IMARC Group, a leading market research company, has recently releases report titled, “Acrylic Resin Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“, The study provides a detailed analysis of the industry, including the global acrylic resin market growth, share, size and trends forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How big is the acrylic resin market?
|Market Size in 2022||US$ 20.4 Billion|
|Market Forecast in 2028||US$ 27.5 Billion|
|Growth rate (2023 to 2028)||CAGR of 5.1%|
|Base Year of the Analysis||2022|
What is acrylic resin?
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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What are the growth prospects and trends in the acrylic resin industry?
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.
What is included in market segmentation?
The report has segmented the market into the following categories:
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
Who are the key players operating in the industry?
The report covers the major market players including:
- 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.
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