Richmond, Feb. 12, 2024 (GLOBE NEWSWIRE) -- According to a research report "Acrylic Resins Market”, by Product Type (Water base, Solvent based, others), Application (Paint and coatings, Adhesives and sealants, others), End-user (Building and construction, Automotive, Electronics, Packaging, Others), Distribution Channel (Hypermarkets and Supermarkets, Conventional Store, Online, Subscription Model, Others) and Region - Global Forecast to 2030.
Global Acrylic Resins Market Report Scope:
| Report | Details |
| Market size value in 2023 | USD 21.4 Billion |
| Market size value in 2030 | USD 28.5 Billion |
| CAGR (2023-2030) | 4.2% |
| Forecast Period | 2023–2030 |
| Historic Data | 2019 |
| Forecast Units | Value (USD Million/USD Billion) |
| Segments Covered | Product Type, Application, Distribution Channel, End User and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and RoW |
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| Sample of Companies Covered |
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TOC Covers in Depth & Breath on Acrylic Resins Market
170 - Market Data Tables
65 - List of Figures
225 – Pages
The report includes Vendor Assessment (Company Profiles, Market Positioning, Strategies, Recent Developments, Capabilities & Product Offerings / Mapping), Technology Assessment (Developments & Economic Impact), Partner & Customer Ecosystem (Product Services, Proposition & Key Features) Competitive Index & Regional FootPrint by MarketDigits.
Market Overview
The Global Acrylic Resins market occupies an essential role in the contemporary food industry, Waterborne acrylic resin, recognized for its environmental friendliness, finds extensive applications in coatings, bridges, ships, and locomotives. To enhance its utility across diverse fields, considerable attention has been directed towards modifying waterborne acrylic resin. This paper outlines the synthesis method, resin composition, and fundamental properties of each monomer. The modification mechanisms and techniques for achieving specific resin properties, such as thermal performance, corrosion resistance, mechanical strength, and water resistance.
Acrylic resins are renowned for their impressive UV and oxidative stability. In acrylic emulsions, the incorporation of thickeners is a common practice. Careful selection of a suitable thickener allows for the optimization of rheological properties, particularly in situations with low resin content. Its contribution to product diversification and technological advancements underscores its role as a key driver of industry evolution, making it a vital component in meeting the dynamic demands of today's consumers.
Major Vendors in the Global Acrylic Resins Market:
- Allnex
- Anhui Elite Industrial Co., Ltd.
- Arkema
- BASF SE
- Chevell Performance Material Group
- DIC Corporation
- Eternals Materials Co. Ltd.
- Evonik Industries AG
- Henkel AG & Co.
- Mitsubishi Chemical Holding
- Nippon Shokubai Co. Ltd.
- SEIKO PMC Corporation
- Sumitomo
- Sun Polymers International Inc.
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Increasing popularity of waterborne acrylic resins.
Waterborne acrylic resins are considered more environmentally friendly compared to solvent-based alternatives. They have lower levels of volatile organic compounds (VOCs), contributing to reduced air pollution and a healthier work environment. With increasing environmental regulations and a growing emphasis on sustainability, industries are shifting towards waterborne formulations to comply with stringent standards and regulations governing air quality and emissions. Waterborne acrylic resins are generally safer for workers and end-users as they contain lower levels of harmful solvents. This is particularly important in industries where exposure to chemicals is a concern. Waterborne acrylic resins offer ease of application, typically requiring less complicated equipment and facilitating simpler cleanup processes. This can lead to increased efficiency and cost-effectiveness in various applications.
These resins exhibit versatility in terms of formulation, allowing for modifications to achieve specific properties like adhesion, durability, and flexibility. This adaptability makes them suitable for a wide range of applications. The construction, automotive, furniture, and coatings industries are increasingly adopting waterborne acrylic resins due to their favorable properties and the mentioned environmental and health considerations.
Market Dynamics
Drivers:
- Increasing popularity of waterborne acrylic resins.
- Growing demand for acrylic-based construction material
- Growing paints and coating desire
- Rising environmental concerns
Opportunities:
- Technological Advancements
- Rising economic development
- Awareness of eco-friendly and sustainable products
- Rising demand for protective paints
Rising demand for protective paints
Protective paints processing plays a crucial role in propelling the growth of the global acrylic resins market. Acrylic resins are known for their durability, and protective paints further enhance this quality. The combination of acrylic resins with protective coatings results in surfaces that can withstand harsh environmental conditions, including UV exposure, moisture, and temperature fluctuations. Protective paints formulated with acrylic resins offer excellent corrosion resistance, making them particularly valuable in applications where metal surfaces are exposed to corrosive elements. This makes these coatings suitable for use in various industries, including automotive, marine, and infrastructure. Acrylic resins, when used in protective paints, contribute to resistance against a variety of chemicals. This is crucial in industrial settings where surfaces may come into contact with corrosive substances or harsh chemicals. Acrylic resins inherently provide good UV stability, and when incorporated into protective paints, they help shield surfaces from the damaging effects of ultraviolet radiation. This is especially important in outdoor applications, such as architectural coatings and automotive finishes.
North America dominates the market for Acrylic Resins Food.
North America stands out as the dominating region in the global acrylic resins market, with the United States leading in consumption and market share. The region is estimated to expand further in this domain due to the increasing investments in infrastructure renovation and remodeling activities. Moreover, rising innovations in acrylic resin formulations are bolstering the growth of the market. The U.S. market particularly benefits from a diverse consumer base with a penchant for quick and convenient automotive options.
Asia-Pacific, and specifically India, is emerging as a key player with substantial growth potential in the acrylic resins market. Due to the biggest market share rising investments in the construction of residential and commercial infrastructures. Besides this, the escalating demand for lightweight materials and coating in the automatic sector is contributing to the growth of the market.
Another noteworthy region is the Middle East and Africa, where the demand for convenient automotive solutions is on the rise due to changing lifestyles and an expanding working-class population. South Africa, in particular, showcases promise as a market with high growth potential, driven by urbanization and a growing awareness of convenient automotive options.
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The Adhesives and sealants Segments are anticipated to hold the Largest Market Share during the Forecast Period
In the global Acrylic Resins market, acrylic resins are known for their excellent adhesive properties, promoting strong bonds with various substrates, including metals, plastics, glass, and wood. This makes them valuable in formulating adhesives for diverse applications. Acrylic-based adhesives and sealants are versatile and can be tailored for specific needs. They are used in applications ranging from general-purpose bonding to specialized industrial applications, thanks to their ability to adhere to different surfaces. Acrylic adhesives often have quick curing times, allowing for faster production processes. Rapid bonding is particularly advantageous in industries where efficiency and productivity are essential. Acrylic resins contribute to the durability of adhesives and sealants, ensuring long-lasting bonds even under challenging conditions. This durability is beneficial in applications exposed to weathering, temperature variations, and mechanical stresses.
Segmentations Analysis of Acrylic Resins Market: -
- By Product Type
- Water based
- Solvent based
- Others
- By Application
- Paint and coatings
- Adhesives and sealants
- Others
- By End-user
- Building and construction
- Automotive
- Electronics
- Packaging
- Others
- By Distribution Channel
- Hypermarkets and Supermarkets
- Conventional Store
- Online
- Subscription Model
- Others
- By Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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