Factors that Affect on the Acrylic Resins Market Revenue in Upcoming Years !

Northbrook, IL, USA, 2021-Oct-14 — /EPR Network/ —

The global acrylic resins market size is projected to reach USD 21.9 billion by 2025 from USD 16.8 billion in 2020, at a CAGR of 5.5% during the forecast period. The price and availability of raw materials are the major factors that affect the price of end-products. The rise or fall in crude oil prices impacts the price of the raw materials required for acrylic resin.

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Acrylic resins are a polymeric material containing acrylic monomers. They a re synthesized from acrylic & methacrylic esters monomers and low-level monomers from other functional groups. Acrylic resins can be thermoplastic or the rmosetting resins and are used as solvent based, water based, powder based or energy cured form. They provide good weather ability, resistance to hydrolysis, gloss and color resistance in exterior application. Acrylic resins are used in industries such as paints and coatings, construction, adhesives, paper & paperboard, textile and automotive, among others. BASF (Germany) and Arkema(France) have a strong emphasis on R&D and have developed various types of acrylic resins.

Based on chemistry, acrylic resins have been segmented into acrylates, methacrylates, and hybrid systems. The growing demand for cost-effective and environmentally sustainable acrylic resins is driving the demand for the seacrylic resins.

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Based on solvency, acrylic resins have been segmented into solvent based, water based, and others. The growing demand from end-use industries such as building & construction, automotive, consumer goods, and others for effective resin based systems is driving the market.

Based on applications, acrylic resins have been segmented into paints & coatings, adhesives & sealants, DIY coatings, elastomers, and others. The growing construction industry in the emerging countries of APAC and South America are driving the demand for acrylic resins in these applications.

Based on end-use industry, acrylic resins have been segmented into building & construction, industrial, paper & paperboard, consumer goods, electrical & electronics, packaging, and others. The growing demand for acrylic resins due to properties such as high gloss retention, effective surface protection, weatherability, corrosion protection, and so on is expected to drive the market.

APAC consists of major developing nations, such as China and India, and therefore, the scope for development for most of the industries is high. The region accounted for the largest market share I terms of volume, and is the fastest-growing market for acrylic resins. The growth of the market in the region is attributed to the presence of emerging countries, and their high economic growth rate, the rise in infrastructure projects, increasing urbanization, and growing standard of living. These developing countries are the driving engines for the acrylic resins market in the region.

The growing demand for better construction materialsis increasing the demand for acrylic resins in these industries. Residential and commercial construction is the major contributor to the market size for acrylic resin based systems. Residential construction grew significantly in the past few years owing to factors such as increasing disposable incomes, changing lifestyle, growing demand for single family homes, ease of financing, and increased investments.