Acrylic Resins Market Size & Share, by Application (Paints & Coatings, Adhesives & Sealants, Elastomers); Type (Water, Solvent Based); Product (Acrylate, Methacrylate, Hybrid); End-user (Building & Construction, Automotive, Electronics, Packaging) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2023-2033

  • Report ID: 4491
  • Published Date: Feb 23, 2023
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2023-2033

Acrylic Resins Market size is poised to cross USD 30 billion by the end of 2033, growing at a CAGR of 5% during the forecast period, i.e., 2023-2033. In the year 2022, the industry size of acrylic resins was over USD 20 billion. Growing population and home improvement activities are estimated to propel market growth. The need for housing rises in tandem with the expansion of the world's population, fueling a surge in building activities and home renovation initiatives. The demand for acrylic resins, which are frequently employed in construction as sealants, adhesives, and in the production of other building materials, is therefore increased. As per the estimations of the United States Census Bureau, the global population reached 7 billion in 2011 and may reach 8 billion in 2023.

Increasing demand for antimicrobial and antiviral coating and rapid urbanization is estimated to fuel the acrylic resins market size in the coming years.  The need for antimicrobial and antiviral coatings in a variety of settings, including hospitals, schools, and public transportation, has increased as a result of the COVID-19 epidemic, and this is projected to fuel demand for acrylic resins. The construction sector is also expanding quickly due to rapid urbanization, particularly in emerging nations, and this has increased demand for acrylic resins used in building and construction products. More than half the world’s population i.e., 55% of the population lived in urban areas in 2017 and more than 4.3 billion live in urban areas now in 2022.


Acrylic Resins Market
Get more information on this report: Request Free Sample PDF


Acrylic Resins Market: Key Insights

Base Year

2022

Forecast Year

2023-2033

CAGR

~5%

Base Year Market Size (2022)

~USD 20 Billion

Forecast Year Market Size (2033)

~USD 30 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
Get more information on this report: Request Free Sample PDF

Acrylic Resins Sector: Growth Drivers and Challenges

Market-Growth-Drivers

Growth Drivers

  • Rising Use in Medical Sector - Acrylic resins are used in the manufacturing of dental fields for dental liners and denture bases. Also, for the production of test kits, syringes, blood filters, cuvettes, and connecting tubes. All these applications are estimated to boost market growth during the forecast period. The global imported trade value of syringes with or without needles was worth USD 7,723,804 in 2021.
  • Growing Industrial Manufacturing Sector – Given its widespread usage in the manufacture of several industrial goods, including machinery and equipment, acrylic resin demand is predicted to increase along with the industrial manufacturing sector. The manufacturing sector contributed about USD 2269.2 to the U.S Gross Domestic Product comprising 10.8% of the total GDP.
  • Increasing Disposable Income and Living Standards – The consumption of acrylic resins used in the manufacture of such items is driven by customers' increased propensity to invest in home renovation projects and durable consumer goods as their disposable income and living standards rise. The consumer price index (CPI) of all urban consumers raised 0.1% in Aug 2022, a rise of 8.3% in the last 12 months.
  • Rising Need for New Hospitals and Healthcare Facilities – Since acrylic resins are used to make medical devices and equipment like dental fillings and prostheses, the need for new hospitals and healthcare facilities is anticipated to increase. The government of Iraq invested over USD 750 million in healthcare infrastructure with new hospitals as per the estimations.
  • Increasing Demand in Construction Industry – The rising construction industry is attributed to the growing demand for paints & coatings. The need for acrylic resins used as adhesives, sealants, and plastic goods, is anticipated to increase as the construction industry expands and there is a greater demand for new homes. About USD 300 billion was spent on new public construction in 2018 as per the estimations.

Challenges

  • Presence of Pollutants - The manufacture of acrylic resins, which are synthetic polymers, discharges pollutants into the environment, potentially harming both human health and the ecosystem. Pollutant levels may also have an impact on the overall market for acrylic resins if customers choose more ecologically friendly alternatives as they become more aware of the negative effects that synthetic materials have on the environment.
  • Increasing Number of Regulations
  • High Cost of Labor


Acrylic Resins Segmentation

End-user (Building & Construction, Automotive, Electronics, Packaging)

The global acrylic resins market is segmented and analyzed for demand and supply by end-user into building & construction, automotive, electronics, packaging, and others. Out of these, the automotive segment is anticipated to hold the largest market size by the end of 2033 on the back of increasing vehicle purchases by individuals. Automotive coatings employ acrylic resins as binders to give the outside of the car durability and protection. They also serve as adhesives to join various parts and elements and are also employed in the production of interior trim, including door panels, dashboard elements, and seat coverings. Their usage is bound to increase with the growth in the automotive industry. For instance, the hybrid electric vehicles sale raised by 76% between 2020-2021.

