COVID-19 impact on Acrylic Powder Market

  • The COVID-19 outbreak has affected the demand for acrylic powder in many applications. Governments of various countries across the globe have enforced lockdown measures to curb the spread of the coronavirus. This has resulted in slowdown and even halt in manufacturing operations, thus hampering the demand for acrylic powder.
  • The textile Industry was badly affected during lockdowns. As everyone was stuck inside their homes, sales of clothes were hampered. In many regions, sales of non-essential goods such as clothes were poor for many months during the pandemic. This created a demand gap for plastisol and its raw materials.
  • The COVID-19 outbreak has directly affected the production of acrylic powder. Industrial shutdown caused by the COVID-19 pandemic has created disruption in the supply chain. Disruption in supply of raw materials is projected to hamper full-scale operations of companies operating in the market.

Key Drivers of Acrylic Powder Market

  • Rise in demand for acrylic powder is directly linked to growth of various industries such as textile, paints, coatings, as well as plastic molding. The textile industry is expected to expand at a steady pace during the forecast period. Demand for printed clothes is high in the market. Majority of these are printed using plastisol inks. Furthermore, changing lifestyles and fashion trends, as well as people's proclivity for being trendy, are likely to drive the acrylic powder market throughout the forecast period.
  • Acrylic plastisol is also used for molding plastic products such as furniture, playground equipment, washers & spacers, tool grips, and children toys. Rising awareness about PVC products and hesitation to use them among consumers can act as drivers of the global acrylic powder market, as it is a sustainable replacement for PVC.

Restraints of Acrylic Powder Market

  • Availability of alternatives in the form of PVC and other plastics can act as one of the restraining factors of the acrylic powder market. PVC plastisol is widely used due to its affordability and availability in different colors. Many industries have been traditionally using PVC over acrylics. This is likely to hamper the acrylic powder market in the near future.

Asia Pacific to Constitute Significant Share of Global Acrylic Powder Market

  • In terms of region, the global acrylic powder market can be split into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
  • Asia Pacific is one of the largest markets for the textile industry due to highly populated countries such as India and China. The building & construction industry is also growing at rapid pace in China and India. Acrylic coating is done for weather coating roofs and walls, which can generate demand for acrylic powder during the forecasted period.

Competitive Landscape of Global Acrylic Powder Market

The acrylic powder market consists of various small, medium, and large players. Small and medium businesses are dominating the local markets, while the global market is currently witnessing fierce competition among several leading players. Key players operating in the acrylic powder market include:

  • Mitsubishi chemicals
  • DIC Corporation
  • Nippon Shokubai
  • BASF SE
  • Dow
  • Arkema

Global Acrylic Powder Market: Research Scope

Global Acrylic Powder Market, by Product Type

  • Water based
  • Solvent based

Global Acrylic Powder Market, by Application

  • Screen Printing Ink
  • Coating
  • Molding
  • Others

Global Acrylic Powder Market, by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Russia & CIS
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

Acrylic Powder Market Introduction

  • Acrylic powder, also known as acrylic resin powder, is used for the production of plastisol. Acrylic plastisol is environment friendly, and energy saving and thermally stable alternative for PVC plastisol. Acrylic plastisol is a thermoplastic. It is easy to recycle and helps reduce the cost of disposal of waste.
  • Acrylic plastisol, due to its ability to replace PVC plastisol, is used in various applications. Screen printing ink systems is one of the major application of acrylic plastisol. Acrylic plastisol is lightweight than PVC and has good UV and weather resistance. Thus, it is widely used in coatings.

Disclaimer: This ongoing market research study is a meticulously planned activity where a broad array of factors and aspects that shape the marketing environment and industry are taken into account. However, keeping in mind the constantly changing nature of business dynamics and changing strategic intents, we are always actively making iterations and modifications in our approaches. As always, we are ready to tailor our insights and guidance to suit your requirements. Engage with us to know what more is there for your CXOs.

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Acrylic Powder Market