Acrylic Resins Market Trend | Growth, Overview, Analysis, COVID-19 Impact, and Forecasts (2022

Acrylic Resins Market Trend | Growth, Overview, Analysis, COVID-19 Impact, and Forecasts (2022 - 2027)

June 15, 2022

Acrylic Resins are produced by addition polymerization process of various raw materials such as acrylic and methacrylic acid. They are extensively used in lacquer, textile products, and others to impart aesthetic appearance and glossy finish to the final products. Moreover, they also provide reliability and versatility to the product.

The Global Acrylic Resins Market Trend is driven by the scope of its application in various sectors such as paints & coatings, construction, paper & paperboard, textiles, fibers & adhesives. Moreover, paints & coatings segment is set to grow at a higher CAGR owing to the endless use of thermoplastic and thermosetting resins in the sector.

Market Segmentation:

The Global Acrylic Resins Market Trend is segregated into the type, property, and application. The market by type is classified into methacrylates, acrylates and hybrids segments. On the basis of property, the market is sub-divided into thermoplastic and thermosetting segments. The market by application is bifurcated into paints & coatings, construction, paper & paperboard, textiles, fibers & adhesives.

Competitive Analysis:

Some of the well-known players functioning in the Global Acrylic Resins Market trend are BASF SE (Germany), The Dow Chemical Company (U.S.), Arkema S.A. (France), Air Products and Chemicals, Inc. (U.S.), NIPPON SHOKUBAI CO., LTD. (Japan), Formosa Plastics Corporation (U.S.), Mitsubishi Chemical Holdings Corporation (Japan), DIC CORPORATION (Japan), Hexion (U.S.),and Hitachi Chemical Co., Ltd (Japan) among others.

Market Scenario:

The methacrylate type is leading the market on account of its growing consumption in paints & coatings, furniture, textiles, and others. This type is expected to continue its dominance in the market during the forecast period.

The thermoplastic property is the most used sub-segment in the market due to unique features exhibited by the final product such as lightweight, biocompatible, superior mechanical strength, and other features.

Paints & coatings hold the major portion in Acrylic Resins Market. The increasing production of decorative and industrial coatings in end-use industries is the major factor behind their growth in the market. This industry is set to expand at a higher rate on account of rising consumption of the product in cosmetic and health care products.

Regional Analysis:

Geographically, Acrylic Resins Market is segmented across five regions in the world and they are Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa. Among these, Asia Pacific holds the majority of the market share due to ample availability of raw materials such as methacrylate, acrylic acid, and their extensive use in major industries. North America is set to expand at a significant rate owing to growing demand for acrylic resins in construction, furniture, textiles, and other sectors. In this region, the manufacturers and investors are shifting their focus from conventional to eco-friendly products in end-use applications. The enactment of new rules and regulations to follow water-based coatings instead of solvent-borne has driven the market in the European region. Additionally, the rapid urbanization coupled with technology is set to drive the market in Latin America and the Middle East & Africa regions.

About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), & Consulting Services.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.

Contact:

Market Research Future®

99 Hudson Street,5Th Floor

New York, New York 10013

United States of America

Phone:

+1 628 258 0071(US)

+44 2035 002 764(UK)

Email: sales@marketresearchfuture.com

Website: https://www.marketresearchfuture.com