
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Historical Data
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2019 - 2023
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Market Forecast Units
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USD Billion
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Key Companies Profiled
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Turner Colour Works, Masterson, Daniel Smith, Winsor Newton, Utrecht, Shiva Paints, Grumbacher, Amsterdam Acrylics, Chroma Acrylics, Golden Artist Colors, Da Vinci Paints, M. Graham, DalerRowney, Liquitex, Sennelier
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Segments Covered
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Type, Finish, Application, Effect, Drying Time, Regional
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Key Market Opportunities
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Growing demand for acrylic paints in hobby and craft applications Rising use of acrylic paints in commercial and industrial settings Increasing adoption of acrylic paints in architectural and decorative applications Expanding ecommerce platforms and online art supplies Innovations in acrylic paint formulations and application methods
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Key Market Dynamics
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Rising demand for high-quality paints Growth in construction industries Technological advancements Increasing art and craft activities Shift towards sustainable paints
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Countries Covered
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North America, Europe, APAC, South America, MEA
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Frequently Asked Questions (FAQ) :
The Acrylic Paint Market size was valued at USD 3.3 Billion in 2023 and is projected to grow at a CAGR of 5.17% from 2023 to 2032, reaching USD 5.2 Billion by 2032.
Asia Pacific is expected to dominate the Acrylic Paint Market, accounting for the largest market share during the forecast period. The growing demand for acrylic paints in the construction and automotive industries in the region is driving the market growth.
Acrylic paints are widely used in various applications, including canvas painting, illustration, graphic design, and mural painting. They are also used in the automotive and construction industries for decorative and protective purposes.
Major players in the Acrylic Paint Market include Liquitex, Golden Artist Colors, Winsor Newton, Daler-Rowney, and Holbein. These companies offer a wide range of acrylic paints to cater to the diverse needs of artists and professionals.
The growth of the Acrylic Paint Market is driven by factors such as the increasing popularity of acrylic paints among artists and hobbyists, the rising demand for acrylic paints in the construction and automotive industries, and the growing disposable income in emerging economies.
The Acrylic Paint Market faces challenges such as the volatility in raw material prices, the availability of substitutes, and the impact of environmental regulations on the production and disposal of acrylic paints.
The COVID-19 pandemic had a negative impact on the Acrylic Paint Market in the short term due to lockdowns and disruptions in supply chains. However, the market is expected to recover in the long term as demand for acrylic paints rebounds.
Future trends in the Acrylic Paint Market include the growing adoption of sustainable and eco-friendly acrylic paints, the development of new and innovative acrylic paint formulations, and the increasing use of acrylic paints in digital art and design.
The regulatory landscape of the Acrylic Paint Market varies by country and region. Governments are implementing regulations to ensure the safety and environmental sustainability of acrylic paints.
The Acrylic Paint Market is projected to grow at a CAGR of 5.17% from 2023 to 2032, reaching USD 5.2 Billion by 2032. The market growth is driven by factors such as the increasing popularity of acrylic paints, rising demand for acrylic paints in the construction and automotive industries, and the growing disposable income in emerging economies.
