Global Acrylic Resins Market Size By Type, By Chemical Composition, By Application, By Geographic Scope And Forecast
Published on: 2024-08-08 | No of Pages : 320 | Industry : latest updates trending Report
Publisher : MIR | Format : PDF&Excel
Global Acrylic Resins Market Size By Type, By Chemical Composition, By Application, By Geographic Scope And Forecast
Acrylic Resins Market Size And Forecast
Acrylic Resins Market size was valued at USD 21.9 Billion in 2023 and is projected to reach USD 28.5 Billion by 2030, growing at a CAGR of 4.2 % during the forecast period 2024-2030.
Global Acrylic Resins Market Drivers
The market drivers for the Acrylic Resins Market can be influenced by various factors. These may include
- Growing Need in Infrastructure and Construction Because of their strength, resilience to weather, and visual appeal, acrylic resins are widely used in building materials like adhesives, sealants, and coatings. The demand for acrylic resins is fueled by the expansion of the construction sector, especially in emerging economies where infrastructure development is occurring quickly.
- Growing Automotive Industry Because of acrylic resins’ superior weatherability, scratch resistance, and color retention, they are widely used in automotive coatings, adhesives, and sealants. The demand for acrylic resins is increased by the world’s growing automobile demand, which is fueled by shifting consumer preferences, urbanization, and rising disposable incomes.
- Growing Need for Paints and Coatings Acrylic resins, which have qualities like adhesion, flexibility, and UV resistance, are essential binders in paints and coatings. The demand for acrylic resins in the paint and coatings industry is driven by the expanding construction and automotive sectors, as well as rising renovation activities and the need for decorative coatings.
- Benefits Over Conventional Materials When compared to conventional materials like glass, metal, and other polymers, acrylic resins have the following advantagesthey are more adaptable, simple to process, affordable, and environmentally friendly. These advantages help acrylic resins become more widely used in a variety of applications.
- Technological Developments and Product Innovations Ongoing research and development projects result in the creation of acrylic resins that improve durability, chemical resistance, and thermal stability, among other performance attributes. The market is growing as a result of innovations in manufacturing procedures and formulations that broaden the range of applications for acrylic resins.
- Growing Need for Eco-Friendly Solutions As environmental regulations and concerns grow, so does the need for sustainable and eco-friendly materials. Low volatile organic compound (VOC) acrylic resins can be made, which makes them eco-friendly substitutes for paints, coatings, and adhesives. The adoption of acrylic resins across a range of industries is propelled by the shift towards sustainable practises.
- Urbanization and Infrastructure Development Building activity, infrastructure development, and renovation projects all rise in tandem with rapid urbanization, particularly in emerging economies. The market is expanding because acrylic resins are essential components of building supplies like architectural coatings, concrete sealers, and waterproofing membranes.
Global Acrylic Resins Market Restraints
The market Restraints for the Acrylic Resins Market can be influenced by various factors. These may include
- Growing Need in Infrastructure and Construction Because of their strength, resilience to weather, and visual appeal, acrylic resins are widely used in building materials like adhesives, sealants, and coatings. The demand for acrylic resins is fueled by the expansion of the construction sector, especially in emerging economies where infrastructure development is occurring quickly.
- Growing Automotive Industry Because of acrylic resins’ superior weatherability, scratch resistance, and color retention, they are widely used in automotive coatings, adhesives, and sealants. The demand for acrylic resins is increased by the world’s growing automobile demand, which is fueled by shifting consumer preferences, urbanization, and rising disposable incomes.
- Growing Need for Paints and Coatings Acrylic resins, which have qualities like adhesion, flexibility, and UV resistance, are essential binders in paints and coatings. The demand for acrylic resins in the paint and coatings industry is driven by the expanding construction and automotive sectors, as well as rising renovation activities and the need for decorative coatings.
- Benefits Over Conventional Materials When compared to conventional materials like glass, metal, and other polymers, acrylic resins have the following advantagesthey are more adaptable, simple to process, affordable, and environmentally friendly. These advantages help acrylic resins become more widely used in a variety of applications.
- Technological Developments and Product Innovations Ongoing research and development projects result in the creation of acrylic resins that improve durability, chemical resistance, and thermal stability, among other performance attributes. The market is growing as a result of innovations in manufacturing procedures and formulations that broaden the range of applications for acrylic resins.
- Growing Need for Eco-Friendly Solutions As environmental regulations and concerns grow, so does the need for sustainable and eco-friendly materials. Low volatile organic compound (VOC) acrylic resins can be made, which makes them eco-friendly substitutes for paints, coatings, and adhesives. The adoption of acrylic resins across a range of industries is propelled by the shift towards sustainable practises.
- Urbanization and Infrastructure Development Building activity, infrastructure development, and renovation projects all rise in tandem with rapid urbanization, particularly in emerging economies. The market is expanding because acrylic resins are essential components of building supplies like architectural coatings, concrete sealers, and waterproofing membranes.
Global Acrylic Resins Market Segmentation Analysis
The Global Acrylic Resins Market is Segmented on the basis of Type, Chemical Composition, Application And Geography.
Acrylic Resins Market, By Type
- Thermoplastic Acrylic Resins
- Thermosetting Acrylic Resins
Acrylic Resins Market, By Chemical Composition
- Pure Acrylic Resins
- Modified Acrylic Resins
Acrylic Resins Market, By Application
- Paints & Coatings
- Adhesives & Sealants
- Construction Materials
- Textiles & Fabrics
- Paper & Paperboard Coatings
- Plastics & Composites
Acrylic Resins Market, By Geography
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East & Africa
Key Players
The major players in the Acrylic Resins Market
- Dow (US)
- BASF SE (Germany)
- Arkema (France)
- Mitsubishi Chemical Holdings (Japan)
- Nippon Shokubai (Japan)
- DSM (Netherlands)
- Mitsui Chemicals (Japan)
- Showa Denko Materials (Japan)
- DIC Corporation (Japan)
- Sumitomo (Japan)
Report Scope
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| STUDY PERIOD | 2020-2030 |
| BASE YEAR | 2023 |
| FORECAST PERIOD | 2024-2030 |
| HISTORICAL PERIOD | 2020-2022 |
| UNIT | Value (USD Billion) |
| KEY COMPANIES PROFILED | Dow (US), BASF SE (Germany), Arkema (France), Mitsubishi Chemical Holdings (Japan), Nippon Shokubai (Japan), Mitsui Chemicals (Japan), Showa Denko Materials (Japan), DIC Corporation (Japan), Sumitomo (Japan). |
| SEGMENTS COVERED | By Type, By Chemical Composition , By Application, And By Geography. |
| CUSTOMIZATION SCOPE | Free report customization (equivalent to up to 4 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope. |
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