Aerosol Coatings: Global Market Scenario, Trends, Opportunity, Growth and Forecast, 2020-2030

Market Definition

A type of paint known as aerosol spray paint comes in a pressurized, sealed container and is dispersed by spraying. Aerosol paints are frequently used by users to enhance the aesthetics of surfaces because of its quick drying ability, mobility, speed of spraying, and high-quality even finish. The main substrates for these coatings are metals, glass, concrete, plastics, and ceramics. Therefore, aerosol paints are increasingly used in new building or renovations, the automobile industry, industrial applications, furniture, and do-it-yourself (DIY) projects.

Market Insights

The market for aerosol coatings was valued at $250 million in 2022 and is anticipated to expand at a CAGR of 5.9% from 2023 to 2030. The demand for aerosol coatings for quick semi-permanent marking at construction and surveying sites is projected to rise as construction activity increases. Incredibly compatible with applications involving flying drones are aerosol spray paints. These spray systems are now being used for artistic graffiti on exterior walls. Such innovations will revolutionize painting techniques by making it possible for paint to adhere to intricate surfaces like skyscrapers, bridges, and other massive industrial projects. The rapidly expanding construction sector is thus expected to have a significant impact on the aerosol coatings market during the forecast period, according to MTMA.

Aerosol paints are frequently used in the new building and refurbishment of factories, homes, institutions, and offices because of their short drying time, high quality, and even finish. Aerosol spray paints are more convenient to use, may enhance the appearance of homes and structures, and have a long shelf life. Typically, users use traditional paints for architectural applications. Aerosol coatings are still only used in a few particular functional applications in the building industry due to their relatively higher costs. In order to give previously painted areas a finish and touch-ups, these coatings are typically applied to small areas. However, consumers frequently use aerosol coatings for architectural and ornamental applications, such as wall paints and sculptures, after realizing the cost advantages and the increased demand for good finish qualities.

Architectural coatings for interior walls in homes and businesses tend to favour low volatile organic compounds (VOCs) and odorless aqueous spray paints. The dynamic construction sector significantly contributes to the expansion of the economies of all nations. The demand for aerosol coatings is anticipated to rise as urbanization and disposable incomes in developing nations increase. Aerosol coatings are in high demand as a result of the building industry’s acceleration and global leadership in China, India, and the United States due to population increase.

Market Dynamics: Drivers

Rapidly Expanding Automotive Industry

Aerosol coatings are used in the automotive sector for car refurbishment during manufacture and after sales. Aerosol paints are great for touch-ups because they produce a high-quality finish with extraordinary resistance to petrol and ultraviolet (UV) radiation. They are therefore perfect for mending small sections of the interior and exterior of automobiles. The global demand for aerosol coatings is developing quickly, and this is largely due to the expansion of the automotive industry with rising sales of commercial vehicles, passenger automobiles, and motorbikes. For instance, despite the COVID-19 pandemic and the automotive semiconductor industry’s supply chain disruption in 2022, auto sales grew to around 67.2 million units from 63.8 million in 2020. The market for aerosol coatings for automotive applications is expected to increase with the arrival of more renowned coating companies and vehicle manufacturers, especially in emerging nations. The market for aerosol paints will also be driven by an increase in the middle-class income in APAC and MEASA, as well as young people’s increased interest in customised aerosol coatings for automobiles. Additionally, we believe that the quick expansion of the market will be aided by the need for electric vehicles and non-flammable, odourless, non-toxic, and aqueous aerosol coatings.

These facts suggest that this driver will have a significant impact on the market throughout the forecast period.

The Growing Use of Aerosol Coatings for Do-It-Yourself Projects As a Result of the Internet’s and Social Media’s Influence

The demand for aerosol paints in commercial applications was badly damaged by the epidemic, while many people engaged in DIY projects while the country was in lockdown. The global DIY and home improvement market reached EUR701 billion in 2020, up 13.8% from 2019. As a result, aerosol coating usage significantly rose. The use of aerosol paints in DIY projects has been positively impacted by social media. Aerosol paints are now being used by consumers for domestic purposes, such painting walls. These paints are simple to employ with stencils and give the wall a fresh appearance. To modernise and renew the look of their vehicles, Gen Z and millennials also use aerosol paints. Aerosol paints are also frequently used in murals, fine art, and graffiti. Graffiti artists prefer water-based, less poisonous, and odourless paints that also drip less than rival goods, which is why aerosol sprays are convenient and quick.

Market Dynamics: Challenges

Rising Raw Material Prices and Product Costs

In an aerosol paint can, the gas and solvent make up the majority of the weight, with the actual paint making up less than a third. However, the expense of creating an aerosol coating can be offset by the paint to the tune of roughly 63%. Additionally, the intended use affects how much aerosol paint costs. For instance, the average cost of aerosol coatings used in the automotive industry’s refinish coatings market is significantly higher than the cost of spray coatings used for fine or street art. In comparison to product performance and convenience of use, the influence on overall pricing in Europe and North America is minimal. This constraint will have a significant effect on market expansion.

Market Segmentation

• Based on Type, the Global Aerosol Coatings market is segmented into
  • Alkyd
  • Acrylic
  • Epoxy
  • Polyurethane
  • Others
• Based on End Use Industry, the Global Aerosol Coatings market is segmented into
  • Automotive
  • Building & Construction
  • DIY
  • Others
• Based on Formulation Technology, the Global Aerosol Coatings market is segmented into
  • Solvent Borne
  • Water Borne
• Based on Geography, the Global Aerosol Coatings market is segmented into
  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East & Africa
• All market revenue has been given in US Dollar and volume in tons.

Historical Year: 2020-2021
Base Year: 2022
Estimated: 2023
Forecast- 2024-2030

Key Questions this Study will Answer

• What are the key overall market statistics or market estimates (Market Overview, Market Size- By Value, Market Size-By Volume, Forecast Numbers, Market Segmentation, Market Shares) of Global Aerosol Coatings Market?
• What is the region wise industry size, growth drivers and challenges key market trends?
• What are the key innovations, opportunities, current and future trends and regulations in the Global Aerosol Coatings Market?
• Who are the key competitors, what are their key strength and weakness and how they perform in Global Aerosol Coatings Market based on competitive benchmarking matrix?
• What are the key results derived from the market surveys conducted during Global Aerosol Coatings Market study?