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The acrylic resin market size is forecast to increase by USD 5.77 billion at a CAGR of 5.02% between 2023 and 2028.
The acrylic resin industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
The paints and coatings segment is estimated to witness significant growth during the forecast period.
Acrylic resins, derived from acrylic monomers, are synthetic polymers extensively utilized in various industries for painting and coatings applications. Acrylic monomers, including esters and monomers of acrylic and methacrylic acids, are the primary building blocks. These monomers can be functionalized with different chemical groups or incorporated into polymer chains for enhanced properties or cost reduction. Acrylic resins exhibit excellent chemical bonding, thermal stability, and weatherability, making them suitable for diverse applications. In the industrial sector, they are employed in solvent-based and water-based systems for coatings, adhesives, and sealants. In the architectural sector, they are used for decorative and protective coatings due to their high-temperature resistance and UV stability.
Moreover, acrylic resins are employed in engineering thermoplastics, ballistic materials, and impact modifiers. In ballistic applications, they are used for hard molded armor due to their oxidative stability and high-temperature polymerization. In the automotive industry, they are used for the production of automotive components, such as headlamp housings and bumper beams. In the solar energy sector, they are used for parabolic reflectors due to their high thermal stability and resistance to degradation. Acrylic resins also find applications in various other industries, such as electrical equipment, solar energy systems, and surfboards. They are used as thickeners, gel formation agents, and additives in various applications to enhance their properties.
Acrylic monomers, such as methacrylic ester monomers and acrylamide, are used as initiators and monomers in free-radical polymerization. Acrylic resins are also used in the production of fibre coatings, acrylic multipolymers, and acrylic polymers. They are used as binders in the production of handgun bullets and golf cars. Acrylic acid derivatives, such as MMA, cyanoacrylic acid, and styrenic plastics, are used as monomers and additives in the production of various polymers. Acrylic resins are essential in various industries due to their unique properties, such as chemical bonding, thermal stability, and weatherability. They are used in various applications, including coatings, adhesives, sealants, engineering thermoplastics, ballistic materials, and solar energy systems.
Acrylic resins are versatile and can be functionalized with various chemical groups to enhance their properties or reduce costs. They are also used as monomers and additives in the production of various polymers and materials.
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The Paints and coatings segment was valued at USD 7.59 billion in 2018 and showed a gradual increase during the forecast period.
APAC is estimated to contribute 50% 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.
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Acrylic resins, a type of synthetic polymer, are in high demand in the Asia-Pacific (APAC) region due to the increasing infrastructure development and construction projects. China, as the largest producer of automobiles and a leading manufacturer of paints and coatings, is a significant contributor to the market. India, Japan, Singapore, Thailand, Indonesia, and Vietnam are other major consumers of acrylic resins in APAC. Acrylic resins find extensive applications in various industries, including automotive components, solar energy systems, coatings, and ballistic materials. In the automotive sector, acrylic resins are used in the production of engineering thermoplastics, impact modifiers, and thermoplastic acrylic coatings.
In the solar energy industry, acrylic resins are used in the manufacturing of parabolic reflectors and photovoltaic panels. The demand for acrylic resins is driven by their excellent chemical bonding, thermal stability, oxidative stability, and weatherability. Acrylate polymers, such as methacrylates and acrylic acid derivatives, are commonly used in the production of acrylic resins. The market for acrylic resins is expected to grow due to the increasing demand for acrylic multipolymers, esters, and cyclobutanes in various applications. The production of acrylic resins involves high-temperature polymerization, free-radical polymerization, and the use of initiators, such as peroxide and nitrile initiators, and additives.
Acrylic resins are also used in the production of MMA, polyacrylates, SAN, and PVC. The market for acrylic resins is expected to grow due to the increasing demand for acrylic resins in various industries, including electrical equipment and golf cars.
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 acrylic resin 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 acrylic resin market 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, acrylic resin market forecast, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the industry.
Allnex GMBH - The company specializes in providing acrylic resins, including Solventborne Acrylics, marketed as SETALUX and MACRYNAL. These resins enhance the performance of polyurethane topcoats and clearcoats in diverse industrial and automotive applications, ensuring superior durability.
The industry research and growth report 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 industry 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 market encompasses a wide range of applications, driven by the versatility and unique properties of acrylic polymers. These polymers, which include acrylics, methacrylics, and other acrylate derivatives, exhibit excellent chemical resistance, thermal stability, and weatherability. Acrylic resins are used extensively in various industries, including automotive and transportation, solar energy, coatings, and engineering thermoplastics. In the automotive sector, they are employed in the production of automotive components, such as bumper systems, headlamp housings, and exterior trim. In the solar energy industry, acrylic resins are utilized in the manufacture of solar energy systems, specifically in the production of parabolic reflectors and encapsulant materials.
In the coatings sector, acrylic resins are used to produce thermoplastic acrylic coatings, which offer excellent adhesion, flexibility, and chemical resistance. These coatings are used in a variety of applications, including protective coatings for industrial equipment and architectural coatings for buildings. Acrylic resins are also used in the production of ballistic materials, including hard molded armor and ballistic molding applications. The high thermal stability and oxidative stability of acrylic resins make them ideal for these applications, where protection against high temperatures and impact is crucial. In the field of electronics, acrylic resins are used in the production of electrical equipment, including insulators and encapsulants.
The excellent electrical insulating properties of acrylic resins make them ideal for these applications. Acrylic resins are also used in the production of various types of fibre coatings, including those used in the textile industry. These coatings offer excellent chemical resistance and durability, making them ideal for use in the production of high-performance fabrics. The production of acrylic resins involves various processes, including free-radical polymerization, high-temperature polymerization, and chemical bonding. Initiators, such as peroxides and nitrile initiators, are used to initiate the polymerization process. The viscosity of the resin can be controlled through the use of additives, such as thickeners and gel formation agents.
Acrylic resins are also used in the production of various types of adhesives and sealants, including injectable systems and aqueous emulsions. These products offer excellent bonding properties and are used in a variety of applications, including construction and automotive manufacturing. Acrylic resins are also used in the production of various types of plastics, including styrenic plastics and PVC. Impact modifiers, such as linear unsaturated dimers and acrylamide, are used to improve the impact resistance of these plastics. Acrylic resins are also used in the production of various types of monomers, including methacrylic ester monomers and alkyl acrylates.
These monomers are used in the production of various types of polymers, including acrylic multipolymers and esters. The production of acrylic resins involves the use of various types of initiators, such as peroxides and nitrile initiators. The pH range of the reaction mixture is also important, as it can affect the polymerization process. Acrylic resins are also used in various applications where high thermal stability and UV stability are important, such as in the production of handgun bullets and golf cars. In these applications, the acrylic resins offer excellent resistance to heat and UV radiation, ensuring optimal performance and longevity.
In summary, the market is a diverse and dynamic industry, driven by the unique properties of acrylic polymers. These polymers are used extensively in various industries, including automotive, solar energy, coatings, electronics, and textiles, among others. The production of acrylic resins involves various processes, including free-radical polymerization, high-temperature polymerization, and chemical bonding, and the use of various types of initiators and additives. The versatility and performance characteristics of acrylic resins make them an essential component in a wide range of applications.
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Market Scope |
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Report Coverage |
Details |
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Page number |
179 |
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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 5.02% |
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Market growth 2024-2028 |
USD 5766.7 million |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
4.69 |
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Key countries |
China, US, Germany, Japan, and France |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
We can help! Our analysts can customize this acrylic resin market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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