Acrylic Resins Market Size, Share, Industry Trends and Forecast to 2033
This report provides a comprehensive analysis of the Acrylic Resins market, detailing market size, growth forecasts, segment analysis, regional insights, industry challenges, and emerging trends from 2023 to 2033.
| Metric | Value |
|---|---|
| Study Period | 2023 - 2033 |
| 2023 Market Size | $10.60 Billion |
| CAGR (2023-2033) | 4.7% |
| 2033 Market Size | $16.93 Billion |
| Top Companies | BASF SE, Dow Chemical Company, Evonik Industries AG, Arkema S.A., Mitsubishi Chemical Corporation |
| Last Modified Date | 15 Nov 2024 |
Acrylic Resins Market Report (2023 - 2033)
Acrylic Resins Market Overview
What is the Market Size & CAGR of Acrylic Resins market in 2023?
Acrylic Resins Industry Analysis
Acrylic Resins Market Segmentation and Scope
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Acrylic Resins Market Analysis Report by Region
Europe Acrylic Resins Market Report:
The European region's market is projected to grow from $2.81 billion in 2023 to $4.48 billion by 2033, supported by stringent regulations on the use of volatile organic compounds (VOCs) in coatings and growing emphasis on sustainability in various applications.Asia Pacific Acrylic Resins Market Report:
The Asia Pacific region holds a significant share of the Acrylic Resins market, valued at approximately $2.32 billion in 2023 and projected to reach $3.71 billion by 2033. The region's growth is driven by booming industrial activities, particularly in China and India, where demand for paints and coatings is surging due to rapid urbanization and industrialization.North America Acrylic Resins Market Report:
North America's Acrylic Resins market is estimated at $3.88 billion in 2023, expected to rise to $6.20 billion by 2033. The U.S. and Canada are spearheading this growth due to advancements in manufacturing technologies and increasing government regulations favoring environmentally friendly products.South America Acrylic Resins Market Report:
In South America, the market is projected to grow from $0.76 billion in 2023 to $1.22 billion by 2033. This growth is manifestations of increasing consumer demand for durable and sustainable materials, primarily in Brazil and Argentina, driven by both construction and automotive industries.Middle East & Africa Acrylic Resins Market Report:
In the Middle East and Africa, the market is expected to progress from $0.83 billion in 2023 to $1.33 billion by 2033, with significant contributions from the construction sectors of the UAE and South Africa leveraging acrylic resins' beneficial properties.Request a custom research report for industry.
Acrylic Resins Market Analysis By Product Type
Global Acrylic Resins Market, By Product Type Market Analysis (2023 - 2033)
The Acrylic Resins market by product type reveals that solvent-based products dominate the market with an estimated size of $6.96 billion in 2023, anticipated to reach $11.12 billion by 2033. Water-based products follow, growing from $2.39 billion to $3.82 billion, while powder coatings are projected to rise from $1.25 billion to $2.00 billion within the same timeframe.
Acrylic Resins Market Analysis By Application
Global Acrylic Resins Market, By Application Market Analysis (2023 - 2033)
In terms of application, the paints and coatings segment is poised for substantial growth, accounting for $5.49 billion in 2023 and projected to escalate to $8.78 billion by 2033. This segment's significant contribution is tied to rising construction and automotive activities globally. The automotive sector also shows strong growth potential, evolving from $2.52 billion to $4.03 billion.
Acrylic Resins Market Analysis By End User
Global Acrylic Resins Market, By End-User Industry Market Analysis (2023 - 2033)
Acrylic resins serve various end-user industries including automotive, construction, electronics, and consumer goods. The automotive industry is projected to maintain a share of 23.78% by 2033, growing significantly given the boom in electric vehicle production and manufacturing efficiencies. The construction industry follows closely, reflecting growth trends in infrastructure investments.
Acrylic Resins Market Analysis By Formulation
Global Acrylic Resins Market, By Formulation Market Analysis (2023 - 2033)
The formulations of Acrylic Resins can be segmented into solvent-based, water-based, and powder coatings. Solvent-based resins take the majority market share with 65.65% in 2023, supported by strong demand in heavy-duty applications. Water-based alternatives are gaining traction as eco-friendly solutions, projected to hold 22.53% by 2033.
Acrylic Resins Market Trends and Future Forecast
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Global Market Leaders and Top Companies in Acrylic Resins Industry
BASF SE:
BASF is a leading global chemical company that produces a variety of polymer-based products, including acrylic resins which serve as key materials in coatings, adhesives, and other applications.Dow Chemical Company:
Dow provides a wide range of acrylic resins, known for their exceptional versatility and efficiency in various applications, especially focusing on sustainability and innovation.Evonik Industries AG:
Evonik is a technology-driven specialty chemicals company producing innovative acrylic resins tailored for high-performance and sustainable applications.Arkema S.A.:
Arkema offers a comprehensive range of acrylic resins and is committed to advancing sustainability through innovative product development.Mitsubishi Chemical Corporation:
Mitsubishi Chemical produces high-quality acrylic resins, with a focus on research and development to enhance performance and sustainable solutions.We're grateful to work with incredible clients.
