Market Size of Acrylic Resin Industry
| Study Period | 2019-2029 |
| Market Volume (2024) | 6.60 Million tons |
| Market Volume (2029) | 8.25 Million tons |
| CAGR (2024 - 2029) | > 4.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Acrylic Resin Market Analysis
The Acrylic Resin Market size is estimated at 6.60 Million tons in 2024, and is expected to reach 8.25 Million tons by 2029, growing at a CAGR of greater than 4% during the forecast period (2024-2029).
The COVID-19 pandemic affected several industries negatively. The lockdown in most regions caused disruptions in industrial as well as construction activities, and restrictions in freight transportation disturbed the supply chain. However, the conditions started recovering in 2021, restoring the market's growth trajectory.
- Growing construction projects in major economies in Asia-Pacific, and increasing usage in automotive applications are major factors driving the growth of the market studied.
- However, the environmental and health hazards associated with acrylic are likely to restrain the growth of the studied market.
- Nevertheless, research and development of bio-based resin will likely create lucrative growth opportunities for the global market.
- Asia-Pacific represents the largest market over the forecast period due to the increasing number of construction projects and infrastructure development.
Acrylic Resin Industry Segmentation
Acrylic resin is a group of thermoplastic materials derived from acrylic acid. Acrylic resins are made from alkyl acrylates and methacrylates as homo and co-polymers and are sometimes combined with other thermoplastic monomers. Their primary application lies in paints and coatings as primary binders and as adhesives and sealants across major end-user industries like construction, automotive, electrical, and electronics, to name a few.
The Acrylic Resin Market is segmented by product type, application, end-user industry, and geography. By product type, the market is segmented into acrylates, methacrylates, and hybrid. By the application, the market is segmented into adhesives and sealants, paints and coatings, and other applications (pigment dispersion and elastomers). By end-user industry, the market is segmented into building and construction, automotive, plastics, textile and fibers, paper and paperboard, electrical and electronics, and other end-user industries (consumer goods and packaging).
The report also covers the market size and forecasts for the Acrylic Resin Market in 28 countries across five regions. For each segment, the market sizing and forecasts are done on the basis of volume (tons).
| Product Type | |
| Acrylates | |
| Methacrylates | |
| Hybrid |
| Application | |
| Adhesives and Sealants | |
| Paints and Coatings | |
| Other Applications (Pigment Dispersion and Elastomers) |
| End-User Industry | |
| Building and Construction | |
| Automotive | |
| Plastics | |
| Textile and Fibers | |
| Paper and Paperboard | |
| Electrical and Electronics | |
| Other Applications (Consumer Goods and Packaging) |
| Geography | |||||||||||
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Acrylic Resin Market Size Summary
The acrylic resin market is poised for significant growth over the forecast period, driven by increasing demand in construction and automotive applications. The market's recovery post-COVID-19 disruptions has been bolstered by the resurgence of industrial activities and infrastructure projects, particularly in the Asia-Pacific region. This region stands as the largest market, fueled by rapid urbanization and substantial investments in construction and infrastructure development in countries like China, India, and South Korea. The versatility of acrylic resin in enhancing the durability, aesthetics, and resistance of building materials and coatings further propels its demand. However, environmental and health concerns associated with acrylic usage pose challenges to market expansion, although advancements in bio-based resin technologies present promising opportunities for future growth.
The market landscape is characterized by a partially consolidated structure, with key players such as Arkema S.A., BASF SE, Dow Chemical Company, Evonik Industries AG, and Sumitomo Chemical Company leading the charge. These companies are actively engaged in initiatives to enhance sustainability, such as Sumitomo Chemical's pilot facility for chemical recycling of acrylic resin and Arkema's certification for bio-attributed acrylic products. The automotive sector's robust growth in the Asia-Pacific, coupled with the increasing demand for electronics, further underscores the market's potential. As infrastructure needs continue to rise globally, the acrylic resin market is expected to experience sustained demand across various end-user industries, reinforcing its growth trajectory.
Acrylic Resin Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Drivers
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1.1.1 Increasing Construction and Infrastructure Activities
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1.1.2 Growing Demand from the Automotive Sector
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1.1.3 Other Drivers
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1.2 Restraints
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1.2.1 Environmental and Health Hazards Associated with Acrylic Resins
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1.2.2 Other Restraints
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1.3 Industry Value Chain Analysis
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1.4 Porter's Five Forces Analysis
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1.4.1 Bargaining Power of Suppliers
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1.4.2 Bargaining Power of Buyers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products and Services
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1.4.5 Degree of Competition
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2. MARKET SEGMENTATION (Market Size in Volume)
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2.1 Product Type
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2.1.1 Acrylates
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2.1.2 Methacrylates
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2.1.3 Hybrid
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2.2 Application
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2.2.1 Adhesives and Sealants
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2.2.2 Paints and Coatings
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2.2.3 Other Applications (Pigment Dispersion and Elastomers)
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2.3 End-User Industry
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2.3.1 Building and Construction
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2.3.2 Automotive
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2.3.3 Plastics
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2.3.4 Textile and Fibers
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2.3.5 Paper and Paperboard
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2.3.6 Electrical and Electronics
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2.3.7 Other Applications (Consumer Goods and Packaging)
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2.4 Geography
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2.4.1 Asia-Pacific
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2.4.1.1 China
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2.4.1.2 India
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2.4.1.3 Japan
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2.4.1.4 South Korea
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2.4.1.5 Malaysia
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2.4.1.6 Thailand
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2.4.1.7 Indonesia
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2.4.1.8 Vietnam
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2.4.1.9 Rest of Asia-Pacific
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2.4.2 North America
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2.4.2.1 United States
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2.4.2.2 Canada
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2.4.2.3 Mexico
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2.4.3 Europe
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2.4.3.1 Germany
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2.4.3.2 United Kingdom
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2.4.3.3 Italy
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2.4.3.4 France
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2.4.3.5 Spain
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2.4.3.6 Nordic
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2.4.3.7 Turkey
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2.4.3.8 Russia
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2.4.3.9 Rest of Europe
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2.4.4 South America
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2.4.4.1 Brazil
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2.4.4.2 Argentina
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2.4.4.3 Colombia
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2.4.4.4 Rest of South America
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2.4.5 Middle East & Africa
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2.4.5.1 Saudi Arabia
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2.4.5.2 South Africa
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2.4.5.3 Nigeria
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2.4.5.4 Qatar
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2.4.5.5 Egypt
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2.4.5.6 UAE
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2.4.5.7 Rest of Middle East & Africa
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Acrylic Resin Market Size FAQs
How big is the Acrylic Resin Market?
The Acrylic Resin Market size is expected to reach 6.60 million tons in 2024 and grow at a CAGR of greater than 4% to reach 8.25 million tons by 2029.
What is the current Acrylic Resin Market size?
In 2024, the Acrylic Resin Market size is expected to reach 6.60 million tons.
