Acrylic Protective Coating Market Analysis
The global acrylic protective coating market is likely to touch USD 23 billion at a healthy CAGR during forecast, according to the recent Market Research Future (MRFR) report. The acrylic coating is the covering applied on an object’s surface. Its purpose can be protectoral, functional, decorative, or all. The specialty of this coating is it helps in increasing the durability and life span of an object or the material. Marine, aerospace, automotive, industrial, building and construction, and others are some of its key applications.
Various factors are adding to the global acrylic protective coating market growth. Such factors, according to the new MRFR report, include rising government investments boosting the construction sector in different regions, increasing use for waterproofing and protective application, used for preventing building against dampness, damage, and corrosion, used as a protective layer for structures, and rising activities in civil construction.
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Key Players
Eminent players profiled in the global acrylic protective coating market report include B.M. REAL INTERNATIONAL (Romania), PPG Industries (U.S.), Dunn-Edwards Corporation (U.S.), The Valspar Corporation (U.S.), Wacker Chemie AG (Germany), RPM International Inc. (U.S.), Axalta Coating Systems (U.S.), HEMPEL A/S (Denmark), SIKA AG (Switzerland), Arkema SA (France), and others.
Covid-19 Analysis /Covid-19 Impact on Acrylic Protective Coating Market
The COVID-19 pandemic has also cast its shadow on the acrylic protective coating market too. Europe’s coating sector in late March faced a deep recession due to the impact of the lockdown to control the novel coronavirus. As a result, the demand for acrylic protective coatings collapsed in most areas and appeared unlikely to be revived till the government lifted the restricted policies to enable the economies of the countries to return to some normality. The coatings & other manufacturing sectors amidst the gloom have room for optimism concerning forthcoming economic trends. Besides, the sharp decline in the price of oil due to the pandemic has led to the fall in price of raw materials that are petrochemical-based. Russia, the biggest market in Europe, is likely to take a minimal hit, providing the businesses operating within the country with a sigh of relief. The GCC region will observe low investments owing to the sliding costs of crude oil.
Market Segmentation
The MRFR report provides an inclusive segmental analysis of the global acrylic protective coating market report based on end use and type.
By type, the global acrylic protective coating market is segmented into waterborne thermosetting enables, thermosetting acrylic coating, and thermoplastic waterborne acrylic latex.
By end use industry, the global acrylic protective coating market is segmented into marine, aerospace, automotive, industrial, building and construction, and others.
Regional Analysis
Based on the region, the globalAcrylic Protective Coating Market report covers the recent trends & growth opportunities across the Americas, Europe, the Asia Pacific (APAC), Latin America, & the Middle East & Africa (MEA). Among these, the APAC region will spearhead the market over the forecast period for the growing industrialization coupled with increasing allocation of government funds in marine and infrastructure. China, Japan, and India are the chief contributors in the region for the rising private and public investment in leading end use industries of acrylic protective coating.
The global acrylic protective coating market in North America is predicted to hold the second-largest share over the forecast period. The US is the chief contributor in the region for its increasing use in aerospace, automotive, and reconstruction sectors.
The global acrylic protective coating market in Europe is predicted to have healthy growth over the forecast period for its increasing use in industrial and automotive applications. Belgium, Italy, Germany, France, and the UK, are the chief contributors in the region.
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The global acrylic protective coating market in Latin America is predicted to have healthy growth over the forecast period for the pacifying political and economic scenario. Argentina and Brazil are the chief contributors in the region.
The global acrylic protective coating market in the MEA is predicted to have remarkable growth over the forecast period. The burgeoning demand from the building & construction industry is adding market growth.
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