Industry Background:
Acrylic Latex is one the highest quality water-based paints on the market that uses plastic resins. Plastic resins are made up of polyvinyls or acrylics. Acrylic latex paints even though has latex in their name but does not consist of rubber as it is widely assumed. It is easy to apply compared to oil-based paints and even spreads less hazardous order, unlike Oil paints. With the increased innovation aimed at improving the quality of acrylic latex, the paint is gaining popularity among the masses.This growth is primarily driven by Being a Water-Based Paint, it is More Environment Sustainable Compared to Oil-Based Paints which Release Hazardous Odour (Less VOC) and Requires Cleaning Solvents
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Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Volume Unit | K Tons |
Value Unit | USD (Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Chemicals sector in the
region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Vendors, such as Akzo Nobel N.V. (Netherlands), PPG Industries, Inc. (United States), Sherwin-Williams Co. (United States), Nippon Paint Holdings Co. (Japan), Axalta Coating Systems. (United States), BASF SE (Germany), Kansai Paint Co. Ltd. (Japan), Asian Paints Ltd. (India), DuPont de Nemours, Inc. (United States) and Valspar Corporation (United States), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In 2021, Akzo Nobel N.V., Netherland based multinational that is the market leader in paints and coatings has announced that it has completed the acquisition of Industrias Titan S.A.U. or commonly known as Titanlux, a market leader in paints in Spain. AkzoNobel looks to expand its footprint and presence in Spain through this acquisition. With the enhanced focus on sustainability, AkzoNobel will focus on the water-based paints segment of Titanlux while using its supply chain and distributors across Spain.
In 2021, PPG Industries, Inc., a global market leader in paints and coatings has announced that it will acquire Finnish market leader in paints Tikkurila Oyj, for an amount of €1.52 billion. With the combined synergy, PPG looks to expand its lines decorative paints to Northern and Eastern Europe where PPG has minimal presence but Tikkurila remains a dominant player in the region. The deal is expected to benefit both the companies, expanding their supply chains, product chain, and customer base.Global Acrylic Latex is a fragmented market due to the presence of various players. The players are focusing on investing more in Launching Products. These will enhance their market presence. The companies are also planning strategic activities like partnerships, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge.
Influencing Trend:
Due to their Wash-Ability and Less VOC Content, they are High in Demand, as Recent Articles on Harmful Effects of VOC is Pushing People to More Breathable Paints Like Acrylic Latex
Market Growth Drivers:
Being a Water-Based Paint, it is More Environment Sustainable Compared to Oil-Based Paints which Release Hazardous Odour (Less VOC) and Requires Cleaning Solvents, Acrylic Latex Paints are Mostly Washable and Superior Adhesion Properties, which Makes it an Ideal Choice, With the Rapid Urbanization and Construction Activities which Follow After it, are the Reason for Massive Surge in Demand for Acrylic Latex Paints and Easy to Apply, Compared to Oil Paints
Challenges:
They are considered Not the Best of Choice to be applied on High Gloss Surfaces. and Because Acrylic Latex is a Water-Based Paint it can Cause Rust to the Unprimed (No Primer Applied) Steel or it can Damage the Wood on which it is Applied Unless No Primer is Applied on the Wood
Restraints:
Superior and Glossier Finish of Oil-Based Paints After it Dries Out May Attract Consumers Towards Oil Based Paints and Oil-Based Paints have Longer Shelf Life than Acrylic Latex Paints
Opportunities:
With the Increased Innovation, Latest Acrylic Latex Paints in the Market have Fine Gloss, Sometimes Better than Oil Paints Too. and With the People Becoming More Environment Conscious, they are Expected to Drive the Market Towards More Eco-Friendly Alternatives
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Vendors landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Acrylic Latex Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Acrylic Latex Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols: By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Acrylic Latex players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Acrylic Latex Study Sheds Light on
The Acrylic Latex Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Acrylic Latex industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Acrylic Latex industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.