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Market Size – USD 15.98 Billion in 2020, Market Growth – at a CAGR of 5.4%, Market Trends – Increasing number of smart city projects in developing countries
VANCOUVER, BRITISH COLUMBIA, CANADA, June 19, 2023/EINPresswire.com/ — The global acrylic resin market size reached USD 15.98 billion in 2020 and is expected to register a revenue CAGR of 5.4% during the forecast period, according to the latest analysis by Emergen Research. A spurt in construction activities globally as well as a rising need for eco-friendly formulations are some of the key factors driving steady global acrylic resin market revenue growth. In addition, an increasing number of smart city projects in developing countries is expected to further augment the revenue growth of the market between 2021 and 2028.
Advancements in bio-based resin solutions are important for long-term sustainability. The primary purpose of creating sustainable or bio-based paints and coating solutions is to ensure environmental sustainability. The majority of coating raw materials are produced from fossil-based raw materials or renewable sources, including oils, coal, and natural gas. Greenhouse gas (GHG) emissions caused by the misuse of such resources have a significantly negative impact on the environment. As compared to their conventional counterparts, raw materials based on plant biomass have advantageous characteristics.
The acrylic resins market is a thriving industry that involves the production and distribution of acrylic-based polymers commonly used in various applications. Acrylic resins are synthetic materials derived from acrylic acid or its esters, and they exhibit excellent properties such as transparency, weather resistance, durability, and chemical stability. These characteristics make acrylic resins suitable for a wide range of applications in industries such as automotive, construction, electronics, paints and coatings, adhesives, and textiles.
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Competitive Terrain:
The global Acrylic Resins industry is highly consolidated owing to the presence of renowned companies operating across several international and local segments of the market. These players dominate the industry in terms of their strong geographical reach and a large number of production facilities. The companies are intensely competitive against one another and excel in their individual technological capabilities, as well as product development, innovation, and product pricing strategies.
The leading market contenders listed in the report are:
BASF SE, Dow Chemical Company, Arkema S.A., Mitsui Chemicals, Inc., Koninklijke DSM N.V., Showa Denko Materials Co., Ltd., DIC Corporation, Sumitomo Corporation, Mitsubishi Chemical Holdings Corporation, and Nippon Shokubai Co., Ltd
Research Report on the Acrylic Resins Market Addresses the Following Key Questions:
Who are the dominant players of the Acrylic Resins market?
Which regional market is anticipated to have a high growth rate over the projected period?
What consumer trends and demands are expected to influence the operations of the market players in the Acrylic Resins market?
What are the key growth drivers and restraining factors of the Acrylic Resins market?
What are the expansion plans and strategic investment plans undertaken by the players to gain a robust footing in the market?
What is the overall impact of the COVID-19 pandemic on the Acrylic Resins market and its key segments?
Market Overview:
The report bifurcates the Acrylic Resins market on the basis of different product types, applications, end-user industries, and key regions of the world where the market has already established its presence. The report accurately offers insights into the supply-demand ratio and production and consumption volume of each segment.
Segments Covered in this report are:
Type Outlook (Volume Tons, Revenue, USD Billion; 2018–2028)
Thermoplastic
Thermosetting
Form Outlook (Volume Tons, Revenue, USD Billion; 2018–2028)
Solvent Based
Water Based
Chemistry Outlook (Volume Tons, Revenue, USD Billion; 2018–2028)
Methacrylate
Acrylate
Hybrid
Regional Landscape section of the Acrylic Resins report offers deeper insights into the regulatory framework, current and emerging market trends, production and consumption patterns, supply and demand dynamics, import/export, and presence of major players in each region.
The various regions analyzed in the report include:
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Some Key Highlights from the Report
Acrylates segment revenue is expected to expand at a significantly rapid CAGR during the forecast period. Acrylates chemistry is widely used in the paints and coatings industry. Such resins are made up of alkyl acrylates and methacrylates homo and copolymers, which are sometimes blended with other thermoplastic compounds. These are primarily used as main binders in coatings, with applications in the construction and automotive sectors.
Hybrid segment is expected to register a significantly robust revenue growth rate over the forecast period. Owing to superior performance qualities like ultraviolet (UV) protection, glossy retention, and better adhesion, hybrid resins are increasingly being utilized in coating applications.
Asia Pacific market is expected to account for a larger revenue share than other regional markets over the forecast period owing to increasing construction activities as well as rising disposable income and favorable home loan schemes in countries in the region.
The section on the competitive landscape offers valuable and actionable insights related to the business sphere of the Acrylic Resins market, covering extensive profiling of the key market players. The report offers information about market share, product portfolio, pricing analysis, and strategic alliances such as mergers and acquisitions, joint ventures, collaborations, partnerships, product launches and brand promotions, among others. The report also discusses the initiatives taken by the key companies to combat the impact of the COVID-19 pandemic.
Key Points of the Geographical Analysis:
Data and information related to the consumption rate in each region
Estimated increase in the consumption rate
Proposed growth of the market share of each region
Geographical contribution to market revenue
Expected growth rate of the regional markets
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