Acrylic Resins Market Scope
A group of related thermosetting plastics or thermoplastics primarily derived from acrylic acids is known as acrylic resin. Acrylic acid is the main raw material in the production of acrylic resin. Methyl methacrylate dominates the acrylic resins market. Acrylic resins are used in the paints and coatings industry as they provide a glossy finish for residential and commercial constructions, decorative coatings, and DIY coatings. The major application of acrylic resin is in the paint and coatings industry.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | Dow (United States), BASF SE (Germany), Arkema SA (France), Mitsubishi Chemical Holdings Corporation (Japan), Nippon Shokubai Co., Ltd. (Japan), DSM (Netherlands), Mitsui Chemicals (Japan), Showa Denko Materials (Japan), DIC Corporation (Japan) and Sumitomo (Japan) |
CAGR | % |
The competitive landscape of the acrylic resins market is dominated by key players such as Arkema, BASF SE, Dow Chemical Company, and Evonik Industries. These companies have a strong global presence and offer a wide range of acrylic resins for applications including paints, coatings, adhesives, and construction materials. Innovation, product development, and strategic partnerships are key strategies employed by these players to maintain their competitive edge in the market. Research Analyst at AMA estimates that Japan Vendors will contribute to the maximum growth of Global Acrylic Resins market throughout the predicted period.
Dow (United States), BASF SE (Germany), Arkema SA (France), Mitsubishi Chemical Holdings Corporation (Japan), Nippon Shokubai Co., Ltd. (Japan), DSM (Netherlands), Mitsui Chemicals (Japan), Showa Denko Materials (Japan), DIC Corporation (Japan) and Sumitomo (Japan) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research are Air Products and Chemicals, Inc. (United States), Formosa Plastics Corporation (Taiwan), Momentive Specialty Chemicals Inc. (United States) and Hitachi Chemical Co., Ltd. (Japan).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Acrylic Resins market by Type , by Application (Paints & Coatings, Construction, Industrial & Commercial, Paper & Paperboard, Textiles & Fibers & Adhesives and Others) and Region with country level break-up.
On the basis of geography, the market of Acrylic Resins has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2022.
Market Leaders and their expansionary development strategies
In July 2022, Arkema Company, acquired Polimeros Especiales, a prominent producer of emulsion resins in Mexico. This acquisition further strengthened Arkema's position in the emulsion resins market and expanded its presence in the Latin American region. By integrating Polimeros Especiales' expertise and product portfolio into its operations, Arkema aimed to enhance its offerings and better serve the growing demand for emulsion resins in Mexico and surrounding markets.
In September 2020, Dow has launched its INVISU acrylic adhesive portfolio in North America, the latest advancement for pressure-sensitive paper and film label applications.
Influencing Trend:
Growing demand for paints and coatings, driven by their excellent adhesion, durability, and weather resistance
Market Growth Drivers:
Increased Infrastructural and Construction Activities and Rising Demand for Coatings from End-Use Industries
Challenges:
Stringent Government Regulations and Restrictions
Restraints:
Fluctuating Raw Material Prices Owing To Volatility in Crude Oil Prices and Potential Health and Environmental Issues of Solvent-Based Systems
Opportunities:
Growing Requirement of Environmentally Sustainable Formulations
Key Target Audience
Acrylic Resins Manufacturers, Distributors/Suppliers, Chemical Industries, Traders/Exporters/Importers, End-Use Industries and Others