SAN JOSE, CA - Acrylic resins, manufactured by the polymerization of acrylates or methacrylates, are used in applications ranging from coatings to automotive and construction. Demand for acrylic resins is dependent on the health of the economy and dynamics in various end-use and downstream markets such as coatings, textiles, paper and adhesives in addition to detergents, personal care products, superabsorbent polymers, and wastewater treatment chemicals, among others. In the coming years, the acrylic resins market is expected to register steady growth driven by a recovering economy and increasing demand from end-use industries such as the construction, electronics and automotive sectors. Despite the opportunities for growth, the market will witness challenges created by the rising cost of raw materials and increasingly stringent environmental regulations. In the coatings industry, for instance, the strong shift towards low-odor and low-VOC paints is exerting increased pressure on manufacturers to innovate and manufacture nontoxic, environmentally friendly acrylic resins.
As stated in a new market research report on acrylic resins, Asia-Pacific represents the largest and the fastest-growing market. Consumption is expected to be strong across Southeast Asia due to increasing demand for acrylic resins in automotive and construction sectors and in manufacturing LCD televisions. Countries such as India, China, Indonesia and Thailand are expected to provide maximum growth opportunities for manufacturers. China’s burgeoning population, with its rising disposable income and steady economic growth, will continue stimulating demand for acrylates in major sectors including textile, paint, leather, chemical fiber and adhesives. The United States, Canada, Japan and Europe are expected to record relatively lower growth due to maturity of various end-use markets, rising raw material prices and stringent environment regulations.
Acrylic monomers such as acrylates and methacrylates are primarily used as the base resin for coating systems. Methacrylates represent the largest product market. Methacrylates are used to impart specialized properties such as flexibility, hardness, color stability and weatherability to the end product. The acrylates market is poised to grow at a CAGR of 4.8 percent over the analysis period. The coatings market represents the largest end-use market for acrylic resins, while the fastest growth is anticipated from the paper and paperboard segment. Of all the synthetic resins used in coatings, vinyl acrylic copolymers and acrylic esters are the major resins, with primary applications in architectural paints. China and India, supported by robust construction activity and the ensuing increase in demand for resins used in coatings, will drive growth in the market.
The research report, titled Acrylic Resins: A Global Strategic Business Report and offered by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, mergers, acquisitions and other strategic industry activities of major players worldwide. For more information about the report, visit http://www.strategyr.com/Acrylic_Resins_Market_Report.asp.