Acrylic Resin Market

Acrylic Resin Market Size:

The global acrylic resin market size reached US$ 21.4 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 31.4 Billion by 2032, exhibiting a growth rate (CAGR) of 4.2% during 2024-2032. The growing demand for acrylic-based construction materials, the rising popularity of waterborne acrylic resins, and increasing innovations in technology, such as nanotechnology for enhancing product properties are some of the key factors propelling the market.

Acrylic Resin Market Analysis:

• Major Market Drivers: The rising demand from industries such as automotive, construction, and packaging, where these resins are used for coatings, adhesives, and sealants are contributing to the market expansion. Moreover, increasing environmental regulations have pushed manufacturers toward sustainable water-based acrylic resins, thus strengthening the acrylic resin market growth.
• Key Market Trends: The growing shift toward eco-friendly and high-performance acrylic resins, spurred by regulatory pressures and consumer demand for sustainable materials is a prominent trend influencing the market. Additionally, ongoing innovations in bio-based acrylic resins to align with global sustainability goals are creating a positive outlook for market expansion.
• Geographical Trends: Asia Pacific dominates the acrylic resin market, supported by rapid industrialization, urbanization, and a booming automotive and construction sector. Countries like China, India, and Japan are major contributors, with favorable government policies and investments fueling the market growth.
• Competitive Landscape: Some of the major market players in the acrylic resin industry include Arkema S.A, BASF SE, DIC Corporation, Dow Inc., Koninklijke DSM N.V., Mitsubishi Chemical Corporation, Mitsui Chemicals Inc, NIPPON SHOKUBAI CO. LTD., Showa Denko Materials Co. Ltd., Solvay S.A., Sumitomo Chemical Co. Ltd., among many others.
• Challenges and Opportunities: Fluctuating raw material prices and stringent environmental regulations which can affect production costs are challenging the market growth. On the other hand, opportunities like developing bio-based acrylic resins and expanding into emerging markets with strong industrial growth potential are propelling the industry forward.
   

Acrylic Resin Market Trends:

Growing demand for acrylic-based construction materials:

The growing demand for acrylic-based construction materials is currently exerting a positive influence on the acrylic resin market. Besides this, acrylic-based construction materials are being favored for their remarkable durability and exceptional weather resistance. These properties make them particularly suitable for use in exterior coatings, sealants, and adhesives, ensuring that structures remain aesthetically pleasing and structurally sound over extended periods. Moreover, the environmental consciousness prevailing in the construction industry is leading to rising utilization of acrylic resins. As builders and developers seek sustainable and eco-friendly options, there is rising demand for acrylic resins due to their reduced environmental impact compared to certain alternatives, which is positively impacting the acrylic resin market outlook.

Rising traction of waterborne acrylic resins

At present, the rising traction of waterborne acrylic resins is propelling the growth of the market. In line with this, environmental concerns and stringent regulations governing volatile organic compounds (VOCs) are leading to a pronounced shift toward waterborne acrylic resins. Their low VOC content aligns with the global imperative to reduce air pollution and minimize harm to both human health and the environment. Moreover, continual research and development (R&D) efforts aimed at enhancing the performance characteristics of waterborne acrylic resins are driving their adoption across various industries. These efforts are focused on improving properties, such as ultraviolet (UV) resistance, chemical resistance, and adhesion capabilities, making waterborne acrylic resins increasingly versatile and suitable for an array of applications.

Increasing utilization of flexible and sturdy packaging materials in the e-commerce sector

The acrylic resin market is expanding as a result of the growing use of strong, flexible packaging materials in the e-commerce industry. Concurrently, the growing demand for packaging solutions that are both robust and versatile is necessary to maintain the quality of various products while transporting them. Acrylic resins are increasingly chosen due to their exceptional strength and flexibility, enabling the creation of packaging materials capable of withstanding the rigors of transportation and handling, thereby safeguarding the contents of packages during transit. Furthermore, the continuous innovation in acrylic resin formulations and manufacturing processes is enhancing their suitability for use in flexible packaging materials. Acrylic resins with improved barrier qualities, ultraviolet (UV) resistance, and printability are being produced as a result of this continuous research and development (R&D) effort, which makes them a desirable option for e-commerce packaging applications.

Acrylic Resin Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the global, regional, and country levels for 2024-2032. Our report has categorized the market based on type, application, and end user.

Breakup by Type:

• Water-based
• Solvent-based
• Others
   

Water-based accounts for the majority of the market share

The report has provided a detailed breakup and analysis of the market based on the type. This includes water-based, solvent-based, and others. According to the report, water-based represented the largest segment.

Water-based acrylic resin, often referred to simply as water-based acrylic or acrylic emulsion, is a type of acrylic polymer that is dispersed in water. It can be utilized in several applications, including paints, coatings, adhesives, sealants, inks, and textiles. It is considered more sustainable than solvent-based acrylic resins because it has lower VOC emissions, which contribute to air pollution. This makes it a preferred choice for environmentally conscious consumers and industries. Water-based acrylics dry quickly, making them suitable for applications where rapid curing or drying is necessary. They offer good resistance to weathering, UV radiation, and chemicals, ensuring the longevity of the finished product. When compared to solvent-based alternatives, they usually smell less, which makes them more comfortable to work with indoors.

