Rising Demand for the Acrylic Resin in Application of Paints & coatings Industry in Upcoming Years !

The global acrylic resins market size is projected to reach USD 21.9 billion by 2025 at a CAGR of 5.5% from 2020. Rapid industrialization and urbanization in key countries, such as China and India, have spurred the demand for acrylic resins in the past few years. The building & construction industry requires high-performance materials for protection and decorative purposes.??

Browse?163 market data Tables and?49 Figures spread through?218 Pages and in-depth TOC on "Acrylic Resins Market by Solvency (Water-based, solvent-based, and others), Chemistry, Application (Paints & coatings, adhesives & sealants, DIY coatings, elastomers, and others), End-use Industry, and Region – Global Forecast"

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The increase in demand for acrylic resins and the growing construction industry in the emerging economies, such as APAC and South America, are driving the market. The key players in the acrylic resins market include 陶氏化学 (US), 巴斯夫 SE (Germany), 阿科玛 (France), 三菱商事 (Japan), NIPPON SHOKUBAI CO., LTD. (Japan), 帝斯曼公司 (Netherlands), Mitsui Chemicals Group (Japan), Showa Denko Materials (Japan), DIC Corporation (Japan) and Sumitomo (Japan). The acrylic resins market report analyzes the key growth strategies, such as investment & expansion, new product launch, and joint venture, adopted by the leading market players between 2017 and 2020.

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.

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Recent Developments in Acrylic Resin Market Industry

1. In September 2020, Dow launched its INVISU acrylic adhesive portfolio in North America, the latest advancement for pressure-sensitive paper and film label applications.
2. In November 2019, Nippon Shokubai Indonesia an Indonesian subsidiary of Nippon Shokubai Co., ltd. obtained Halal certification in Indonesia from Lppom Mui who is a Halal certification authority affiliated with Majelis Ulama Indonesia, with regard to Acrylic Acid (AA) and acrylates. This will boost the sale of acrylic resins in the region.
3. In April 2018, BASF launched a vinyl acrylic latex binder for the paper coating industry, at PaperCon 2018. VINOFAN provides coated unbleached kraft, and coated recycled board which produces a binder with good coverage, high-binding strength, and exceptional runnability in traditional coating application methods.

The global 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 price and availability of raw materials are the major factors that affect the price of end-products. The rise or fall in crude oil prices impacts the price of the raw materials required for acrylic resin.

Acrylic resins are a polymeric material containing acrylic monomers. They a re synthesized from acrylic & methacrylic esters monomers and low-level monomers from other functional groups. Acrylic resins can be thermoplastic or thermosetting resins and are used as solvent based, water based, powder based or energy cured form. They provide good weatherability, resistance to hydrolysis, gloss and color resistance in exterior application. Acrylic resins are used in industries such as paints and coatings, construction, adhesives, paper & paperboard, textile and automotive, among others. ?BASF (Germany) and Arkema (France) have a strong emphasis on R&D and have developed various types of acrylic resins.

Based on chemistry, acrylic resins have been segmented into acrylates, methacrylates, and hybrid systems. The growing demand for cost-effective and environmentally sustainable acrylic resins is driving the demand for these acrylic resins.

Based on solvency, acrylic resins have been segmented into solvent based, water based, and others. The growing demand from end-use industries such as building & construction, automotive, consumer goods, and others for effective resin based systems is driving the market.

Based on applications, acrylic resins have been segmented into paints & coatings, adhesives & sealants, DIY coatings, elastomers, and others. The growing construction industry in the emerging countries of APAC and South America are driving the demand for acrylic resins in these applications.

Based on end-use industry, acrylic resins have been segmented into building & construction, industrial, paper & paperboard, consumer goods, electrical & electronics, packaging, and others. The growing demand for acrylic resins due to properties such as high gloss retention, effective surface protection, weatherability, corrosion protection, and so on is expected to drive the market.

APAC consists of major developing nations, such as China and India, and therefore, the scope for development for most of the industries is high. The region accounted for the largest market share I terms of volume, and is the fastest-growing market for acrylic resins. The growth of the market in the region is attributed to the presence of emerging countries, and their high economic growth rate, the rise in infrastructure projects, increasing urbanization, and growing standard of living. These developing countries are the driving engines for the acrylic resins market in the region.

The growing demand for better construction materials is increasing the demand for acrylic resins in these industries. Residential and commercial construction is the major contributor to the market size for acrylic resin based systems. Residential construction grew significantly in the past few years owing to factors such as increasing disposable incomes, changing lifestyle, growing demand for single family homes, ease of financing, and increased investments.