Aerosol Paints Market
Aerosol Paints Market Forecasts to 2030 - Global Analysis By Can Type (Steel, Plastic and Other Can Types), Raw Material (Acrylic, Alkyd and Other Raw Materials), Technology, Application, End User and By Geography
|
Years Covered |
2021-2030 |
|
Estimated Year Value (2023) |
US $229.29 MN |
|
Projected Year Value (2030) |
US $387.90 MN |
|
CAGR (2023 - 2030) |
7.8% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
North America |
|
Highest Growing Market |
Asia Pacific |
According to Stratistics MRC, the Global Aerosol Paints Market is accounted for $229.29 million in 2023 and is expected to reach $387.90 million by 2030 growing at a CAGR of 7.8% during the forecast period. Aerosol paints are pressurized containers that dispense liquid paint as a fine mist when activated. Comprising pigments, binders, and solvents, these paints offer a convenient and efficient method for applying coatings to various surfaces. The pressurized canisters propel the paint particles evenly, ensuring uniform coverage and smooth finishes.
According to the US Census Bureau, in February 2022, the construction spending in the country was an adjusted annual rate of USD 1,704.4 billion, 0.5% more than the revised January estimate of USD 1,695.5 billion.
Market Dynamics:
Driver:
Versatility and application range
The versatility and application range of the aerosol paints market stem from the diverse uses and adaptability of aerosol paint products. These paints are formulated to be applicable across various surfaces, including metal, wood, plastic, and more, making them versatile for a wide range of projects. Their ease of use and convenient application method, through aerosol spray cans, further enhance their appeal for both DIY enthusiasts and professional painters. This flexibility contributes to the expanding application range of aerosol paints, encompassing automotive refinishing, home décor, industrial coatings, and artistic endeavors, thus driving growth and demand within the market.
Restraint:
Environmental regulations
Environmental regulations pose major restraints on the aerosol paints market, demanding adherence to strict guidelines for emissions and chemical composition. Restrictions on volatile organic compounds (VOCs) content in aerosol paints are particularly stringent, aiming to mitigate air pollution and minimize health risks. Limitations on hazardous substances, such as lead and heavy metals further challenge manufacturers to develop eco-friendly formulations. As governments worldwide intensify efforts to combat climate change and promote sustainable practices, aerosol paint producers face increasing pressure to align with environmental standards, impacting both production processes and product formulations.
Opportunity:
Particularization and tailoring
Customization presents a significant opportunity as manufacturers can tailor formulations to meet specific customer needs, such as color preferences, surface requirements, and application methods. This allows for a diverse range of products catering to various industries, from automotive to industrial coatings. Specialization is key, with opportunities arising in niche markets like eco-friendly formulations, high-performance coatings, or unique finishes. By focusing on specialized segments, companies can differentiate themselves and tap into specific customer demands, thereby expanding their market presence.
Threat:
Substitute products
The substitute product threat in the aerosol paint market arises from alternative coating solutions that offer comparable or superior benefits. This may include traditional brush-applied paints, roll-on coatings, or emerging environmentally friendly alternatives. Customers may switch to these substitutes if they perceive better performance, lower costs, or reduced environmental impact. The threat intensifies with advancements in technology and increasing consumer awareness of eco-friendly options.
Covid-19 Impact:
With lockdowns and disruptions in supply chains, the production and distribution of aerosol paints faced challenges. Decreased consumer spending on non-essential items during economic uncertainties also led to a decline in demand. However, the increased focus on home improvement projects during lockdowns provided a partial offset as consumers turned to DIY activities. Additionally, the industry has adapted to changing consumer preferences, emphasizing eco-friendly and health-conscious formulations. Overall, the aerosol paints market continues to navigate through pandemic-related challenges while adjusting to evolving market dynamics.
The solvent based segment is expected to be the largest during the forecast period
The solvent based segment in the aerosol paints market has experienced exponential growth due to its advantageous properties. Solvent-based aerosol paints offer quick drying times, superior adhesion, and a durable finish, making them popular for various applications. Industries such as automotive, furniture, and industrial coatings prefer solvent-based formulations for their robust performance and versatility. These paints often exhibit excellent resistance to weathering and chemicals, contributing to their increased adoption. Furthermore, the market growth can be attributed to the demand for high-performance coatings and the versatility offered across different substrates and surfaces.
