Acrylic Polymer Market By Type (Solvent Borne, Water Borne), By Application (Paints and Coatings, Adhesives and Sealants, Industrial water treatment additives, Textiles, Cleaning/Detergents, Super Absorbent Polymer, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032
The acrylic polymers market was valued at $20.0 billion in 2022 and is estimated to reach $36.9 billion by 2032, exhibiting a CAGR of 6.4% from 2023 to 2032.
Factors such as increase in disposable income, technological upgrades, and spurring rise in original equipment manufacturers (OEMs) have led the automotive sector to witness a significant growth. For instance, according to an article published by The China Association of Automobile Manufacturers in January 2023, China’s auto sell rose by 9.5% in 2022 as compared to 2021 owing to rise in sales of electric vehicles in the country.
Acrylic polymers play a critical role in enhancing the performance, aesthetics, and durability of automotive components, contributing to the advancement of modern vehicles. Their diverse properties make them indispensable across various automotive applications, from coatings and adhesives to interior trim and lighting. This factor is expected to foster the demand for acrylic polymer in the rise in automotive sector; thus, fueling the growth of the acrylic polymers market.
Furthermore, One of the primary reasons for the growing preference for water-based acrylic coatings is their eco-friendliness. These coatings have lower levels of volatile organic compounds (VOCs) as compared to solvent-based coatings. VOCs are harmful air pollutants that contribute to air quality deterioration and pose health risks to humans and the environment. As environmental regulations become more stringent worldwide, there is a greater emphasis on reducing VOC emissions, driving the shift towards water-based coatings. Additionally, water-based acrylic coatings align with sustainability initiatives pursued by many industries and consumers. With growth in awareness of environmental issues such as climate change and resource depletion, businesses are under pressure to adopt more sustainable practices. Water-based coatings, being less harmful to the environment, contribute to these sustainability goals, making them a preferred choice for environmentally conscious consumers and companies.
Furthermore, water-based acrylic coatings offer improved safety and health benefits compared to solvent-based coatings. They have lower toxicity levels, reducing the risks associated with exposure during application and use. This makes water-based coatings more suitable for indoor applications where ventilation may be limited, such as in residential and commercial buildings.
Moreover, technological advancements have also played a crucial role in enhancing the performance of water-based acrylic coatings. Manufacturers have developed formulations that provide excellent adhesion, durability, and resistance to various environmental factors such as UV radiation, moisture, and abrasion. These coatings can now achieve similar or even superior performance compared to solvent-based alternatives, driving wider adoption across different applications. These factors altogether are expected to surge the demand for water-based acrylic coatings across numerous end-use industries; thus, augmenting the growth of the acrylic polymers market.
However, one significant restraint facing the acrylic polymers market is the volatility in the prices of raw materials. Acrylic polymers are derived from petrochemical sources, primarily acrylic acid and methacrylic acid, which are sensitive to fluctuations in crude oil prices. Any instability in oil prices can directly impact the production costs of acrylic polymers, affecting profit margins for manufacturers. Additionally, the availability of raw materials can also be influenced by geopolitical factors, trade tensions, and supply chain disruptions, further exacerbating price volatility and uncertainty for industry players.
On the contrary, one significant opportunity for the acrylic polymers market lies in the growing demand for lightweight materials across various industries, including automotive, aerospace, packaging, and construction. Acrylic polymers offer a favorable combination of properties, including high strength-to-weight ratio, durability, and design flexibility, making them well-suited for lightweight applications. With increasing emphasis on fuel efficiency, emissions reduction, and sustainability, there is a growing need for lightweight materials that can help manufacturers achieve these objectives. Acrylic polymers can play a crucial role in meeting this demand by providing lightweight solutions for automotive components, aircraft interiors, packaging materials, and building materials, thereby opening new opportunities for market growth and expansion.
Moreover, another significant opportunity for the acrylic polymers market is the rising demand for sustainable solutions and eco-friendly materials. As awareness of environmental issues continues to grow, consumers, regulators, and businesses are increasingly prioritizing sustainability and seeking alternatives to conventional plastics derived from fossil fuels. Acrylic polymers can capitalize on this trend by offering sustainable solutions such as bio-based acrylics, recycled acrylics, and biodegradable acrylics. These eco-friendly alternatives can help reduce reliance on petrochemicals, minimize carbon footprint, and mitigate plastic pollution, thereby addressing the sustainability concerns of stakeholders across the value chain. By investing in research and development, innovation, and collaboration with partners in the bio-based and recycling industries, acrylic polymer manufacturers can position themselves as leaders in sustainable materials and capture new market opportunities.
The acrylic polymers market is segmented on the basis of type, application, and region. On the basis of type, the market is categorized into solvent borne and water borne. By application, the market is divided into paints and coatings, adhesives and sealants, industrial water treatment additives, textiles, cleaning/detergents, super absorbent polymer, and others. Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
The global acrylic polymers market profiles leading players that include Dow Inc., BASF SE, Arkema, DuPont, Mitsui Chemicals, Inc., NIPPON SHOKUBAI. CO. LTD, The Lubrizol Corporation, Ashland Inc, TOAGOSEI CO., LTD., and Sumitomo Chemical Co., Ltd. The global acrylic polymers market report provides in-depth competitive analysis as well as profiles of these major players.
Key Benefits For StakeholdersThis report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the acrylic polymer market analysis from 2022 to 2032 to identify the prevailing acrylic polymer market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the acrylic polymer market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global acrylic polymer market trends, key players, market segments, application areas, and market growth strategies.
Key Market SegmentsBy TypeSolvent Borne
Water Borne
By ApplicationPaints and Coatings
Adhesives and Sealants
Industrial water treatment additives
Textiles
Cleaning/Detergents
Super Absorbent Polymer
Others
By RegionNorth America
U.S.
Canada
Mexico
Europe
Germany
UK
France
Spain
Italy
Rest of Europe
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
LAMEA
Brazil
Saudi Arabia
South Africa
Rest of LAMEA
Key Market Players
Dow Inc.
BASF SE
Arkema
DuPont
Mitsui Chemicals, Inc.
NIPPON SHOKUBAI. CO. LTD
The Lubrizol Corporation
Ashland Inc
TOAGOSEI CO., LTD.
Sumitomo Chemical Co., Ltd.