The global acrylic resins market size is projected to reach USD 23.1 billion by 2026 at a CAGR of 5.6% from 2021. Rapid industrialization and urbanization in key countries, such as China and India, have spurred the demand for acrylic resins in the past few years. The building & construction industry requires high-performance materials for protection and decorative purposes. Also, growth in sustainable and green buildings is fuelling demand for environment friendly formulations thus driving acrylic resins market.
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The increase in demand for acrylic resinsand the growing construction industry in the emerging economies,such as APAC and South America,aredriving the market. The key players in the acrylic resinsmarket include Dow (US), BASF SE (Germany), Arkema (France), Mitsubishi (Japan), Nippon Shokubai (Japan), DSM (Netherlands), Mitsui Chemicals (Japan), Showa Denko Materials (Japan), DIC Corporation (Japan) and Sumitomo (Japan).The acrylic resinsmarket reportanalyzes the key growth strategies, such as investment &expansion, new product launch,and joint venture, adopted by the leading market players between 2017and 2021.
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BASF is one of the largest chemical producers in the world and has established its presence in more than 80 countries, globally. The company operates through six business segments namely, chemicals, materials, industrial solutions, surface technologies, nutrition & care, and agricultural solutions. BASF offers acrylic resins under its chemicals segment. The company offers products to agriculture, automotive & transportation, chemicals, construction, paints & coatings, plastics, and rubber industries. BASF SE serves more than 100,000 customers in almost every country in the world. They have R&D centers present in 70 locations and operates with 390 production sites worldwide. The company has spent USD 2.4 billion for R&D in all the business segments. BASF provides acrylic resin formualtions which are used in wood coatings, high-performance inks, and protective applications. In November 2020, the company launched a portfolio acrylic based formulations which are used in wood coatings and provide excellent chemical resistance, scratch resistance, hardness, blocking resistance along with high wet transparency. This development further extended BASF’s reach in the furniture sector.
Arkema is a manufacturer of specialty chemicals and advanced materials. The company has organized its operations through four segments: adhesives solutions, advanced materials, coating solutions and intermediates. The company offers products to general industries, consumer goods, paints & coatings, construction, electronics & energy, automotive & transportation, nutrition, and water sectors. Arkema operates in around 55 countries with about 20,500 employees. The company has 13 research centres worldwide and a total of 144 production sites.In October 2020, the company launched a flexible acrylic sheet which is exceptionally chemical and impact resilient, has greater clarity, strength, lightweight, shock resistant, and flexible. This helped the company in delivering efficient solutions to application areas such as vehicle glazings, signage, lighting, interior architecture, and others.
