Low levels of volatile organic compounds (VOCs) in acrylic surface coatings have led to the increased adoption of such coatings. This can be ascribed to the growing awareness about harmful effects of VOCs like cancer and respiratory illnesses. Moreover, the amplifying environmental concerns, has encouraged manufacturers and customers to shift toward acrylic products. On account of these reasons, governments of various countries have amended norms to lower VOC emission levels. Thus, they are implementing stringent regulations to coerce the manufacturers to develop eco-friendly coatings.
Moreover, increasing usage of coatings for decorative purposes will escalate the acrylic surface coating market at 5.2% CAGR during forecast period. The market was valued at $24,121.1 million in 2015 and it is expected to reach $34,720.3 million by 2022. These coatings are used for amplifying the aesthetic value of vehicles, interior and exterior walls, and furniture. High volume adoption of decorative coatings can be owed to the rapid urbanization and surge in disposable income, globally. Moreover, rising investments in the infrastructure sector, especially in developing nations, will boost the utilization of acrylic surface coatings in the foreseeable future.
According to P&S Intelligence, Asia-Pacific (APAC) will lead the acrylic surface coating market in the coming years, while displaying the fastest growth. This can be attributed to the vast consumer base, stringent norms for utilization of environment-friendly coatings, and huge investments in the infrastructure sector. Besides, the growing automotive industry and rising purchasing power of people in the region will propel the adoption of acrylic surface coatings in the future. For instance, China is one of the leading automobile manufacturing hubs, which uses a large quantity of coatings to enhance the aesthetic appeal of vehicles produced in the country.
Thus, the environment-friendly nature of acrylic surface coatings will boost their application in the automobile, construction, and furniture sectors, worldwide.