Acrylic resins, manufactured by the polymerization of acrylates or methacrylates, find use in several applications ranging from paints and coatings to automotive and construction. Demand for acrylic resins is dependent on the health of the economy and dynamics in various end-use and downstream markets such as paints and coatings, textiles, paper and adhesives in addition to detergents, personal care products, superabsorbent polymers, and wastewater treatment chemicals, among others. In the coming years, global acrylic resins market is expected to register steady growth driven by recovering economic climate, and increasing demand from end-use industries such as construction, electronics and automotive sectors. Despite the opportunities for growth, the market will witness challenges manifested in the form of rising cost of raw materials, and increasingly stringent environmental regulations. In the paints industry, for instance, the strong shift towards low-odor and low-VOC paints is exerting increased pressure on manufacturers to innovate and manufacture nontoxic, environmentally friendly acrylic resins.
As stated by the new market research report on Acrylic Resins, Asia-Pacific represents the largest and the fastest growing market, worldwide. Consumption is expected to be strong across Southeast Asia due to increasing demand for acrylic resins in automotive and construction sectors, and in manufacturing LCD TVs. Countries such as, India, China, Indonesia, and Thailand, are expected to provide maximum growth opportunities for manufacturers. China’s burgeoning population, rising disposable income and steady economic growth will continue stimulating demand for acrylates in major sectors including textile, paint, leather, chemical fiber, and adhesives. The United States, Canada, Japan, and Europe are expected to record relatively lower growth due to maturity of various end-use markets, rising raw material prices and legislation of stringent environment regulations.
Acrylic monomers such as acrylates and methacrylates are primarily used as the base resin for coating systems. Methacrylates represents the largest product market. Methacrylates are used to impart specialized properties such as flexibility, hardness, color stability, and weatherability to the end-product. Acrylates market is poised to grow at a CAGR of 4.8% over the analysis period. Paints & Coatings represents the largest end-use market for acrylic resins, while fastest growth is anticipated from Paper & Paperboard segment. Of all the synthetic resins used in paints and coatings, vinyl acrylic copolymers and acrylic esters are the major resins with primary applications in architectural paints. China and India supported by robust construction activity, and the ensuing increase in demand for resins used in paints and coatings, will drive growth in the market.
Major players covered in the report include Air Products and Chemicals Inc., Arkema S.A., Asahi Kasei Corporation, BASF SE, DIC Corporation, The Dow Chemical Company, Eastman Chemical Company, E.I. du Pont de Nemours and Company, Evonik Industries AG, Formosa Plastics Corp. U.S.A., Henkel AG & Co. KGaA, Kaneka Corporation, Kuraray Co. Ltd., LG Chem Ltd., Mitsubishi Rayon Co. Ltd., Mitsui Chemicals Inc., Momentive, Nippon Shokubai Co. Ltd., Royal DSM N.V., Solvay, and Sumitomo Chemical Co. Ltd., among others.
The research report titled “Acrylic Resins: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, mergers, acquisitions and other strategic industry activities of major players worldwide. The report provides market estimates and projections for all major geographic markets such as the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, and Rest of Europe), Asia-Pacific (China, India, South Korea, and Rest of Asia-Pacific), Latin America (Mexico and Rest of Latin America), and Rest of World. Product segments analyzed include Acrylates and Methacrylates. End-use segments analyzed include Paints & Coatings, Paper & Paperboard, Plastics, Adhesives, Construction, Textiles & Fibers, and Others.
Increased Demand from End-Use Industries Drives the Global Acrylic Resins Market
Published February 4, 2014
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