Emulsion Paint Market Forecast 2024-2033: Size, Drivers, and Emerging Trends

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Overview and Scope

Emulsion paint is a water-based paint that combines pigments with acrylic or vinyl resins, providing a durable finish for interior and exterior walls. It is valued for its ease of application, low odor, quick drying time, and ability to provide a smooth, durable finish for interior and exterior surfaces.

Sizing and Forecast

The emulsion paint market size has grown strongly in recent years. It will grow from $10.98 billion in 2023 to $11.57 billion in 2024 at a compound annual growth rate (CAGR) of 5.4%. The growth in the historic period can be attributed to stricter laws governing VOC emissions, economic conditions, architectural trends, growing consumer demand for eco-friendly and sustainable coatings, demographic shifts, and infrastructure development.

The emulsion paint market size is expected to see strong growth in the next few years. It will grow to $14.47 billion in 2028 at a compound annual growth rate (CAGR) of 5.7%. The growth in the forecast period can be attributed to rising disposable income, rising awareness among consumers, a shift towards water-based paints, an increase in commercial space development activities, and improved lifestyle trends. Major trends in the forecast period include digitalization and e-commerce, rising partnerships, advanced application techniques, product innovation, and technological advancements.

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Segmentation & Regional Insights

The emulsion paint market covered in this report is segmented –

1) By Type: Interior Emulsion Paint, Water-soluble Paint, Antifouling Emulsion Paint, Antimicrobial Emulsion Paint, Other Types

2) By Technology: Waterborne, Solvent borne

3) By Distribution Channel: Offline, Online

4) By Application: Household, Commercial Space, Administrative Space, Entertainment Space

Asia-Pacific was the largest region in the emulsion paint market in 2023. The regions covered in the emulsion paint market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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Major Driver Impacting Market Growth

The rising real estate industry is expected to propel the growth of the emulsion paint market going forward. The real estate industry encompasses various activities related to buying, selling, renting, leasing, and developing property. It plays a significant role in the economy and is influenced by various factors such as demographics, economic conditions, government policies, and consumer preferences. The rise in real estate is increasing due to population growth, urbanization, economic development, infrastructure investment, and changing consumer preferences. Emulsion paint is widely used in real estate projects for interior and exterior applications and provides numerous benefits, including ease of application, rapid drying time, and a diverse selection of color choices. For instance, in February 2024, according to Eurostat, a Europe-based government agency, the average annual building production in the European Union and the euro region increased by 0.1% and 0.2%, respectively, compared to 2022. Therefore, rising real estate projects are driving the growth of the emulsion paint market.

Key Industry Players

Major companies operating in the emulsion paint market are BASF SE, The Sherwin-Williams Company, PPG Industries Inc., Sika AG, Akzo Nobel N.V., Nippon Paint Holdings Co. Ltd., RPM International Inc., Axalta Coating Systems Ltd., Asian Paints Limited, Valspar Corporation, Kansai Paint Co. Ltd., Jotun Group, DAW SE, Tikkurila Oyj, Behr Process Corporation, Berger Paints India Limited, DuluxGroup Limited, Benjamin Moore & Co., Dunn-Edwards Corporation, TOA Group, The Diamond Vogel Paint Company, Pacific Paint Philippines Inc., Kelly-Moore Paint Company Inc., Crown Paints Limited, MRF Limited, Hempel A/S, Paint Library Ltd.

The emulsion paint market report table of contents includes: