Global Acrylic Resin Market: Overview
Acrylic resins, thermoplastic materials derived from compounds such as acrylic acid, methacrylic acid, etc., have an array of applications. This is because they feature durability, transparency, adherability, water resistance, hardness, heat resistance, weather resistance, and glossy external appearance. A report by Transparency Market Research broadly segments the different applications of acrylic resins into automotive, paints and coatings, lighting fixtures, adhesives, and textile. Of these, the paints and coatings segment grosses maximum revenue and hence accounts for a dominant position in the market. Used mostly as decorative coatings and do-it-yourself coating primarily in the construction and automotive industry, they are also slated to outshine all other segments in terms of growth rate in the near future because of their versatility and durability.
The TMR report also classifies the global acrylic resin market by end users into automotive, construction, and consumer goods. It furnishes a detailed quantitative and qualitative analysis of the different segments and estimates the overall market size and its growth prospects. The report also describes the competitive landscape in complete detail and sheds light on key strategies of prominent players.
Global Acrylic Resin Market: Drivers and Trends
Acrylic resins are weather and hydrolysis resistant, provide a glossy external appearance, and provide color stability and adherability. Because of such unique perceived benefits they are used in a range of things such as cellular phones, aircraft windshields, watch crystals, optical lenses, PC screens, binders for paper and fiber processing, outdoor signs, headlights, dishes, floor waxes, lighting fixtures, piano keys, and so on. The rapid expansion in such end use industries, especially the automobile industry, is slated to provide substantial impetus to the global acrylic resin market.
Countering the growth in the market is the rising concerns about the health hazards related to the raw materials and their unstable prices, and environmental regulations, particularly in the advanced western countries. A trend expected to revolutionize the global acrylic resin market in the future is the development and commercialization of eco-friendly acrylic resin.
Global Acrylic Resin Market: Geographical Outlook
Based on geography, the key segments of the global acrylic resin market are Europe, North America, Asia Pacific, and the Rest of the World. Asia Pacific, among them, holds maximum potential for growth in the upcoming years. This is because of the rising fortunes of the people in the region on account of the rapid economic growth. This in turn, would trigger strong demand in the region. Asia Pacific already holds prominent position in the global market in terms of both production and consumption. India and China are two major economies powering the market in Asia Pacific due to their requirement for acrylics in applications the construction, paints and coatings, industrial, and commercial segments.
North America and Europe are other prominent markets. Going forward, however, they are slated to pare some of their market shares owing to the slow pace of growth resulting from an already mature market that has limited opportunities. Another factor predicted to restrain growth in the two continents is the strict government regulations. The Rest of the World too will likely see impressive growth on the back of a spurt in construction activities in South America and Middle East.
Companies Mentioned in Report
Some of the key companies in the global acrylic resin market listed in the report are Sumitomo Chemical Co. Ltd., Asahi Kasei Corporation, Air Products and Chemicals Inc., Arkema S.A., Mitsui Chemicals Inc., Evonik Industries AG, Formosa Plastics Corp., BASF, Eastman Chemical Company, and Henkel AG.
Global Acrylic Resin Market is segmented as:
Global Acrylic Resin Market, by Geography
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
This report gives you access to decisive data such as:
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for the coming years
Key highlights of this report
- Overview of key market forces propelling and restraining market growth
- Up-to-date analyses of market trends and technological improvements
- Pin-point analyses of market competition dynamics to offer you a competitive edge
- An analysis of strategies of major competitors
- An array of graphics and SWOT analysis of major industry segments
- Detailed analyses of industry trends
- A well-defined technological growth map with an impact-analysis
- Offers a clear understanding of the competitive landscape and key product segments
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.