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Impact of COVID-19 on Magnetic Paint Market : Implications on Business

Magnetic paint is a pre-mixed, lead free, and water based latex primer that can be coated with commonly available paints. Non-rusting magnetic particles are properly mixed with water based latex and applied on the walls by using a foam roller or brush. With magnetic paint, walls can serve as floor to ceiling magnetic play or workplace areas. Typical applications of magnetic paint include commercial, industrial, residential, educational, and medical facilities. Magnetic paint eliminates installation of expensive bulletin or cork boards. Artwork, posters, plans, and drawings can be hung with non-invasive magnets, saving the wear and tear that is normally associated with tapes and glue. It is recommended to apply several layers of magnetic paint in order to increase the magnetic effect of the paint. Magnetic paint does not create a magnetic field; as a result, it does not affect magnet-sensitive equipment including pacemakers, mobile phones, televisions, and computers. Proper surface preparation is considered an essential requirement for long-lasting finish. Magnetic paint can be coated with any color latex or enamel paint or wall paper.

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Growth in the interior design sector is one of the significant drivers of the global magnetic paint market. Consumers can affix picture frames, artwork, chalkboards, etc. to any surface. Thus, magnetic paints help home decorators to easily arrange and re-arrange items on wall surfaces without sticky adhesives or nails. Increase in demand from the commercial infrastructure is another key factor fueling the magnetic paint market. Most luxurious restaurants and apartments concentrate on improving the esthetic look with the usage of magnetic paints. Magnetic paint is regarded one of the best solutions for offices, conference rooms, studios, and hospitals .Magnetic paints are especially recommended for kindergartens and schools as a smart and secure alternative to needles and nails.

Based on application, the global magnetic paint market can be segmented into commercial, industrial, residential, educational, and medical facilities. In terms of substrate, the global magnetic paint market can be classified into wood, metal, glass, and plastics. Resins used for manufacturing magnetic paints can be primarily categorized into acrylic and epoxy resins.

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The global magnetic paint market expanded at a moderate pace in 2016. This trend is expected to continue during the forecast period. In terms of geography, the magnetic paint market can be segregated into Asia Pacific, North America, Europe, Middle East & Africa, and Latin America. The magnetic paint market in Asia Pacific is projected to expand at a significant pace owing to the rapid urbanization and infrastructure development in countries such as China, India, and those in the ASEAN sub-region. Demand for magnetic paints in North America and Europe is anticipated to remain attractive owing to the rise in demand from the interior design sector. In Europe, advancements in various technologies are expected to spur the market in the upcoming years. Rapid industrialization and developmental activities in Middle East & Africa, particularly in the construction sector, are likely to fuel the magnetic paint market in the region. Recovery in the architectural and hence the interior design sector in the next few years is projected to positively impact the magnetic paint market in Latin America.

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High degree of competition exists in the global magnetic paint market. Key players operating in the global magnetic paint market include IdeaPaint Inc., Kling Magnetics, Rust-Oleum, Smarter Surfaces U.K., and Juz Paint (SEA) Pte Ltd.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers’ or customers’ journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

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