Global Aerosol Paints Market Price, Size, Trends, Segmentation and Outlook 2023-2028
The latest report from Expert Market Research, titled ‘Global Aerosol Paints Market Price, Trends, Growth, Analysis, Outlook, and Forecast 2023-2028′, provides an in-depth examination of the global aerosol paints market. The report evaluates this market based on its segments, including source, product, industry, and major regions. It tracks the industry’s latest trends and their impact on the overall market while also delving into market dynamics through key demand and price indicators. Additionally, the report analyzes the market using the SWOT and Porter’s Five Forces models.
Key Report Highlights
Market Overview (2018-2028)
Projected CAGR (2023-2028): 5.0%
The global aerosol paints market is poised for substantial growth, driven by factors such as increasing urbanization, rising disposable incomes, and rapid infrastructural developments in emerging economies. The thriving automotive sector, with its heightened demand for automotive refinishing applications, also contributes to the market’s expansion. Furthermore, the introduction of Environmental Protection Agency (EPA) approved aerosol products is expected to bolster market growth. Nevertheless, the presence of substitutes and high product costs may pose challenges. Manufacturers can capitalize on this by focusing on new product development and research and development (R&D) to gain market share. Consequently, companies are increasingly emphasizing the development of sustainable technologies to enhance their market presence.
Aerosol Paints Industry Definition and Major Segments
Aerosol paints, often referred to as spray paints, come in sealed pressurized containers and are dispensed as a spray when the valve is activated. Unlike traditional brush or roller paints, aerosol paints provide a smooth, even coat on surfaces. They are available in standard-sized cans, making them convenient, easily stored, and cost-effective. Aerosol paints are widely used in the automotive industry for finishing, repairing, and reconditioning automotive components.
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Based on technology, the market is divided into:
Water-borne
Solvent-borne
Based on resin, the industry segments include:
Acrylic
Epoxy
Polyurethane
Alkyd
Others
End-use categories comprise:
Automotive
Construction
Wooden Furniture
Others
Regionally, the industry is categorized into:
North America
Europe
Asia Pacific
Latin America
Middle East and Africa
Aerosol Paints Market Trends
Aerosol paints have diverse applications in architectural coatings, including interior and exterior paints, primers, sealants, stains, and varnishes. They offer distinct cost and visual advantages over conventional paints, especially for small-scale projects. The construction industry plays a pivotal role in driving the aerosol paint market, with the automotive industry also showing increased demand due to rising consumer interest in automobiles worldwide. In the automotive sector, aerosol paints are used both in manufacturing and post-sales refinishing. They are an ideal solution for touch-ups, reconditioning, and repairs of various vehicle parts. Furthermore, the influence of the internet and social media has led to increased DIY usage of aerosol paints for household applications such as wall painting, vehicle refinishing and customization, exterior and interior refurbishment, graffiti, and hobby art.
The Asia Pacific and North America are the largest aerosol paint markets, primarily due to robust residential construction growth. The Asia Pacific region, in particular, is expected to maintain its strong growth trajectory due to increasing end-use industries, population growth, rising disposable incomes, and urbanization in developing nations like China, India, the Philippines, Vietnam, and Indonesia. Many economies in the Asia Pacific and the Middle East are witnessing significant investments in industrial units, hospitals, multiplexes, malls, hotels, and the IT sector, which is expected to further drive the aerosol paints market.
While the market for solvent-based aerosol paints, especially in Europe and North America, may face challenges due to stringent environmental regulations, the demand for water-based paints is projected to rise, particularly in regions with a focus on green building initiatives.
Key Market Players
Major market players include Nippon Paint Holdings Group, Aeroaids Corporation, Krylon Products Group, RPM International Inc., and PPG Industries, Inc., among others. The report covers aspects such as market shares, capacities, plant expansions, investments, mergers, acquisitions, and other recent developments by these key players.
FAQs
1. Are aerosol paints environmentally friendly?
Many manufacturers are developing low-VOC and eco-friendly aerosol paints to mitigate environmental concerns.
2. What industries rely heavily on aerosol paints?
The automotive, construction, arts and crafts, industrial, and marine sectors are major consumers of aerosol paints.
3. Are there innovations in aerosol paints?
Yes, innovations include smart aerosol paints, digital customization, and high-temperature formulations.
4. What is the growth projection for the aerosol paints market by 2028?
The market is projected to reach with a CAGR 2023-2028 of approximately 5%.
5. Who are the key players in the aerosol paints market?
Nippon Paint Holdings Group, Aeroaids Corporation, Krylon Products Group, RPM International Inc., PPG Industries, Inc., Others.
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