Project report for Acrylic Paint

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Acrylic paint is a fast-drying paint made of pigment suspended in acrylic polymer emulsion and plasticizers, silicon oils, defoamers, stabilizers, or metal soaps. Most acrylic paints are water-based, but become water-resistant when dry. The technical advances in the end-use application of acrylic paints are key factors in the growth of the industry in India. The scope of application of acrylic paints is expanding with an increasing number of compatible media. Acrylic paint can be applied to paper, canvas, walls and several other surfaces. R&D of high-performance acrylic paint bonds is one of the main competitive differentiation strategies. Significant players are using market intelligence such as customer preferences and geographic analysis to build research and development activities. It fuel the market growth of the industry.

Depending on how much the paint is diluted with water, or modified with acrylic gels, mediums, or pastes, the finished acrylic painting can resemble a watercolor, a gouache, or an oil painting, or have its own unique characteristics not attainable with other media. the paint manufacturing industry moved away from the old tried and true methods of making linseed oil paint and began heavily promoting chemical, petroleum and solvent based paints. With the awareness of danger of petroleum products in the environment, we are entering a new period for the painting industry. Major difference in modern paint is the change in the binder form the used natural boiled linseed oil to alkyd oil, which is generally derived from Soybean and Safflower oil. Use of synthetic resins, such as acrylics and epoxies, has become prevalent in paint manufacture in the last 30 years. Acrylic resin emulsions in latex paints with water thinner have also become common.


Market potential & Strategy

The global paints and coatings market size was valued at INR 10,88,55,47,610 in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 4.3% from 2020 to 2027. The increasing popularity of new models offering better finishing and textures, the per capita income of people and efforts on the part of manufacturers to introduce improved versions such as eco-friendly, odor-free and dust-proof paints and water-proof paints have stimulated the growth of the painting application. Over the years, this evolving preference has boosted the popularity of acrylic paintings among artists. In addition, the excellent properties of acrylic paint extend their acceptance among artists worldwide. Acrylic paints are low-maintenance mediums that do not require customized supplies such as traditional oil paints. They deliver the benefits of better quality and texture. The flexible nature of acrylic paints makes them the perfect medium for artists to paint on various styles of paintings. Artists are the main users of acrylic paint. Currently, the industry has been affected by COVID-19 pandemic. The pandemic has changed all the market conditions and hampers the growth of the various sectors of the Acrylic Paint market.

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