Global Acrylic Resins Market Information by Type (Methacrylates, Acrylates and Hybrids), Property (Thermoplastic, Thermosetting), Application (paints & Coatings, Construction, Paper & Paperboard, Textiles, Fibers & Adhesives) Forecast till 2023
Pune, India -- (SBWIRE) -- 03/05/2018 -- Segmentation:
The Global Acrylic Resins Market is segmented into the type, property, and application. On the basis of type, it is sub-divided into methacrylates, acrylates and hybrids segments. On the basis of the property, the market is segregated into thermoplastic and thermosetting segments. On the basis of the application, it is classified into paints & coatings, construction, paper & paperboard, textiles, and fibers & adhesives.
Some of the major players functioning in the Global Acrylic Resins Market are BASF SE (Germany), The Dow Chemical Company (U.S.), Arkema S.A. (France), Air Products and Chemicals, Inc. (U.S.), NIPPON SHOKUBAI CO., LTD. (Japan), Formosa Plastics Corporation (U.S.), Mitsubishi Chemical Holdings Corporation (Japan), DIC CORPORATION (Japan), Hexion (U.S.), and Hitachi Chemical Co., Ltd (Japan) among others.
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Acrylic Resins are used in a wide variety of applications such as lacquers, varnishes, and others that offers significant properties such as hardness, ductility, aesthetic appearance, weather resistance to the final product. The Global Acrylic Resins Market is spanned across five regions: Asia Pacific, Europe, North America, Latin America, and the Middle East & Africa. Among these, Asia Pacific holds the major portion of the market due to extensive use of resins in paints & coatings, construction, paper & paperboard, textiles, fibers & adhesives. China is the leading producer of acrylic resins and is expected to continue its dominance due to rapidly increasing infrastructural development, consumer consumption, capital investment, and growing capita per income. Moreover, countries such as China, Taiwan, Japan, and India have also recognized a rapid growth due to rapid consumption of the product in the end-use industries.
A significant growth is achieved by the North America region due to growing demand for Acrylic Resins in waterproof, automotive, and industrial coatings. The increasing replacement of solvent-based products by water-borne coatings has driven the market in the U.S., Canada, and Mexico. Moreover, the endless consumption of bio-compatible products in various applications is set to drive the market over the assessment period.
The European region has received a notable growth in the market due to boundless use of acrylic resins as binders in decorative coatings, weatherproof coatings, and others. The growing innovation and technological advancement have driven the countries such as the U.K., Germany, and Italy in the region.
The increasing investments and rapid production of Acrylic Resins in the petrochemical industries have boosted the market in the Middle East & African countries such as Qatar, Saudi Arabia, and U.A.E. Additionally, the Latin American region has witnessed a significant growth in Brazil, Uruguay and Argentina owing to growing adoption of product in construction, textiles, and other sectors.
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