Yahoo Finance Acrylic Resins Market Size Hit USD 28,051.3 Million by 2028 | Exhibit a CAGR of 4.8% (2021-2028)
According to Fortune Business Insights, the global acrylic resins market Size is projected to reach USD 28,051.3 Million in 2028, at CAGR of 4.8% during forecast period 2021-2028 | Increasing Demand for Antimicrobial Coatings to Propel Market Growth
Pune, India, Aug. 09, 2022 (GLOBE NEWSWIRE) -- The global acrylic resins market size is expected to experience considerable growth by reaching USD 28,051.3 million by 2028 while exhibiting a CAGR of 4.8% between 2021 and 2028. This information is published by Fortune Business Insights in its latest report, titled “Acrylic Resins Market, 2021-2028.” The report further mentions that the market stood at USD 19,115.9 million in 2020. Factors such as the increasing demand for antimicrobial coatings will boost the product’s demand during the forecast period. Moreover, the rising construction activities has surged the demand for architectural coatings. For instance, according to the World Paint & Coatings Industry Association, demand for architectural coatings increased by 5.2%.
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List of the Companies Profiled in the Global Market:
Dow (United States)
BASF SE (Germany)
Arkema (France)
Mitsubishi (Japan)
Nippon Shokubai (Japan)
DSM (Netherlands)
Mitsui Chemicals (Japan)
DIC Corporation (Japan)
Sumitomo (Japan)
Other Key Players
Report Scope & Segmentation:
Report Coverage | Details |
Forecast Period | 2021-2028 |
Forecast CAGR | 4.8% |
2028 Value Projection | USD 28,051.3 Million |
Base Year | 2020 |
Acrylic Resins Market Size in 2021 | USD 20,163.8 Million |
Historical Data | 2017-2019 |
No. of Pages | 110 |
Segments Covered | By Application, By Product and Regional |
Acrylic Resins Market Growth Drivers | Rising Construction Activities & Demand from Antimicrobial Coating is a Current Trend |
Increasing Number of Stringent Regulations on VOC May Hinder Growth |
Market Segmentation:
Based on the product, the market is trifurcated into acrylates, methacrylates, and hybrids. On the basis of application, the market is divided into paints & coatings, building & construction, adhesives & sealants, plastics, textiles & fibers, paper & paperboard, and others.
Based on the application, the paints & coatings segment is expected to hold the largest global acrylic resins market share in terms of revenue during the forecast period. This is due to the increasing investment in the development of high-performing and durable coatings worldwide.
Lastly, on the basis of region, the market is segregated into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.
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What does the Report Include?
The global market for acrylic resins 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 such as SWOT and PESTEL analysis to extract information about the current trends and industry developments that will drive the market growth during the forecast period.
DRIVING FACTORS
Increasing Demand for Antimicrobial Coatings to Propel Market Growth
The COVID-19 pandemic has led to the heightened awareness regarding safety and hygiene among the people worldwide. This has led to the increasing adoption of antimicrobial coatings across several industrial applications such as healthcare, automotive, and paints and coatings. These types of coating help in reducing the spread of infectious diseases through door knobs, switches, and other household components. Additionally, they are extensively adopted in surgical devices, catheters, medical instruments, medical electronics, etc. to minimize the spread of diseases during medical procedures. The advent of the COVID-19 pandemic has further surged the demand for advanced antimicrobial coatings that is expected to contribute to the global acrylic resins market growth during the forecast period.
REGIONAL INSIGHTS
Asia-Pacific – The region is expected to remain at the forefront in the market during the forecast period. This is attributable to the availability of favorable government subsidies and the growing residential and constructional sector that will propel the adoption of acrylic resins in the region. Asia Pacific stood at USD 8,455.1 million in 2020.
Europe – The market in Europe is expected to showcase significant growth backed by the increasing technological advancement in adhesives and sealants due to the increasing environmental concerns over the adoption of solvent-based acrylic resins between 2021 and 2028.
COMPETITIVE LANDSCAPE
Key Players Focus on Product Launch to Brighten Their Market Prospects
The market is experiencing a healthy competition among key players that are focusing on developing and introducing advanced acrylic resins to expand their product portfolio and further boost sales revenues. Additionally, the other major companies are striving to maintain their presence by adopting strategies such as merger and acquisition, partnership, and collaboration that will contribute to the growth of the market in the forthcoming years.
Industry Development:
February 2021 – Arkema announced the launch of ENCOR 2793 functionalized pure acrylic binder, an advanced formulation for renovation paints and substrate primers. The company further reports that the product has outstanding adhesion property and can be adopted for several industrial applications.
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Detailed Table of Content:
Introduction
Research Scope
Market Segmentation
Research Methodology
Definitions and Assumptions
Executive Summary
Market Dynamics
Market Drivers
Market Restraints
Market Opportunities
Emerging Trends
Key Insights
Key Emerging Trends – For Major Countries
Industry SWOT Analysis
Regulatory Analysis
Recent Industry Developments - Policies, Partnerships, New Product Launches, and Mergers & Acquisitions
Qualitative Insights – Impact of COVID-19 on Global Acrylic Resins Market
Supply Chain Challenges
Steps taken by Government/Companies to overcome this impact
Potential opportunities due to COVID-19 outbreak
Global Acrylic Resins Market Analysis, Insights and Forecast, 2017-2028
Key Findings / Summary
Market Size Estimates and Forecast
By Product (Volume/Value)
Acrylates
Methacrylates
Hybrid
By Application (Volume/Value)
Paints & Coatings
Building & Construction
Adhesives & Sealants
Plastics
Textiles & Fibers
Paper & Paperboard
Others
By Region (Volume/Value)
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
TOC Continued…!
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