Acrylic Resin Market Analysis 2024-2032, Industry Size, Share, Trends And Forecast


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Acrylic resin Market

Acrylic resin is a type of thermoplastic or thermosetting plastic derived from acrylic acid, methacrylic acid, or their esters.

NEW YORK, BROOKLYN, UNITED STATES, June 25, 2024 /EINPresswire / -- IMARC Group's report titled "Acrylic Resin market Report by Type (Water-based, Solvent-based, and Others), Application (Paints and Coatings, Adhesives and Sealants, and Others), End User (Automotive, Building and Construction, Electronics, Packaging, and Others), and Region 2024-2032". The global acrylic resin market size reached US$ 21.4 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 31.4 Billion by 2032, exhibiting a growth rate (CAGR) of 4.2% during 2024-2032.

Factors Affecting the Growth of the Global Acrylic Resin Industry:

Versatile Applications:

Acrylic resins are highly versatile polymers that find extensive applications across various industries, driving their market growth. These resins are valued for their exceptional properties such as clarity, UV resistance, weatherability, and impact resistance. In the automotive sector, acrylic resins are used in clear coats and exterior parts due to their ability to maintain gloss and color stability over time. Similarly, in construction, they are employed in coatings, sealants, and adhesives for their durability and aesthetic appeal. Their versatility extends to consumer goods, where acrylic resins are used in packaging, appliances, and electronics for their high transparency and scratch resistance. The ability of acrylic resins to be formulated into different forms-liquid, powder, or emulsion-further enhances their applicability across diverse end-user industries, thereby fueling market demand.

Demand for Sustainable Materials:

With growing environmental concerns, there is a rising preference for acrylic resins as sustainable alternatives to traditional materials. Acrylic resins can be formulated to meet eco-friendly standards, offering low VOC (volatile organic compound) emissions and recyclability. This shift is particularly prominent in the coatings and paints industry, where manufacturers are replacing solvent-based formulations with water-based acrylic resins to comply with stringent environmental regulations. Moreover, acrylic resins contribute to energy efficiency in buildings when used in insulating coatings and reflective roof coatings, reducing the carbon footprint. The emphasis on sustainability across industries, coupled with the recyclability and durability of acrylic resins, is driving their adoption and expanding the market globally.

Construction and Infrastructure Development:

The rapid expansion of construction and infrastructure projects worldwide is a significant driver for the acrylic resin market. Acrylic resins are integral to modern construction materials due to their ability to enhance durability, weather resistance, and aesthetic appeal. In architectural coatings, acrylic resins are preferred for their excellent color retention and resistance to fading, contributing to the longevity of buildings and infrastructure. They are also used in adhesives and sealants for bonding applications where flexibility and strength are essential. The booming construction activities in emerging economies, coupled with renovation projects in developed regions, continue to propel the demand for acrylic resins. Furthermore, the increasing investments in urbanization, commercial buildings, and infrastructure upgrades further bolster the market growth for acrylic resins as essential components in construction materials and coatings.

Leading Companies Operating in the Global Acrylic Resin Industry:

Arkema S.A
BASF SE
DIC Corporation
Dow Inc.
Koninklijke DSM N.V.
Mitsubishi Chemical Corporation
Mitsui Chemicals Inc
NIPPON SHOKUBAI CO. LTD.
Showa Denko Materials Co. Ltd.
Solvay S.A.
Sumitomo Chemical Co. Ltd.


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Acrylic Resin Market Report Segmentation:

By Type:

Water-based
Solvent-based
Others

Water-based holds the largest position in the market as it can be utilized in several applications, including paints, coatings, adhesives, sealants, inks, and textiles.

By Application:

Paints and Coatings
Adhesives and Sealants
Others

Paints and coatings dominate the market due to their versatility, durability, and various advantageous properties.

By End User:

Automotive
Building and Construction
Electronics
Packaging
Others

Building and costruction accounts for the largest market share as these coatings provide protection and aesthetics to building surfaces.

Market Breakup by Region:

North America (United States, Canada)
Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa

Global Acrylic Resin Market Trends:

One of the most significant trends in the global acrylic resin market is the increasing demand in the paints and coatings sector. Acrylic resins are widely used in the formulation of paints and coatings due to their excellent durability, weather resistance, and aesthetic properties. The growing construction and automotive industries are major consumers of these products. Besides, advancements in polymerization technologies are significantly impacting the global acrylic resin market. Innovations in production processes, such as controlled radical polymerization and emulsion polymerization, have enabled the development of high-performance acrylic resins with enhanced properties.

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