The artist grade acrylic paints market was valued at US$ 925.24 million in 2021 and is projected to reach US$ 1,348.62 million by 2028; it is expected to grow at a CAGR of 5.5% from 2021 to 2028.
Artist grade acrylic paints are highly pigmented and produce bright colors on a wide range of surfaces, including canvas, metal, glass, and wood. These paints are known for their high-quality pigments and are available in a range of consistency. Artists prefer acrylic paints over oil paints because of their convenience, low maintenance, exceptional lightfastness, and flexibility. Moreover, artist grade acrylic paints are also gaining popularity over oil paints owing to their affordability and low toxicity.In 2020, Europe held the largest share of the global artist grade acrylic paints market, and Asia-Pacific is estimated to register the fastest CAGR in the market over the forecast period. The popularity of artist grade acrylic paints is significantly growing among consumers in Europe, owing to their properties such as versatility, durability, fast drying time, and low toxicity. Moreover, there has been a significant rise in the number of people inclined toward fine arts and painting in the region, potentially driving the regional market. Furthermore, there is a strong presence of prominent manufacturers of artist grade acrylic paints such as SENNELIER, Royal Talens BV, and ACRYLICOS VALLEJO in Europe, which is significantly contributing to the market growth. These players are heavily focusing on product innovation strategy, which is attracting a large group of consumers. For instance, Sennelier, a Europe-based paint manufacturer, offers artist grade acrylic paints in different types of packaging such as tubes, pouches, and bottles, with matte, glossy, and other different types of finishes. Such innovative products by prominent manufacturers are expected to boost the sales of artist grade acrylic colors across the region.
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Artist Grade Acrylic Paints Market: Strategic Insights
Market Size Value in US$ 925.24 million in 2021 Market Size Value by US$ 1,348.62 million by 2028 Growth rate CAGR of 5.5% from 2021 to 2028 Forecast Period 2021-2028 Base Year 2021
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Artist Grade Acrylic Paints Market: Strategic Insights
| Market Size Value in | US$ 925.24 million in 2021 |
| Market Size Value by | US$ 1,348.62 million by 2028 |
| Growth rate | CAGR of 5.5% from 2021 to 2028 |
| Forecast Period | 2021-2028 |
| Base Year | 2021 |
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Furthermore, the artist grade acrylic paints market in Asia Pacific has experienced a considerable shift over the years. Moreover, with the continual number of professional artists, the artist grade acrylic paints market will witness growth during the forecast period. Further, the various advantages offered by artist grade acrylic paints is another key factor predicted to support the market growth in the region.
Impact of COVID-19 Pandemic on Artist Grade Acrylic Paints Market
Many sectors, including the paints and coatings industry, faced unprecedented challenges due to the COVID-19 pandemic. Due to operational difficulties under COVID-19 safety protocols, the paint sector contracted sales during the initial months of the pandemic. The COVID-19 safety regulations made it harder for smaller businesses to operate and sell their products. The supply chains were completely disrupted due to nationwide lockdown and border restrictions, which negatively impacted the sales of paint products. Moreover, the manufacturing of acrylic paints got hampered due to the shortage of raw materials and labor. People started exploring their hobbies during the lockdown period, which created a significant demand for artist grade acrylic paints. Still, there was a demand and supply gap, owing to a shortfall in product supply and a breakdown in the distribution network.
Businesses are gaining ground as previously imposed limitations are being eased across various locations. Moreover, the introduction of COVID-19 vaccines by governments of different countries has further eased the situation, leading to a rise in business activities across the globe. Due to rising vaccination rates across the globe, the market started recovering from the losses, which is expected to positively impact the growth of the artist grade acrylic paints market. Moreover, e-commerce platforms played a significant role in reviving product sales because of their extensive logistics and distribution capabilities. Larger companies with nearly seamless supply chains, larger dealer budgets, higher brand value, and continuous product availability are expected to gain significant market share across various distribution channels over the forecast period. These factors are projected to open positive growth opportunities for the artist grade acrylic paints market globally in the coming years.
