Acrylic Surface Coatings Market–Market Overview
The Global Acrylic Surface Coatings Market is projected to expand at a healthy CAGR of 10% to attain the value of USD 25 till 2023. The major factors favoring growth of the market are the growing demand for the product due to rising consumer sentiments in favor of protecting their devices and equipment from damage caused by thermal, corrosive and impact action. The acrylic coating accounts for approximately 25% share of the Global Paints and Coatings Market with its share continuously rising over the last decade, which is likely to propel growth of the market during the study period. Scope of the applications in the global protective market is continuously increasing with the flourishing end use industries such as automotive, aerospace, and construction. Growing need of the protective coatings in numerous industrial uses such as coating on tools, equipment, and end decorative is projected to be the major demand driver in the market.
However the market exhibit some bottlenecks which are needed to be considered, including the stringent regulatory measure put into effect by mature western economies, regarding VOC emissions and the rising costs of raw materials.
Acrylic Surface Coatings Market- Competitive Landscape
The Global Acrylic Surface Coatings is a highly mature market, which is majorly driven by the rapid growth in the building & construction industry, along with the growing transportation sector on the backdrop of rising global trade. The market accommodate significant number of major players, yet the market share is dominated by the leading five companies namely, Axalta Coating Systems, PPG Industries, RPM International Inc., and The Valspar Corporation are the substantial manufacturers in this market. Most of these companies are primarily adopting the business tactics such as capacity expansion, product launch, and launch of new facility to further strengthen their market position and earn sizeable revenue.
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Industry/ Innovation/ Related News:
October 16, 2017- The U.S. based global manufacturer and supplier of innovative coatings materials Axalta Coating Systems, has increased the scope of its industrial coatings product called Tufcote in line with the Tufcote Hydro 2.1 HG and Tufcote Hydro LV HG waterborne acrylic products. These new waterborne coatings product market is formulated to serve the vast demand for industrial products and can also be used on metal, wood, and plastic surfaces, which is likely to widen the application scope of the product to gain sizeable revenue in coming years.
October 17, 2017- The Coil and Extrusion Coatings division of Sherwin-Williams, the U.S. based company which engages in development and sell of building materials, has launched a product called Valspar Acrylicoat. This new product is a coating and resin system, which confers a smooth, glass-like finish and hard surface on the extruded aluminum architectural products. Acrylicoat is primarily manufactures to serve high-traffic residential and industrial areas, and it is ideal for the door frames, column covers, windows, metal panels and other aluminum extrusions in both exterior and interior environments.
July 21, 2017- RPM International Inc. has announced that it has acquired Key Resin Company, a manufacturer of polymer flooring and coating systems. The Key Resin Company will operate as one of RPM’s Euclid Group of companies. Headquartered in Batavia, Ohio. The company has annual net sales of approximately $25 million. It sells directly to contractors and facility owners, enabling Key Resin to provide highly insightful and responsive customer service and technical support.
June, 2017- One of the India’s leading paints and coatings manufacturer, Berger Paints Ltd. has recently acquired the specialty coatings manufacturer Saboo Coatings Pvt. Ltd. According to the terms of an agreement the deal was closed at USD 12.24 USD. The acquisition of Saboo Coatings, which engages in manufacturing specialty liquid coatings to serve agricultural and construction equipment, automobiles, electronics, handicrafts and home furnishing, is expected boost the consumer and in turn revenue for the Berger Paints.
Dec. 21, 2016- RPM International Inc. has acquired SPS Group (SPS), a Dutch decorative and specialty coatings company having annual net sales of approximately $60 million. The company is near Amsterdam, the Netherlands. The SPS now operates as part of RPM’s Rust-Oleum European business. This is likely to provide boost to the production capacity and sale of RPM coating products in Western Europe region.
July 25, 2016-PPG Industries, Inc. has introduced AQUACRON® 200 Series coating, a waterborne acrylic urethane. The product line is dedicated to an exterior of building products that offers robust protection for wood, fiber glass, plastic, vinyl and composite substrates. The coating also can be formulated with heat-reflective pigments to enhance the durability and appearance of heat-sensitive substrates such as vinyl and polyvinyl chloride (PVC). The development may propel growth in demand for the product in construction sector.
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