The new work from home situation has certainly changed the lives of billions globally and let us not forget that even small changes in our daily life lead to bigger changes in the industry and market scenario. The aerosol paint market is one such business that has been impacted by the pandemic.
The aerosol paints market stands at a market size of 3941 million dollars and has a CAGR of about 3.9%. By the end of its forecast period, which is considerably up to 2028, this aerosol paint market is all set to reach 5238 million dollars market value globally.
Aerosol paints are the kind of paints manufactured with chemicals and then stored and made available in pressurized containers, in a wide range of colours and sizes. It is very extensively used in the automobile and construction sectors of the industries.
Some of the key names in the aerosol paint market across the world include Montana Colors S.L, Masco Corporation, Nippon Paint Holdings, Krylon Products Group, Kobra Paint, Aeroaids Corporation, and so on.
Now, the aerosol paints market is largely one that runs application based. However, apart from application-based classification, aerosol paints can also be subjected to multiple other ways of market segmentation. For instance, based on product material, it can be divided into water-based aerosol paint and solvent-based aerosol paint.
The solvent-based aerosol paint has remained more usable and it has accounted for 56% of the total global revenue generated from the aerosol paint market.
The solvent-based aerosol paint particularly uses some spirits when they are chemically produced and some of their characteristic features include being highly flammable, emitting toxic compounds on application, having a strong smell, and so on. All these factors demonstrate the reason behind its changing market scenario. As individuals and nations are growing more and more conscious about sustainable development goals and industries, they are taking too stringent environmental policies and picking the water-based aerosol paint over the solvent-based one. Water-based aerosol paints are much safer to use in a lot of ways and have sustainable manufacturing mechanisms.
Depending on end-use segmentation of the aerosol paint market, it can be divided into the construction sectors, automobile industries, wooden furniture, DIY (do it yourself) cases and so on. The application of aerosol paints is extremely diverse, which explains the boost in its growing market value.
Although the covid crisis has disrupted supply chain management, and especially harmed the construction businesses since 2020, it has had its negative impact on the aerosol paint market as well. However, one of the most important trends which have led to the growth of aerosol paints is the DIY trends which have incremented in the work from home situation.
A region-wise analysis reveals the Asia Pacific to be dominating in the aerosol paint market, holding 31.5% of the total shares.
This has been the consequence of a growth in per capita disposable income in developing regions. Other than that, DIY, automobile refinishing, and end-use industry growth continues to be the leading factors behind the growth of the aerosol paint market.
