Acrylic Paints Market is Poised for Robust Growth due to Increasing Popularity of Art and Craft Hobbies

Acrylic Paints Market

Acrylic paints are synthetic polymer emulsions that are made up of pigments and acrylic polymer emulsion in water. Acrylic paints are water-soluble, fast-drying, give a matte finish and require no priming or additional paint media. They offer advantages such as thick opaque coverage, resistance to cracking and peeling, ability to be thinned with water and cleaned up with soap and water for brushes and other painting tools. The increasing popularity of art and craft hobbies among various age groups have fuelled the demand for acrylic paints.

The Global acrylic paints market is estimated to be valued at US$ 334.38 Mn in 2024 and is expected to exhibit a CAGR of 6.4% over the forecast period 2024 to 2031.

Key Takeaways

Key players operating in the acrylic paints market are The Kraft Heinz Company, Fonterra Co-operative Group Limited, Groupe Lactalis S.A., Grande Cheese Company, Arla Foods Inc., BelGioioso Cheese Inc., Granarolo S.p.A, Saputo Cheese USA Inc., Sargento Foods Inc., and Organic Valley.

Key opportunities in the Acrylic Paints Market Demand include growth in Do-It-Yourself projects and art and craft hobbies. Increasing online sales and availability of wide range of colors and finishes is also boosting the acrylic paints market.

Globally the acrylic paints market is expanding rapidly driven by growth in Asia Pacific region. China India and other Southeast Asian countries are expected to offer significant growth opportunities owing to increasing disposable incomes. North America and Europe are also likely to grow albeit at a moderate pace over the forecast period.

Market Drivers

The increasing popularity of art and craft hobbies such as painting, sketching, knitting, embroidery among various age groups is one of the key driver fostering the growth of the acrylic paints market. People are more inclined towards DIY home décor and upcycling projects which involves use of acrylic paints. This in turn aids the market growth of acrylic paints.

PEST Analysis

Political: The global paints and coatings industry is regulated by several governmental agencies aimed at protecting the environment and public health. Regulations regarding VOC emissions and use of hazardous chemicals will influence formulations.

Economic: Factors such as global GDP growth, construction industry trends, and consumer spending impact demand cycles for the acrylic paints market. Fluctuations in crude oil prices directly impact raw material prices.

Social: Growing awareness of sustainability and indoor air quality has boosted demand forzero/low VOCacrylic paints.Do-it-yourself home improvement trend favors acrylic enamel and latex paints.

Technological: Advances in pigment and binder technologies help reduce environmental footprint while enhancing performance properties such as durability, appearance retention, and application ease. Water-based acrylic emulsion systems are increasingly replacing solvent-borne products.

The acrylic paints market in terms of value is majorly concentrated in Asia Pacific and North America regions. Asia Pacific accounts for the largest share owing to presence of countries like China and India having huge construction industries. North America is another substantial regional market led by the US.

The acrylic paints market in Latin America region is poised to witness the fastest value growth during the forecast period. Factors such as ongoing infrastructure development projects, growing disposable incomes, and expansion of the construction industry are projected to support strong demand for acrylic paints in Latin American countries like Brazil and Mexico.

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