According to the latest report by IMARC Group, titled, “Acrylic Resin Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“, The global acrylic resin market size reached US$ 20.4 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 27.5 Billion by 2028, exhibiting a growth rate (CAGR) of 5.1% during 2023-2028.
Acrylic resin is a group of thermoplastic materials manufactured from acrylic acid and methacrylic acid. It is widely available in solvent-based systems and aqueous emulsions. It has weather, heat, water, and chemical resistance properties and offers transparency, durability, and high adhesion. It is utilized in molding materials, coatings and adhesives, binders for paper or fiber processing, and display windows for cellular phones. As it has high ultraviolet (UV) and oxidative stability, acrylic resin is widely employed in the automotive, electronics, construction, and packaging industries around the world.
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Acrylic Resin Market Trends and Drivers:
Presently, the rising demand for acrylic resins in the building and construction industry for improved housing and infrastructure, as it is cost-effective and offers high levels of consistency, represents one of the primary factors strengthening the market growth. Besides this, the growing demand for water-based acrylic resins due to their easy formulation procedures, short drying times, and minimal odor emission is offering a positive market outlook. Apart from this, the increasing utilization of acrylic resins as a primary binder in paints and coatings is bolstering the growth of the market. Moreover, the rising demand for acrylic resins in roof painting and wall coatings due to its weather-resistant quality is offering lucrative growth opportunities to industry investors. Furthermore, key players operating in this industry are introducing a vinyl acrylic latex binder for the paper and coating industry to provide high binding strength, which is propelling the growth of the market.
Acrylic Resin Market 2023-2028 Competitive Analysis and Segmentation:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
- Arkema S.A
- BASF SE
- DIC Corporation
- Dow Inc.
- Koninklijke DSM N.V.
- Mitsubishi Chemical Corporation
- Mitsui Chemicals Inc
- NIPPON SHOKUBAI CO. LTD.
- Showa Denko Materials Co. Ltd.
- Solvay S.A.
- Sumitomo Chemical Co. Ltd.
The report has segmented the market based on component, mobility, application and vertical.
Breakup by Type:
Breakup by Application:
- Paints and Coatings
- Adhesives and Sealants
Breakup by End User:
- Building and Construction
Breakup by Region:
- North America
- Latin America
- Middle East and Africa
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Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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