Aerosol Paints Market Size, Growth & Forecast to 2028

[Research Report] The global aerosol paints 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.

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.

In 2020, Asia Pacific held the largest share of the global aerosol paints market. It is also estimated to register the fastest CAGR in the market during the forecast period. The demand for aerosol paints is expected to increase in the region due to various factors such as the huge population base, increasing disposable income, and improved living standards. The growth of the automotive refinish market has also positively contributed to the growth of the demand for aerosol paints in Asia Pacific. These factors have also attracted foreign players to expand into the region. Additionally, the rapid growth of this region can also be attributed to the growth of the construction industry in the region. China is the world’s largest construction market and is expected to grow significantly over the next few years. Moreover, other developing economies like India is also set to grow at a tremendous rate with the focus of the region toward boosting domestic manufacturing activities.

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 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.

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Aerosol Paints Market: Strategic Insights

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Market Insights

Increasing Use of Aerosol Paint in DIY Activities

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.

Raw Material Insights

Based on raw material, the aerosol paints market is segmented into acrylic, alkyd, epoxy, polyurethane, and others. In 2020, alkyd segment dominated the aerosol paints market. Alkyd paint is often described as an oil-based paint and comprises solvent-based finish. These paints consist of a polyester resin and are cross-linked by drying fatty acids and vegetable oils. The traditional solvent for an oil-based paint is mineral spirits. Mineral spirits are unsuitable for spraying alkyds unless it is very hot as it dries too slow. This slow evaporating solvent keeps the paint wet long enough to assist in levelling, owing to which a faster fast-evaporating solvent is desired. The Increasing use of alkyd aerosol paint is increasing can be attributed to ease of application and a high gloss finish, which is expected to boost the demand growth of the for the alkyd aerosol paint market in during the forecast period.

A few of the key market 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. Major players in the market are focusing on strategies such as mergers and acquisitions and product launches to expand the geographic presence and consumer base.  

Report Spotlights

• Progressive trends in the aerosol paints industry to help players develop effective long-term strategies
• Business growth strategies adopted by companies to secure growth in developed and developing markets
• Quantitative analysis of the global aerosol paints market from 2019 to 2028
• Estimation of the demand for aerosol paints across various industries
• PEST analysis to illustrate the efficacy of buyers and suppliers operating in the industry to predict market growth
• Recent developments to understand the competitive market scenario and the demand for aerosol paints  
• Market trends and outlook coupled with factors driving and restraining the growth of the aerosol paints market
• Understanding regarding the strategies that underpin commercial interest with regard to global aerosol paints market growth, aiding in the decision-making process
• Aerosol paints market size at various nodes of market
• Detailed overview and segmentation of the global aerosol paints market as well as its industry dynamics
• Aerosol paints market size in various regions with promising growth opportunities

Aerosol Paints Market, by Raw Material

• Acrylic
• Alkyd
• Epoxy
• Polyurethane
• Others

Aerosol Paints Market Regional Insights

The regional trends and factors influencing the Aerosol Paints Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Aerosol Paints Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Aerosol Paints Market Market Report Scope

Market Players Density: Understanding Its Impact on Business Dynamics

The Aerosol Paints Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

Major Companies operating in the Aerosol Paints Market are:

1. Aeroaids Corporation
2. The Sherwin-Williams Company
3. Kobra Paint - Spray Art Technologies
4. Masterchem Industries LLC
5. MONTANA COLORS S.L.

Disclaimer: The companies listed above are not ranked in any particular order.

Aerosol Paints Market, by Technology

• Solvent-Borne
• Water-Borne
• Others

Aerosol Paints Market, by Application

• Construction Industry
• Automotive and Transportation
• Wood and Furniture Industry
• Packaging
• Others

Company Profiles

• 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.
• Technima SAS