The global magnetic paint market is prognosticate to showcase a positive growth trajectory in the years to come. According to a recent report by Transparency Market Research (TMR), the rising awareness regarding magnetic paint is propelling the global market. The report, titled, “Magnetic Paint Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2025,” elucidates on the structure of the market and discusses the factors influencing the magnetic paint market over the forecast period of 2017 to 2025. The report analyzes factors shaping the size and valuation of the market in the years to come, along with the significant industry trends that could impact the market.
Magnetic paint or primer is essentially the same as regular paint, except that small particles of iron dust are mixed in it. When you paint it on a surface, you end up with a layer of dark primer with many tiny flecks of iron spread throughout. Magnets are attracted to these bits and pieces of iron. 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 typically recommended to apply several layers of magnetic paint in order to increase the magnetic effect of the paint. Magnetic paint does not result in the creation of a magnetic field, and thus it does not affect magnet-sensitive equipment such as mobile phones, televisions, computers, and pacemakers.
Prominent applications of magnetic paint include commercial, industrial, residential, educational, and medical facilities. Magnetic paint diminishes the need for installation of expensive equipment such as cork boards or bulletin boards. The product’s cost-effectives is a key factor fuelling the growth of the global magnetic paint market.
The spiraling emergence of interior design as an industry is also slated to drive the global magnetic paint market in the years to come. Users are enabled to affix picture frames, artwork, chalkboards, etc. to any surface. Thus, magnetic paints help home decorators in easily arranging or re-arranging items on the surfaces of walls without the need of nails or sticky adhesives. Surge in demand from the commercial infrastructure is another prime reason fueling the magnetic paint market.
Considered on a geographical segmentation, the Asia Pacific magnetic paint market is expected to grow at a substantial rate on account of the booming infrastructure development and brisk urbanization in countries such as China and India. 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.
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The degree of competition between the vendors in the global magnetic paint market is steep at present, and is predicted to continue escalating in the coming years. 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.