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Asia-Pacific, Europe and North America dominated the acrylic resins market
Methacrylates dominate the acrylic resins market and will be growing at a healthy CAGR in the next five years. Within the acrylic applications, paints and coatings industry will drive majority of the future growth in the acrylic resins market with new infrastructure projects (residential and commercial)coming up in the emerging regions like Asia-Pacific, Middle East, Africa, and Latin America.
Acrylic resinsare primarily used in the paints and coatings industry, due to their glossy finish and weather proof properties. Acrylic acid is the main raw material for the acrylic resins.
Asia-Pacific, Europe and North America dominated the acrylic resins market in 2013 and accounted for over 85% of the market.On the other hand, the Middle East and Africa are expected to witness above average growth rate by 2019. The market in Asia-Pacific, Middle East, and Africa is experiencing highpopulation growth,which drives the demand for more houses, resulting in an increase in paints and coatings and textile and fibers industry.The manufacturing facilities and the industries shifting to these markets will also drive acrylic resins growth and the availability of cheaper man-power, raw material (especially in West Africa and Middle East) will push the acrylic resins industry.
Recent development in the U.S. related to shale gas is the key turning point in the western markets for acrylic resins. It will result in reduced prices due to cheaper raw material. Stringent VOC regulations in Europe forced the manufacturers to shift from solvent-borne acrylics to water-borne acrylics. It is expected to see an increased use of water-borne acrylic in the coming years in Europe and other western markets.
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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