The architectural coatings segment is expected to have the highest CAGR during the forecast period
The Architectural Coatings segment in the aerosol paints market has experienced significant growth due to rising consumer demand for convenient and user-friendly painting solutions. With a focus on ease of application and versatility, aerosol paints have gained popularity in the architectural sector for tasks such as touch-ups, small projects, and intricate detailing. The segment's expansion is also fuelled by technological advancements, leading to improved formulations that offer durability, colour retention, and environmental sustainability.
Region with largest share:
The North American region has witnessed substantial growth in the aerosol paints market, driven by increasing demand across various industries. The construction and automotive sectors have been key contributors, with rising construction activities and a growing automotive aftermarket. Technological advancements in aerosol paint formulations, emphasizing eco-friendly and low-VOC options, have also played a pivotal role in the region's market growth. Furthermore, the robust distribution network and strategic collaborations among key market players contribute to the flourishing aerosol paint market in North America.
Region with highest CAGR:
The Asia-Pacific region has witnessed significant growth in the aerosol paint market, driven by increasing urbanization, rising disposable incomes, and a booming construction sector. The demand for convenient and efficient paint application methods has fueled the adoption of aerosol paints across various industries. A growing awareness of eco-friendly formulations and a surge in DIY activities have contributed to the market expansion. Key players in the region are focusing on product innovation and strategic collaborations to capitalize on the burgeoning opportunities in this dynamic market. The increasing emphasis on aesthetics and home decor trends is expected to sustain the robust growth of the aerosol paint market in the Asia-Pacific region.
Key players in the market
Some of the key players in Aerosol Paints market include Aeroaids Corporation , AVT Paints Pty Ltd , Dupli Color, Kobra Paint, Krylon Products Group, Masco Corporation, Masterchem Industries LLC, Molotow, Montana Colors S.L., Nippon Paint Holdings Co., Ltd., Plutonium Paint, PPG Industries, Inc., Rust-Oleum, Samurai Paint, Southfield Paints Limited and Valspar.
Key Developments:
In December 2023, Nippon Paint, the leading paint and coatings company in Asia announced the 100% acquisition of VIBGYOR Paints and Chemicals Pondicherry, a major supplier of paints and coatings in South India. Through the strategic acquisition, Nippon Paint will gain a strong foothold in the growing industrial coatings portfolio especially focusing on Indian Railways After this acquisition, VIBGYOR Paints and Chemicals will become a division of Nippon Paint India, leveraging its resources and reach to further its growth and market leadership.
In November 2023, The Montana Group announced its entry into the lifestyle retail sector with the inauguration of its flagship store, Brands Unlimited, in Noida, India. Brands Unlimited aims to redefine the retail experience by offering an unparalleled selection of luxury brands and products, encompassing a diverse range of premium sportswear, fashion, and accessories under one roof, according to the company's statement.
Can Types Covered:
• Steel
• Plastic
• Aluminum
• Other Can Types
Raw Materials Covered:
• Acrylic
• Alkyd
• Polyurethane
• Metal/Metal filled
• Epoxy
• Vinyl
• Silicone
• Other Raw Materials
Technologies Covered:
• Water Based
• Solvent Based
• Other Technologies
Applications Covered:
• Industrial Coatings
• Speciality Coatings
• Architectural Coatings
• Other Applications
End Users Covered:
