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Growth in various end-use industries such as building & construction and automotive is expected to boost acrylic resins market growth.
June 2, 2021
By: DAVID SAVASTANO
Editor, Ink World Magazine
June 1, 2021 The market for acrylic resins is growing. According to a new report published by Allied Market Research, titled, “Acrylic Resins Market by Type, Application, and End-User: Global Opportunity Analysis and Industry Forecast, 2021–2028,” the global acrylic resins market size was valued at $18.7 billion in 2020, and is projected to reach $28.3 billion by 2028, growing at a CAGR of 5.2% from 2021 to 2028. Growth in application of acrylic resins in various end-use industries such as building & construction and automotive is expected to boost the acrylic resins market growth. In addition, owing to high adhesion, acrylic resins are widely used as primary binders in paints and coatings.. On the basis of type, the water based resins emerged as the market leader and is expected to witness highest market growth. Growing emphasis of water-based acrylic resins in coating applications is expected to drive the acrylic resins market growth. Acrylic resin is used as a primary binder for industrial coatings. On the basis of application, the paints and coatings segment will witness highest market growth. Acrylic resins are widely used as binders for paints and coatings. Moreover, acrylic resins used in paints and coatings are high temperature and chemical resistant with high durability. On the basis of end user, the buildings & construction segment garnered highest market share in 2020. With growth in number of construction projects, demand for coating binders is on the rise. Region wise, Asia-Pacific accounted for the highest revenue share in 2020.
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