Type (Water, Solvent Based)

The global acrylic resins market is also segmented and analyzed for demand and supply by type into the water and solvent-based. Owing to its expanding usage across a range of applications, the solvent-based sector is predicted to have the greatest market share by the end of 2033. Solvents including ethyl acetate, butyl acetate, and xylene are used to create solvent-based acrylic resins. These resins are utilized in applications like coatings and adhesives, where a thicker and more solid layer is required. Their use will continue to grow with their growing use in metal and wood materials, and the growth of the construction sector. For instance, it is estimated that over 12,000 new buildings will be constructed by the end of 2050, according to projections.

Our in-depth analysis of the global market includes the following segments:

     By Application

  • Paints & Coatings
  • Adhesives & Sealants
  • Elastomers
  • Others

     By Type

  • Water Based
  • Solvent Based

      By Product

  • Acrylate
  • Methacrylate
  • Hybrid

       By End-User

  • Building & Construction
  • Automotive
  • Electronics
  • Packaging
  • Others

Want to customize this research report as per your requirements? Our research team will cover the information you require to help you take effective business decisions.

Customize this Report

Acrylic Resins Industry - Regional Synopsis

APAC Market Statistics

The Asia Pacific acrylic resins market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2033. The region has a fast-expanding industrial sector and some of the world's biggest economies, including China, India, and Japan. The need for acrylic resins is being driven by the expanding consumer goods, automotive, and construction sectors in the region. Aside from that, a rise in the standard of living and an increase in disposable income is driving up demand for home renovation goods, which mostly depend on acrylic resins as raw ingredients. Additionally, the availability of inexpensive labor and raw materials, as well as favorable government regulations, are luring international corporations to locate their operations in the area, further increasing demand for acrylic resins. The growth of the market can be on account of increasing commercial buildings and construction events, and automobile production. 60% of the global construction growth is attributed to India, China, and Indonesia.

North American Market Forecast

The North American acrylic resins market is also expected to garner a sizeable portion of the global acrylic resins market, owing to the existence of a sizable construction industry and an established automotive sector. The market for acrylic resins is also expanding owing to the region's developed industrial infrastructure and increasing demand for high-quality goods. Moreover, in the construction sector in North America, acrylic resins are frequently employed as binders in paints, adhesives, and sealants. The demand for acrylic resins is being driven by the region's robust infrastructure-building activities, particularly in the commercial and residential construction segments.

Research Nester
Acrylic Resins Market Size
Get more information on this report: Request Free Sample PDF

Companies Dominating the Acrylic Resins Landscape

top-features-companies
    • The Dow Chemical Company
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • BASF SE
    • Arkema
    • Mitsubishi Motors North America, Inc.
    • Nippon Shokubai Co., Ltd
    • DSM N.V.
    • Mitsui Chemicals India Pvt. Ltd.
    • Showa Denko Materials Co., Ltd
    • DIC Corporation
    • Sumitomo Corporation

In-the-news

In The News

  • Arkema planned to acquire Polimeros Especiales to expand the coating solutions segment in developing markets and in low-volatile organic compounds.

  • BASF SE did the installation and start-up of a state-of-the-art acrylic dispersions production line in Dahej, India. The production line complimented the old setup and lets the new dispersion technology production under Styronal PLUS 7918, Styronal ES series, Basonal FCB, Acronal EDGE, and Acronal PLUS product ranges.


Author Credits:  Smruti Ranjan, Rajrani Baghel


  • Report ID: 4491
  • Published Date: Feb 23, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

Rising use in the medical sector and the growing industrial manufacturing sector are the major factors driving the growth of the acrylic resins market.

The market is anticipated to attain a CAGR of 5% over the forecast period, i.e., 2023-2033.

Increasing number of regulations and high cost of labor are the challenges affecting the market growth.

The market in the Asia Pacific region is projected to hold the largest market share by the end of 2033 and provide more business opportunities in the future.

The major players in the market are The Dow Chemical Company, BASF SE, Arkema, Mitsubishi Motors North America, Inc., Nippon Shokubai Co., Ltd, DSM N.V., Mitsui Chemicals India Pvt. Ltd., Showa Denko Materials Co., Ltd, DIC Corporation, and Sumitomo Corporation.

The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.

The market is segmented by application, product, type, end-user, and by region.

The automotive segment is anticipated to garner the largest market size by the end of 2033 and display significant growth opportunities.
Acrylic Resins Market Report Scope
  GET A FREE SAMPLE

FREE Sample Copy includes market overview, growth trends, statistical charts & tables, forecast estimates, and much more.

 Request Free Sample Copy

Have questions before ordering this report?

Inquiry Before Buying