essentially constitute a group of thermoplastic resins that require the polymerization of esters of amides of acrylic or methacrylic acid for their production. Properties of acrylic resin such as resistance to high temperatures and impact resistance have made it suitable for use in a wide variety of applications. Some of the applications include automotive, medical devices, paints and coatings, adhesives and sealants, paper, textiles and several more.
Acrylic glass makes for a good substitute for ordinary glass owing to its strength. It can be used to make tail lights in automobile and the scratch resistant property that it exhibits when treated has proven to be extremely beneficial for the automotive industry. In the case of paints and coatings, acrylic resins have proven to be very well suited owing to their ability to retain color and sustain the outdoor environment. Acrylic resins are also used for sanitary wares
The global acrylic resin market
has grown remarkably in the last 2-3 years and is expected to do so till the end of the forecast period. Increasing demand from developing economies across the world is driving the growth of this market. There are certain factors, however, such as, environmental impact and associated regulations and high price of raw materials, are expected to hinder the growth of this market.
The Acrylic Resin market can be segmented on the basis of types Methacrylates, Acrylates, Styrene Acrylic, Hybrids & Others. Paints and Coatings currently accounts for the largest share of the acrylic resin market. In terms of industries, the Acrylic Resin market has been segmented across the following Paints & Coatings, Medical, Automotive, Construction, Textiles, Paper, Adhesives & Sealants, Consumer Products and Others.
Asia Pacific currently holds the dominant share of the global acrylic resin market and this trend will continue till the end of the forecast period. The presence of some of the major players in this region coupled with large and growing economies like China and India are responsible for APAC having the largest share. North America and Europe have a relatively mature market for acrylic resnins and government regulations are also slowing down the growth to a certain extent. The market has been segmented based on the following geographies North America, South America, APAC, Europe, Middle East and Africa.
Sample Companies Profiled in this Report are:
- The Dow Chemical Company
- Sumitomo Chemical
- Henkel AG
- Arkema SA