Global Acrylic Surface Coating Market 2019-2023 | 6% CAGR Projection Over the Next Five Years | TechnavioThe Associated Press
LONDON--(BUSINESS WIRE)--Apr 15, 2019--The global acrylic surface coating market 2019-2023 is expected to post a CAGR of more than 6% during the forecast period, according to the latest market research report by Technavio.
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Technavio has published a new market research report on the global acrylic surface coating market from 2019-2023. (Graphic: Business Wire)
The increasing global population is fueling the growth of housing and other infrastructure. Further to this, the rapid urbanization and increasing investments in infrastructure development are supporting the growth of the construction industry in developing countries. The highly durable and reflective characteristics of acrylic coatings are quite useful in the construction industry. These coatings find a wide range of applications in the industry, as the strong reflectivity of acrylic coating helps in lowering the temperature inside buildings thus, reducing the burder on air-conditioning systems. Therefore, the growth of the real estate and construction industry will positively drive the growth of the acrylic surface coating market.
As per Technavio, the implementation of solar reflective coatings will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global acrylic surface coating market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global acrylic surface coating market: implementation of solar reflective coatings
Many manufacturers are focusing on the use of solar reflective coatings to reduce the heat island effect in buildings. The long lifespan and high-solar-radiation reflective properties of acrylic surface coatings are increasing their use in solar reflective coatings. The acrylic-based solar reflective coatings help to keep the buildings cooler and thus lower the energy consumption without compromising on durability. This growing trend of using acrylic-based solar reflective coatings is expected to boost the growth of the global acrylic surface market.
“The market is expected to grow significantly in the US due to the increase in investments in the construction sector strong demand from the automotive industry in North America. In addition, the increasing foreign direct investments especially in India, are fueling the growth of construction activities. Thus, the rise in infrastructure development projects among many such developing countries in the APAC region will drive the demand for acrylic surface coatings”, says an analyst at Technavio.
Global acrylic surface coating market: segmentation analysis
This market report segments the global acrylic surface coating market by technology (waterborne coatings, solvent-borne coatings, powder coatings, and others) and geography (APAC, Europe, MEA, North America, and South America).
The APAC region led the market in 2018, followed by North America, Europe, South America, and MEA. The dominance of APAC can be attributed to the concerted efforts to promote the infrastructure and residential sector in the region.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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