The global acrylic surface coating market was estimated at $24,212.1 million in 2015, and it is expected to grow at a CAGR of 5.2% during 2016 – 2022. The factors driving the growth of the global market include green environment regulations, advancement in end-user industries and increasing demand for decorative paints. The growth of the global acrylic surface coatings market is largely driven by high demand from the end-use industries especially construction and automotive. The rapid development in emerging economies and increasing compliance for high-performance environment friendly surface coating have supported the increased demand of acrylic surface coating. The increasing investments for infrastructure development in developing economies are anticipated to create huge demand for acrylic surface coating during the forecast period.
Among the various applications, the construction segment held the largest share in the global acrylic surface coating market. Construction is one of the most dynamic industrial sectors, owing to the increasing urbanization. Therefore the segment is anticipated to retain its dominance throughout the forecast period.
In 2015, Asia-Pacific held the largest share in the global acrylic surface coating market with 42.9% share. The acrylic surface coating market in the region is anticipated to witness the highest growth at a CAGR of 6.7% during the forecast period. The major reasons behind the growth of the acrylic surface coating market in the region include increasing investment for infrastructure development, large consumer base, and increasing compliance for environment friendly coating.
Some of the major players operating in the global acrylic surface coating market include BASF 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.
News Courtesy: P&S Market Research