Report : Aerosol Paints Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Raw Material (Acrylic, Alkyd, Epoxy, Polyurethane, and Others); Technology (Solvent-Borne, Water-Borne, and Others); Application (Construction Industry, Automotive and Transportation, Wood and Furniture Industry, Packaging, and Others)
Increasing Use of Aerosol Paint in DIY Activities
According to our latest market study on “Aerosol Paints Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Raw Material (Acrylic, Alkyd, Epoxy, Polyurethane, and Others); Technology (Solvent-Borne, Water-Borne, and Others); Application (Construction Industry, Automotive and Transportation, Wood and Furniture Industry, Packaging, and Others),” the market was valued at US$ 3,941.90 million in 2020 and is projected to reach US$ 5,238.49 million by 2028; it is expected to grow at a CAGR of 3.9% from 2021 to 2028. The report highlights key factors driving the market growth and prominent players along with their developments in the market.
Aerosol paints are available in a sealed pressurized container. They are available in various colors and styles, making it a popular choice of product among consumers. They are widely used in the construction and automotive sectors as they are easy to use and have quick drying times.
Do it Yourself (DIY) is an activity that comprises decorating, building, modifying, and repairing things at home by oneself without the help of an expert or a professional. Consumers use aerosol paints for household DIY activities. They use these paints to modernize or reinvent their furniture, which helps them save the cost of new furniture. The frames of windows and doors in homes can become worn over a long period of time, and their colors can also be bleached from UV rays. The wooden frames can become coarse and untidy. The bottom of doorframes gets scuffed due to constant footfall. Thus, aerosol paints provide a dual-purpose fix as they repair and modify the window and doorframes and provide a new look to the furniture. In addition, the usage of aerosol paints helps eliminate the cost of purchasing new frames. Doors have marks and scrapes, and the door style goes out of fashion after some period. It becomes costly to replace the door. Aerosol paints can also be used for making various art and craft products. They can be used to paint the gates and fences. The aerosol paint is also used for painting murals. Murals are painted by using aerosol paints or applied directly on a wall, ceiling, or other permanent surfaces. The aerosol paints provide a great effect to the wall art and are easy to use with stencils too. Thus, increased use of aerosol paints in DIY activities drives the market growth.
The key players operating in the aerosol paints market are Aeroaids Corporation; The Sherwin-Williams Company; Kobra Paint - Spray Art Technologies; Masterchem Industries LLC; MONTANA COLORS S.L.; Nippon Paint Holdings Co., Ltd.; Plutonium Paint; AVT Paints Pty Ltd; PPG Industries Inc.; Rust Oleum; Peter Kwasny GmbH; Motip Dupli Group B.V.; and Technima SAS and others. The major players are striving towards expanding their customer base and expanding their presence globally to acquire better market position.
Impact of COVID-19 Pandemic on Aerosol Paints Market
The COVID-19 outbreak has impacted distinguished industries differently. Due to the pandemic, the lockdown scenario has affected and hampered the supply chain of the aerosol paints market. The non-availability of raw materials and labor, owing to the restrictions on the movement of people, has hindered the production of the aerosol paints market. The COVID-19 outbreak has been considered a pandemic and has badly affected several businesses across the globe. The pandemic has had the most influence on the production, logistics, and tourism & travel industries. The virus outbreak propelled the governments of numerous countries to impose a lockdown to decrease the spread of the virus. Thus, several companies are undergoing downtime and have driven some companies to work remotely, leading to low productivity and income. The chemical and materials industry is one of the significant sectors suffering severe disruptions such as supply chain breaks, technology events cancellations, office shutdowns, etc., because of this outbreak. The shutdown of various plants and factories in leading regions such as North America, Europe, Asia-Pacific, South America, the Middle East, and Africa has affected the global supply chain and negatively impacted the manufacturing, delivery schedules, and sales of various chemicals and materials. Aerosol paints are mainly used in end-use industries such as automotive and construction, owing to which the market has faced a severe negative impact. The occurrence of COVID-19 has disrupted the residential construction sector. The major disruption is in the supply chain. The change of COVID-19 from a China-centric challenge to a worldwide pandemic has shifted the impact to the worldwide construction supply chains and markets.
The ongoing pandemic has created several challenges for the construction industry and disrupted the global economy. The global crisis, a continuation of the recession, and the path of recovery will mainly determine the nature and severity of these challenges. The construction industry, especially the novel residential segment, was performing well and witnessing a surge in activity across many divisions in the initial quarter of 2020. However, due to the growing number of cases in North America, many ongoing projects considered essential by the government authorities were not stopped, but new residential construction licenses were suspended. In addition to this, with the World Health Organization declaring the COVID-19 outbreak a pandemic, an unprecedented global disruption is at hand. Automobile and component manufacturing plants are being shuttered worldwide, consumer footfalls in showrooms have fallen sharply, vehicle sales are dropping dramatically, and almost every major industry event is either canceled or going the digital way. Henceforth, the demand for aerosol paint is experiencing a negative impact owing to the said factors.
The Report Segments the Aerosol Paints Market as Follows:
Based on raw material, the market is segmented into acrylic, alkyd, epoxy, polyurethane, and others. Based on technology, the market is segmented into solvent-borne, water-borne, and others. Based on end-user industry, the market is segmented into construction industry, automotive and transportation, wood and furniture industry, packaging, and others. Based on geography, the market is segmented into North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and South and Central America (SAM).
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