Global Acrylic Surface Coating Market 2019-2023 | 6% CAGR Projection Through 202
Posted by Loise Williams on December 16th, 2019
The global acrylic surface coating market is expected to post a CAGR of more than 6% during the period 2019-2023, according to the latest market research report by Technavio.
Factors such as rapid urbanization and rising investments in infrastructure development have fostered the growth of the real estate and construction industry in emerging economies. This has led to the proliferation of office spaces, commercial complexes, and residential buildings. Acrylic surface coatings are widely used in both interior and exterior finishing applications due to their cost effectiveness, high durability, and strong reflectivity, which lowers the temperature inside buildings and reduces energy consumption. Therefore, the growth of the real estate and construction industry will positively impact the demand for acrylic surface coatings during the forecast period.
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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 research report also analyzes other significant trends and market drivers that will affect market growth over 2019-2023.
Global Acrylic Surface Coating Market: Implementation of Solar Reflective Coatings
End-users such as building owners are increasingly adopting solar reflective coatings to mitigate the heat island effect caused by infrared rays. Solar reflective coatings keep the interiors of the building cooler by reducing ambient air temperature. This enables building owners to reduce air-conditioning costs significantly. Acrylic coatings are widely being used as solar reflective coatings due to their high solar radiation reflective properties. Therefore, the increasing implementation of solar reflective coatings is expected to boost the growth of the global acrylic surface coating market during the forecast period.
“Increasing focus on bio-based and eco-friendly products and adoption of UV-curable coatings will further boost market growth during the forecast period,” says a senior 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, respectively. During the forecast period, the APAC region is expected to maintain its dominance over the market. This is due to the growing number of infrastructure-development and construction projects in India, China, Japan, Singapore, Thailand, Indonesia, and the Philippines.
Some of the key topics covered in the report include:
Five Forces Analysis
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About the AuthorLoise Williams
Joined: August 7th, 2019
Articles Posted: 266
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