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The acrylic polymer market size is estimated to grow by USD 7.92 billion at a CAGR of 4.45% between 2023 and 2028. The real estate and construction industry has experienced significant growth in recent years, driven by increasing demand for commercial and industrial spaces. One key sector contributing to this trend is the automotive industry, which is expanding its footprint through the establishment of new manufacturing plants and the expansion of existing ones. Companies and suppliers to the automotive industry are also growing, necessitating the development of larger facilities to meet the rising demand. This growth is expected to continue, providing opportunities for real estate investors and construction companies. The automotive industry's expansion is a positive sign for the economy, creating jobs and stimulating growth in related industries.
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Acrylic polymers, a type of thermoplastic, are widely used in various industries due to their excellent properties such as high impact strength, chemical resistance, and transparency. The global market is driven by the increasing demand from sectors like construction, automobile production, consumer goods, manufacturing, and others. In the construction industry, acrylic polymers find extensive applications in paints, coatings, adhesives, and building materials. In the automotive sector, they are used in the production of automotive components, particularly in the manufacture of PMMA and PVAc. The demand for acrylic polymers is also significant in the consumer goods sector, where they are used in the production of laundry detergents, dish washing liquids, and household cleaning products. The growing population and per capita income are key factors driving the demand for these products. Additionally, the hospitality industry, including hotels, restaurants, and food retail, also utilizes acrylic polymers for hygiene and cleanliness applications. The market is influenced by various factors such as crude oil prices and technological advancements. The market is segmented into PMMA, Sodium polyacrylate, PVAc, and others. The future growth of the market is expected to be driven by the increasing demand from end-use industries and the development of new applications. Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The growth in real estate and construction industry is notably driving market growth. The global construction industry is experiencing significant growth due to the increasing urban population and the resulting demand for quality infrastructure and buildings. According to Oxford Economics, the industry was valued at USD 10.7 trillion in 2020 and is projected to expand by USD 4.5 trillion over the next decade, reaching a total value of USD 15.2 trillion by 2030. China, India, the US, and Indonesia are anticipated to contribute approximately 60% of this growth. This expansion in the construction sector encompasses the development of office spaces, commercial complexes, and residential buildings. Moreover, the healthcare and hospitality industries are key sectors that require the use of acrylic polymers for various applications. These polymers play a crucial role in ensuring human health and environmental health by providing durable and sanitary surfaces in hospitals and hotels. In the building and construction sector, acrylic polymers are utilized in the production of environmentally sustainable and biobased products, such as phosphate-free detergents, which reduce ecological risk and comply with regulations like CPR and REACH. The detergent segment and dish washing segment are significant markets for acrylic polymers due to their ability to enhance cleaning efficiency and reduce VOCs. Thus, such factors are driving the growth of the market during the forecast period.
The increasing focus on bio-based and eco-friendly products is the key trend in the market. The global market is witnessing significant growth due to the increasing consumer awareness and preference for environmentally sustainable products. In various sectors such as healthcare, hospitality, and building and construction, there is a growing demand for acrylic polymers that pose minimal ecological risk. Bio-based acrylic polymers derived from renewable resources are gaining popularity, particularly in regions with stringent regulations, such as the US and Europe. These regulations promote the use of biobased products and phosphate-free detergents, which are less harmful to human health and the environment. The detergent segment and the dish washing segment are major consumers of acrylic polymers, and the trend towards eco-friendly and sustainable products is driving the demand for bio-based and low VOC (volatile organic compounds) acrylic polymers. REACH and CPR regulations are some of the key drivers for the adoption of environmentally sustainable acrylic polymers in Europe. Overall, the market for acrylic polymers is expected to grow steadily as the demand for sustainable and biobased products continues to rise. Thus, such trends will shape the growth of the market during the forecast period.
The stringent regulations affecting market growth is the major challenge that affects the growth of the market. Acrylic polymers, which include paints and coatings, are widely used in various industries such as healthcare, hospitality, and the building and construction sector. However, these products contain volatile organic compounds (VOCs) that pose risks to both human health and environmental health. The release of VOCs during the drying process of solvent-based coatings can lead to health issues like sick building syndrome and contribute to environmental concerns such as acid rain and global warming. Strict regulations, such as the European Union's REACH and the US's Consumer Product Safety Commission (CPR), are being implemented to limit the emission levels of VOCs. Additionally, there is a growing demand for environmentally sustainable and biobased products in the market. Phosphate-based detergents and other eco-friendly alternatives are gaining popularity in the industrial cleaning segment, including the detergent and dish washing segments. The acrylic polymer market faces challenges due to these regulations and the increasing ecological risk associated with VOCs. However, the market is expected to grow as research and development efforts focus on producing acrylic polymers with lower VOC content or alternative solvents. These developments will help the market maintain its growth trajectory while addressing the concerns of human health and environmental sustainability. Hence, the above factors will impede the growth of the market during the forecast period.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Arkema Group. - The company offers acrylic polymer coating resins for coatings, adhesives, inks, and construction products markets.
