SAN JOSE, CA – Global Industry Analysts Inc. has released a comprehensive global report on the acrylic resins market. The global market for acrylic resins is forecast to exceed 16.4 billion pounds by the year 2015.
Demand for acrylic resins was negatively impacted by the global economic recession in 2008 and 2009. Significant declines in various end-use markets, including coatings, paper and paperboard, plastics, adhesives, construction, and textiles and fibers, hampered acrylic resin demand. However, sectors such as the do-it-yourself market segment were minimally impacted, driven by a shift in consumption patterns.
Going forward, the resins market is likely to bounce back by 2011 and grow steadily in subsequent years. New product introductions that focus on performance are likely to help resin manufacturers. Developing markets such as Asia-Pacific and others are expected to infuse increased demand for resins and emerge as the hub for resins production.
Europe represents the largest regional market for acrylic resins worldwide. In terms of growth, Asia-Pacific is expected to register the fastest growth for acrylic resins. The region is forecast to have a compound annual growth rate of more than three percent over the period 2007 through 2015. The United States represents another major market for acrylic resins.
The coatings sector constitutes the largest end-use of acrylic resins. Acrylic-based coatings deliver improved color stability, flexibility, weatherability and enhanced finishes. Consumption of acrylic resins by end-use markets is projected to exceed 4.4 billion pounds by 2012.
Greener products are emerging as a lucrative opportunity for acrylic resin manufacturers. Addressing the needs of eco-friendly and greener requirements for end-use industries has become a prime focus for resin manufacturers.
For additional information about the report, titled “Acrylic Resins: A Global Strategic Business Report,” visit www.strategyr.com/Acrylic_Resins_Market_Report.asp.