• Wood and Furniture Industry
• Construction Industry
• Toys Industry
• Packaging Industry
• Automotive Industry
• Household Industry
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Application Analysis
3.7 End User Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Aerosal Paints Market, By Can Type
5.1 Introduction
5.2 Steel
5.3 Plastic
5.4 Aluminum
5.5 Other Can Types
6 Global Aerosal Paints Market, By Raw Material
6.1 Introduction
6.2 Acrylic
6.3 Alkyd
6.4 Polyurethane
6.5 Metal/Metal filled
6.6 Epoxy
6.7 Vinyl
6.8 Silicone
6.9 Other Raw Materials
7 Global Aerosal Paints Market, By Technology
7.1 Introduction
7.2 Water Based
7.3 Solvent Based
7.4 Other Technologies
8 Global Aerosal Paints Market, By Application
8.1 Introduction
8.2 Industrial Coatings
8.3 Speciality Coatings
8.4 Architectural Coatings
8.5 Other Applications
9 Global Aerosal Paints Market, By End User
9.1 Introduction
9.2 Wood and Furniture Industry
9.3 Construction Industry
9.4 Toys Industry
9.5 Packaging Industry
9.6 Automotive Industry
9.7 Household Industry
9.8 Other End Users
10 Global Aerosal Paints Market, By Geography
10.1 Introduction
10.2 North America
10.2.1 US
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 UK
10.3.3 Italy
10.3.4 France
10.3.5 Spain
10.3.6 Rest of Europe
10.4 Asia Pacific
10.4.1 Japan
10.4.2 China
10.4.3 India
10.4.4 Australia
10.4.5 New Zealand
10.4.6 South Korea
10.4.7 Rest of Asia Pacific
10.5 South America
10.5.1 Argentina
10.5.2 Brazil
10.5.3 Chile
10.5.4 Rest of South America
10.6 Middle East & Africa
10.6.1 Saudi Arabia
10.6.2 UAE
10.6.3 Qatar
10.6.4 South Africa
10.6.5 Rest of Middle East & Africa
11 Key Developments
11.1 Agreements, Partnerships, Collaborations and Joint Ventures
11.2 Acquisitions & Mergers
11.3 New Product Launch
11.4 Expansions
11.5 Other Key Strategies
12 Company Profiling
12.1 Aeroaids Corporation
12.2 AVT Paints Pty Ltd
12.3 Dupli Color
12.4 Kobra Paint
12.5 Krylon Products Group
12.6 Masco Corporation
12.7 Masterchem Industries LLC
12.8 Molotow
12.9 Montana Colors S.L.
12.10 Nippon Paint Holdings Co., Ltd.
12.11 Plutonium Paint
12.12 PPG Industries, Inc.
12.13 Rust-Oleum
12.14 Samurai Paint
12.15 Southfield Paints Limited
12.16 Valspar
List of Tables
1 Global Aerosal Paints Market Outlook, By Region (2021-2030) ($MN)
2 Global Aerosal Paints Market Outlook, By Can Type (2021-2030) ($MN)
3 Global Aerosal Paints Market Outlook, By Steel (2021-2030) ($MN)
4 Global Aerosal Paints Market Outlook, By Plastic (2021-2030) ($MN)
5 Global Aerosal Paints Market Outlook, By Aluminum (2021-2030) ($MN)
6 Global Aerosal Paints Market Outlook, By Other Can Types (2021-2030) ($MN)
7 Global Aerosal Paints Market Outlook, By Raw material (2021-2030) ($MN)
8 Global Aerosal Paints Market Outlook, By Acrylic (2021-2030) ($MN)
9 Global Aerosal Paints Market Outlook, By Alkyd (2021-2030) ($MN)
10 Global Aerosal Paints Market Outlook, By Polyurethane (2021-2030) ($MN)
11 Global Aerosal Paints Market Outlook, By Metal/Metal filled (2021-2030) ($MN)
12 Global Aerosal Paints Market Outlook, By Epoxy (2021-2030) ($MN)
13 Global Aerosal Paints Market Outlook, By Vinyl (2021-2030) ($MN)
14 Global Aerosal Paints Market Outlook, By Silicone (2021-2030) ($MN)
15 Global Aerosal Paints Market Outlook, By Other Raw Materials (2021-2030) ($MN)
16 Global Aerosal Paints Market Outlook, By Technology (2021-2030) ($MN)
17 Global Aerosal Paints Market Outlook, By Water Based (2021-2030) ($MN)
18 Global Aerosal Paints Market Outlook, By Solvent Based (2021-2030) ($MN)
19 Global Aerosal Paints Market Outlook, By Other Technologies (2021-2030) ($MN)
20 Global Aerosal Paints Market Outlook, By Application (2021-2030) ($MN)
21 Global Aerosal Paints Market Outlook, By Industrial Coatings (2021-2030) ($MN)
22 Global Aerosal Paints Market Outlook, By Speciality Coatings (2021-2030) ($MN)
23 Global Aerosal Paints Market Outlook, By Architectural Coatings (2021-2030) ($MN)
24 Global Aerosal Paints Market Outlook, By Other Applications (2021-2030) ($MN)
25 Global Aerosal Paints Market Outlook, By End User (2021-2030) ($MN)
26 Global Aerosal Paints Market Outlook, By Wood and Furniture Industry (2021-2030) ($MN)
27 Global Aerosal Paints Market Outlook, By Construction Industry (2021-2030) ($MN)
28 Global Aerosal Paints Market Outlook, By Toys Industry (2021-2030) ($MN)
29 Global Aerosal Paints Market Outlook, By Packaging Industry (2021-2030) ($MN)
30 Global Aerosal Paints Market Outlook, By Automotive Industry (2021-2030) ($MN)
31 Global Aerosal Paints Market Outlook, By Household Industry (2021-2030) ($MN)
32 Global Aerosal Paints Market Outlook, By Other End Users (2021-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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