Press release
Acrylic resins Market Value To Cross $28.3 Billion By 2028 | Growth With Recent Trends & Demand
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Growth in application of acrylic resins in various end-use industries such as building & construction and automotive is expected to boost the market growth. In addition, owing to high adhesion, acrylic resins are widely used as primary binders in paints and coatings. Moreover, rise in number of new city projects in emerging nations, such as China, India, and Japan is expected to fuel demand for acrylic resins. Increase in population and rapid urbanization in Asia-Pacific and need for improved infrastructure and residential spaces are anticipated to play a crucial role in the acrylic resins market growth. The total population of Asia-Pacific represent around 60% of total world population and is expected to increase 5.2 billion (0.9 billion increase) by 2050.
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However, adverse effects of solvent-based acrylic resins and environment regulations regarding high volatile organic contents (VOCs) may negatively impact the market growth. Moreover, adverse effects may lead to headache, dizziness, and light‐headedness progressing to unconsciousness and seizures. Irritation of nose, eye and throat are also some of the other effects of working with these systems.
COVID-19 scenario analysis:
► Rapid spread of COVID-19 pandemic largely impacted the demand from end users of acrylic resins such as building and construction, automotive, and electronics. Lockdown measures and travel restrictions hindered large number of construction activities, which further impacted the market demand. In addition, owing to reduced labor force, large number of industrial projects were delayed that affected the market demand.
► Countries across the globe imposed ban on cross-border imports of various goods, which largely impacted supply chain of the acrylic resins market. Delayed supply of raw materials and increase in lead time affected production of acrylic resins.
► However, rise in demand for new construction projects in medical and healthcare sectors is expected provide new growth opportunities. In addition, growth in prominence of private transport and personal vehicles to maintain social distancing is slowly improve the market growth.
Key Benefits For Stakeholders:
► The global acrylic resins market analysis covers in-depth information of major industry participants.
► Porter's five forces analysis helps analyze potential of buyers & suppliers and the competitive scenario of the industry for strategy building.
► Major countries have been mapped according to their individual revenue contribution to the regional market.
► The report provides in-depth analysis of the global acrylic resins market forecast for the period 2021-2028.
► The report outlines the current global acrylic resins market trends and future estimations of the market from 2020 to 2028 to understand the prevailing opportunities and potential investment pockets.
► The key drivers, restraints, & market opportunity and their detailed impact analysis are explained in the study
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Key Market Players:
► Basf Se
► Arkema
► The Dow Chemical Company
► Mitsubishi Chemical Holdings
► Sumitomo Chemical
► Dic Corporation
► Dsm
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