Selbyville, Delaware , May 23, 2024 (GLOBE NEWSWIRE) -- Acrylic Emulsion Market will surpass USD 22.3 billion by 2032, as per a recent study by Global Market Insights Inc.
As per the report, increasing demand for eco-friendly products is a major factor driving market growth. According to Roundup.org, 55% of consumers worldwide are willing to pay a premium for products or brands that contribute to improving society and the environment, slightly less than last year. As regulators around the world impose strict environmental regulations, industries are shifting toward water-based acrylic emulsions due to their lower VOC emissions and lower environmental impact. This trend is particularly visible in sectors such as paints and coatings, adhesives, textiles, and paper, where environmentally friendly solutions are desired. It is expected that the preference for acrylic emulsions over solvent-based alternatives will continue to grow, thanks to the rising awareness of consumers and companies about sustainability and environmental responsibility, which, in turn, will help shape the acrylic emulsion market outlook.
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Paper coatings to witness rising adoption
The paper coatings segment will register commendable expansion through 2032, as the paper industry has significant absorption capacity for acrylic emulsion-based coatings due to their superior properties, such as high gloss, better printability, and better durability. These coatings give paper products a smooth and attractive surface while offering excellent resistance against water and chemicals. As the packaging industry expands with the support of e-commerce and the consumer goods sector, the need for high-quality coated paper increases, which will help propel the demand for acrylic emulsions.
Automobile sector to emerge as a prominent end-user
The automotive segment will capture a significant acrylic emulsion market share by 2032, as acrylic emulsions are widely used in automotive coatings, adhesives, and sealants due to their exceptional properties, such as UV resistance, resilience, flexibility, and adherence. As the automotive industry moves towards lightweight and fuel-efficient vehicles, the use of high-performance materials such as acrylic emulsions is essential. In addition, the increasing demand for electric vehicles (EVs) is contributing to market growth. Furthermore, electric vehicle manufacturers are demanding advanced coatings that can withstand harsh conditions while providing aesthetic appeal, where acrylic emulsions excel, thus increasing product usage.
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Europe to emerge as a booming market.
Europe acrylic emulsion market will expand at an unprecedented pace through 2032 due to robust industrial activity and strict environmental regulations. Countries like Germany, France, and the UK are at the forefront thanks to their well-established automotive and construction industries. The European market is characterized by a strong emphasis on sustainable development and innovation. Regulatory frameworks such as the European Green Agreement are moving industries towards environmentally friendly products, thereby increasing the use of aqueous acrylic emulsions. In addition, the region's enhanced R&D capabilities will promote innovation in acrylic emulsion technologies, improving their application scope and efficiency.
Acrylic Emulsion Market Players
Major companies operating in the market are BASF SE, The Dow Chemical Company, Arkema Group, DIC Corporation, Nippon Shokubai Co., Ltd., Celanese Corporation, Synthomer plc, Wacker Chemie AG, Lubrizol Corporation. Their key growth strategies include extensive R&D to innovate new products with improved performance and durability.
In addition, strategic partnerships, collaborations, and acquisitions are generally used to expand product lines, enter new markets, and strengthen distribution networks. Market leaders are also focusing on geographic expansion and targeting emerging economies where the industry is growing. Furthermore, investing in marketing and sales promotion is helping increase brand awareness and strengthen customer loyalty. Citing an instance, in August 2022, Arkema launched SYNAQUA 9511, a powerful aqueous binder designed to produce industrial paints with lower VOC concentrations. The move has expanded Arkema's product range and strengthened its position as a market leader.
About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
