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The current scenario in the acrylic resins market is dominated by a number of major players that include BASF SE
The global acrylic resins industry is a rapidly evolving market. The current scenario in the acrylic resins market is dominated by a number of major players that include BASF SE, The DOW Chemical Co., Arkema SA, Air Products and Chemicals, Inc., Formosa Plastics Corporation, Nippon Shokubai Co., Ltd., Mitsubishi Chemical Holdings Corporation, DIC Corporation, Momentive Specialty Chemicals Inc., and Hitachi Chemical Co., Ltd. Most of these companies are leaders in the production of acrylic acid,from which acrylic resins are derived by the process of esterification. These companies are focused on investment to establish new production facilities and capacity expansion of acrylic resins to achieve economies of scale, product innovation, and expansion to capture and improve market share.
The market players are concentrating on increasing new products and expansions.Expansions are becoming the need of the time, due to the ever increasing market of acrylic resins. Brazil, China, India and Mexico are new emerging markets and most of the expansions were made in this region only. For instance, Arkema S.A started operating its new plant in Changshu (China) in November 2013. Stringent VOC norms and increased awareness of customers on emissions, especially, forEurope and North America market are primary reasons behind new product launches.
Further, the leading market players invested in R&D facilities to develop new products to meet their customers’ needs. The fruit of their intensive R&D over the years is bio-based acrylics. It is an essential step towards sustainable development by the companies. In order to meet these demands, the market players such as BASF SE (Germany), Archer Daniels Midland Company (U.S.)are ready to start the production by mid-2014. The bio-based acrylics will help the companies to reduce their dependency on raw material prices.
Acrylic Resin Market by Type (Methacrylates, Acrylates & Hybrids), Solvency, Property (Thermoplastic & Thermosetting) & Application (Paints & Coatings, Construction, Industrial & Commercial, Paper & Paperboard, Textiles & Fibers & Adhesives) - Trends & Forecast to 2019
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