Austin, Aug. 09, 2024 (GLOBE NEWSWIRE) -- The Acrylic Polymer Market Share was valued at USD 610 million in 2023, and is expected to reach USD 883.4 million by 2032, and grow at a CAGR of 4.2% over the forecast period 2024-2032.
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Key Players:
- Kamsons Chemicals Pvt. Ltd
- Celanese Corporation
- Nippon Shokubai Co. Ltd.
- BASF SE
- Pexi Chem Private Limited
- The Dow Chemical Company
- The Lubrizol Corporation
- Xyntra Chemicals B.V.
- Asian Paints Ltd.
- StanChem, Inc.
The global acrylic polymer market has surged by many folds in the recent past due to its immense potential in applications such as adhesives, decorative coatings, and construction materials. As of March 2024, BASF has set a planned instance on the buildup of production capacity for its South Korean facility of acrylic polymers, with the market demand increasing to supplement high-performance coatings. The move underlines the strong demand for acrylic polymers, in particular from the automobile and building industries. In addition, in January 2024, Dow Inc. rolled out a new series of sustainable acrylic polymers that ensure higher performance with lower environmental impact the trend is toward greener solutions. These developments underline the dynamic nature of the market and continuous innovations taking place in the future.
Market dynamics are influenced by several factors in acrylic polymers. Growing demand for water-based adhesives and paints has been boosted by tightening environmental regulations, particularly with consumer preference for low-VOC products. This was further supported by the expansion in the construction industry, notably in developing economies, since there are sizeable uses for acrylic polymers in sealants and coatings. Furthermore, the growing demand for green, energy-efficient building materials accompanies a strong interest in acrylic polymers for better performance relative to environmental standards. Improving product performance and versatility through technological developments and new polymer formulations underpin further the resilience of the market.
Acrylic Polymer Market Report Scope & Overview:
| Report Attributes | Details |
| Market Size in 2023 | USD 610 million |
| Market Size in 2032 | USD 883.4 million |
| CAGR (2024-2032) | 4.2% |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Market Driver |
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Segment Analysis
In 2023, the water-borne segment dominated the acrylic polymer market, with an estimated market share of approximately 55%. This can be attributed to the rising regulatory emphasis on reducing volatile organic compounds and the growing preference for eco-friendly products. The water-borne acrylic polymer has widespread application in paints, coatings and adhesives because of low-toxicity, indirect environmental attack and ease in application. For example, many contractors and architects involved in residential and commercial construction have switched to environmentally responsible building products, thus increasing the demand for water-borne coatings. This trend is expected to continue over the forecasted period. Expansion of this segment is driven also by the increasing utilization of water-borne coatings by the leading automotive companies to help meet toughening emissions standards.
Environmental Impact of Acrylic Polymer Microplastics on Marine Life, Land, and Climate
Microplastics are small particles of plastic having sizes less than 5mm. The repercussions of microplastics on the water, soil, and climate ecosystems from anionic polymers and other sources turn out to be more and more serious. These particles are present in the environment due to several pathways, including the degradation from macroplastics, and the direct emissions through the utilization of paints and coatings. In the sea, microplastics are ingested by various organisms that breakthrough food chains and cause physical and chemical damage to marine life. On land, microplastics contaminate soils and freshwater systems, affecting plant growth and terrestrial wildlife. Besides, through the production and degradation processes, they increase greenhouse gas emissions, which, again, enhances climate change. The pervasive presence of microplastics underlines the need for sustainable practices and innovative solutions in the acrylic polymer market as a way of reducing environmental impacts and instituting ecological balances.
Regional Analysis
North America dominated the acrylic polymer market, holding an estimated share of approximately 30% in 2023. The drivers for this dominance are predominantly infrastructural, industrial, and demand-related, particularly for high-performance coating and adhesive applications. The United States and Canada, in particular, have huge construction and automotive markets demanding acrylic polymers in a variety of applications, from protective, long-lasting coatings to impact-resistant parts for the automotive industry, in addition to highly advanced building materials. The big three U.S. auto manufacturers, for instance, are increasing the usage of acrylic polymers in exterior and lighting applications due to such superior properties. On the contrary, the trend toward green and eco-friendly products, coupled with stringent environmental regulations in the region, will also augur well for water-borne and low-VOC acrylic polymers.
Recent Developments
February 2024: Mallard Creek Polymers launched an innovative acrylic water-based emulsion applied to functional barrier coatings. Customized for strong resistance to oil and grease, even at fluctuating temperatures, for use in applications like food packaging.
September 2023: BASF introduced an innovative production process for 2-Octyl Acrylate 2-OA that is both effective and can be implemented on an industrial scale. This new acrylic monomer has an outstanding 73% bio-based content, confirmed by C-14 analysis.
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Key Takeaways:
- The Acrylic Polymer Market Grows on Strong Demand from Construction and Coatings
- A trend of recent innovations and expansions among leading players signifies the thrust of the industry towards sustainability and performance enhancement.
- Raw material cost pressure, environmental regulations, and strategic planning would take prime importance for manufacturers in their future plans.
- The Asia-Pacific region continues to take the lead in the world market, boosted not by the increase in consumption but by the growth of industry.
Table of Contents – Major Key Points
1. Introduction
2. Industry Flowchart
3. Research Methodology
4. Market Dynamics
4.1 Drivers
4.2 Restraints
4.3 Opportunities
4.4 Challenges
5. Porter’s 5 Forces Model
6. Pest Analysis
7. Acrylic Polymer Market Segmentation, By Type
- Solvent-Borne
- Water-Borne
8. Acrylic Polymer Market Segmentation, By Application
- Laundry & Detergent
- Industrial & Institutional
- Hard Surface Cleaning
- Dish Washing
- Others
9. Regional Analysis
10. Company Profiles
11. Competitive Landscape
12. Use Case and Best Practices
13. Conclusion
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