Global Acrylic Resin Market - 2021-2028
|出版日期||內容資訊||英文 180 Pages
|全球丙烯酸樹脂市場：2021-2028 Global Acrylic Resin Market - 2021-2028|
|出版日期: 2021年07月30日||內容資訊: 英文 180 Pages||
丙烯酸樹脂基於丙烯酸酯和甲基丙烯酸酯單體，適用於外部應用，例如良好的耐水解性、耐候性以及保持光澤和顏色。由於其性能和多功能性，丙烯酸塗料佔所有塗料的 25% 以上，全球銷售額超過 250 億美元。在這份報告中，我們調查了全球丙烯酸樹脂市場，並按成分、溶解力、形式、最終用戶、應用、地區和進入市場的公司概況提供了市場概況以及趨勢。
Acrylic Resin Market Overview
The acrylic resin market size was worth US$ XX billion in 2020 and is estimated to reach US$ XX billion by 2028, growing at a CAGR of XX % during the forecast period (2021-2028).
Acrylic resins are used in various applications ranging from consumer items like lenses to industrial products like coatings, molding materials, and adhesives due to their excellent transparency and durability. Moreover, acrylic resins are used in other areas as well, such as binders for fiber processing, display windows for cellular phones, PC screens and light guide panels for liquid crystal display backlights.
The acrylic resin has been widely used in industries due to its features like solid surface and thermoformability, allowing heating, bending into shapes and cooled without any physical effect. Moreover, acrylic resin is more durable than polyester due to its greater tensile strength and can hold up to heavier use. Finally, acrylic resin ensures a cleaner and stronger product.
Acrylic resins are based on acrylate and methacrylate monomers and provide good resistance to hydrolysis, weather resistance, gloss and color retention in exterior applications. Due to their performance and versatility, acrylic coatings account for over 25% of all coatings and global sales, reaching over $25 billion.
Acrylic Resin Market Dynamics
The global acrylic resin market growth is driven by vital applications in the automotive industry, need for high-performance materials in the building & construction industry and demand for eco-friendly resin systems.
Vital applications in the automotive industry
The demand for the acrylic resin market is expected to drive with vital applications in the automotive industry. Waterborne acrylic Acrylic resins offer optical clarity, light transmission, weatherability, heat resistance, and scratch resistance, making them suitable for numerous applications in the automotive sector, including interiors, exterior panels, and instrument clusters. The growth of the automotive industry, majorly in Asia, has been increasing with demand for reducing the weight of vehicles.
Thermoplastic acrylic polymers have excellent properties including exterior durability. Such types of resins are widely used in automotive OEM and Refinish topcoats. Leading companies such as Plexiglas have offered a wide variety of acrylic resins for exterior and interior applications in the automotive industry, including high gloss, rich, jet-black color pieces, panel optics, trim, and more.
Health hazards associated with acrylic resin
The acrylic resin market is impacted by the health hazards related to its use. Acrylic resins contain traces of ethyl acrylate, a chemical having potential danger in contact with humans. Moreover, the International Agency for Research on Cancer has classified ethyl acrylate as a carcinogen, causing cancer to human organisms.
The health hazards associated with solvent based resins include dizziness, headache, unconsciousness, and seizures. Moroever, irritation in eye, nose and throat are other problems while working with thw resins. VOCs in paint systems are also harmful and can affect the body, such as headaches, allergies, asthmatic reactions and can cause stress on organs such as heart and lungs.
COVID-19 Impact Analysis
Due to the pandemic, stakeholders across the acrylic resin industry have seen a notable impact as all the production work, factories and other activities were closed. The production was hindered by halts and supply chain disruption globally. After the pandemic, the governments still impose various restrictions, such as working with half the workforce and fewer operating hours hindering the production cycle of the market. As a result, the losses are incorporated with less demand from construction, coating & paintings, consumer goods, electrical & electronics and associated industries. However, the market is expected to recover after the pandemic, with sectors aiming to complete the existing projects with higher production rates to recover from the incorporated losses.
