Study Predicts 4.3% Growth in U.S. Non-Commercial Acrylic Paint Market in 2019
VALLEY COTTAGE, NY — According to a new study, demand in the United States for non-commercial acrylic paint is expected to remain sound over the coming years. The approximately $230 million market for non-commercial acrylic paint is expected to grow by 4.3% year-over-year in 2019. Future Market Insights (FMI) delivers key insights on the U.S. non-commercial acrylic paints market in its latest report, Non-Commercial Acrylic Paints Market: Varied Finishing Properties Witnessing High Preference for Artefacts & Decoratives: US Industry Analysis, 2013-2017 and Opportunity Assessment, 2018-2028.
The southern United States is cited as a prominent consumer market in the U.S. landscape of non-commercial acrylic paint, owing to a rich end-user base, with an above-average growth rate projected for the near future.
While heavy-body acrylics continue to gain the strongest traction, attributed to their strong colors, better coverage, and fast-drying times, the report indicates that their adoption will be more prominent in canvas- and paper-based applications. Non-commercial acrylic paint application on canvas accounts for over one-third of the total paint consumption, whereas that on paper and wood accounts for a combined share of more than 40%.
DIY Activities Are Providing a Significant Push in Market Growth
The study reports that the key applications of non-commercial acrylic paint across the United States include canvas, paper and wood. With the advent of DIY crafts and hobby activities, other substrates such as metal and ceramics are also likely to present a range of lucrative opportunities for the use of non-commercial acrylic paints. According to the report, the growth of non-commercial acrylic paints in the United States is attributed to the growth of DIY-based artifacts and finished products, and to considerable investments by academic institutions in skill development programs.
Apart from academic and commercial artifacts, non-commercial acrylic paints are gaining popularity in home interior design and additional design in terracotta and pottery items.
Over 60% Non-Commercial Acrylic Paint Consumed in the United States is Artist-Grade
FMI has separated the U.S. market for non-commercial acrylic paint into two commonly available grades – artist grade (high concentration of acrylic resin for slow drying) and student grade (low concentration of acrylic resin for fast drying).
Currently, more than three-fifths of the total consumption of non-commercial acrylic paint in the United States is artist-grade paint. However, the dramatically increasing number of students developing interest in painting and related career options will translate into relatively higher opportunities for student-grade non-commercial acrylic paint in the United States, the FMI analysis suggests.
The market share of offline sales channels in the U.S. non-commercial acrylic paint market is likely to remain dominant over that of online sales channels. However, the report also points to a growing revenue share of online stores, which is expected to outpace in terms of rate of growth over the coming years.
U.S. Non-Commercial Acrylic Paints Market: Vendor Insights
The non-commercial acrylic paints market in the United States is a fairly consolidated market, with the aggregate market share of tier-1 level established players more than half of the overall market value. The study predicts that aggressive marketing, product development, and consolidation of sales and service footprints will be the key developmental strategies of leading players in the U.S. non-commercial acrylic paints market.
For more information about the report, visit https://www.futuremarketinsights.com/reports/us-non-commercial-acrylic-paints-market.