Global Aerosol Paints Market - Segmented by Raw Material, by Technology, by Application, by End-User Industry and Geography - Growth, Trends and Forecasts (2018 - 2023)
The market demand for aerosol paints is likely to be driven by the growing demand from the wide-range of applications in numerous industries such as automotive refinishing, construction, and wood & furniture industries, to evenly paint different substrates. Between 2010 and 2016, the number of vehicles in use increased by 46% in Asia-Pacific; this rise in vehicle usage was also one of the reasons for the increased demand for aerosol paints in region.
Increasing Demand For Automotive Refinish Applications
Aerosol paints are easy-to-use, high-quality and fast drying paints, which are widely used for automotive refinish applications. Aerosol paints are the ideal solution for providing finishing touches, repairs, and reconditioning automotive components, such as a motorcycle or car parts.
The rising demand for small-scale vehicle touch-up and painting vehicle accessories, owing to their aesthetic superiority is expected to augment the demand for the aerosol market. With increasing production of lightweight vehicles, using advanced engineering materials, the average lifespan of vehicles has increased, globally. Thereby, resulting in the growth of the automotive refinish business.
Thus, the rapidly growing automotive sector and increasing demand for automotive refinish applications is driving the global aerosol paints market.
Architectural coatings To Dominate The Market
Architectural coatings include interior and exterior paints, primers, sealers, varnishes, and stains that are applied on-site to new and existing residential, commercial, institutional, and industrial buildings. Mostly conventional paints are used for architectural coatings application. However, after realizing the cost benefits, and aesthetic quality associated with aerosol paints when used in small-scale, manufacturers are increasingly developing aerosol paints for architectural applications.
North America is, currently, the leading consumer of aerosol paints for architectural coatings application. The American Public Works Association (APWA) has standardized colors for utility and excavation markings. Furthermore, with increasing R&D activities taking place in North America & Europe, manufacturers are now also able to develop low-VOC aerosol paints with comparable performance and durability as VOC containing paints. Therefore, the market of aerosol paints for architectural coating application is benefitted from this development in North America & Europe.
The United States is The Largest Consumer of Aerosol Paints
The United States is currently one of the largest consumers of aerosol paints, globally, and the market is expected to witness a swift growth rate over the forecast period. Factors, such as increasing average age of vehicles, the growing demand from the construction sector, and shifting consumer focus toward low-VOC paints are driving the aerosol paints market in the United States.
Over the past several years, both, commercial and consumer demand for environment-friendly products have been increasing in the United States. As more regulations are put into place, consumers of paints and coatings are becoming aware of the advantages of using green products. The regulations that are increasingly being imposed by these regulatory bodies on paints & coatings manufactures are responsible for the growing adoption of low-VOC paints in the United States. Hence, most aerosol paint manufacturers in the United States are now producing a low-VOC variety of aerosol paint. These new paints are durable, cost-effective and less harmful to human and environmental health.
Furthermore, the increasing production of lightweight vehicles in the United States is increasing the automotive refinish business, thereby, increasing the demand for aerosol paints in the United States.
MAJOR PLAYERS: Krylon, Inc. (Sherwin-Williams Company), PPG Industries, Inc., Rust-Oleum, Membrane Group, and Nippon Paint (Pylox) amongst others
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