Acrylic Resin Market Segment Analysis
By solvency, the acrylic resin market is broadly classified into water-based resin and solvent-based resin.
The water-based resin is expected to grow at the fastest CAGR during the forecast period (2021-2028)
The water-based resins are expected to hold the largest market for acrylic resin market and are expected to continue their dominance in the forecast period. High-performance resins and developed with water-based acrylic polymers offer improved products over solvent-based products. In addition, environmentally friendly water-based acrylic resins are used in many industrial applications, including industrial printing inks, coatings and high-gloss varnishes.
The leading market players have been offering various water-based resins to cater to the industry's demand. For instance, in 2019, Allnex has developed a high-class waterborne acrylic resin SETAQUA® 6799 to meet the needs of the joinery and decorative wood markets. Moreover, in 2020, Engineered Polymer Solutions has launched the EPS 2400 series in North America. EPS 2400 consists of six waterborne acrylic resins for wood coating formulators to develop high-performance solutions for industrial applications and furniture, cabinetry, and flooring.
Acrylic Resin Market Geographical Analysis
Asia Pacific region holds the largest market for the global acrylic resin globally
Asia Pacific region holds the largest market share for the acrylic resin market globally and is expected to continue its dominance in the forecast period with increasing demand from the rapid industrialization in the region. The developing construction industry in emerging nations and high investments in the sectors is owing to the growth of the acrylic resin market. For instance, according to the New Building Materials and Construction World Magazine report, a 10-country regional bloc consisting of Indonesia, Malaysia, Thailand, Philippines, Viet Nam, Cambodia, Myanmar, Singapore, Laos, and Myanmar highlights $250 billion potential in construction. The acrylic resins are used mainly in the construction industry and industrial sectors. The region has been seeking high demand for acrylic resins for automotive light covers, aquarium tanks, coatings and construction materials.
The market has been offered huge investments from multinational companies in the region. For instance, in 2021- Mitsubishi Chemical Corp. and its consolidated subsidiary Mitsubishi Chemical Methacrylates Japan Co., Ltd plan to construct facilities in Japan to implement verification testing for commercializing molecular recycling operations for PMMA (polymethyl methacrylate; acrylic resin). Moreover, in 2019, DIC Corporation has completed the acquisition of mid-tier Indian resins manufacturer Ideal Chemi Plast Pvt. Ltd to strengthen its position in the region.
Acrylic Resin Competitive Landscape
The acrylic resin market is highly competitive with the local player's presence, followed by the global companies, contributing to the major share in the market growth. In addition, some of the key players contributing to the growth of the market are Akzo Nobel N.V., Arkema, PPG Industries Inc., Evonik Industries, Masco Corporation, BASF SE, Stepan Company, Mitsubishi Chemical Corporation, Linetec, Inc, Allnex, Benjamin Moore & Co., Cloverdale Paint Inc., Eastman Chemical Company, Dow Chemical Company, Innotek Technology Limited, Solvay, Yip's Chemical Holdings Limited and others. The major players are adopting various new strategies to dominate the market, such as product launches, expansions, acquisitions and collaborations, contributing to the growth of the acrylic resin market globally.
Overview: Allnex is a manufacturer of industrial coating resins and additives for industrial, architectural, protective, automotive and special purpose coatings and inks. The company has around 33 manufacturing facilities and five joint ventures spread across five continents: North and South America, Oceania, Asia and Europe.
Product Portfolio: The Company's wide range of product portfolio includes waterborne resins, urethane specialties, solvent-borne resins, powder coating resins, energy curable resins, phenolic crosslinkers and others
Key Development: In 2021, Allnex has announced a formal establishment of Allnex Advanced Materials Co, Ltd (Jiaxing). In addition, the company is also planning to construct a production base of high-performance resins to promote green innovation and meet the rising demands of China.
The global acrylic resin market report would provide access to an approx: 77 market data table, 79 figures and 250 pages.
LIST NOT EXHAUSTIVE