Rising Demand for Use in Paint and Coating Applications and Development of Eco-friendly Acrylic Resins to Help Global Solid Acrylic Resins Market Reach Valuation of US$ 3.46 Bn By 2031, Notes TMR Study
- Producers of solid acrylic resins are witnessing increased potential in adhesives, toners &inks, and acrylic sheets & castings
- Manufacturers are boosting the production of hydrophobic pure acrylics for water-resistant coatings
ALBANY, N.Y., Dec. 2, 2021 /PRNewswire/ -- Transparency Market Research: Solid acrylic resins are thermosetting plastic or thermoplastic substances that are extracted from methacrylic acid, acrylic acid, and methacrylate monomers such as methyl methacrylate or acrylate monomers such as butyl acrylate. Solid acrylic resins are used in the composition of clear coatings for commercial applications. Solid acrylic resins are also good for brightly and evenly spreading colors in inks and paints. This factor is likely to foster the growth of the global solid acrylic resins market in the near future.
Solid acrylic resins are increasingly being used in both consumer and industrial products. Leading specialty chemical supplier, Nouryon, is ramping up the production of poly(meth)acrylics, which are utilized as water-based coating resins and solvents. Solid acrylic resins are simple to make and it works well with urethanes and epoxies, among others. The increased use of solid acrylic resins in the paints &coatings sector is likely to propel the market forward during the forecast period.
In terms of revenue, the global solid acrylic resins market is expected to grow at a CAGR of 7.3% during the forecast period, from 2021 to 2031.
Increasing Demand for Use in Paints and Coatings to Spell Market Growth
The market is likely to be driven by increase in the demand for paints and coatings with added solid acrylic resins. The acrylic resin-based sector is dominated by commercial and residential structures. Surge in demand for single unit family houses, changing lifestyles, rising disposable income of consumers, and hassle-free ways of financing have all contributed to a considerable increase in residential construction during the past few years.
Exterior coatings are commonly used to keep materials from corroding. Acrylic resin-based exterior coatings provide excellent gloss as well as color retention. They are long-lasting and have strong adherence to the substrate. Industrial coatings safeguard materials and goods from corrosion and decomposition, while also giving the product, substrate, or a coated surface a vibrant and appealing look. Acrylic resin-based industrial coatings dry fast and have a high gloss capability.
High Production of Hydrophobic Pure Acrylics to Deliver Water-resistant Coatings
Companies in the solid acrylic resins market have increased the production of hydrophobic pure acrylics for water-resistant coatings. Malaysia-based Arkema Coating Resins is expanding its water-resistant coatings offering with hydrophobic pure acrylics. Adaptability, multi-purpose application, and excellent performance are the benefits of hydrophobic pure acrylics and these attributes widely are used in its promotion.
Solid acrylic resins outperform traditional all-purpose outdoor and interior paints and varnishes. Such developments are likely to assist in the expansion of the global solid acrylic resins market in the years to come. In external masonry applications, pure acrylic resins have shown to be more durable and adhere better. Solid acrylic resins, which are used to make paints that assist in boosting stain resistance, are in high demand.
Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.