The acrylic resins industry's increasing demand for advanced paints and coatings and the increasing industrial application of the product will bode well for the growth of the market. According to Sherwin Williams, the global demand for paints and coatings was about 9.8 billion gallons in 2019 and is likely to accelerate at a steady pace in the forthcoming years.
Market Segmentation:
Based on the product, the global market for acrylic resins is trifurcated into acrylates, methacrylates, and hybrids. On the basis of application, the market is segmented into paints & coatings, building & construction, adhesives & sealants, plastics, textiles & fibers, paper & paperboard, and others. Lastly, on the basis of region, the market is categorized into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.
What does the Report Include?
The market report includes qualitative and quantitative analysis of several factors such as the key drivers and restraints that will impact growth. Additionally, the report provides insights into the regional analysis that covers different regions, which are contributing to the growth of the market. It includes the competitive landscape that involves the leading companies and the adoption of strategies by them to announce partnerships, introduce new products, and collaboration that will further contribute to the growth of the market between 2021 and 2028. Moreover, the research analyst has adopted several research methodologies to extract information about the current trends and industry developments that will drive the market growth in the forthcoming years.
Further Report Findings:
- Asia Pacific stood at USD 8,455.13 million in 2020 and is expected to hold the largest global acrylic resins market share in the forthcoming years. This is due to the increasing consumer spending capacity and the growing rate of automotive manufacturing by established vehicle companies in the region.
- The market in North America is anticipated to showcase exponential growth backed by the increasing construction activities and the growing sales of automotive that will favor the adoption of advanced acrylic resins in the region.
- Based on application, the paints and coatings segment is expected to experience significant growth during the forecast period. This is ascribable to factors such as the increasing demand for durable acrylic resins coatings that prevent rusting and deterioration of metallic parts that is likely to boost its adoption across several industrial applications worldwide.
List of the Companies Profiled in the Global Market:
- Dow (US)
- BASF SE (Germany)
- Arkema (France)
- Mitsubishi (Japan)
- Nippon Shokubai (Japan)
- DSM (Netherlands)
- Mitsui Chemicals (Japan)
- DIC Corporation (Japan)
- Sumitomo (Japan)
- Other Key Players
Information Source:
https://www.fortunebusinessinsights.com/acrylic-resins-market-105159
