The Global Aerosol Paints Market- Growth, COVID-19 impact and Forecast (2021-2025)
The Aerosol Paints market is segmented by Product type (Solvent-based and Water-based); Application (Construction, Automotive, Do-it-yourself, Wood Furniture and Others); Geography (North America, Europe, APAC and ROW).
Introduction
Aerosol paint, commonly called spray paint. It is a type of paint that comes in a sealed pressurized container and is released in an aerosol spray when depressing a valve button. A form of spray paint, aerosol paint leaves a smooth, evenly coated surface, unlike many traditional rolled or brushed paints.
Aerosol paints are widely used in the automotive industry as they are easy-to-use, and fast drying paints. Aerosol paints provide finishing touches, repairs, and reconditioning automotive components, such as a motorcycle or car parts.
Despite the current pandemic situation, the end-users of this market is recovering to operate in full capacities from 2021 beginning. Along with this, the recovering manufacturing activities across the globe are expected to mitigate to numerous potential negative impacts caused during COVID-19 and maximize their opportunities in future.
Table of Contents
Market Overview
The Global aerosol paints market is expected to grow to $303.80 million by 2025.
Growth momentum is expected to accelerate during the forecast period with 5.72% CAGR.
The rising product application in the automotive and construction industries for protection and aesthetic purposes is projected to drive the market growth.
Asia Pacific region is the fastest-growing market of due to high demand from various industries
Key Trends
Green building initiatives across various regions, especially in Europe, are anticipated to propel the demand for water-based paints in the coming years.
Various research and development activities for development of new technologies such as nano-technology in aerosol paints is also propelling growth of the market.
The growing importance of aesthetics in the homecare industry industry is also supporting the growth of the market.
Key Market Players
Some of the key players in the market are Nippon Paint Holdings, Masco, Dupli-Color Products Company, LA-CO Industries, Krylon Products Group, Montana Colors.
The key players are dominating the market by adopting modern and innovative technologies to customize the product, enhance its properties, and differentiate the final product from its competitors.
Companies are also adopting certain strategic initiatives, M&A activities to increase their production capacity and to enhance their product portfolio to cater to the growing demand, particularly in the developing regions.
Growth Drivers and Challenges
The rising investment in various construction and infrastructure projects across the globe is driving the market. Global construction industry is growing at a faster pace with a major contribution from emerging countries. The revenue is expected to reach approximately $14.98 trillion by 2025.
Increasing demand for automobile coatings using aerosol paints is believed to play a critical role in shaping growth positively.
Stringent VOC emission laws is expected to hinder the growth of the market
Volatile costs of raw materials are also projected to present a challenge to productivity in the sector
The high cost of the products and the availability of substitute products in the market are the major factors restraining market growth
Brexit to Negatively Impact the Automotive and Construction Industries in Europe