Acrylic Emulsion Market by Type (Pure Acrylic Emulsion, Polymer & Co-polymer Acrylic Emulsion), Application (Paints & Coatings, Adhesives & Sealants, Construction Additives, Paper Coating), and Region - Global Forecast to 2028
Acrylic Emulsions Market
The global acrylic emulsion market is valued at USD 11.5 billion in 2023 and is projected to reach USD 16.6 billion by 2028, growing at 7.6% cagr from 2023 to 2028. Acrylic emulsion serves as a foundational building block extensively utilized in diverse sectors, including paints, coatings, adhesives, textiles, and construction. This adaptable substance embodies a range of characteristics such as adhesion, durability, and flexibility, crucial for crafting high-caliber products that excel in meeting stringent performance standards while adhering to environmentally conscious principles.
Attractive Opportunities in the Acrylic Emulsion Market
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Acrylic Emulsion Market Dynamics
Driver:Growing automotive industry in Asia Pacific
The thriving automotive industry in the Asia Pacific region is a significant driving force behind the growth of the acrylic emulsion market. With countries like China, India, Japan, and South Korea emerging as key players in automotive manufacturing, the demand for high-quality coatings and finishes has surged. Acrylic emulsions play a pivotal role in this scenario, as they offer exceptional properties such as durability, gloss retention, and weather resistance that are crucial for automotive coatings. As consumers in the region seek vehicles with superior aesthetics and longevity, manufacturers rely on acrylic emulsions to provide the desired finish and protection.
Furthermore, the shift towards eco-friendly practices in the automotive sector aligns perfectly with the characteristics of acrylic emulsions. These water-based formulations have lower levels of volatile organic compounds (VOCs) compared to solvent-based alternatives, thus contributing to better air quality and reduced environmental impact. As environmental regulations tighten and consumer preferences for sustainable products grow, the use of acrylic emulsions becomes more appealing for automotive manufacturers aiming to meet these requirements.
In essence, the rapid expansion of the Asia Pacific automotive industry creates a robust demand for top-quality coatings that enhance both the visual appeal and durability of vehicles.
Restraint: Substiution of acrylic emulsions by polyurethane dispersion especially in coating application
The substitution of acrylic emulsions by polyurethane dispersions, particularly in coating applications, presents a notable restraint to the growth of the acrylic emulsion market. Polyurethane dispersions offer specific performance advantages such as enhanced durability, chemical resistance, and superior adhesion, making them an attractive alternative in certain scenarios. As industries seek advanced solutions that meet evolving demands, the appeal of polyurethane dispersions can impact the market share of acrylic emulsions, particularly in segments where specialized properties are prioritized.
Opportunity: Emerging trend towards water-based emulsion
The escalating demand for water-based acrylic emulsions in emerging markets presents a significant growth opportunity for the acrylic emulsion market. As economies in these regions undergo rapid development, there is an increasing emphasis on sustainable and environmentally-friendly solutions. Water-based acrylic emulsions, with their low VOC content and alignment with stringent regulations, perfectly cater to this demand. The trend towards urbanization, coupled with a rising middle class, propels sectors like construction, automotive, and consumer goods - all of which can benefit from the advantages offered by water-based acrylic emulsions.
Challenge: Fluctuations in raw material cost
Raw material costs are a pivotal concern within the acrylic emulsion market due to their inherent volatility. The market dynamics governing the pricing of key components used in acrylic emulsion formulation are subject to intricate influences, including global supply chain disruptions, geopolitical shifts, and fluctuating demand-supply equilibrium. These variables can engender substantial variability in the cost structure of raw materials, exerting a direct impact on the production expenditure incurred in the synthesis of acrylic emulsions.
Acrylic Emulsion Market Ecosystem
Source: Secondary Research, Interviews with Experts, and MarketsandMarkets Analysis
Polymer & co-polymer type was the largest segment for acrylic emulsion market in 2022, in terms of value.
The acrylic emulsion market is characterized by two distinct categories: polymer acrylic emulsions and co-polymer acrylic emulsions. Polymer acrylic emulsions are derived from individual acrylic monomers, resulting in coatings and products with specific performance attributes tailored to particular needs. Conversely, co-polymer acrylic emulsions are synthesized by combining various monomers, allowing for the customization of properties to suit a wide range of applications. This segmentation offers an expansive spectrum of choices, empowering industries like paints, coatings, adhesives, and textiles to select emulsions that precisely align with their unique requirements.
"Adhesives & sealants application was the second largest application for acrylic emulsion market in 2022, in terms of value."
The adhesives and sealants market is a pivotal sector spanning diverse industries. Adhesives create strong material bonds, while sealants provide leakage protection. This market thrives in construction, automotive, packaging, and manufacturing. Acrylic emulsions play a strategic role here. Known for robust adhesion, they create secure bonds and act as sealant foundations, offering flexibility and resilience. Amid the pursuit of sustainable bonding solutions, demand for acrylic emulsion-based adhesives and sealants is surging, intertwining their growth with the adhesives and sealants market's expansion.
