Yahoo Finance Acrylic Powder Market to Reach US$ 92.1 Bn by 2031: TMR Study
Demands for acrylic powder in cosmetics and automotive industries underpin abundant growth opportunities; wide utilization products in artificial nail resin and protective automotive coating formulations boost acrylic powder market
Wilmington, Delaware, United States, Aug. 11, 2022 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The growth of the acrylic powder market has been propelled by increasing commercialization of products to cater to the demand for protective coating in the automotive industry and utilization of products in various cosmetics. Ongoing trends of the acrylic powder market indicate that colored acrylic powders enable manufacturers and suppliers to meet customized needs of businesses in end-use industries. The size of the global acrylic powder market was pegged at US$ 48.3 Bn in 2021.
Companies in the acrylic powder market are tapping into the vast revenue potential arising out of its use in fingernails. Growing popularity of colorless acrylic powder is fueling acrylic powder market development, found the TMR study. A scrutiny of recent acrylic powder market trends points to the fact that players in the value chain are geared toward leveraging cost-efficient production methods in a bid to reap attractive profit margins.
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Key Findings of Acrylic Powder Market Study
Numerous Applications in Cosmetics Propelling Revenue Streams: The cosmetic end-use industry contributes a massive volume of demand for acrylic powders. The segment held a key market share of 36% in 2021. Utilization of the products in eyeshadows, blushes, and artificial fingernails is fueling the revenue growth of the acrylic powder market. A bulk of demand is likely to come from its use in artificial nails, invigorated by new trends in nail care.
Widespread Use in Automotive Coatings to Generate Revenue Growth: Rise in demand for acrylic powders in the automotive industry is reinforced by the use of protective coatings in automobiles. Firms in the acrylic powder market are witnessing profitable avenues in the increasing adoption of temperature-sensitive substrate coatings and other high-performance coatings. Constant R&D will pave the way for new revenue streams by the end of the forecast period.
R&D to Lead to Products with New Characteristics, Expanding Market Avenue: Strides made by the automobile industry will expand the avenue for growth of the acrylic powder market. Continuous R&D on improving the product attributes have resulted in the introduction of products with advanced characteristics to meet the desired functionality for protective coatings. Of note, growing number of impact-resistant and heat-resistant products in the acrylic powders have opened up massive profitable avenue.
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Acrylic Powder Market: Key Drivers
The drive for acrylic powder market stems from and is gathering momentum on the back of growing trend of nail grooming and nail cosmetics. The esthetic appeal and cost-effectiveness of acrylic powders have led to their massive utilization in artificial nails and crystal nail polishes.
Rise in demand for protective coatings in the automobile industry will drive lucrative opportunities in acrylic powder market
Acrylic Powder Market: Regional Growth Dynamics
Asia Pacific held a key share of the global acrylic powder market and had been estimated to be the most lucrative regional market in 2021. Substantial adoption of the products in multiple industries, such as for paints and coatings and cosmetics has propelled revenue growth.
North America and Europe have also emerged as prominent markets in 2021.
Meanwhile, opportunities in the Middle East & Africa are projected to rise at remarkable rate during the forecast period
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Acrylic Powder Market: Key Players
The business intelligence study on the acrylic powder market found that the competition landscape is consolidated.
Some of the key players in the market are Cosmaire Co., Limited, Axalta, Esschem Europe, The Sherwin-Williams Company, PPG Industries, AkzoNobel, Arkema, BASF SE, and DIC Corporation.
Acrylic Powder Market Segmentation
Application
Fingernail
Plastisol Production
Textile Printing Inks
Specialty Coatings
Dry Film Photo
Others
End-use
Cosmetics
Automotive
Inks
Plastics
Paints and Coatings
Others
Regions
North America
Latin America
Europe
Asia Pacific
Middle East & Africa
Countries Covered
U.S.
Canada
Germany
U.K.
France
Spain
Italy
Russia & CIS
Japan
China
India
ASEAN
Brazil
Mexico
GCC
South Africa
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