Artist Grade Acrylic Paints Market Breakdown – By Region, 2020
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Market Insights
Increasing Demand for Convenient, Low-Maintenance, and Affordable Artist Paints
Acrylic painting requires fewer tools than oil painting. They are convenient, easy to store and transport, and are affordable alternatives to oil paints. Many commercial painters prefer acrylic paints because of their flexibility and quick drying time. Moreover, acrylic paints require less maintenance compared to oil paints as they are easy to clean. Furthermore, acrylic paints are non-toxic and will not crack, peel, or turn yellow with time. Professional artists increasingly use acrylic paints, owing to their benefits over other paints like oil and watercolors. Owing to faster lifestyles, artists require hassle-free painting alternatives.
Moreover, commercial artists generally prefer acrylic paints due to their faster turnaround times. Thus, the rapidly increasing demand for affordable, flexible, and convenient paints is potentially driving the artist grade acrylic paints market. Moreover, manufacturers are improving the characteristics of acrylic paints to cater to the changing requirements of consumers. This factor is also expected to further boost the growth of the artist grade acrylic paints market in the near future.
Product Type Insights
Based on product type, the artist grade acrylic paints market is categorized into fluid acrylics, heavy-body acrylics, and others. The heavy-body acrylics segment accounted for the largest market share in 2020. The fluid acrylics segment is expected to register the highest CAGR in the market during the forecast period. Heavy body acrylics are acrylic paints with a thick, smooth, and buttery consistency (like oil paints) that retain brushstrokes and promote color blending and mixing. They are usually available in either jars or tubes. The heavy body acrylics include the widest variety of unique pure pigments in an acrylic emulsion available to professional artists. These artist grade acrylic paints offer superior permanency and lightfastness. There are no extenders, fillers, toners, pacifiers, or dyes added. The heavy body acrylics contain no matting agents and can retain brush strokes or palette knife marks on the canvas. They are thixotropic, which means that when brushing or stirring, the paints lose viscosity and feel much thinner. The heavy body acrylics retain great flexibility when dry, considerably lessening the possibility of cracking, which occurs in other synthetic and natural polymer systems. Besides, these paints can be mixed with other paint lines, including high flow acrylics, fluid acrylics, paste paints, high load colors, and matte acrylics. These factors are predicted to bolster the heavy body acrylics segment growth during the forecast period.
Distribution Channel Insights
Based on distribution channel, the artist grade acrylic paints market is categorized into supermarkets & hypermarkets, specialty stores, online retail, and others. The supermarkets & hypermarkets segment accounted for the largest market share in 2020. The online retail segment is expected to register the highest CAGR in the market during the forecast period. Online portals such as Amazon and eBay have boosted the growth of the artist grade acrylic paints market, as online retailing lessens the operation cost of the manufacturers and allows them to reach targeted customers. Moreover, consumer online marketing has the added benefit of varied payment options, home delivery, and attractive discounts; and it is convenient for the customers. Buyers opt for online shopping as it saves time, money, and effort for shopping compared to other distribution channels. These portals also offer complete information about the product, such as product description, application, user's review, and user guide, which helps the buyer compare different products briefly and choose the product wisely. For instance, Amazon offers artist acrylic paints of various brands. The product contains details such as paint type, item volume, item weight, product dimensions, brand, special offers and product promotions, best sellers rank, customer reviews, and other information.
Furthermore, features such as 24x7 availability, secure payment options, easy access, quick service, and home delivery have attracted consumers to shop online for artist grade acrylic paints. High adoption of the internet and smartphones has enabled consumers to explore multiple e-commerce portals and shop products online. Thus, the comfort, availability of a wide array of products, and time convenience of online stores promote the sales of artist grade acrylic paints.
Artist Grade Acrylic Paints Market, by Distribution Channel – 2020 and 2028
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- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
The key players operating in the artist grade acrylic paints market include Acrylicos Vallejo; Colart International Holdings Ltd.; Da Vinci Paint Co.; Daler-Rowney Ltd.; Decoart, Inc.; Derivan Pty Ltd.; Lukas; Pebeo; Royal Talens BV; and Sennelier. These players heavily focus on product innovation strategy to attract large consumer groups across different regions and enhance customer satisfaction.
