Report : Europe Artist Grade Acrylic Paints Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product Type (Fluid Acrylics, Heavy-Body Acrylics, and Others) and Distribution Channel (Supermarkets and Hypermarkets, Specialty Stores, Online Retail, and Others)
Supermarkets and Hypermarkets Segment to Dominate Europe Artist Grade Acrylic Paints Market during 2021–2028
According to a new market research study on “Europe Artist Grade Acrylic Paints Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Product Type and Distribution Channel” is expected to reach US$ 525.29 million by 2028 from US$ 353.63 million in 2021. The market is estimated to grow at a CAGR of 5.8% from 2021 to 2028. The report provides trends prevailing in the Europe artist grade acrylic paints market along with the drivers and restraints pertaining to the market growth. Growing demand for convenient, low-maintenance, and affordable artist paints is the major factor driving the growth of the Europe artist grade acrylic paints market. However, issues associated with the availability of innovative/substitute products such as powder paints hinder the growth of Europe artist grade acrylic paints market.
The Europe artist grade acrylic paints market is segmented into product type, distribution channel and country. Based on product type, the Europe artist grade acrylic paints market is segmented into fluid acrylics, heavy- body acrylics, and others. The heavy-body acrylics segment dominated the market in 2020 and fluid acrylics segment is expected to be the fastest growing during the forecast period. Based on distribution channel, the Europe artist grade acrylic paints market is segmented into supermarkets & hypermarkets, specialty stores, online retail, and others. The supermarkets & hypermarkets segment dominated the market in 2020 and online retail segment is expected to be the fastest growing during the forecast period. Based on country, the artist grade acrylic paints market is classified into Germany, France, Italy, UK, Russia, and Rest of Europe.
In Europe, France recorded the highest number of COVID-19 cases as of June 2021. Also, Russia, the UK, Italy, and Germany have been hit hard and are expected to suffer an economic hit due to the lack of revenue from various industries. European countries have implemented drastic measures and travel restrictions, including partially closing their borders. Furthermore, only supplying essential commodities during the lockdown had a negative impact on the profitability of several distribution channels that offer non-essential goods. Artist-grade acrylic paints fall under the category of non-essential goods. This scenario has hindered the growth of the artist-grade acrylic paints market in Europe. However, the artist-grade acrylic paints market is expected to witness significant growth in the coming years across Europe, owing to a rise in vaccination rates in the region, rapid market recovery, and product availability across various distribution channels.
Acrylicos Vallejo; Colart International Holdings Ltd.; Da Vinci Paint Co.; Daler-Rowney Ltd.; Decoart, Inc.; Lukas; Pebeo; Royal Talens BV; and Sennelier are among the leading companies in the Europe artist grade acrylic paints market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market.
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