Non-Commercial Acrylic Paints Market to Witness a Healthy Growth during 2018-202

Posted by ankush Nikam on June 5th, 2019

US Non-Commercial Acrylic Paints Market: Key Research Findings

The US non-commercial acrylic paints market size in 2018Nearly US$ 230 Mn

The non-commercial acrylic paints market in the US is expected to observe a decent growth rate of 4.8% over 2018-2028.

Regulatory pressure is increasing, regarding the VOC content of acrylic paints -

• There is increasing pressure from regulatory authorities, such as the US Environmental Protection Agency (EPA) and Coatings and Consumer Products Group (CCPG) in particular, to reduce the volatile organic compound (VOC) content as well as lead content in all types of non-commercial acrylic paints.

• This regulation is intended to safeguard the health and safety of consumers as well as producers. Till date, this has resulted in the meagre use of conventional paints, with their use limited to a few states.

4. Southern US is projected to hold a relatively prominent share in the overall US non-commercial acrylic paints market.

• Owing to the emergence of a healthy amount of professional artists and academic institutions, where regional governments have encouraged the promotion and sales of artefacts, the market for non-commercial acrylic paints will reportedly witness high growth in Southern US.

• In the coming years, other regions in the country such as the Western and Midwest parts are expected to be key markets for sustainable value generation from the non-commercial acrylic paints market.

FMI expects the non-commercial acrylic paints market in the US to be a high-volume high-value market, unaffected by pricing volatility.

Top 3 Factors Shaping the US Non-Commercial Acrylic Paints Market

Increase in the Number of Artists and Students Across Different States in the US

In the past few years, the US has witnessed a significant rise in the number of artists and students. There has been a rise of ~5% of artists and students, cumulatively, in the previous few years, and the same roadmap is expected to continue in the coming decade.  

Students in high schools are showing inclination towards opting for arts & designing as part of their curriculum, creating huge a demand space for acrylic paints. Increasing number of competitions and exhibitions in the country molds and encourages young artists to participate, which has been driving a considerable number of youngsters toward aspiring career in painting.

Market Consolidation to Intensify Pricing Pressure on Manufacturers and Threat from Substitute Innovations

As the paints and coatings market in the North American region is moving towards consolidation, pricing pressure has started to build up, tightening the profit margin scope for manufacturers. In addition to this, raw materials, both, petroleum and non-petroleum based, account for a major share in the overall cost of sales for paints and coatings. The effects of volatile and fluctuating crude oil prices are also expected to get reflected on petroleum-based raw materials, all the more exaggerating the pricing burden on US non-commercial acrylic paints market players.

Also, new emerging technologies such as powder paints and nanotechnology hold the potential to replace existing products in the market, posing significant challenges to global manufacturers. Manufacturers also find it cost intensive to produce products in sync with government regulations, leading to decreased profitability.

DIY – A New Forerunner in the Decorative Acrylic Paints Industry

DIY (do-it-yourself) is emerging as a major trend in some states in the US, as it saves significant labor cost and gives customers an opportunity for creative painting on their own property. Application in new materials have provided impetus to the growth of the non-commercial acrylic paints market in the US.

The development of acrylic paints that can be used on multiple substrates, such as metals, glass, ceramics, woods, etc., with robust physical and chemical properties, providing consumers the freedom to use them as per their suitability, can provide significant opportunities for the growth of US non-commercial acrylic paints market players.

The report highlights some of the prominent companies that are operating in the US non-commercial acrylic paints market, such as Liquitex Artist Materials, Decoart Inc., Winsor & Newton, Reeves, Faber-Castell, Plaid, Crafts 4 All, Koninklijke Royal Talens B.V., Golden Artist Colors, Inc., Croma Atlier, M. Graham & Co., and PEBEO SAS.