Report : Middle East and Africa 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)
Fluid Acrylics Segment is Expected to be the Fastest Growing During the Forecast Period for MEA Region
According to a new market research study on “MEA 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$ 49.36 million by 2028 from US$ 42.38 million in 2021. The market is estimated to grow at a CAGR of 2.2% from 2021 to 2028. The report provides trends prevailing in the MEA artist grade acrylic paints market along with the drivers and restraints pertaining to the market growth. Ascent in number of professional artists and rising inclination toward fine arts and painting is the major factor driving the growth of the MEA artist grade acrylic paints market. However, issues associated with the availability of innovative/substitute products such as powder paints hinder the growth of MEA artist grade acrylic paints market.
The MEA artist grade acrylic paints market is segmented into product type, distribution channel and country. Based on product type, the MEA 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 MEA 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 South Africa, Saudi Arabia, UAE, and Rest of MEA.
South Africa recorded the highest COVID-19 cases in the MEA, followed by Saudi Arabia and the UAE. The UAE was the first country in the region to report the first confirmed case of COVID-19. Due to the lockdown in the MEA countries, the distribution network was significantly disrupted, which affected the sales of artist-grade acrylic paints. However, the circumstances are far better than earlier. The market is experiencing positive recovery signs, and the sales of consumer products have surged. The government of the UAE has eased out various restrictions and permitted various sales channels like supermarkets and hypermarkets, departmental stores, convenience stores to start their operations. These factors are projected to boost the sale of artist-grade acrylic paints in the MEA in the coming years.
Acrylicos Vallejo; Colart International Holdings Ltd.; Decoart, Inc.; Lukas; Pebeo; and Royal Talens BV are among the leading companies in the MEA 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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