The market research and growth report also includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The paints and coatings segment is estimated to witness significant growth during the forecast period. Acrylic polymers, including PMMA (Polymethyl methacrylate), sodium polyacrylate, PVAc (Polyvinyl acetate), polyacrylamide, acrylic copolymers, acrylic emulsions, acrylic latex, and acrylic resins, are widely used in various industries due to their versatile properties. In the construction sector, they are employed as binders and additives in paints, coatings, and adhesives. In the automotive industry, acrylic polymers are used in automobile production for manufacturing automotive components.
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The paints and coatings segment accounted for USD 16.95 billion in 2018. In consumer goods, acrylic polymers find extensive applications in paints, coatings, textiles, building materials, and personal care products such as shampoos, lotions, and cosmetics. The healthcare sector utilizes acrylic polymers in medical devices, particularly in contact lenses and surgical implants. Acrylic polymers are also used in water-based and solvent-based paints and coatings, cleaning products like detergents, dish washing liquids, and laundry detergents. The increasing population and per capita income have led to a rise in demand for household appliances like washing machines, further increasing the demand for acrylic polymers in the laundry industry. The hospitality sector, including hotels, restaurants, and food retail, also uses acrylic polymers for hygiene and cleanliness purposes. The price of crude oil, a significant raw material in acrylic polymer production, influences the market dynamics. Despite the challenges, the market for acrylic polymers continues to grow, driven by their wide range of applications and benefits.
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North America is estimated to contribute 43% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. Acrylic polymers, including PMMA (Polymethyl methacrylate), sodium polyacrylate, PVAc (Polyvinyl acetate), polyacrylamide, acrylic copolymers, acrylic emulsions, acrylic latex, and acrylic resins, play a significant role in various industries such as construction, automobile production, consumer goods manufacturing, and more. In the construction sector, acrylic polymers are used as adhesives, coatings, and building materials. In automobile production, they are utilized as automotive components.
For consumer goods, acrylic polymers are used in paints, coatings, textiles, and various household applications. In the medical field, sodium polyacrylate is used in medical devices. Acrylic polymers are used in waterborne paints, coatings, and adhesives due to their low VOC (Volatile Organic Compounds) emissions. They are also used in water-based cleaning products such as laundry detergent, dishwashing liquid, and cleaning agents. With the increasing population and per capita income, the demand for acrylic polymers is expected to grow in sectors like hotels, restaurants, food retail, and household applications where hygiene and cleanliness are paramount. The price of crude oil, a primary raw material for acrylic polymers, influences their production costs. Overall, acrylic polymers contribute significantly to various industries and continue to be in high demand due to their versatility and performance benefits.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD Billion " for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
Acrylic polymers are a type of synthetic resins derived from acrylic monomers. These polymers are widely used in various industries, including construction, automobile production, consumer goods manufacturing, and more. In the construction sector, acrylic polymers are used as binders in adhesives, sealants, and coatings. In the automotive industry, they are used as components in automotive parts and as coatings for vehicles. In consumer goods, acrylic polymers find applications in paints, coatings, adhesives, textiles, and building materials. Acrylic polymers are also used in the production of acrylic fibers for textiles. In the medical industry, sodium polyacrylate and polyacrylamide are used in the production of medical devices. Acrylic polymers include acrylic copolymers, acrylic emulsions, acrylic latex, acrylic resins, water-based acrylic, and solvent-based acrylic. They are used in various applications such as cleaning, waterborne coatings, laundry detergents, dish washing, and hygiene products.
Further, the demand is driven by population growth and increasing per capita income. The increasing use of acrylic polymers in washing machines, hotels, restaurants, food retail, and household applications also contributes to the market growth. The price of crude oil, which is a raw material for acrylic polymers, can impact the market. Acrylic polymers are used in various forms such as PMMA, PVAc, and PAA. PMMA is used in construction, automotive, and electronics industries, while PVAc is used in adhesives, coatings, and textiles. Polyacrylamide is used in water treatment, paper manufacturing, and oil recovery. Acrylic copolymers, acrylic emulsions, acrylic latex, and acrylic resins are used in various applications based on their properties. Waterborne acrylic polymers are gaining popularity due to their environmental benefits over solvent-based acrylic polymers. The increasing demand for waterborne coatings and adhesives is expected to drive the market for waterborne acrylic polymers. The increasing demand for cleaning products and hygiene products is also expected to boost the market for acrylic polymers.
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Market Scope |
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Report Coverage |
Details |
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Page number |
144 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 4.45% |
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Market growth 2024-2028 |
USD 7.92 billion |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
4.36 |
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Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
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Performing market contribution |
North America at 43% |
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Key countries |
US, China, Japan, Germany, and UK |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Anhui Newman Fine Chemicals Co. Ltd., APL, Arkema Group., Ashland Inc., BASF SE, Chemipol SA, Dow Chemical Co., Gellner Industrial LLC, Kamsons Chemicals Pvt. Ltd., Maxwell Additives Pvt. Ltd., MCTRON Inc., NIPPON SHOKUBAI CO. LTD, Nouryon, Protex International, Solvay SA, STI Polymer, Sumitomo Seika Chemicals Co. Ltd., The Lubrizol Corp., Toagosei Co. Ltd., and Weifang Ruiguang Chemical Co Ltd. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the market forecast period |
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Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Opportunity/Restraints
10 Competitive Landscape
11 Competitive Analysis
12 Appendix
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