Global Acrylic Resins Market Size, Share & Trends Analysis Report, By Type (Acrylate, Methacrylate, and Hybrid), By Application (Paints and Coatings, Plastics, Construction, Textile, Consumer Goods, Adhesives, and Others) and Forecast, 2020-2026.
The global acrylic resins market is estimated to grow significantly during the forecast period. Significant demand for methacrylates in several applications is driving the growth of the market. A comprehensive range of acrylic paint consists of one or more methacrylate products. This comprises commercial, residential, and industrial paints as well as powder coatings. The methacrylic monomers properties enable the manufacturers of coating polymers to design coatings for use in end-use industries. Paints and coatings to be produced and easily applied using methacrylic monomers, as well as creates a durable protective surface coating that can last longer as it is extremely resistant to sunlight, weather, and other factors.
Further, architectural or decorative coatings account for the largest share of the global surface coatings market. These coatings are appropriate for use on cotton fabrics, aluminum, building surfaces, plastic, glass, steel, metals, paper, metal foils, and wool. Pure acrylic formulations have applications in both exterior and interior applications. Acrylic-based systems possess excellent durability and UV resistance which makes them different from competitive products and especially ideal for exterior coatings.
Geographically, Asia-Pacific is estimated to witness potential growth during the forecast period. As per the India Brand Equity Foundation (IBEF), domestic production of automobiles grew at nearly 2.4% CAGR during the period, 2016-2020 with nearly 26.4 million vehicles being produced in the country in 2020. Foreign automobile companies are expanding their production base in the country. The acrylic coatings properties make them suitable for automotive topcoats, where they offer protection from mechanical and chemical attack and provides a rich gloss effect. Automotive refinish coatings has applications in the repair of commercial vehicles and car bodies. Acrylics can be used in combination with other chemicals to provide a highly durable, gloss coating.
Some key players in the market include BASF SE, Arkema S.A., Evonik Industries AG, The Dow Chemical Co., and Mitsui Chemicals, Inc. The market players are adopting certain strategies including mergers and acquisitions, partnerships and collaborations, and product launches, to gain a competitive advantage. For instance, in April 2019, DIC Corp. acquired Indian resins manufacturer, Ideal Chemi Plast Pvt. Ltd. Ideal Chemi Plast manufactures and sells polyester, acrylic, alkyd, and other resins for applications in coil and wood, automotive refinish coatings and others. This acquisition will enable DIC to increase its position in the Indian market.
Research Methodology
The market study of the global acrylic resins market is incorporated by extensive primary and secondary research conducted. Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast and growth rate. Different approaches have been worked on to derive the market value and market growth rate. The team collects facts and data related to the market from different geography to provide a better regional outlook.
In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables the analyst to derive the closest possible figures without any major deviations in the actual number. The analysts try to contact as many executives, managers, key opinion leaders and industry experts. Primary research brings authenticity in the reports.
Secondary Sources Include
The report provides in-depth analysis on market size, intended quality of the service preferred by consumers. The report will serve as a source for 360-degree analysis of the market thoroughly integrating different models.
Market Segmentation
The Report Covers
The global acrylic resins market is estimated to grow significantly during the forecast period. Significant demand for methacrylates in several applications is driving the growth of the market. A comprehensive range of acrylic paint consists of one or more methacrylate products. This comprises commercial, residential, and industrial paints as well as powder coatings. The methacrylic monomers properties enable the manufacturers of coating polymers to design coatings for use in end-use industries. Paints and coatings to be produced and easily applied using methacrylic monomers, as well as creates a durable protective surface coating that can last longer as it is extremely resistant to sunlight, weather, and other factors.
Further, architectural or decorative coatings account for the largest share of the global surface coatings market. These coatings are appropriate for use on cotton fabrics, aluminum, building surfaces, plastic, glass, steel, metals, paper, metal foils, and wool. Pure acrylic formulations have applications in both exterior and interior applications. Acrylic-based systems possess excellent durability and UV resistance which makes them different from competitive products and especially ideal for exterior coatings.
Geographically, Asia-Pacific is estimated to witness potential growth during the forecast period. As per the India Brand Equity Foundation (IBEF), domestic production of automobiles grew at nearly 2.4% CAGR during the period, 2016-2020 with nearly 26.4 million vehicles being produced in the country in 2020. Foreign automobile companies are expanding their production base in the country. The acrylic coatings properties make them suitable for automotive topcoats, where they offer protection from mechanical and chemical attack and provides a rich gloss effect. Automotive refinish coatings has applications in the repair of commercial vehicles and car bodies. Acrylics can be used in combination with other chemicals to provide a highly durable, gloss coating.
Some key players in the market include BASF SE, Arkema S.A., Evonik Industries AG, The Dow Chemical Co., and Mitsui Chemicals, Inc. The market players are adopting certain strategies including mergers and acquisitions, partnerships and collaborations, and product launches, to gain a competitive advantage. For instance, in April 2019, DIC Corp. acquired Indian resins manufacturer, Ideal Chemi Plast Pvt. Ltd. Ideal Chemi Plast manufactures and sells polyester, acrylic, alkyd, and other resins for applications in coil and wood, automotive refinish coatings and others. This acquisition will enable DIC to increase its position in the Indian market.
Research Methodology
The market study of the global acrylic resins market is incorporated by extensive primary and secondary research conducted. Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast and growth rate. Different approaches have been worked on to derive the market value and market growth rate. The team collects facts and data related to the market from different geography to provide a better regional outlook.
In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables the analyst to derive the closest possible figures without any major deviations in the actual number. The analysts try to contact as many executives, managers, key opinion leaders and industry experts. Primary research brings authenticity in the reports.
Secondary Sources Include
- Financial reports of companies involved in the market
- Authentic public databases
- Whitepapers, research-papers, and news blogs
- Company websites and their product catalog
The report provides in-depth analysis on market size, intended quality of the service preferred by consumers. The report will serve as a source for 360-degree analysis of the market thoroughly integrating different models.
Market Segmentation
- Global Acrylic Resins Market Research and Analysis, By Type
- Global Acrylic Resins Market Research and Analysis, By Application
The Report Covers
- Comprehensive research methodology of the global acrylic resins market.
- This report also includes a detailed and extensive market overview with key analyst insights.
- Exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
- Analysis of regional regulations and other government policies impacting the global acrylic resins market.
- Insights about market determinants which are stimulating the global acrylic resins market.
- Detailed and extensive market segments with regional distribution of forecast revenues.
- Extensive profiles and recent developments of market players.
Table of Contents
1. Report Summary
2. Market Overview and Insights
3. Competitive Landscape
4. Market Determinants
5. Market Segmentation
6. Regional Analysis
7. Company Profiles
LIST OF TABLES
LIST OF FIGURES
Companies Mentioned
A selection of companies mentioned in this report includes:
- Air Products and Chemicals, Inc.
- Arkema S.A.
- Asahi Kasei Corp.
- BASF SE
- Cargill, Inc.
- DIC Corp.
- Eastman Chemical Co.
- Evonik Industries AG
- Henkel AG & Co. KGaA
- Hexion Inc.
- Hitachi Chemical Co., Ltd.
- Kamsons Chemicals Pvt. Ltd.
- Mitsubishi Chemical Corp.
- Mitsui Chemicals, Inc.
- Nippon Shokubai Co., Ltd.
- Novozymes A/S
- Solvay S.A.
- Sumitomo Chemical Co., Ltd.
- The Dow Chemical Co.
