Global Aerosol Paints Market Size and Share Outlook - Forecast Trends and Growth Analysis Report (2024-2032)

Aerosol Paints Market Overview

Aerosol paint is also known as spray paint. Aerosol paint is a paint that is available in a sealed and pressurised container that can be released in the form of a spray after the valve is pressed. It leaves a smooth even coat on the applied surface and is easily available in standard-sized cans that are easy to carry, store and affordable.

The fast-growing construction industry is majorly driving the growth of the aerosol paints market. Aerosol paints find their application in diverse architectural coatings such as interior and exterior paints, primers, sealers, varnishes, and stains. These can be applied on the site of all kinds of architectural buildings including residential, commercial, and industrial. Aerosol paints provide distinct cost and visual advantages over conventional paints when used on a small scale. This is providing impetus to the growth of aerosol paints in the construction industry. The automotive industry is also increasingly demanding aerosol paints with the growing demand for automobiles across the world.

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Aerosol Paints Market Trends

Shift Towards Eco-Friendly Products

There is a growing demand for eco-friendly aerosol paints, particularly water-based formulations that have lower volatile organic compound (VOC) emissions. This trend of aerosol paints market is partly a response to stringent environmental regulations aimed at reducing harmful emissions from traditional solvent-based paint. For instance, the European Union VOC Solvents Emissions Directive (SED) sets strict emission limits for VOCs in industrial activities, including the paint and coating sector. It mandates the use of low-VOC or zero-VOC solvents where feasible, aiming to significantly reduce VOC emissions from manufacturing processes and improve air quality across member states.

Manufacturers are increasingly focusing on developing sustainable products to meet consumer preferences for environmentally friendly options. For example, Rust-Oleum has introduced various eco-friendly products, including low-VOC and water-based aerosol paints. Their commitment to sustainability is reflected in their product lines that minimise environmental impact while maintaining high performance.

New Advancements in Aerosol Paints

Innovations in aerosol paint technology are enhancing product performance and application ease. As per the aerosol paints industry analysis, new formulations are being developed that allow for better finishes and quicker drying times, making them more appealing for both professional and DIY users.  In April 2022, Akzo Nobel launched the Dulux Simply Refresh spray paint collection, which features low splatter and low drip technology. This product is designed for DIY enthusiasts, allowing for a cleaner painting process with reduced waste, thus improving user experience while maintaining high-quality results.

Additionally, In June 2022, BEHR introduced its BEHR PREMIUM Spray Paint, which combines primer and paint capabilities in a single can. This innovation simplifies the painting process for users by providing a durable and high-quality finish for both indoor and outdoor applications, streamlining the workflow for home improvement projects.

Industry News

July 2024

GDB International acquired the Despray DS500 aerosol recycling system, enabling them to fully recycle aerosol paint cans, including metal, liquid contents, and propellant gases. This positions GDB International as a leader in sustainable paint recycling.

February 2024

Nippon Paint India announced a long-term partnership with the e-commerce platform Snapdeal to offer its range of aerosol spray paints online. This collaboration aims to enhance accessibility for consumers, allowing them to purchase Nippon Paint's complete range of aerosol spray paints.

Opportunities in Aerosol Paints Market

The market is also seeing a rise in demand for customised aerosol paint solutions, including a variety of colours, textures, and finishes. This trend caters to the growing consumer desire for personalised products in both artistic endeavours and home improvement projects, boosting the demand of aerosol paints market. For instance, RAL Aerosols provides customised spray paints that can be mixed to any desired colour. They offer a full range of colours from RAL, British Standard, and Pantone, allowing customers to achieve an accurate colour match with a high level of precision (90%-100%). Their products are available in various finishes, including matte, satin, semi-gloss, and full gloss.

Moreover, DC Paint Solutions is another company which focuses on bespoke aerosol sprays made fresh on the day of order to meet specific customer requirements. They provide an adjustable nozzle that allows users to tailor the spraying area from 2 to 12 inches, enhancing application ease and efficiency.

