Acrylic Resin Market Set to Grow at a CAGR of 5.60%, Driven by Demand from Automotive, Construction, and Packaging Sectors, Projected to Reach USD 30.74 Billion by 2030

The global Acrylic Resin Market is expected to witness steady growth driven by its increasing demand in the automotive industry, especially with the rise of electric and autonomous vehicles. Furthermore, applications in building & construction, packaging, and other industries will continue to propel market expansion. With the Asia-Pacific region at the forefront, the market will see significant advancements, particularly in countries experiencing rapid industrial growth.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 𝐏𝐃𝐅: https://www.marketresearchfuture.com/sample_request/5138

The Acrylic Resin Market was valued at USD 19,886.5 million in 2022 and is projected to grow from USD 20,704.2 million in 2023 to USD 30,741.3 million by 2030, with a compound annual growth rate (CAGR) of 5.60% during the forecast period (2023-2030).

The market is primarily driven by the rising demand for acrylic resins, particularly in the automotive industry. Acrylic resins are extensively used in automotive applications for coating and protecting metal surfaces with paint and varnish. These resins, known for their properties such as low-stress birefringence, lightweight, and excellent scratch resistance, are used in a variety of vehicle types including passenger cars, locomotives, and large carriers. The rise in demand for electric and autonomous vehicles further boosts the use of acrylic resins, contributing to market growth.

𝐌𝐚𝐫𝐤𝐞𝐭 𝐓𝐫𝐞𝐧𝐝𝐬

One of the key trends driving the growth of the Acrylic Resin Market is the increased demand in the automotive industry, which accounted for a significant portion of the market in 2021, growing at a CAGR of 22.90% during the forecast period. The demand is driven by the need for high-performance coatings that offer durability, weather resistance, and aesthetic appeal, as well as the push for lower volatile organic compound (VOC) emissions. Additionally, the increasing use of acrylic resins in electric vehicles (EVs) is anticipated to support market growth. As the automotive industry continues its transformation towards electric and autonomous vehicles, the demand for acrylic resins is expected to grow steadily.

𝐀𝐜𝐫𝐲𝐥𝐢𝐜 𝐑𝐞𝐬𝐢𝐧 𝐌𝐚𝐫𝐤𝐞𝐭 𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧

• By Type: The market is segmented into methacrylates, acrylates, and hybrids, with methacrylates dominating the market in 2022. Methacrylate-based polymers are used in the manufacturing of a wide range of products, including automotive components, and construction materials, due to their excellent durability and resistance to wear.

• By Property: Acrylic resins are classified into thermoplastic and thermosetting categories, with thermosetting resins holding a dominant share in 2022. Thermosetting acrylic resins are used extensively in industries like automotive, construction, and packaging due to their excellent solvent resistance and flexibility.

• By End Use Application: The acrylic resin market is used in various industries such as building & construction, automotive, electronics, and packaging. The building & construction segment is expected to grow at the highest CAGR of 6.11% during the forecast period, driven by demand for coatings, adhesives, and sealants.

• By Application: Acrylic resins are used in paints & coatings, adhesives & sealants, and pigment dispersion, with paints & coatings being the leading application segment.

𝐁𝐮𝐲 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰: https://www.marketresearchfuture.com/checkout?currency=one_user-USD&report_id=5138

𝐑𝐞𝐠𝐢𝐨𝐧𝐚𝐥 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬

• Asia-Pacific dominated the Acrylic Resin Market in 2022, holding a market share of 35.08%, and is expected to maintain its leadership throughout the forecast period. This is due to rapid industrialization and commercialization in the region, particularly in countries like China, India, and Japan. These countries are seeing substantial growth in sectors like automotive, construction, and packaging, which are major end-users of acrylic resins.

• North America and Europe are also significant markets for acrylic resins, driven by demand in industries like automotive, construction, and electronics.

𝐊𝐞𝐲 𝐌𝐚𝐫𝐤𝐞𝐭 𝐏𝐥𝐚𝐲𝐞𝐫𝐬

• BASF SE
• Evonik Industries AG
• Dow Chemical Company
• Mitsubishi Chemical Corporation
• Henkel AG & Co.
• Nippon Shokubai Kagaku Kogyo Co., Ltd.
• DIC Corporation
• Sumitomo Chemical Company
• Covestro AG

𝐁𝐫𝐨𝐰𝐬𝐞 𝐈𝐧-𝐝𝐞𝐩𝐭𝐡 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭: https://www.marketresearchfuture.com/reports/acrylic-resins-market-5138

These companies are focusing on product innovation, expansion, and strategic partnerships to enhance their market position. For instance, BASF SE has been expanding its acrylic resin production capabilities, including the construction of a new production line for acrylic dispersions in India to meet the growing demand in the Asia-Pacific region.

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