Published March 2024
Acrylic surface coatings are used in all three of the paint and coatings market categories — architectural coatings, product finishes for original equipment manufacture (OEM) and special-purpose coatings. Protective coatings other than paints, such as fabric and leather finishes, floor polishes and paper coatings, can also be based on acrylic polymers; however, these coatings are not included in this report.
Acrylic coatings can be used in organic solventborne, waterborne, powder or radiation-curable formulations. They are used mainly in architectural, or decorative, finishes, and to coat industrial goods. Acrylic surface coatings are the leading finishes used in the paint and coatings industry, having surpassed alkyd finishes over the past few years. Based on acrylic and/or methacrylic polymers or copolymers, acrylic surface coatings are noted for their inertness and excellent color retention when exposed to outdoor conditions. Acrylic coatings now account for about 25% of all coatings on a global basis.
The following pie chart shows world consumption of acrylic surface coatings by major region:
In the OEM automotive market, waterbornes account for 70%-80% of the global market for automotive OEM basecoats, which is up considerably from 1997 when the penetration was about 20%. There is also use of acrylic latexes in the automotive refinish market in North America and Western Europe.
Consumption rose over the past decade in most areas of the world but decreased in 2020 owing to the COVID-19 pandemic. Consumption has grown slowly in recent years due to weak economies. Future growth is forecast at about 2.7% per year from 2024 through 2029. For environmental reasons, there has been a shift toward waterborne acrylics used in architectural and automotive coatings. Acrylic latex coatings have captured a good portion of the North American and Western European market for architectural coatings as replacements for solventborne coatings. Use in developing regions as replacements for solventborne coatings and other low-quality, low-durability budget coatings is expected to continue to grow.
The largest global producers of acrylic emulsions, in order of global importance, are Dow, BASF and Celanese. These multinationals produce in every major region of the world. In mainland China, there are numerous latex manufacturers, but many produce only low-quality products.
Most producers of acrylic emulsions also market their products to other industries outside of coatings, such as adhesives, inks, textiles and other. Also, many plants are multifunctional and capable of making non-acrylic-based emulsions. The cost of making these products is largely dependent on raw material costs.
For more detailed information, see the table of contents, shown below.
S&P Global’s Chemical Economics Handbook –Acrylic Surface Coatings is the comprehensive and trusted guide for anyone seeking information on this industry. This latest report details global and regional information, including
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S&P Global’s Chemical Economics Handbook –Acrylic Surface Coatings has been compiled using primary interviews with key suppliers and organizations, and leading representatives from the industry in combination with S&P Global’s unparalleled access to upstream and downstream market intelligence and expert insights into industry dynamics, trade and economics.
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