Breakup by Application:

• Paints and Coatings
• Adhesives and Sealants
• Others
   

Paints and coatings hold the largest share of the industry

A detailed breakup and analysis of the market based on the application have also been provided in the report. This includes paints and coatings, adhesives and sealants, and others. According to the report, paints and coatings accounted for the largest market share.

Based on the acrylic resin market overview, these resins are widely used in the formulation of paints and coatings due to their versatility, durability, and various advantageous properties. They are a common binder in water-based interior and exterior paints. They offer efficient adhesion to a variety of surfaces, including wood, concrete, stucco, and drywall. Acrylic paints dry quickly, have low odor, and provide long-lasting color retention. They are commonly used for wall paints, trim paints, and other decorative coatings in homes and commercial buildings. Acrylic-based waterproofing coatings are used to protect surfaces, such as roofs, decks, and concrete structures from water penetration. These coatings help stop moisture damage by forming a seamless, waterproof barrier.

Breakup by End User:

• Automotive
• Building and Construction
• Electronics
• Packaging
• Others
   

Building and construction represent the leading market segment 

The report has provided a detailed breakup and analysis of the market based on the end user. This includes automotive, building and construction, electronics, packaging, and others. According to the report, building and construction represented the largest segment.

Acrylic resins are commonly used in the formulation of architectural coatings, including exterior and interior paints. These coatings provide protection and aesthetics to building surfaces. Acrylic-based paints are known for their durability, resistance to weathering, and color retention. Acrylic resins are also used in textured finishes and coatings for exterior walls. These finishes can provide both decorative appeal and weather resistance. Acrylic-based finishes can be applied to stucco, concrete, and other substrates to enhance the appearance and durability of exterior walls. Acrylic-based roof coatings are applied to flat or low-slope roofs to provide waterproofing and protection against UV radiation. They can extend the lifespan of roofing materials and help reduce energy costs by reflecting sunlight and heat.

Breakup by Region:

• North America
  • United States
  • Canada
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

Asia Pacific leads the market, accounting for the largest acrylic resin market share

The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, Asia Pacific represents the largest regional market for acrylic resin.

Asia Pacific leads the acrylic resin market, holding the largest share due to rapid industrialization, urbanization, and infrastructure development, particularly in countries like China, India, and Japan. The region's booming construction and automotive industries drive significant demand for acrylic resins in paints, coatings, adhesives, and sealants. Additionally, the growing packaging, electronics, and healthcare sectors contribute to the rising consumption of these resins. Favorable government initiatives promoting manufacturing and foreign investments further support market growth. The availability of raw materials and cost-effective labor gives Asia Pacific a competitive advantage, encouraging production expansion by major global players. Environmental regulations promoting eco-friendly, water-based resins also drive the shift toward sustainable products in the region.

Competitive Landscape:

• The market research report has also provided a comprehensive analysis of the competitive landscape in the market. Detailed profiles of all major companies have also been provided. Some of the major market players in the acrylic resin industry include Arkema S.A, BASF SE, DIC Corporation, Dow Inc., Koninklijke DSM N.V., Mitsubishi Chemical Corporation, Mitsui Chemicals Inc, NIPPON SHOKUBAI CO. LTD., Showa Denko Materials Co. Ltd., Solvay S.A., Sumitomo Chemical Co. Ltd.
  
  (Please note that this is only a partial list of the key players, and the complete list is provided in the report.)
   
• The competitive landscape of the acrylic resin market is characterized by the presence of numerous global and regional players vying for market share. Prominent manufacturers dominate due to their extensive product portfolios, technological advancements, and strong distribution networks. These firms focus on innovations in eco-friendly and high-performance acrylic resins, driven by increasing regulatory pressure for sustainable materials. Meanwhile, regional players offer cost-competitive products catering to local industries. Strategic partnerships, mergers, and acquisitions are prevalent as companies aim to expand their market presence and enhance production capabilities. Additionally, growing demand from industries like automotive, construction, and packaging fosters intense competition, pushing manufacturers to improve product quality and customize offerings to meet specific industrial requirements. The competitive intensity is further amplified by the push toward water-based resins and bio-based alternatives in line with global environmental sustainability trends.

Acrylic Resin Market News:

• In September 2023, Arkema revealed its plans to implement a patented purification technology at its Carling, France, site by 2026, enhancing operational efficiency and reducing CO2 emissions by 20%. This investment supports Arkema’s climate plan, aligned with SBTi's 1.5°C target, contributing to the Group's sustainability goals by 2030.
• In July 2024, Engineered Polymer Solutions (EPS) introduced EPS 2460, a new all-acrylic polymer for industrial wood coatings. This innovative resin, free from intentionally added fluorosurfactants, provides superior performance for both exterior and interior applications. EPS 2460 enhances coatings with increased durability, exceptional adhesion, hardness, block, and chemical resistance. It is ideal for high-performance coatings on decks, shutters, windows, doors, and kitchen and bathroom cabinets.

Acrylic Resin Market Report Scope:

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the acrylic resin market from 2018-2032.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the global acrylic resin market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assists stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the acrylic resin industry and its attractiveness.
• The competitive landscape allows stakeholders to understand their competitive environment and provides insight into the current positions of key players in the market.