Global Aerosol Paints Market - 2024-2031

Overview

Global Aerosol Paints Market reached US$ 215.19 million in 2023 and is expected to reach US$ 325.76 million by 2031, growing with a CAGR of 5.32% during the forecast period 2024-2031.

Aerosol coatings are extensively used to extend the durability of wooden, metal and plastic components. Projected market expansion over the projection period is driven by the increasing use of products in the automotive and construction sectors for protection and cosmetic applications. Furthermore, advancements in technology within the product also play a role in this expansion.

Rust-Oleum unveiled Custom Spray 5-in-1 in April 2023, representing the most recent breakthrough in spray paint technology. This state-of-the-art innovation in spray paint technology enables artisans to easily transition between several spray patterns by a simple turn of a dial.

The market in North America and US is expected to be influenced by the significant presence of leading manufacturers including Rust-Oleum, RPM International, Inc. and Kelly-Moore Paints. Extensive investments in infrastructure development, particularly in the regional construction industries in Asia-Pacific, North America and Europe, are projected to significantly increase the demand for the product in the next years.

Dynamics

Rising Demand for Herbal and Organic Aerosol Personal Care Products

The demand for organic or herbal aerosol cosmetics and personal care products among consumers is a prevailing trend in the industry. There exists a substantial need for personal care products, including cosmetics setting sprays and shave sprays, within the industry. These products have a significant amount of chemicals that have the potential to harm the skin and result in issues like as rashes, acne and complexion imperfections.

Hence, consumers are increasingly opting for products formulated with herbal and natural flower extracts, along with essential oils, that include therapeutic properties capable of mitigating skin issues and augmenting natural beauty. The personal care sector has experienced a significant surge in demand for aerosol products because to the substantial growth in consumers' disposable income and per capita spending. In order to meet this demand, manufacturers in the industry are expanding their range of products.

Convenience and Ease of Use

The global expansion of aerosol paints can be attributed to its notable driving force of convenience and users-friendliness. In contrast to conventional brush and roller techniques, aerosol cans are readily available and need little preparation. Consumers like the ease of applying paint directly onto surfaces without the requirement of brushes, rollers or other implements. This convenience is especially appreciated in do-it-yourself projects and expedient touch-up tasks.

Furthermore, aerosol paints offer a uniform and even application, therefore minimizing the likelihood of streaks or uneven coatings. Consequently, the user-friendly nature of aerosol paints has led to their widespread adoption by both professionals and non-professionals, so driving the expansion of the industry.

Environmental concerns related to volatile organic compounds (VOCs)

Aerosol paints frequently include elevated concentrations of volatile organic compounds (VOCs), known to exacerbate air pollution and pose detrimental impacts on both the environment and human well-being. Furthermore, the incorrect disposal of aerosol cans, which are categorized as hazardous waste, can present substantial environmental hazards, as they may not be readily recyclable and can emit toxic substances if not managed properly.

In response to these concerns, many regions have implemented more stringent restrictions, compelling firms to seek environmentally friendly alternatives. However, this might result in higher production costs and a restricted supply of specific items. Hence, the environmental consequences and legal constraints can function as significant limitations on the expansion of the aerosol paint industry.

Segment Analysis

The global aerosol paints market is segmented based on resin, technology, end-user and region.

Architectural Sub-Segment is Expected to Dominate the Market :

Architectural applications are the primary drivers of demand in the aerosol paints industry. Aerosol paints find versatile use in a range of architectural finishing applications, encompassing varnishes, primers, interior and exterior paints, as well as stains. Furthermore, these materials find application in architectural construction sites, encompassing residential, commercial and institutional buildings.

US possesses one of the most extensively developed building sectors globally. Based on data from US Census Bureau, the construction value in the country stood at US$ 19,78,700 million in 2023, reflecting a growth of over 7% in comparison to the previous year. Furthermore, as of February 2024, the number of privately owned dwelling units that were granted building permits was 1,518,000, showing a growth of 2.4% compared to the corresponding time in 2023.

Aerosol paints are commonly used for the purpose of making minor adjustments and repairs on architectural surfaces, including walls, ceilings and interior trims. They can facilitate the attainment of a uniform outcome, particularly in regions that present difficulties in terms of accessibility using conventional painting techniques. Moreover, aerosol paints are available in a wide range of colors and finishes, therefore enabling the personalization and artistic expression incorporated into building projects.

