Global Acrylic Water Based Paint Market Overview:
Acrylic Water Based Paint Market Size was estimated at 15.2 (USD Billion) in 2022. The Acrylic Water Based Paint Market Industry is expected to grow from 15.71(USD Billion) in 2023 to 21.21 (USD Billion) by 2032. The Acrylic Water Based Paint Market CAGR (growth rate) is expected to be around 3.39% during the forecast period (2024 - 2032).
Key Acrylic Water Based Paint Market Trends Highlighted
Acrylic water-based paints are gaining prominence in the global market due to their versatility, eco-friendliness, and cost-effectiveness. These paints are primarily used in architectural, automotive, and industrial applications, offering excellent adhesion, durability, and resistance to weathering.
Key market drivers include increasing demand for sustainable and environmentally friendly building materials, growing urbanization, and rising disposable incomes. Additionally, the expansion of the automotive industry and the increasing use of acrylic paints in industrial applications are contributing to market growth.
Recent trends in the acrylic water-based paint market include the development of low-VOC (volatile organic compound) paints, advancements in color technology, and the emergence of specialty paints for specific applications. Innovative coatings with enhanced properties, such as antimicrobial coatings and self-cleaning paints, are also gaining popularity.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Acrylic Water Based Paint Market Drivers
Rising Demand for Eco-Friendly Paints
The growing awareness of the environmental impact of traditional paints has led to a surge in demand for eco-friendly alternatives like acrylic water-based paints. These paints are free from harmful chemicals, such as VOCs (volatile organic compounds), and have a low carbon footprint. They are also non-toxic and safe for use in both indoor and outdoor applications. The increasing adoption of green building practices and government regulations promoting sustainable construction are further driving the demand for acrylic water-based paints in the Acrylic Water Based Paint Market Industry.
Technological Advancements and Product Innovations
The Acrylic Water Based Paint Market Industry is witnessing continuous technological advancements and product innovations. Manufacturers are investing in research and development to improve the performance and durability of acrylic water-based paints. These advancements include the development of new resins, pigments, and additives that enhance the paint's resistance to fading, cracking, and peeling. Additionally, the introduction of innovative application techniques, such as spray-on and roll-on technologies, is making it easier and more convenient for users to apply acrylic water-based paints.
Growth in Construction and Home Improvement Sector
The construction and home improvement sector is a prominent growth driver of the Acrylic Water Based Paint Market Industry. The growing number of residential and commercial construction projects, especially in emerging economies, is boosting the demand for paints and coatings. Acrylic water-based paints are most favored due to their versatility, longevity, and ease of application. As such, they are ideal for both new constructions and renovation projects.The rising disposable income and urbanization in the developing countries constitute a prominent driver of the construction and home improvement sector, leading to the growing demand for acrylic water-based paints.
Acrylic Water Based Paint Market Segment Insights:
Acrylic Water Based Paint Market Paint Type Insights
Market Segment Definition Acrylic Water Based Paint Market has been segmented based on the paint types included as Interior Acrylic Water Based Paint and Exterior Acrylic Water Based Paint. The interior acrylic water based paint is anticipated to hold the largest share by 2023 due to its increasing use on residential and commercial buildings. However, the exterior acrylic water based paint segment is expected to experience significant growth due to its increasing use for painting exterior surfaces. Interior acrylic water based paints are commonly used on interior walls and ceilings as they provide for excellent coverage and durability.In addition, the paint is easy to use and clean, which makes it a popular choice for do-it-yourself also known as DIY projects. Exterior acrylic water based paints can be used for the exterior surfaces as they can withstand severe weather conditions. For this reason, they are ideal for use on surfaces such as walls, siding, and trim. In addition, the exterior acrylic water based paint is resistant to fading and chalking, which boos the durability and maintenance of the paint quality. Market Analysis and Forecast Acrylic Water Based Paint Market is anticipated to experience steady growth throughout the forecast period due to the increasing demand from the construction industry.In addition, the growing demand for do it yourself is also expected to experience growth. The market is anticipated to be highly competitive due to the presence of a significant number of major players. The major players are AkzoNobel, PPG Industries, Sherwin-Williams, and Nippon Paint.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Acrylic Water Based Paint Market Resin Type Insights
Resin type is a key market segment, with styrene-acrylic, vinyl acetate-acrylic, and acrylic copolymers being the most prominent types. Styrene-acrylic is a versatile resin that offers excellent adhesion, durability, and resistance to chemicals and weathering. Vinyl acetate-acrylic is known for its flexibility, toughness, and resistance to moisture and alkali. Acrylic copolymers, on the other hand, are tailored to provide specific properties, such as enhanced UV resistance, color retention, and scrub resistance. The market for styrene-acrylic resins is expected to grow at a steady pace, driven by its wide range of applications in architectural coatings, automotive refinishes, and industrial coatings.Vinyl acetate-acrylic resins are expected to witness moderate growth, owing to their increasing use in interior and exterior paints for residential and commercial buildings. Acrylic copolymers are projected to experience significant growth, as they offer advanced performance characteristics and cater to the growing demand for high-performance coatings in various industries.
