Acrylic Resins Market Share, Size, Future Demand, Research, Top Leading player, Emerging Trends, Region by Forecast to 2028
According to the most recent analysis by Emergen Research, the worldwide acrylic resins market had a value of USD 15.98 billion in 2020 and is projected to grow at a rate of 5.4% during the forecast period. Some of the major factors propelling consistent revenue growth in the worldwide acrylic resins market include an uptick in construction activity around the world and a growing need for environmentally friendly formulations. Between 2021 and 2028, it is also anticipated that the growing number of smart city initiatives in developing nations will further boost market revenue growth.
For long-term sustainability, bio-based resin solutions must advance. Ensuring environmental sustainability is the main goal of developing sustainable or bio-based paints and coatings. The majority of coating raw materials are made from renewable or fossil fuel sources like coal, natural gas, and oils. The ecosystem is greatly harmed by greenhouse gas (GHG) emissions brought on by the improper use of these resources. Raw materials derived from plant biomass have advantages over their conventional counterparts.
Over the forecast period, however, strict government regulations are anticipated to somewhat restrain market growth for acrylic resins globally. Different governmental regulations and restrictions apply to the use of paints and coatings in different nations. As coatings laws change, businesses must modernise and modify their processes to meet the new requirements. Products that don’t adhere to the requirements can’t be sold. Acrylic resins are used in a variety of industries to address particular needs and lower emissions from particular formulae.
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Some Key Highlights from the Report
Revenue for the Acrylates segment is anticipated to increase over the course of the projected period at a very quick CAGR. The paint and coatings industry makes extensive use of acrylates chemistry. Alkyl acrylates and methacrylates homo and copolymers, which are sometimes combined with other thermoplastic compounds, make up these resins. These are typically applied in the construction and automotive industries as primary binders in coatings.
Over the projected period, the hybrid segment is anticipated to experience a considerably rapid revenue growth rate. Hybrid resins are being used more frequently in coating applications due to their higher performance characteristics like ultraviolet (UV) protection, glossy retention, and better adherence.
Over the course of the projection period, the Asia Pacific market is anticipated to have a higher revenue share than other regional markets due to expanding construction activity, rising disposable income, and advantageous home lending programmes in the region’s nations.
BASF SE, Dow Chemical Company, Arkema S.A., Mitsui Chemicals, Inc., Koninklijke DSM N.V., Showa Denko Materials Co., Ltd., DIC Corporation, Sumitomo Corporation, Mitsubishi Chemical Holdings Corporation, and Nippon Shokubai Co., Ltd. are a few of the well-known businesses mentioned in the market report.
Showa Denko Materials Co., Ltd. acquired a 50.0% share in Monterrey, Mexico-based AMI Automation in February 2021. AMI Automation provides diverse industrial industries with fully integrated automation and control solutions. A five-year option exists for Showa Denko to acquire the remaining 50.0% of AMI.
Emergen Research has segmented the global acrylic resins on the basis of type, form, chemistry, application, end-use, and region:
Type Outlook (Volume Tons, Revenue, USD Billion; 2018–2028)
Form Outlook (Volume Tons, Revenue, USD Billion; 2018–2028)
- Solvent Based
- Water Based
Chemistry Outlook (Volume Tons, Revenue, USD Billion; 2018–2028)
Application Outlook (Volume Tons, Revenue, USD Billion; 2018–2028)
- Adhesives & Sealants
- Paints & Coatings
- DIY coatings
End-Use Outlook (Volume Tons, Revenue, USD Billion; 2018–2028)
- Consumer goods
- Electrical & electronics
- Paper & Paperboard
Regional Outlook (Volume Tons, Revenue, USD Billion; 2018–2028)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
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