"Asia Pacific was the fastest growing market for acrylic emulsion in 2022, in terms of value."
Asia Pacific was the fastest growing market for global acrylic emulsion market, in terms of value, in 2022. China is the largest market in Asia Pacific. It is projected to witness the highest growth during the forecast period considering of high usage of acrylic emulsion in the region for various application.
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Acrylic Emulsions Market Players
The key players in this market BASF SE (Germany), Dow Inc. (US), Arkema S.A. (France), Synthomer PLC (UK), Celanese Corporation (US), Avery Dennison (US), Covestro AG (Germany), DIC Group (Japan), Henkel (Germany), H.B. Fuller (US), Mallard Creek Polymers (US) Nippon Shokubai Co., Ltd. (Japan) and The Lubrizol Corporation (US).Continuous developments in the market—including new partnership, mergers & acquisitions, agreements, and expansions—are expected to help the market grow. Leading manufacturers of acrylic emulsion have opted for investment & expansion to sustain their market position.
Acrylic Emulsions Market Report Scope
|
Report Metric |
Details |
|
Market Size Value in 2023 |
USD 11.5 billion |
|
Revenue Forecast in 2028 |
USD 16.6 billion |
|
CAGR |
7.6% |
|
Years considered for the study |
2019-2028 |
|
Base Year |
2022 |
|
Forecast period |
2023–2028 |
|
Units considered |
Volume (Kiloton); Value (USD Billion) |
|
Segments |
Type, Application, and Region |
|
Regions |
Asia Pacific, North America, Europe, Middle East & Africa, and South America |
|
Companies |
BASF SE (Germany), Dow Inc. (US), Arkema S.A. (France), Synthomer PLC (UK), Celanese Corporation (US), Avery Dennison (US), Covestro AG (Germany), DIC Group (Japan), Henkel (Germany), H.B. Fuller (US), Mallard Creek Polymers (US) Nippon Shokubai Co., Ltd. (Japan) and The Lubrizol Corporation (US) |
This report categorizes the global acrylic emulsion market based on type, application, and region.
Based on type, the acrylic emulsion market has been segmented as follows:
- Polymer & co-polymer
- Pure Acrylic
Based on application, the acrylic emulsion market has been segmented as follows:
- Paints & coatings
- Adhesives & sealants
- Construction additives
- Paper coating
- Others
Based on region, the acrylic emulsion market has been segmented as follows:
- Asia Pacific
- Europe
- North America
- Middle East & Africa
- South America
Recent Developments
- In March 2023, BASF SE has started construction a new production complex at its Verbund site in Zhanjiang, China, that includes plants for glacial acrylic acid (GAA), butyl acrylate (BA) and 2-ethylhexyl acrylate (2-EHA).
- In february 2023, Celanese Corporation has announced the completion of an ultra-low capital project. This move supports significant growth in the acetyl chain’s downstream vinyl portfolio.
- In August 2022, Arkema S.A. introduced new acrylic polyol emulsion for industrial paints. It offers significantly lower VOC capabilities and performs well in 2K or 1K stoving systems.
- In August 2021 , Arkema S.A. acquired Ashland’s Performance Adhesives business, a first-class leader in high performance adhesives for industrial applications in the United States with a unique and innovative product portfolio. This move is perfectly aligned with the Group’s ambition to become a pure Specialty Materials player by 2024.
- In April 2021, Synthomer PLC has launched the Asia Innovation Center at Johar Bahru. This facility is fully operational and started to provide leadership in research and development for both Performance Elastomers and Functional Solutions business units which cover a wide range of industries including healthcare and protection, foam, carpet, paper, automotive, coating, construction, adhesive and textile
Frequently Asked Questions (FAQ):
What is the expected growth rate of the acrylic emulsion market?
The forecast period for the acrylic emulsion market in this study is 2023-2028. The acrylic emulsion market is expected to grow at a CAGR of 7.6%in terms of value, during the forecast period.
Who are the major key players in the acrylic emulsion market?
BASF SE (Germany), Dow Inc. (US), Arkema S.A. (France), Synthomer PLC (UK), Celanese Corporation (US), Avery Dennison (US), Covestro AG (Germany), DIC Group (Japan), Henkel (Germany), H.B. Fuller (US), Mallard Creek Polymers (US) Nippon Shokubai Co., Ltd. (Japan) and The Lubrizol Corporation (US) are the leading manufacturers of acrylic emulsion.
What are some of the strategies adopted by the top market players to penetrate emerging regions?
The major players in the market use expansion, acquisitions, and partnership, as important growth tactics.
What are the drivers and opportunities for the acrylic emulsion market?
Growing automotive industry in Asia Pacific is driving the market during the forecast period. Emerging trend towards water-based acrylic emulsion acts as an opportunity during the forecast period.
Which are the key technology trends prevailing in the acrylic emulsion market?
The key technologies prevailing in the acrylic emulsion market include nano-technology integration, and additive incorporation. .