Acrylic Water Based Paint Market Application Insights
The Acrylic Water Based Paint Market is segmented by application into Residential, Commercial, and Industrial. Among these segments, the Residential segment is expected to hold the largest market share in 2023, accounting for nearly 48.3% of the Acrylic Water Based Paint Market revenue. The growth of this segment can be attributed to the increasing demand for acrylic water-based paints for home renovations and new constructions. The Commercial segment is projected to witness significant growth during the forecast period, owing to the rising construction activities in the commercial sector globally.The Industrial segment is anticipated to hold a relatively smaller market share compared to the other segments, but it is expected to exhibit steady growth over the coming years due to the increasing use of acrylic water-based paints in industrial applications, such as manufacturing and automotive.
Acrylic Water Based Paint Market Finish Insights
The Finish segment plays a crucial role in shaping the Acrylic Water Based Paint Market. In 2023, the Flat finish dominated the market, accounting for approximately 38.1% of the global revenue. Its popularity stems from its ability to conceal imperfections and create a matte, non-reflective surface, making it ideal for ceilings and interior walls. Eggshell finish, with a slightly higher sheen than Flat, captured around 29.4% of the market share. It offers a subtle sheen that adds depth and warmth to walls, while still maintaining a low-gloss appearance.Satin finish, known for its smooth, silky texture, held a market share of 19.2%. Its ability to resist stains and fingerprints makes it suitable for high-traffic areas like kitchens and bathrooms. Semi-Gloss finish, with a higher sheen level, contributed 9.6% to the market revenue. It provides a glossy, durable surface that is easy to clean and maintain, making it popular for trims, doors, and cabinetry. Gloss finish, with the highest sheen level, accounted for 3.7% of the market share. Its reflective surface adds a touch of elegance and sophistication to walls and is often used as an accent or highlight color.
Acrylic Water Based Paint Market Regional Insights
The regional segmentation of the Acrylic Water Based Paint Market presents distinct market dynamics and growth opportunities. North America holds a significant market share, driven by the presence of major construction and architectural industries. In 2023, the regional market was valued at USD 5.61 billion and is projected to reach USD 7.25 billion by 2032, exhibiting a CAGR of 3.1%. Europe follows closely with a market size of USD 4.42 billion in 2023, anticipated to reach USD 5.72 billion by 2032, growing at a CAGR of 2.9%. APAC is poised for substantial growth, with a market valuation of USD 3.19 billion in 2023, expected to reach USD 4.87 billion by 2032, registering a CAGR of 4.2%.South America and MEA are emerging markets with growing demand for acrylic water based paints, contributing to the overall market expansion.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Acrylic Water Based Paint Market Key Players And Competitive Insights:
The most vital companies in the Acrylic Water Based Paint Market are expanding their operation through mergers and acquisitions. To illustrate, in 2021, Axalta Coating Systems acquired Crown Paints. It is the UK’s finest manufacturer of coatings that are used in the field of architecture. Hereby, this acquisition helped Axalta expand its operation area in Europe. Most notably, in the previous year, PPG Industries likewise acquired Tikkurila, the most prominent company specializing in paint and coatings production in Northern Europe. Sherwin-Williams is one of the most influential players on the market, and it goes beyond saying that this company produces various sorts of acrylic water based paints for commercial and residential applications. Precisely, its assortment includes paint for interior walls and ceilings, as well as interior and exterior use.
Sherwin-Williams offers acrylic based paints on water for changes to wood and metal surfaces. Businesses have a vast assortment of options from the reputable firm that also includes paint for the trim and other bespoken solutions. In addition, Sherwin-Williams is one of the most respectful companies that offer first-class customer service. In addition to this, Sherwin-Williams is deeply involved in innovation and sustainability, and it massively invests in R The company aims to create the finest and the novel of the best quality paints. Moreover, the corporation is doing its best to reduce the carbon footprint and wastes. On the other hand, there is also AkzoNobel, another force to reckon with in the landscape. It also provides a vast assortment of acrylic water based paints that are suitable for commercial and residential uses.
