Alkyd Segment to dominate North America Aerosol Paints Market during 2020–2028

 According to a new market research study on “North America Aerosol Paints Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Raw Material, Technology, and Application,” is expected to reach US$ 1,100.08 million by 2028 from US$ 849.19 million in 2021. The market is estimated to grow at a CAGR of 3.8% from 2021 to 2028. The report provides trends prevailing in the North America aerosol paints market along with the drivers and restraints pertaining to the market growth. Raising use of aerosol paint in DIY activities, up-lifting demand from automotive industry, and increasing innovations for packaging of aerosol paints are the major factor driving the growth of the North America aerosol paints market. However, strict regulations pertaining to use of aerosol paints hinder the growth of North America aerosol paints market.

The US has the highest number of confirmed cases of coronavirus, as, compared to Canada and Mexico. This is negatively impacting the consumer goods industry in the region as the COVID-19 outbreak negatively affects the supply and distribution chain. The unavailability of raw materials due to lockdown in many raw material supplying countries has halted the production. Due to the growing number of cases in North America, many ongoing projects considered essential by the government authorities were not stopped, but new residential construction licenses were suspended. In addition to this, with the World Health Organization declaring the COVID-19 outbreak a pandemic, an unprecedented global disruption is at hand. Automobile and component manufacturing plants are being shuttered worldwide, consumer footfalls in showrooms have fallen sharply, vehicle sales are dropping dramatically, and almost every major industry event is either cancelled or going the digital way. Henceforth, the demand for aerosol paint is experiencing a negative impact owing to the said factors.

The North America aerosol paints market is segmented on the basis of raw material, technology, application, and country. Based on raw material, the market is bifurcated into acrylic, alkyd, epoxy, polyurethane, and others. In 2020, alkyd segment held the largest share in the market and acrylic is expected to be the fastest growing segment during the forecast period. Based on technology, the aerosol paints market is segmented into solvent-borne, water-borne, and others. In 2020, solvent-borne segment held the largest share in the market and water-borne segment is expected to be the fastest growing segment during the forecast period. Based on application, the aerosol paints market is bifurcated into construction industry, automotive and transportation, wood and furniture industry, packaging, and others. In 2020, the construction industry segment held the largest share in the market, and the automotive and transportation segment is expected to be the fastest growing segment during the forecast period Similarly, based on country the market is segmented into the US, Canada, and Mexico. In 2020, the US held the largest share in the market whereas Mexico is expected to be the fastest growing country during the forecast period

The Sherwin-Williams Company; Kobra Paint - Spray Art Technologies; Montana Colors S.L.; Nippon Paint Holdings Co., Ltd; PPG Industries Inc.; Rust Oleum; Masterchem Industries LLC; Plutonium Paint; and AVT Paints Pty Ltd are among the leading companies in the North America aerosol 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. For instance, Montana Colors S.L. extended its product line of MTN PRO spray paints by adding four new products including the Marble Effect Paint, the Paint for Bathtubs and Tiles, the Radiator Paint and the Luminous Paint.

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