The acrylic resins market is expected to witness significant growth due to their expanding applications in various industries such as building and construction, automotive, paints and coatings, and electronics. The rise in new city projects in emerging economies like China, India, and Japan, driven by rapid urbanization and population growth, is expected to drive the demand for acrylic resins.

Acrylic Resin Market size was valued at USD 21.77 Billion in 2023 and is poised to grow from USD 22.9 Billion in 2024 to USD 34.36 Billion by 2032, growing at a CAGR of 5.2% during the forecast period (2025-2032).

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Key Market Drivers

• Construction and Infrastructure Growth: Rapid urbanization and infrastructure development, particularly in emerging economies like China, India, and Japan, are boosting demand for acrylic resins in paints, coatings, and adhesives.
• Automotive Industry Demand: Acrylic resins are increasingly used in automotive applications for their durability and aesthetic appeal, contributing to market growth.
• Shift Towards Eco-Friendly Solutions: Environmental concerns are driving the adoption of water-based and bio-based acrylic resins, which offer lower volatile organic compound (VOC) emissions.

Market Segmentation Insights

• By Chemistry:
  • Acrylates
  • Methacrylates
  • Hybrids
• By Solvency:
  • Water-Based
  • Solvent-Based
  • Others
• By Application:
  • Paints & Coatings
  • Adhesives & Sealants
  • DIY Coatings
  • Elastomers
  • Others
• By End-User:
  • Building & Construction
  • Industrial
  • Paper & Paperboard
  • Consumer Goods
  • Electrical & Electronics
  • Packaging
  • Others

Regional Outlook

• Europe: Held the largest market share in 2022, driven by stringent environmental regulations and high demand in the automotive sector.
• Asia-Pacific: Expected to witness significant growth due to rapid industrialization and urbanization in countries like China and India.

Leading Market Players

Key companies in the acrylic resin market include:

• BASF SE
• The Dow Chemical Company
• Arkema Group
• Mitsubishi Chemical Corporation
• Nippon Shokubai Co., Ltd.
• DIC Corporation
• Evonik Industries AG
• Sumitomo Chemical Co., Ltd.
• LG Chem, Ltd
• Formosa Plastics Corporation
• Wacker Chemie AG
• Solvay S.A.
• Shin-Etsu Chemical Co., Ltd.
• Covestro AG
• Kuraray Co., Ltd.
• SABIC
• Eastman Chemical Company

These companies are focusing on product innovation and strategic partnerships to strengthen their market positions.

Future Outlook

The acrylic resin market is poised for steady growth, driven by increasing demand in construction, automotive, and consumer goods sectors. The shift towards sustainable and eco-friendly products is expected to open new avenues for market players.

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