New York, USA, Aug. 18, 2022 (GLOBE NEWSWIRE) — The Acrylic Resin Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Acrylic Resin Market Information by Type, Property, Application, And Region – Forecast to 2028”, the market is estimated to grow at 3.51% CAGR to reach $28.3 Billion by 2028.
Synopsis of the market
A polymeric material made of acrylic monomers is known as acrylic resin. These monomers are often used by adding other types of chemicals and esters of acrylic, methacrylic, or a mixture of these acids. Additional monomers can be incorporated into the polymer chains to give the resins alternative qualities or make them less expensive. Acrylic resins have high water resistance, high adhesion, and crack resistance. In general, these resins are resistant to chemical and photochemical attacks.
They are widely used in industrial coatings that are solvent- and water-based and have a variety of uses, including decorative and automotive coatings. To meet the unstable supply and demand for products, businesses in the solid acrylic resins industry are switching to a plug-and-play strategy. Due to price differences in import and export tariffs, they are re-evaluating their supplier networks. Manufacturers are concentrating on key profitable applications such as paints, coatings, and varnishes used in the architecture, engineering, and construction (AEC) sector to keep the economy going.
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Report Scope:
| Report Attribute | Details |
| 2028 Market Size | USD 28.3 Billion |
| CAGR | 3.51% (2021–2028) |
| Base Year | 2020 |
| Prediction Time | 2021–2028 |
| Historical Data | 2019 |
| Units of Prediction | Value (Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments covered | By Type, Property, Application, And Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | A rapid rate of industrialization and urbanization in leading countries |
| The demand for acrylic resin-based systems is increasing at the best rate in the building and construction industry |
Market Competitive Landscape:
The famous companies in the acrylic resins market are:
- BASF SE
- The Dow Chemical Company
- Arkema SA
- Air Products And Chemicals, Inc
- NIPPON SHOKUBAI CO., LTD.
- Formosa Plastics Corporation
- Mitsubishi Chemical Holdings Corporation
- DIC CORPORATION
- Hexion
- Hitachi Chemical Co., Ltd
- Poly Metal India
- Tuff Coat Polymers Private Limited
- MGI Chemicals Pvt.Ltd.
- Astra Chemtech Private Limited
- Paladin Paints & Chemicals Private Limited
Market USP Covered:
Market drivers:
The market is expected to rise as many end-use sectors, including building and construction and automotive, increase their use of acrylic resins. In addition, because of their good adherence, acrylic resins are often used as major binders in paints and coatings. In addition, the number of new urban developments in developing countries is expected to increase the demand for acrylic resins. The main market driver for systems made of acrylic resin is residential and commercial buildings. Due to rising consumer disposable incomes, changing lifestyles, increased demand for single-family homes, and ease of financing, housing growth is accelerating. has grown over the past few years. This stimulated the demand for solid acrylic resins.
Rapid urbanization and population expansion in Asia-Pacific, as well as the need for better housing and infrastructure, are expected to impact the growth of the market for acrylic resins. The production of bio-based resin system is important for sustaining the demand in the expected period. The development of green or bio-based paints and coating systems mainly focuses on finding sustainable solutions. Every phase of a coating’s life cycle, from raw materials to resin production and formulation levels, is covered in environmental sustainability. New market opportunities are expected due to these developments in the coming years.
Market constraints:
Almost all types of end-user coatings worldwide use acrylic resins. The original acrylics are solvent-based, but most of the solvents in these coatings are dangerous to the environment and human health. The growth of the market may be severely affected by the harmful effects of acrylic resins produced by solvents and environmental laws regarding high volatile organic content (VOCs). In addition, negative effects can cause headaches, dizziness, and dizziness, which can lead to loss of consciousness and seizures. Working with these systems can also cause nose, eye, and throat irritation.
Browse the In-depth Market Research Report (134 Pages) on Acrylic Resin: https://www.marketresearchfuture.com/reports/acrylic-resins-market-5138
Analysis of COVID 19
While general trends in the paints and coatings industry are changing in anticipation, notable differences are emerging in many consumer sectors. After the first outbreak of the COVID-19 disease in Asia, followed by strict lockdown and detection procedures, the market performance first decreased, then improved. The long-term recurrence of the pandemic, ineffective Euro-American control, the ongoing lockdown, and other issues have an immediate influence on factory supply and store market conditions, which brings of uneven global demand and a dramatic shift in the segment industry.
Market segmentation
By Type
The methacrylates segment will occupy the highest position during the forecast period.
By Property
The thermoplastic part to get high traction during the forecast period.
By Application
Paints and coatings to take the leading position during the forecast period.
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Regional Perspectives
The European market is expected to be supported by advances in adhesives, sealants, and better infrastructure. Recent technological advances are also expected to increase the demand for these resins. Moreover, it will expand as more people become aware of their environmental obligations. This is due to the strong success of the architectural coatings market in Europe and North America. When owners are left stuck in their homes for long periods of time, home improvement projects are popular in the Euro-American region, leading to a sharp increase in the sale of architectural paints. . The introduction of vaccinations is expected to restore the sector of paints and coatings to its earlier rapid expansion. The largest market share for acrylic resins is in Europe. The growing demand for protective paints and coatings in the automotive industry is to blame.
The market will grow at the fastest rate in Asia-Pacific. This is due to the new use of acrylic resins in architecture and construction projects. As a result of the Chinese government’s focus on reducing volatile components in resins, the demand for various water-based acrylic resins for coating applications is on the rise. Major international resins companies already have a significant presence in South America and want to grow through selective organic acquisitions. Demand for acrylic-type resins in the area is expected to increase due to increased construction activity brought about by increasing purchasing power and living standards. The advantages of using suitable resin products for different tasks are increasingly recognized by many resin manufacturers in the Middle East and Africa.
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