According to a report by SNS Insider, the Acrylic polymer market was valued at USD 0.53 billion in 2022. It is projected to reach USD 0.74 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 4.3% during the forecast period from 2023 to 2030.
Acrylic polymers are a type of synthetic polymers that are derived from acrylic acid or its derivatives. These polymers are widely used in various industries due to their desirable properties, versatility, and ease of processing. They have found applications in paints, coatings, adhesives, textiles, construction materials, and many other fields.
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The Major Key Company Profiles included in Acrylic Polymer market study are:
- Kamsons Chemicals Pvt. Ltd
- Celanese Corporation
- Pexi Chem Private Limited
- The Dow Chemical Company
- The Lubrizol Corporation
- Xyntra Chemicals B.V.
- Asian Paints Ltd.
- StanChem, Inc.
Market Analysis
The acrylic polymer market is influenced by various drivers that contribute to its growth and development. Acrylic polymers find extensive applications in industries such as paints and coatings, adhesives and sealants, textiles, construction, automotive, and healthcare. The growth of these end-use industries, driven by factors such as urbanization, industrialization, infrastructure development, and consumer preferences, fuels the demand for acrylic polymers.
Impact of Recession
Recessions have a significant impact on the acrylic polymer market, primarily due to reduced demand, cost-cutting measures, shifting supply chains, and changes in purchasing patterns. However, these challenging periods can also foster innovation, drive product development, and lead to market consolidation. By adapting to the evolving market conditions, acrylic polymer manufacturers can navigate recessions successfully and position themselves for future growth and stability.
Segmentation Analysis
The dominance of the water-borne and laundry & detergent segments in the acrylic polymer market is expected to continue as industries strive to meet the demands of sustainable and high-performance solutions. The environmental advantages, coupled with the superior properties of acrylic polymers, have driven their adoption in these segments. As the global focus on sustainability intensifies and consumer preferences evolve, the market is poised for continued growth in these dominant segments.
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The Acrylic Polymer Market Segments and Sub-Segments are Listed Below:
By Type
- Water-borne
- Solvent-borne
By Application
- Laundry & Detergent
- Dish Washing
- Industrial & Institutional
- Hard Surface Cleaning
- Others
Regional Status & Analysis
The Asia Pacific region is witnessing a remarkable rise in the acrylic polymer market, driven by factors such as economic growth, urbanization, robust manufacturing sector, changing consumer preferences, government initiatives, and research and development investments. As the region continues to grow and industrialize, the demand for acrylic polymers is expected to escalate further. This presents significant opportunities for industry players to expand their presence and tap into the burgeoning market in Asia Pacific.
Conclusion
The market has favorable future prospects due to its versatility, sustainable attributes, and increasing demand across various industries. Technological advancements, growing environmental concerns, emerging economies, and industry-specific requirements are likely to drive the market’s growth in the coming years.
Frequently Asked Questions/ Key Reasons to Purchase this Report
>What is the projected outlook for acrylic polymer market growth?
Ans- The market is projected to surpass a value of USD 0.74 billion by the year 2030.
>What are the major factors influencing the acrylic polymer market?
Ans- The growing environmental concerns and regulatory restrictions on volatile organic compounds (VOCs) have led to a shift towards water-based coatings in the paints and coatings industry.
>Who are the leading players in the acrylic polymer market?
Ans- Kamsons Chemicals Pvt. Ltd, The Dow Chemical Company, Celanese Corporation, Pexi Chem Private Limited, The Lubrizol Corporation, Asian Paints Ltd., StanChem, Inc.
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Table of Contents – Major Key Points
- Introduction
- Research Methodology
- Market Dynamics
- Impact Analysis
- Value Chain Analysis
- Porter’s 5 forces model
- PEST Analysis
- Acrylic Polymer Market Segment, By Type
- Acrylic Polymer Market Segment, By Application
- Regional Analysis
- Company Profile
- Competitive Landscape
- Conclusion
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