New York, June 19, 2023 (GLOBE NEWSWIRE) -- The waterborne acrylic resin market was valued at 5.85 billion in 2022 and is forecasted to exhibit a growth rate of 4.7% from 2023 to 2033. Market growth is attributed to growing demand from various end-use industries such as paints & coatings, construction, packaging, textiles, adhesives, and sealants.
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The shift toward water-based technologies presents significant growth opportunities for manufacturers of waterborne acrylic resins. As industries worldwide increasingly prioritize sustainability and environmental stewardship, there is a growing demand for eco-friendly alternatives to traditional solvent-based systems. Manufacturers of waterborne acrylic resins, with lower VOC content, reduced environmental impact, and excellent performance properties, are well-positioned to capitalize on this trend.
Architectural coatings, automotive, packaging, and furniture industries, among others, are actively transitioning toward water-based technologies. The construction sector, in particular, is witnessing a surge in the demand for waterborne acrylic resin-based coatings, as green building practices and stringent regulations drive the adoption of sustainable materials. The packaging industry is embracing waterborne acrylic resins for their compatibility with food and beverage packaging, which requires compliance with strict safety and regulatory standards.
Europe accounts for a significant market share as cutting-edge technologies and high-end manufacturers help the region maintain its leading position. The East Asia region is a global hub for the manufacturing and consumption of various products. Robust growth of various end-use industries in countries like China, Japan, and South Korea is expected to create fair opportunities for producers in the region.
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Key Takeaways from Market Study
- The global waterborne acrylic resin market is estimated to reach US$ 9.59 billion by the end of 2033.
- The paints and coatings segment is predicted to expand at a 5% CAGR during the assessment period.
- The East Asia market is anticipated to create an incremental dollar opportunity of US$ 1.2 billion by 2033.
- The architectural coatings segment is forecasted to advance at 4.7% CAGR over the decade.
“Leading market participants are allocating a significant portion of their revenue toward green initiatives and the development of novel solvent-free technologies for waterborne acrylic resins, which is expected to drive market growth over the coming years,” says a Persistence Market Research analyst.
Competitive Landscape
Due to the presence of several players capturing the global market, the waterborne acrylic resin market is characterized by high consolidation. Some of the key market players included in the report are Dow Inc., Arkema SA, Allnex GmbH, Sherwin-Williams, Covestro AG, Lubrizol Corporation, DIC Corporation, Kansai Paint Co., Ltd., Sika AG, BASF SE, and many others. Key market participants are anticipated to maintain a competitive environment all over the globe.
Key players are investing a significant portion of their revenue in research & development to expand the applications of water-based resins. The industry is characterized by expansions, acquisitions, and collaborations.
Waterborne acrylic resins have various potential applications, but limited consumer/end-user knowledge and the availability of alternatives are important challenges that must be addressed before they can be widely used. Despite these challenges, demand for these resins has been growing significantly and is expected to remain high over the forecast period.
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More Valuable Insights on Offer
Persistence Market Research, a research and consulting firm, has published a new market research report on the global waterborne acrylic resin market that contains an industry analysis of 2018 to 2022 and an opportunity assessment for 2023 to 2033.
The report provides an in-depth analysis of the waterborne acrylic resin market through different segments, namely, application, end-use industry, and region. The report also provides supply and demand trends along with an overview of the parent market.
For additional insights on how the global waterborne acrylic resin market will shape up over the decade, write to media@persistencemarketresearch.com
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