Global Acrylic Resins Market

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% during forecast period 2024-2030.

Global Acrylic Resins Market Overview: 

Acrylic resins essentially constitute a group of thermoplastic resins that require the polymerization of esters of amides of acrylic or methacrylic acid for their production.To know about the Research Methodology :- Request Free Sample Report

Properties of acrylic resin such as durability, transparency, adherability, water resistance, hardness, heat resistance, weather resistance, and glossy external appearance have made it suitable for use in a wide variety of applications such as automotive, medical devices, paints and coatings, adhesives and sealants, paper, medical, textiles and several more. Thus an increasing of use of Acrylic Resins in these end user industries is driving the market over forecast period.

Rapid urbanization and industrialization particularly in emerging economies such as China, India, Brazil, have prompted governments to increase construction spending. This trend is expected to drive acrylic resin demand in construction and architectural applications.

However, factors such as fluctuations in raw material prices, environmental regulations, particularly in the advanced western countries are restraining the market growth over forecast period.

Acrylic Resins Market Segmentation Analysis:

By type of acrylic resins, Methacrylates type held highest market share in 2023 and is expected to keep its dominance over forecast period. This segment is leading market due to its growing consumption in the end-use industries owing to extraordinary features offered by the product such as fast curing and superior performance.

Additionally, it is also used on concrete, wood, metal and synthetic substrates. Methacrylates is followed by Acrylates type resins owing to its wide use in the end-user industries such as paints & coatings, construction, and others.By property, Thermoplastic segment held 55% market share over forecast period. Thermoplastic composites are known for their versatility as they possess the ability to reform due to advantages offered by the product such as cost-effective nature, recyclability, and enhanced mechanical properties.

By application, paints & coatings is the widely used application segment in the market due to extensive use of Acrylic Resins as binders in various applications such as decorative coatings, and others. In the case of paints and coatings, acrylic resins have proven to be very well suited owing to their ability to retain color and sustain the outdoor environment. Acrylic resins are also used for sanitary wares.

Region Analysis:

By region, Asia Pacific held 32% market share in 2023 and is expected to keep its dominance over forecast period. Flexible government regulations coupled with government support such as tax relief to promote manufacturing, mainly in China and India, are expected to drive market in this region. APAC is followed by Europe and North America. Europe is expected to hold 28% market share over forecast period due to an increasing consumption of acrylic resins in sectors such as automotive, construction, and sign/display markets.

Acrylic Resins Market Competitive Landscape:

The global market is highly fragmented with companies involved in M&A to gain market share. Report covers key development and company profiles of major key players. Some of the prominent players operating in this market are Sumitomo Chemical Co. Ltd, Asahi Kasei Corporation, Mitsui Chemicals Inc, Evonik Industries AG, Formosa Plastics Corp., BASF, Eastman Chemical Company, and Henkel. By using various organic and inorganic growth strategies such as merger and acquisition, expansion, joint ventures, strategic alliances, patent, new product launches etc. these players are increasing their regional presence.

The objective of the report is to present a comprehensive analysis of Global Acrylic Resins Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market are presented in the report.

External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global Acrylic Resins Market dynamics, structure by analyzing the market segments and project the Global Acrylic Resins Market size. Clear representation of competitive analysis of key players by Type, price, financial position, product portfolio, growth strategies, and regional presence in the Global Acrylic Resins Market make the report investor’s guide.

Acrylic Resins Market Scope: Inquire before buying

Acrylic Resins Market, by Region

North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)

Key Players:

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.
15.Arkema
16.Jotun
17.PPG Industries, Inc.
18.Masco Corporation

Frequently Asked Questions:

1. Which region has the largest share in Global Acrylic Resins Market?
Ans: Asia Pacific region holds the highest share in 2023.

2. What is the growth rate of Global Acrylic Resins Market?
Ans: The Global Acrylic Resins Market is growing at a CAGR of 4.3% during forecasting period 2024-2030.

3. What is scope of the Global Acrylic Resins market report?
Ans: Global Acrylic Resins Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period.

4. Who are the key players in Global Acrylic Resins market?
Ans: The important key players in the Global Acrylic Resins Market are – Sumitomo Chemical Co. Ltd., Asahi Kasei Corporation, Air Products and Chemicals Inc., Arkema S.A., Mitsui Chemicals Inc., Evonik Industries AG, Formosa Plastics Corp., BASF, Eastman Chemical Company, Henkel AG, Akzo Nobel N.V., Berger Paints India Limited, CARPOLY, ALLNEX NETHERLANDS B.V., Arkema, Jotun, PPG Industries, Inc., Masco Corporation

5. What is the study period of this market?
Ans: The Global Acrylic Resins Market is studied from 2023 to 2030.