Aerosol Paints Market Restraints

Increasingly strict regulations concerning volatile organic compound (VOC) emissions pose significant challenges for aerosol paint manufacturers. Compliance with these regulations requires investments in research and development to create low-VOC or VOC-free formulations, which can be costly and time-consuming, impacting aerosol paints demand. Non-compliance can lead to legal liabilities, fines, and restrictions on market access, ultimately affecting profitability and competitiveness in the market. For instance, the U.S. Environmental Protection Agency (EPA) has established national VOC emission standards for aerosol coatings under the Clean Air Act. These standards require manufacturers to control VOC emissions from aerosol products to reduce their contribution to ground-level ozone formation.

Fluctuations in the prices of key raw materials, such as resins, solvents, and propellants, can disrupt production costs and squeeze profit margins for manufacturers. Recent increases in the prices of epoxy and polyester resins due to supply chain disruptions have created uncertainty in the market.

Aerosol Paints Market Dynamics

There is a rising interest in do-it-yourself (DIY) projects, leading more individuals to use aerosol paints for home improvements and crafts due to their convenience and ease of use. Aerosol paints are being widely used for various DIY applications, including modernising furniture, painting gates and fences, and creating murals, which increases aerosol paints market opportunities. Their ability to provide a smooth, even finish without the need for brushes makes them particularly appealing for home improvement projects. Consumers can easily apply aerosol paints to revitalise worn-out surfaces or create artistic expressions on walls.

Moreover, retailers such as Home Depot reported significant growth in paint sales during the pandemic period, reflecting the rising popularity of DIY activities, which offered lucrative opportunities for market growth.

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Aerosol Paints Industry Segmentation

“Aerosol Paints Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:

Market Breakup by Technology

• Water-borne
• Solvent-borne

Market Breakup by Resin

• Acrylic
• Epoxy
• Polyurethane
• Alkyd
• Others

Market Breakup by End Use

• Automotive
• Construction
• Wooden Furniture
• Others

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Aerosol Paints Market Share

By Technology Insights

Solvent-based products currently hold the largest aerosol paints market share as these paints are favoured for their fast-drying properties, excellent adhesion, and durability, making them popular in industries such as automotive and construction. Meanwhile, water-based aerosol paints are experiencing rapid growth and are projected to become increasingly popular due to their eco-friendly nature and lower health risks. These products are composed of latex resins and are easier to handle, contributing to their rising demand among environmentally conscious consumers.

By Resin Insights

Alkyd resins hold the highest market share among the various types of resins used, including acrylic, epoxy, polyurethane, and others. Alkyd resins are favoured for their ease of application, high gloss finish, and durability, making them particularly popular in both industrial and consumer applications. Their ability to dry quickly and provide a smooth finish also contributes to their rising demand and boosts the aerosol paints demand growth.

By End Use Insights

The construction sector holds the highest market share due to the increasing demand for aerosol paints in various construction applications, including residential and commercial buildings, infrastructure projects, and DIY renovations. The characteristics of aerosol paints, such as quick drying times, ease of application, and high-quality finishes, make them particularly suitable for both new constructions and refurbishments.

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Aerosol Paints Market Regional Insights

Europe Aerosol Paints Market Opportunities

In Europe, the market is growing due to stringent environmental regulations that have led to the development of eco-friendly, water-based aerosol paints. The region's emphasis on green building initiatives has increased the demand for sustainable aerosol paint products and impacted the aerosol paints market dynamics and trends. The EU Green Buildings Pact aims to enhance the sustainability of buildings across Europe by improving energy efficiency and reducing greenhouse gas emissions. The initiative seeks to double the renovation rates of buildings by 2030, targeting around 35 million buildings for improvement.

North America Aerosol Paints Market Trends

The paints market is expanding, driven by the presence of major manufacturers and a strong trend in do-it-yourself (DIY) activities for home and vehicle refurbishments. The U.S. market, in particular, benefits from a high demand for customised vehicles, which often utilise aerosol paints for aesthetic enhancements, boosting the aerosol paints market value.

The regional market will grow significantly due to the presence of key players in the United States and the rise in home and automotive refurbishing activities. For instance, Sherwin-Williams is a major player which not only provides traditional paint products but also offers a variety of aerosol options that cater to both residential and commercial markets, further driving growth in the sector.

Asia Pacific Aerosol Paints Market Drivers

This region has been dominating the market share in the past and is expected to continue its strong growth as the leading market in the upcoming years, increasing the aerosol paints market revenue. This is due to the rapid rise of the end-use industries in the region and the constantly increasing population base with growing household incomes and urbanisation in developing economies like India and China.

