The artist grade acrylic paints market in SAM is expected to grow from US$ 49.96 million in 2021 to US$ 67.03 million by 2028; it is estimated to grow at a CAGR of 4.3% from 2021 to 2028.
Acrylic paints are gaining massive popularity among professional artists due to their fast drying and long-lasting properties. Oil paints take a long time to dry. It could take days for the pigment to be fully set. However, acrylic paints dry out quickly and minimize the hassle. Moreover, oil paints have poor light fastness. Light fastness defines how fast a pigment fades when exposed to light. Oils and acrylics react to light in distinct ways. Oil paints fade over time. The pigment becomes duller with time, and the oil binder shows through. However, acrylic colors do not fade over time. Therefore, paintings painted using acrylic paints look more visually bright and appealing than those painted with oil paints. Acrylic paints are popular among artists because of their vibrant hues. Acrylics paints have the potential to adhere to a variety of surfaces, including paper, canvas, wood, glass, and a variety of other materials, such as hobby models. Moreover, different mediums can be employed to modify the binding properties of acrylic paints, making them more flexible and durable than oil paints. All these properties of acrylic paints are boosting their popularity among artists across the region; thereby driving the artist-grade acrylic paints market.
Brazil reported the highest number of COVID-19 confirmed cases, followed by Argentina, Peru, Chile, and Ecuador. Governments in South America have taken an array of actions to protect their citizens and contain the spread of novel coronavirus. It is anticipated that SAM will face lower export revenues in the coming months, both from the drop in commodity prices and reduction in export volumes—which are important trade partners. Containment measures in several countries of SAM would reduce economic activity in the manufacturing and service sectors for at least the next quarter of 2020, with a rebound once the pandemic is contained. These factors affected the growth of the artist-grade acrylic paints market in SAM. However, as the economies are recovering from losses, the artist-grade acrylic paints market is also projected to witness positive growth across the region in the next few years.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the artist grade acrylic paints market. The SAM artist grade acrylic paints market is expected to grow at a good CAGR during the forecast period.
SAM Artist Grade Acrylic Paints Market Revenue and Forecast to 2028 (US$ Million)
SAM Artist Grade Acrylic Paints Market Segmentation
SAM Artist Grade Acrylic Paints Market – By Product Type
- Heavy-Body Acrylics
- Fluid Acrylics
- Others
SAM Artist Grade Acrylic Paints Market – By Distribution Channel
- Supermarkets & Hypermarkets
- Specialty Stores
- Online Retail
- Others
SAM Artist Grade Acrylic Paints Market- By Country
- Brazil
- Argentina
- Rest of SAM
SAM Artist Grade Acrylic Paints Market-Companies Mentioned
- Acrylicos Vallejo
- Decoart, Inc.
- Lukas
- Pebeo
- Royal Talens BV