Press release
Acrylic Resins Market was valued at USD 17.16 Bn in 2023, and is expected to reach USD 23.05 Bn by 2030
Forecast Increase in Revenue:Acrylic Resins Market was valued at USD 17.16 Bn in 2023, and is expected to reach USD 23.05 Bn by 2030, at a CAGR of 4.3 percentage during forecast period 2024-2030.
Acrylic Resins Market Overview:
The global acrylic resins market, valued at USD 17.16 billion in 2023, is projected to reach USD 23.05 billion by 2030, growing at a CAGR of 4.3% from 2024 to 2030. Acrylic resins are thermoplastic materials derived from the polymerization of esters of acrylic or methacrylic acid, known for their durability, transparency, and weather resistance. These properties make them ideal for applications in industries like automotive, construction, paints and coatings, and medical devices. Rising demand across these industries, particularly in rapidly urbanizing regions, is fueling market growth.
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Drivers in the Acrylic Resins Market:
The acrylic resins market is driven by the increasing demand across various industries due to their versatility and superior properties, such as durability, water resistance, and adhesion. Sectors like automotive, construction, and paints and coatings are utilizing acrylic resins for their strength and aesthetic appeal, while rapid industrialization and urbanization, especially in emerging markets like China, India, and Brazil, are boosting demand. Additionally, growth in construction activities and the rising adoption of eco-friendly coatings and materials are propelling the market forward.
Acrylic Resins Market Trends:
Key trends in the acrylic resins market include the rising preference for methacrylate-based resins due to their superior performance and fast curing abilities, particularly in end-use industries like automotive and construction. Additionally, the shift towards sustainable and eco-friendly materials is pushing manufacturers to develop recyclable and low-VOC (volatile organic compound) acrylic resins. The paints and coatings sector continues to be the largest application segment, driven by demand for products with long-lasting color retention and enhanced environmental resistance.
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Acrylic Resins Market Opportunities:
The acrylic resins market presents numerous opportunities driven by technological advancements and the expansion of industries like automotive, construction, and healthcare. The increasing adoption of acrylic resins in the construction sector, especially in architectural and decorative applications, offers growth potential, particularly in developing regions. Additionally, the growing emphasis on sustainability and recyclability is encouraging the development of eco-friendly acrylic resins, while advancements in production processes and product innovations can enhance market competitiveness and create new avenues for growth.
What is Acrylic Resins Market Regional Insight?
The Asia-Pacific region held the largest share of the acrylic resins market in 2023, accounting for 32% of the total market, driven by rapid industrialization and urbanization in countries like China and India. Government initiatives supporting manufacturing, coupled with flexible regulations, are further boosting demand. Europe, with a 28% market share, and North America follow closely, driven by the increasing use of acrylic resins in industries such as automotive, construction, and signage. The growth in these regions is supported by technological advancements and a strong focus on sustainability.
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Segmentation Analysis of the Acrylic Resins Market
by Type
Methacrylates
Acrylates
Hybrids
by Property
Thermoplastic
Thermosetting
by Application
Paints & Coatings
Construction
Medical
Paper & Paperboard
Textiles
Fibers & Adhesives
Who is the largest manufacturers of Acrylic Resins Market worldwide?
1. Sumitomo Chemical Co. Ltd.
2. Asahi Kasei Corporation
3. Air Products and Chemicals Inc.
4. Arkema S.A.
5. Mitsui Chemicals Inc.
6. Evonik Industries AG
7. Formosa Plastics Corp.
8. BASF
9. Eastman Chemical Company
10.Henkel AG
11.Akzo Nobel N.V.
12.Berger Paints India Limited
13.CARPOLY
14.ALLNEX NETHERLANDS B.V.
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Key Offerings:
Past Market Size and Competitive Landscape
Acrylic Resins Market Size, Share, Size & Forecast by different segment
Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by region
Acrylic Resins Market Segmentation - A detailed analysis by Product
Competitive Landscape - Profiles of selected key players by region from a strategic perspective
Competitive landscape - Market Leaders, Market Followers, Regional player
Competitive benchmarking of key players by region
PESTLE Analysis
PORTER's analysis
Value chain and supply chain analysis
Legal Aspects of business by region
Lucrative business opportunities with SWOT analysis
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