“Acrylic Resins Market size is projected to reach USD 21.9 billion by 2025 from USD 16.8 billion in 2020, at a CAGR of 5.5% during the forecast period. The demand for acrylic resins in emerging economies, such as APAC, MEA, and South America, is increasing owing to the growth in the construction industry and industrial activities. The stringent regulations regarding coating application is a major challenge for the acrylic resins market. The demand for acrylic resins is rising, owing to the growing demand for cost-effective and sustainable coating materials. This increase in demand for environment-friendly acrylic resins and the construction of green buildings provide growth opportunities to the market. On the other hand, the potential health and environmental issues are the major restrain for the market.
This report also provides a comprehensive analysis of the companies listed below: Dow (US), BASF SE (Germany), Arkema (France), Mitsubishi (Japan), Nippon Shokubai (Japan), DSM (Netherlands), Mitsui Chemicals (Japan), Showa Denko Materials (Japan), DIC Corporation (Japan), Sumitomo (Japan)
The report offers insights into the acrylic resins market in the key regions. It aims at estimating the size of the acrylic resins market during the forecast period and projects future growth of the market across various segments based on chemistry, solvency, application, end-use industry, and region. The report also includes an in-depth competitive analysis of the key players in the acrylic resins market, along with company profiles, MNM view, recent developments, and key market strategies.
BASF is one of the largest chemical producers in the world and has established its presence in more than 80 countries, globally. The company operates through six business segments namely, chemicals, materials, industrial solutions, surface technologies, nutrition & care, and agricultural solutions. BASF offers acrylic resins under its chemicals segment. The company offers products to agriculture, automotive & transportation, chemicals, construction, paints & coatings, plastics, and rubber industries. BASF SE serves more than 100,000 customers in almost every country in the world. They have R&D centers present in 70 locations and operates with 390 production sites worldwide. The company has spent USD 2.4 billion for R&D in all the business segments.
Arkema is a manufacturer of specialty chemicals and advanced materials. The company has organized its operations through four segments: adhesives solutions, advanced materials, coating solutions and intermediates. The company offers products to general industries, consumer goods, paints & coatings, construction, electronics & energy, automotive & transportation, nutrition, and water sectors. Arkema operates in around 55 countries with about 20,500 employees. The company has 13 research centres worldwide and a total of 144 production sites.
Based on chemistry, the acrylates segment is estimated to lead the overall acrylic resins market in 2020.
Acrylates are the largest chemistry type which is used in the production of acrylic resins. These chemicals are bifunctional in nature i.e. can be polymerized and used for various other applications. The growing demand for acrylic resins and easy availability of acrylate chemistry are driving the market growth.
Based on solvency, water-based is estimated to be the largest market in the overall acrylic resin market in 2020.
Water-based acrylic resins are effective as their solvent-based but also have a low environmental impact. These resins are used increasingly in the current period owing to its sustainable nature and easy formulation processes, their excellent durability, quick-drying times and emission of low odor. Using solvent-based acrylic resins in confined spaces can be unpleasant or hazardous to the workers due to the evaporation of solvents, this drive use of water-based resins.
Based on applications, paints & coatings segment is estimated to lead the market in 2020.
Acrylics are utilized in a broad range of applications in paints & coatings industry, right from architectural coatings to the industrial coatings. Acrylic resins show good chemical and photochemical resistance. Acrylics have good colors and gloss retention properties and are easy to handle, moderately priced, and exhibit superior performance in a wide variety of applications such as roof coating, wall coating, and others.