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The study involved four major activities in estimating the market size of the acrylic emulsion market. Exhaustive secondary research was done to collect information on the market, the peer market, and the parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter, the market breakdown and data triangulation procedures were used to estimate the market size of the segments and subsegments.
Secondary Research
In the secondary research process, various secondary sources have been referred to for identifying and collecting information for this study. These secondary sources include annual reports, press releases, investor presentations of companies, white papers, certified publications, trade directories, certified publications, articles from recognized authors, gold standard and silver standard websites, and databases.
Secondary research has been used to obtain key information about the value chain of the industry, monetary chain of the market, the total pool of key players, market classification and segmentation according to industry trends to the bottom-most level, and regional markets. It was also used to obtain information about the key developments from a market-oriented perspective.
Primary Research
The acrylic emulsion market comprises several stakeholders in the value chain, which include raw material suppliers, manufacturers, and end users. Various primary sources from the supply and demand sides of the acrylic emulsion market have been interviewed to obtain qualitative and quantitative information. The primary interviewees from the demand side include key opinion leaders in end-use sectors. The primary sources from the supply side include manufacturers, associations, and institutions involved in the acrylic emulsion industry.
Primary interviews were conducted to gather insights such as market statistics, data of revenue collected from the products and services, market breakdowns, market size estimations, market forecasting, and data triangulation. Primary research also helped in understanding the various trends related to technology, raw material, application type, end-use industries, and region. Stakeholders from the demand side, such as CIOs, CTOs, and CSOs were interviewed to understand the buyer’s perspective on the suppliers, products, component providers, and their current usage of acrylic emulsion and outlook of their business which will affect the overall market.
The breakdown of profiles of the primary interviewees is illustrated in the figure below:
Note: Tier 1, Tier 2, and Tier 3 companies are classified based on their market revenue in 2022 available in the public domain, product portfolios, and geographical presence.
Other designations include consultants and sales, marketing, and procurement managers.
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|
Company Name |
Designation |
|
Dow Inc. |
Individual Industry Expert |
|
BASF SE |
Sales Manager |
|
H.B.Fuller |
Director |
|
Henkel |
Marketing Manager |
|
Mallard Creek Polymers |
R&D Manager |
|
|
|
Market Size Estimation
The top-down and bottom-up approaches have been used to estimate and validate the size of the acrylic emulsion market.
- The key players in the industry have been identified through extensive secondary research.
- The supply chain of the industry has been determined through primary and secondary research.
- All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.
- All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to obtain the final quantitative and qualitative data.
- The research includes the study of reports, reviews, and newsletters of the key market players, along with extensive interviews for opinions with leaders such as directors and marketing executives.
Acrylic Emulsion Market: Bottum-Up Approach
Note: All the shares are based on the global market size.
Source: Secondary Research, Interviews with Experts, and MarketsandMarkets Analysis
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Acrylic Emulsion Market: Top-Down Approach
Data Triangulation
After arriving at the total market size from the estimation process explained above, the overall market has been split into several segments and sub-segments. To complete the overall market engineering process and arrive at the exact statistics for all the segments and sub-segments, the data triangulation and market breakdown procedures have been employed, wherever applicable. The data has been triangulated by studying various factors and trends from both the demand and supply sides. Along with this, the market size has been validated by using both the top-down and bottom-up approaches and primary interviews. Hence, for every data segment, there have been three sources—top-down approach, bottom-up approach, and expert interviews. The data was assumed correct when the values arrived from the three sources matched.
Market Definition
Acrylic emulsion refers to a versatile and water-based formulation composed of acrylic polymers suspended within a stable liquid mixture. This emulsion serves as a fundamental raw material extensively utilized across industries such as paints, coatings, adhesives, textiles, and construction. Acrylic emulsions offer a range of properties including adhesion, durability, and flexibility, making them essential for creating high-quality products that fulfill both performance requirements and environmental considerations.
Key Stakeholders
- Senior Management
- End User
- Finance/Procurement Department
- R&D Department
Report Objectives
- To define, describe, and forecast the size of the acrylic emulsion market, in terms of value and volume.
- To provide detailed information regarding the major factors (drivers, opportunities, restraints, and challenges) influencing the growth of the market
- To estimate and forecast the market size based on type, application, and region.
- To forecast the size of the market with respect to major regions, namely, Europe, North America, Asia Pacific, Middle East & Africa, and South America, along with their key countries
- To strategically analyze micromarkets1 with respect to individual growth trends, prospects, and their contribution to the overall market
- To analyze opportunities in the market for stakeholders and provide a competitive landscape of market leaders.
- To track and analyze recent developments such as expansions, new product launches, partnerships & agreements, and acquisitions in the market.
- To strategically profile key market players and comprehensively analyze their core competencies.
Available Customizations
Along with the given market data, MarketsandMarkets offers customizations according to the company’s specific needs. The following customization options are available for the report:
Regional Analysis
- Further breakdown of a region with respect to a particular country or additional application
Company Information
- Detailed analysis and profiles of additional market players
Growth opportunities and latent adjacency in Acrylic Emulsion Market