Key Companies in the Acrylic Water Based Paint Market Include:
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Nippon Paint
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AkzoNobel
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BASF
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Valspar
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Jotun Paints
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Kansai Paint
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Asian Paints
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RPM International
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HEMPEL
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Jotun
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Berger Paints India
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SherwinWilliams
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Axalta Coating Systems
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PPG Industries
Acrylic Water Based Paint Market Industry Developments
The Acrylic Water Based Paint Market is poised to grow at a CAGR of 3.39% from 2024 to 2032, reaching a valuation of USD 21.21 billion by 2032. The increasing demand for eco-friendly and VOC-compliant paints is driving the market growth. Acrylic water based paints offer several advantages over traditional solvent-based paints, including faster drying time, lower odor, and easier cleanup. The construction industry is a major consumer of acrylic water based paints, and the growing construction activities in emerging economies are expected to boost market demand. Furthermore, the rising popularity of DIY (Do-It-Yourself) projects is also contributing to the market growth. Key players in the market include AkzoNobel, PPG Industries, Sherwin-Williams, and Nippon Paint. Recent developments include the launch of new products with improved performance and durability, as well as strategic partnerships and acquisitions to expand market reach.
Acrylic Water Based Paint Market Segmentation Insights
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Acrylic Water Based Paint Market Paint Type Outlook
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Acrylic Water Based Paint Market Resin Type Outlook
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Styrene-Acrylic
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Vinyl Acetate-Acrylic
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Acrylic Copolymers
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Acrylic Water Based Paint Market Application Outlook
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Residential
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Commercial
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Industrial
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Acrylic Water Based Paint Market Finish Outlook
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Flat
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Eggshell
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Satin
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Semi-Gloss
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Gloss
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Acrylic Water Based 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
| Report Attribute/Metric |
Details |
| Market Size 2022 |
15.2(USD Billion) |
| Market Size 2023 |
15.71(USD Billion) |
| Market Size 2032 |
21.21(USD Billion) |
| Compound Annual Growth Rate (CAGR) |
3.39% (2024 - 2032) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year |
2023 |
| Market Forecast Period |
2024 - 2032 |
| Historical Data |
2019 - 2023 |
| Market Forecast Units |
USD Billion |
| Key Companies Profiled |
Nippon Paint ,AkzoNobel ,BASF ,Valspar ,Jotun Paints ,Kansai Paint ,Asian Paints ,RPM International ,HEMPEL ,Jotun ,Berger Paints India ,SherwinWilliams ,Axalta Coating Systems ,PPG Industries |
| Segments Covered |
Paint Type ,Resin Type ,Application ,Finish ,Regional |
| Key Market Opportunities |
Growing infrastructure increasing urbanization rising consumer disposable income |
| Key Market Dynamics |
Growing construction increasing demand technological advancements environmental regulations and emerging markets |
| Countries Covered |
North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Acrylic Water Based Paint Market was valued at 15.71 billion U.S. dollars in 2023.
The Acrylic Water Based Paint Market is expected to reach 21.21 billion U.S. dollars by 2032.
The Acrylic Water Based Paint Market is expected to grow at a CAGR of 3.39% from 2023 to 2032.
Asia Pacific is expected to account for the largest share of the Acrylic Water Based Paint Market in 2032.
The architectural segment is expected to account for the largest share of the Acrylic Water Based Paint Market in 2032.
Some of the key competitors in the Acrylic Water Based Paint Market include AkzoNobel, PPG, Sherwin-Williams, Nippon Paint, and BASF.
Some of the key trends driving the growth of the Acrylic Water Based Paint Market include the increasing demand for eco-friendly paints, the growing construction industry, and the rising disposable income of consumers.
Some of the challenges facing the Acrylic Water Based Paint Market include the volatility of raw material prices, the competition from solvent-based paints, and the environmental regulations.
Some of the opportunities for the Acrylic Water Based Paint Market include the development of new technologies, the expansion into new markets, and the growing demand for customized paints.
Some of the key factors to consider when investing in the Acrylic Water Based Paint Market include the market size, the growth potential, the competitive landscape, and the regulatory environment.