Geographical Penetration

Rising Usage in Various End-Use Industries in Asia-Pacific

It is anticipated that Asia-Pacific will exert dominance in the worldwide market. An increase in the use of aerosol paints in the area is being driven by rising consumption from industries including automotive, architecture, wood and packaging in nations like China, India and Japan. Aerosol coatings are employed in the automotive industry to provide protection and improve the visual appeal of vehicle surfaces and automotive original equipment manufacturer (OEM) components.

As a result of the vast range of applications and extensive use of aerosol coatings for touch-ups, customisation and detailing by consumers and automotive enthusiasts, the aftermarket demand for aerosol coatings exceeds that for production use. Based on data from OICA, the sales of passenger vehicles in China reached 26 million units in 2023, showing a growth of over 10% compared to 2022.

Similarly, the sales of commercial vehicles reached 4.03 million units, representing a growth of over 22% compared to 2022. Moreover, the overall vehicle sales in India totaled 5.07 million units in 2023, reflecting a growth of almost 7.5% in comparison to the previous year. Countrywide passenger car sales reached 4.1 million units, reflecting an 8.2% growth compared to 2022.

Competitive Landscape

The major global players in the market include Aeroaids Corporation, Akzo Nobel NV, BASF SE, Kobra Paint, Masco Corporation, Nippon Paint Holdings Co. Ltd, PPG Industries Inc., RPM International Inc., Rusta LLC and The Sherwin-Williams Company.

Russia-Ukraine War Impact Analysis

The ongoing crisis between Russia and Ukraine has significantly impacted the aerosol paints sector due to disruptions in the worldwide supply chain, particularly for crucial components such as propellants and solvents. Significantly, both Russia and Ukraine are key suppliers of chemicals and energy resources essential for the production of aerosol paints. As a consequence of the ongoing disagreement, the prices of these resources have risen, making production more expensive and less accurately predictable.

In addition, the implementation of trade restrictions and sanctions on Russia has intensified the pressure on supply chains, leading to shortages of vital components and subsequent delays in product availability.

Furthermore, the war has significantly increased energy expenses throughout Europe, which has had a direct impact on the production prices of aerosol paints. Given the dependence of numerous enterprises on natural gas and other energy sources, the escalated expenditures have resulted in elevated operational costs, therefore causing an increase in prices for consumers. The market difficulties, when coupled with a decreased emphasis on the building and automotive industries in the impacted areas, have decelerated the demand for aerosol paints in important markets.

By Resin

• Acrylic
• Epoxy
• Polyurethane
• Alkyd
• Other

By Technology

• Solvent-borne
• Water-borne

End-User

• Automotive
• Architectural
• Wood and Packaging
• Transportation
• Other

By Region

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Rest of Europe
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
• Middle East and Africa

Key Developments

• In February 2024, Nippon Paint India, a subsidiary of Nippon Paint Holdings Co. Ltd, entered into a long-term collaborative agreement with Snapdeal, an online retail platform. The arrangement stipulates that Nippon Paint India will provide its whole selection of aerosol spray paint, including the Pylac 1000 Rainbow series, for quick purchase on Snapdeal at a discounted price.
• In June 2023, PPG introduced six new modern hues and a revitalized product label for the Glidden Max Flex aerosol spray paint and primer from their range.
• In April 2023, Diamond Vogel completed the acquisition of N92 Menomonee Falls, LLC, a subsidiary of The Sherwin-Williams Company. As a result of this acquisition, Diamond Vogel will acquire the products facility and benefit from the specialized knowledge of the N92 Menomonee Falls, LLC, engineers in aerosol production. The objective of this strategic endeavor is to broaden the Diamond Vogel product range and strengthen its worldwide presence.
• In April 2022, Akzo Nobel N.V. introduced the Dulux Simply Refresh spray paint series, specifically designed for the Do-It-Yourself (DIY) paints segment. Through the incorporation of exclusive low splatter and low drop technologies, this readily available interior washable paint enables consumers to enhance the efficiency, cleanliness and waste reduction of their do-it-yourself projects.
• In November 2022, BRIOLF GROUP purchased ownership of the aerosol maker ARECO ITALIA S.P.A. The objective of the acquisition is to enhance its global market presence.

Why Purchase the Report?

• To visualize the global aerosol paints market segmentation based on resin, technology, end-user and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of the aerosol paints market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.

The global aerosol paints market report would provide approximately 62 tables, 56 figures and 205 pages.

Target Audience 2024

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies