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The acrylic resin market size is forecast to increase by USD 5.48 Billion at a CAGR of 5% between 2022 and 2027. The growth of the real estate and construction industry is driving the expansion of the market for resin production and polymer materials. These products serve as common and widely utilized architectural paints in construction and structural applications, catering to the increasing demand for office space, commercial complexes, and residential buildings spurred by the global real estate and construction industry growth.
A significant trend in the market is the rising demand for acrylic resins within the automotive industry, contributing to the growth of thermoplastic acrylic polymerization. Acrylic resins, predominantly based on methacrylate monomers, are utilized for coating and protecting metallic surfaces in automobiles, offering shiny coatings with seamless appearance and excellent protection. This resin production also finds applications in adhesives, emulsions, acrylic sheets, and paint manufacturing, serving various industrial needs within the plastic industry and construction materials sectors.
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The paint and coatings segment is estimated to witness significant growth in market forecasting. This is mainly used for painting and coatings. Acrylic resin is a type of polymer that includes acrylic monomers. These monomers are usually in solvents (solvents) or solvents (solid solvents).
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The paint and coatings segment was the largest segment and was valued at USD 7.31 Billion in 2017. This is one of the most widely used resins in latex paint. Better stain protection is achieved by increasing the percentage of it in latex paints, better water resistance, advanced adhesion, and better cracking and blistering resistance compared to other chemical formats of paint materials. The Acrylic Resin is extremely resistant to the elements and can be used outdoors.
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APAC is estimated to contribute 51% 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. China, India, Japan, Malaysia, Thailand, Indonesia, and Vietnam are the leading consumers of this in APAC. China is the biggest regional contributor to the market, as the largest automotive producer in the world and one of the biggest manufacturers of paints and coatings for a wide range of industries, it is well placed to meet this demand, such as aerospace, architecture, automobile, and construction. The housing market in APAC is booming thanks to government initiatives. Hence, if countries in Asia-Pacific are working together to promote housing and residential construction, it is likely that wood will be used more as a component of construction and building in accordance with that this product will be in high demand for construction, paint, and coating during the forecast period.
The Acrylic Resin Market is witnessing significant growth driven by several key factors. The demand for solvent-based resins and water-based resins is on the rise, fueled by their versatile applications in coating formulations, paint additives, and acrylic adhesives. Polymer emulsions and acrylic polymers play crucial roles in enhancing resin properties and film forming capabilities, catering to diverse coating applications. However, challenges persist, including concerns regarding the polymerization process, coating durability, and waterproofing materials. Despite these challenges, market growth analysis suggests a promising trajectory, spurred by innovations in binder systems, resin dispersion technologies, and the continuous evolution of plastic manufacturing processes. Adapting to these trends while addressing challenges will be pivotal for stakeholders navigating the dynamic acrylic resin market landscape.
The growth of the real estate and construction industry is driving the market. For construction and structural applications, polymer films are among the most common and widely used architectural paints. This demand surge is propelled by the increasing demand for office space, commercial complexes, and residential buildings, fuelled by the expansion of the global real estate and construction industry.
Rapid urbanization and significant investment in infrastructure development are fostering the construction industry in developing economies. These polymer films offer benefits such as allowing roofs to expand and contract, thereby preventing water intrusion during thermal fluctuations. Several factors are set to accelerate the expansion of the global market from 2023 to 2027.
Chemical compounds play a vital role in paint manufacturing and resin production for industrial applications. Emulsion polymers and acrylic polymerization are integral processes in the production of coating materials utilized in construction materials and adhesives. Additionally, polymer-based products, including acrylic sheets, cater to various industrial and construction needs. Raw materials sourced from resin suppliers are pivotal in solvent-based resin production, crucial for the plastic industry.
The increasing demand for acrylic resins in the automotive industry is a major trend in the market. As a material for coat and protecting metallic surfaces with varnish and paints, these are used in the automobile industry. They are mostly based on methacrylate monomers. One of the advantages of methacrylate monomers is that they provide shiny automotive coatings with a seamless appearance and are also useful for great protection.
They are also useful in the production of different automotive products, such as headlamp lenses, instrument panels, taillights, and trim components. Due to the durability and impact-resistant of acrylic resin, they are in great demand. It is expected that the demand for acrylic resin in the automotive industry and thereby drive global market growth and forecasting during the forecast period.
The fluctuation in raw material prices is a major challenge in the market. The type of thermoplastic plastic material is acrylic resin. They is usually composed of acrylic acid, methacrylic acid, and acrylate monomers such as butyl acrylate and methacrylic monomers such as methyl methacrylate.
In order to produce acrylic resins at an industrial level and in large quantities, raw materials are also required in enormous amounts. Unpredictability on the market, reduced production costs, and a decrease in vendor's profit margins are brought about by price fluctuations of basic materials. Therefore, crude oil price volatility is expected to have a negative influence on the growth of the market during the forecast period.
The market research 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 growth strategies.
Global Acrylic Resin Market Customer Landscape
The Acrylic Resin Market continues to thrive with its versatile applications across various industries. Resin production remains a cornerstone, driving the supply chain for acrylic polymerization. These resins serve as essential coating materials in the plastic industry and are integral to construction materials and adhesives.
Embracing both solvent-based and water-based formulations, acrylic resins offer exceptional chemical resistance and UV resistance, making them ideal for industrial applications and paint manufacturing. Resin suppliers play a crucial role in catering to diverse needs, ensuring quality and consistency.
From polymer coatings to surface coatings, acrylic resins exhibit superior adhesive properties and coating performance. Their architectural coatings and building materials applications are renowned for their durability and waterproofing capabilities.
With advancements in coating technology and resin chemistry, acrylic sealants and protective coatings deliver optimal resin solutions for various challenges. Whether it's corrosion protection or surface treatment, acrylic resins stand out for their resin composition and film-forming abilities, making them indispensable in modern industries.
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.
Allnex GMBH - The company offers products such as Solventborne Acrylics under its trade names SETALUX and MACRYNAL, which deliver tough, durable polyurethane topcoats and clearcoats for a tremendous variety of industrial and automotive applications.
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market 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 market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Acrylic Resin Market Scope |
|
Report Coverage |
Details |
Page number |
177 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5% |
Market growth 2023-2027 |
USD 5.48 billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
4.55 |
Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
Performing market contribution |
APAC at 51% |
Key countries |
US, China, Japan, Germany, and France |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Allnex GMBH, Anhui Elite Industrial Co. ltd., Arkema Group, BASF SE, CHANSIEH ENTERPRISES CO. LTD, Chevell Performance Material Group, Covestro AG, DIC Corp., Dow Chemical Co., Eternal Materials Co. Ltd., Evonik Industries AG, Formula Chemicals Inc., Henkel AG and Co. KGaA, Koninklijke DSM NV, Mitsubishi Chemical Group Corp., Mitsui Chemicals Inc., Nippon Shokubai Co. Ltd., Resonac Holdings Corp., Solvay SA, and Sumitomo Chemical Co. Ltd. |
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, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research and growth 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 Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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