Report Spotlights
- Progressive industry trends in the artist grade acrylic paints market to help players develop effective long-term strategies
- Business growth strategies adopted by developed and developing markets
- Quantitative analysis of the artist grade acrylic paints market from 2019 to 2028
- Estimation of global demand for artist grade acrylic paints
- PEST analysis to illustrate the efficacy of buyers and suppliers operating in the industry
- Recent developments to understand the competitive market scenario
- Market trends and outlook, as well as factors driving and restraining the growth of the artist grade acrylic paints market
- Assistance in the decision-making process by highlighting market strategies that underpin commercial interest, leading to the market growth
- The size of the artist grade acrylic paints market size at various nodes
- Detailed overview and segmentation of the market, as well as the artist grade acrylic paints industry dynamics
- Size of the artist grade acrylic paints market in various regions with promising growth opportunities
Artist Grade Acrylic Paints Market – by Product Type
- Fluid Acrylics
- Heavy-Body Acrylics
- Others
Artist Grade Acrylic Paints Market – by Distribution Channel
- Supermarkets & Hypermarkets
- Specialty Stores
- Online Retail
- Others
Company Profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Product Type, and Distribution Channel
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
The major players operating in the global artist grade acrylic paints market are Acrylicos Vallejo, Colart International Holdings Ltd., Da Vinci Paint Co., Daler-Rowney Ltd., Decoart, Inc., Derivan Pty Ltd., Lukas, Pebeo, Royal Talens BV, and Sennelier.
During the forecast period, Europe is anticipated to account for the largest share in the global artist grade acrylic paints market. Artist grade acrylic paints are gaining huge popularity amongst the consumers in Europe owing to its versatility, durability, fast drying time, and low toxicity. Moreover, shifting preference of consumers across the region towards acrylic paints owing to their affordability and convenience is also driving the growth of artist-grade acrylic paints market across Europe.
Based on product type, the heavy-body acrylics segment is anticipated to account for the largest share in the global artist grade acrylic paints market. The heavy body acrylic paints have the most unique pure pigments available in an acrylic emulsion for professional painters. These artist-quality acrylic paints have excellent durability and light fastness. Artists can produce a wide range of paint consistencies using heavy-body acrylic paints without sacrificing color strength. These characteristics of heavy-body acrylic paints are driving their popularity amongst the professional artists
On the basis of product type, the fluid acrylics segment is the fastest growing segment in the global artist grade acrylic paints market in 2020. Fluid acrylics are acrylic paints with a thin consistency and are composed to flow and spread easily without losing color intensity. They are highly versatile, excellent for staining and glazing, pouring and dropping techniques, shading, or as an alternative to watercolors. Besides, fluid acrylics also find applications in spraying, dry brush application, staining techniques, fine brushwork, and water media techniques.
Asia Pacific is the fastest growing region in the global artist grade acrylic paints market during the forecasted period. Asia Pacific comprises of several economies such as India, China, Japan, South Korea, and Australia. With the increasing number of professional artists, the artist grade acrylic paints market is expected witness a surge in demand during the forecast period. The manufacturers in the region are formulating artist grade acrylic paints with high quality pigments and a satin finish, as well as a range of opacities.
Rising popularity of acrylic paints over oil paints is one of the key drivers for the growth of the global artist grade acrylic paints market. Acrylic paints are gaining massive popularity among professional artists due to their fast drying and long-lasting properties. Oil paints take a long time to dry. However, acrylic paints dry out quickly and minimize the hassle. Moreover, oil paints have poor light fastness and fade over time.
The List of Companies - Artist Grade Acrylic Paints Market
- Acrylicos Vallejo
- Colart International Holdings Ltd.
- Da Vinci Paint Co.
- Daler-Rowney Ltd.
- Decoart, Inc.
- Derivan Pty Ltd.
- Lukas
- Pebeo
- Royal Talens BV.
- Sennelier
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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