The Indian government has been promoting affordable housing schemes such as the Pradhan Mantri Awas Yojana (PMAY), which aimed to provide housing for all by 2022. As urban populations grow, the demand for housing increases, leading to significant construction activities where aerosol paints are extensively used.

Middle East and Africa Aerosol Paints Market Dynamics

The Middle East region will also witness growth in the following years because of increasing industrialisation with strong domestic and foreign investments. The Middle East and Africa are experiencing growth in the market due to increasing industrialisation and urban development. Cairo has been undergoing significant urbanisation, with efforts to address housing shortages and improve infrastructure, which can boost the growth of the aerosol paints industry. The Egyptian government has initiated projects to develop new urban communities on the outskirts of Cairo to alleviate congestion in the city center. These developments include residential areas, commercial centres, and improved transportation networks.

The construction boom in countries like the United Arab Emirates and Saudi Arabia has led to a higher demand for aerosol paints for both protective and decorative purposes.

Latin America Aerosol Paints Market Growth

In Latin America, economic growth and infrastructure development are driving the demand for aerosol paints. Major airport expansions, such as the ongoing upgrades at El Dorado International Airport in Colombia, are noteworthy. These developments require significant amounts of paint for both aesthetic and protective purposes, driving demand for high-quality aerosol products. The region's expanding construction sector and the popularity of DIY projects contribute to the aerosol paints industry revenue.

Projects such as the Atotonilco de Tula wastewater treatment plant in Mexico exemplify public-private partnerships (PPPs) aimed at improving water quality. These facilities require extensive painting for both functional and aesthetic purposes, contributing to the demand for aerosol paints.

Innovative Aerosol Paints Startups

Startups in the market are focusing on innovation and sustainability to capture growing consumer interest and respond to environmental concerns. Many are developing eco-friendly formulations that minimise volatile organic compound (VOC) emissions, aligning with increasing regulatory pressures and consumer preferences for greener products which can impact aerosol paints demand forecast. Additionally, startups are leveraging technology to enhance product functionality, such as creating spray paints with improved application mechanisms or customisable colour options.

Kamdhenu Natural Paints

This Indian startup specialises in eco-friendly paints, notably its Khadi Prakritik Paint, which is made from natural ingredients, including cow dung. This innovative approach not only promotes sustainability but also offers health benefits, as the paint is free from harmful chemicals and VOCs.

Eco Paints

Another emerging player, Eco Paints focuses on producing sustainable aerosol paints that comply with stringent environmental regulations. The startup emphasises the use of low-VOC formulations and recyclable packaging to minimize its ecological footprint.

Competitive Landscape

The report gives a detailed analysis of the following key players in the aerosol paints market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds. Key players are focusing on developing eco-friendly products, particularly water-based aerosol paints, which are gaining traction due to their low volatile organic compound (VOC) emissions and environmental benefits. Additionally, manufacturers are expanding their product lines to include specialty paints that cater to unique consumer needs, such as custom colours and finishes for DIY projects.

Key Industry Players

Nippon Paint Holdings Group

Nippon Paint Holdings Group is a leading paint and coatings manufacturer based in Japan. Established in 1881, it has grown to become one of the largest paint companies in Asia and operates globally.

Aeroaids Corporation

Aeroaids Corporation is a private company based in India, established in 1990. It specialises in manufacturing and exporting a variety of chemical products, particularly aerosol spray paints, glass cleaners, dashboard shiners, UV protectors, and liquid car polish.

Krylon Products Group

Krylon Products Group is a well-known American brand under the Sherwin-Williams Company that specialises in spray paints and coatings. Founded in 1947, Krylon is recognised for its innovative products that cater to both DIY consumers and professional painters.

Other major players in the market are RPM International Inc. and PPG Industries, Inc, among others.

Recent Developments

April 2023

Rust-Oleum introduced the Custom Spray 5-in-1, a spray paint that allows users to switch between different spray patterns with a simple click, enhancing versatility for various projects.

August 2022

The U.S. Environmental Protection Agency (EPA) announced that it has amended the National Volatile Organic Compound Emission Standards for Aerosol Coatings, aiming to reduce environmental impact by setting stricter limits on VOC emissions from aerosol paints.