Aerosol Paints Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Key Highlights

• The impact of the COVID-19 pandemic on the market had largely been negative, with the majority of end-user industries (especially the low demand from automotive) facing constant disruptions.
• Stringent VOC emission laws are expected to hinder the growth of the market studied.
• Shifting focus toward developing eco-friendly alternatives is likely to act as an opportunity in the future.

Key Market Trends

Architectural to Dominate the Market

• The architectural segment dominates the demand in the aerosol paints market. Architectural coatings include interior and exterior paints, primers, sealers, varnishes, and stains that are applied on-site to new and existing residential, commercial, institutional, and industrial buildings.
• Conventional paints are used for architectural coatings applications. However, after realizing the cost benefits and aesthetic quality associated with aerosol paints when used on a small scale, manufacturers are increasingly developing aerosol paints for architectural applications.
• The Asia-Pacific and North American regions have been witnessing strong growth in residential construction. Asia-Pacific has been witnessing strong growth in residential construction in countries such as India, China, the Philippines, Vietnam, and Indonesia.
• Besides, in North America, high housing demand, owing to the growing population demand for homes and increased immigrants, and the trend of nuclear families are some of the factors driving the residential construction in the region.
• Thus, such a robust performance of the construction industry across various regions has been driving the demand for the aerosol paints market.
• Besides, the trend is likely to remain the same over the next few years, which is expected to continue providing growth opportunities for the aerosol paints market during the forecast period.

Germany to Dominate the European Region

• Germany’s construction industry is the largest in Europe. The residential construction segment is expected to have moderately high growth.
• Germany is Europe’s biggest construction market, with the continent’s largest building stock. In 2020, the industry’s revenue increased by 5.9% to about EUR 143 billion.
• Annual investment in the country has been steady over the past few years, as the German government supports energy-efficient renovation and construction, with more than EUR 2.5 billion invested in 2020 alone.
• The country’s building stock needs an update, as 63% of German building stock was constructed before 1979.
• Some of the key players in the German furniture industry are Huls AG & Co. KG, Topstar GmbH, and Rauch GmbH & Co. KG, among others. Most of the companies are located in Bavaria, Baden-Wurttemberg, and North rhine-Westphalia. Currently, there are over 22,000 furniture manufacturers across the country.
• Also, the German automotive industry is the largest automotive producer in Europe. Twenty-one of the world’s top 100 automotive suppliers are German companies.
• However, in the past few years, the automotive industry has been witnessing a decline in production in the country due to the high cost and shifting of production to countries like China.
• All the aforementioned factors are likely to increase the demand for the market over the forecast period.

Competitive Landscape

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support