Acrylic resins are thermoplastic materials derived from certain compounds such as acrylic acid, methacrylic acid and others. Acrylic resins are employed in various application segments including lighting fixtures, automotive, textile, paints & coatings and adhesives among others. Methacrylate represents the largest product segment for acrylic resin. Paints & coatings are the largest application segment for acrylic resin and are expected to grow fastest during the forecast period.
End use industries for acrylic resin include construction, consumer goods and automotive among others. Therefore, the market is profoundly dependent on the increasing disposable income and overall economic growth of a region. Increasing demand from the Asia Pacific region is expected to drive the market in the near future. Health hazards related to raw materials are expected to be a major restraint for the industry. Volatile raw material prices and environmental regulations are other factors restraining market growth. Developing eco friendly acrylic resin is expected to offer huge growth opportunity to the industry in the near future.
Asia Pacific region dominates the global acrylic resin market in terms of both production and consumption. The demand in Asia Pacific is driven by the developing economies of India and China. The developed economies of North America, Western Europe and Japan are anticipated to grow at a sluggish rate owing to market maturity and stringent environmental regulations. RoW region is driven by the growing construction industry in South America and Middle East. Emerging geographical segments in the RoW region are expected to offer huge growth opportunity for the industry.
Some of the market players in the acrylic resin market include Air Products and Chemicals Inc., Asahi Kasei Corporation, Mitsui Chemicals Inc., Arkema S.A., Evonik Industries AG, Formosa Plastics Corp., Sumitomo Chemical Co. Ltd., BASF, Solvay, Eastman Chemical Company and Henkel AG among others.
This research report analyzes this market depending on its market segments, major geographies, and current market trends. Geographies analyzed under this research report include
- North America
- Asia Pacific
- Rest of the World
This report provides comprehensive analysis of
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming years
This report is a complete study of current trends in the market, industry growth drivers, and restraints. It provides market projections for the coming years. It includes analysis of recent developments in technology, Porter’s five force model analysis and detailed profiles of top industry players. The report also includes a review of micro and macro factors essential for the existing market players and new entrants along with detailed value chain analysis.
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