Chemicals Industry Today

Acrylic Resin Market Report 2023, Industry Trends, Growth, Size and Forecast Till 2028

Acrylic resin is a type of thermoplastic or thermosetting plastic derived from acrylic acid, methacrylic acid, or their esters. It is a synthetic polymer known for its transparency, toughness, and resistance to ultraviolet (UV) radiation.
Published 08 December 2023

The latest report by IMARC Group, titled “Acrylic Resin Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“, The global acrylic resin market size reached US$ 20.4 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 27.5 Billion by 2028, exhibiting a growth rate (CAGR) of 5.1% during 2023-2028.

Acrylic resin is a plastic material derived from acrylic acid, methacrylic acid, or other related compounds. They are highly versatile and are used in various applications due to their excellent optical clarity, durability, and resistance to UV radiation, moisture, and harsh chemicals. Acrylic resins can be found in two main forms: thermoplastic and thermosetting. Thermoplastic acrylics soften when heated and harden upon cooling, while thermosetting acrylics become permanently rigid once set and cannot be reshaped with heat. One of the most prominent uses of acrylic resin is in the production of paints and coatings. It provides a strong, long-lasting, and glossy finish to painted surfaces. Acrylic resins are also commonly used in adhesives, sealants, inks, and other industrial applications. The transparent nature of acrylic makes it a preferred choice for products like display cases, eyeglass lenses, and even some dental fillings. At present, acrylic resin finds extensive applications in various industries owing to its versatility and superior properties.

For an in-depth analysis, you can refer sample copy of the report:

Acrylic Resin Market Trends and Drivers:

The global acrylic resin market is primarily driven by the escalating product demand from the paints and coatings industry, where acrylic resins are favored for their superior finish, durability, and UV resistance. Moreover, the rapid expansion of the construction sector fueled by rapid urbanization and infrastructural developments has augmented the demand for acrylic-based sealants and adhesives, thereby supporting market growth. Apart from this, the rising demand for high-performance materials in the automotive and plastic industries, where acrylic raisins offer an advantageous blend of strength transparency and lightweight properties, is another major growth-inducing factor. Additionally, rapid industrialization, especially in emerging economies and the rising demand for environmentally friendly, water-based acrylic resins over solvent-based counterparts has catalyzed market growth. Furthermore, ongoing advancements in research and technology, including the development of innovative applications and hybrid acrylic resins catering to diverse industry needs, are contributing to market growth.

Report Segmentation:

The report has segmented the market into the following categories:

Breakup by Type:

  • Water-based
  • Solvent-based
  • Others

Breakup by Application:

  • Paints and Coatings
  • Adhesives and Sealants
  • Others

Breakup by End User:

  • Automotive
  • Building and Construction
  • Electronics
  • Packaging
  • Others

Market Breakup by Region:

  • North America (United States, Canada)
  • Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
  • Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
  • Latin America (Brazil, Mexico, Others)
  • Middle East and Africa

Competitive Landscape with Key Player:

  • Arkema S.A
  • DIC Corporation
  • Dow Inc.
  • Koninklijke DSM N.V.
  • Mitsubishi Chemical Corporation
  • Mitsui Chemicals Inc
  • Showa Denko Materials Co. Ltd.
  • Solvay S.A.
  • Sumitomo Chemical Co. Ltd.

Ask Analyst for Sample Report:

Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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