Acrylic Powder Coating Market Report 2024

This Acrylic Powder Coating market report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.

The acrylic powder coating market size has grown strongly in recent years. It will grow from $1.45 billion in 2023 to $1.53 billion in 2024 at a compound annual growth rate (CAGR) of 5.7%. The growth during the historic period can be attributed to the rising use of acrylic powder coatings in electronics, the increasing demand for aesthetic enhancements, the expansion of the construction industry, the growing development of distribution channels, and the heightened demand from the cosmetics and beauty sector.

The acrylic powder coating market size is expected to see strong growth in the next few years. It will grow to $1.93 billion in 2028 at a compound annual growth rate (CAGR) of 6%. The projected growth during the forecast period can be attributed to the increasing adoption of acrylic powder coatings in the automotive industry, the rising popularity of nail products, ongoing industrialization, expanding applications in the furniture sector, and environmental regulations that support the use of powder coatings. Key trends anticipated during this period include advancements in technology, versatility in applications, the development of functional coatings, applications at high temperatures, and a focus on sustainable solutions.

The expanding automotive industry is anticipated to drive the growth of the acrylic powder coating market in the future. The automotive sector involves the design, development, manufacturing, marketing, and sale of motor vehicles, including cars, trucks, motorcycles, and their parts and accessories. This industry is experiencing growth due to the rising global demand for electric vehicles, advancements in autonomous driving technologies, and increasing consumer preferences for mobility solutions and smart transportation systems. Acrylic powder coating is utilized in the automotive industry to deliver durable, weather-resistant, and UV-stable finishes that protect vehicle surfaces from corrosion, scratches, and environmental wear while enhancing their aesthetic appeal. For example, in September 2024, the Office for National Statistics, a UK government department, reported that the manufacturing sector for motor vehicles increased by $12.8 billion (£9.6 billion), representing a 22% rise, bringing the total to $71 billion (£53.3 billion) in 2023. Consequently, the growing adoption of acrylic powder coatings in the automotive sector is propelling market growth.

Leading companies in the acrylic powder coating market are focusing on developing advanced products, such as acrylic coating systems, to achieve a smooth, high-gloss finish. These systems, made from acrylic resins, act as protective layers that offer durable, weather-resistant, and UV-stable finishes for various surfaces, enhancing their appearance while protecting them from environmental damage. For instance, in July 2024, Akzo Nobel N.V., a Netherlands-based paints and coatings firm, introduced the Selva Pro range of 2K polyurethane and acrylic coating systems. This range includes three systems, the Selva Pro Chiaro and Selva Pro Bianco polyurethane systems, as well as the Selva Pro Acrilico acrylic system. Selva Pro Acrilico features a smooth formulation that highlights the natural beauty of wood grain, making it ideal for high-quality and expressive wood types. It offers multiple finish options, including a pigmented topcoat, a neutral topcoat, a clear topcoat, and a clear ‘Naturale’ topcoat with a contemporary dead flat finish that aligns with current design trends. Similar to Selva Pro Bianco, the Acrilico neutral topcoat provides excellent tinting stability when mixed with a neutral base.

In February 2023, Kansai Helios, an Austria-based chemical manufacturing company, acquired CWS Lackfabrik GmbH for an undisclosed amount. This acquisition enhances Kansai Helios' capabilities in powder coatings and synthetic resins, solidifying its position as a comprehensive systems supplier. Furthermore, Kansai Helios intends to enhance its competitiveness and expand its market share in the industrial coatings sector by integrating CWS's expertise. CWS Lackfabrik GmbH is a German chemical manufacturing company that specializes in acrylic powder coatings and synthetic resins.

Major companies operating in the acrylic powder coating market are BASF SE, Covestro AG, PPG Industries Inc., Evonik Industries AG, Akzo Nobel N.V., Nippon Paint, DIC Corporation, KCC Corporation, Axalta Coating Systems, Asian Paints Limited, Kansai Paint, Jotun AS, Tiger Coatings, IFS Coatings, Anderson Development Company, Tamiras, ABITL Finishing Inc., Hosokawa Alpine AG, Vijay Coat Powder Coatings, Primco Paints.

Asia-Pacific was the largest region in the acrylic powder coating market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the acrylic powder coating marker report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the acrylic powder coating marker report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Acrylic powder coating is a type of finish applied as a dry powder and then cured with heat to create a durable, protective layer. Known for its aesthetic qualities, durability, and eco-friendliness, it is widely used for both protective and decorative purposes in various industries.

The main categories of acrylic powder coatings are thermoplastic and thermosetting. Thermoplastic acrylic powder coatings are heat-sensitive, made from acrylic resins that soften and melt when exposed to heat, creating a durable, high-gloss finish that can be reshaped or remelted. These coatings offer excellent weather resistance and surface protection. They are applied using techniques such as electrostatic spray, fluidized bed, and electrostatic fluidized bed, with finishes available in glossy, semi-glossy, matte, metallic, and textured formulations. These coatings offer different levels of chemical resistance - high, medium, or low - and are used in industries such as automotive, construction, appliances, furniture, and aerospace.

The acrylic powder coating market research report is one of a series of new reports that provides acrylic powder coating market statistics, including acrylic powder coating industry global market size, regional shares, competitors with a acrylic powder coating market share, detailed acrylic powder coating market segments, market trends and opportunities, and any further data you may need to thrive in the acrylic powder coating industry. This acrylic powder coating market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The acrylic powder coating market consists of sales of UV-resistant acrylic coatings, clear acrylic powder coatings, anti-graffiti acrylic coatings and heat-resistant acrylic coatings. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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