Acrylic Resin Market Size, Share, Growth Analysis, By Chemistry, By Solvency, By Application, By End-user, By Region - Industry Forecast 2024-2031

Global Acrylic Resin Market size was valued at USD 20.6 billion in 2022 and is poised to grow from USD 21.77 billion in 2023 to USD 32.66 billion by 2031, at a CAGR of 5.2% during the forecast period (2024-2031).

The global acrylic resins market is poised for robust growth, fueled by their versatile applications across industries such as building and construction, automotive, paints and coatings, and electronics. Rapid urbanization and large-scale city projects in emerging economies like China, India, and Japan are boosting demand for acrylic resins, especially as high-adhesion binders in paints and coatings. However, challenges such as environmental concerns over volatile organic compounds (VOCs) and health risks associated with solvent-based resins, including respiratory irritation, may impede market expansion. To address these issues, the shift toward bio-based resin systems is gaining traction, aligning with the rising focus on green and sustainable solutions, creating opportunities for eco-friendly innovations in paints and coatings production

Top-down and bottom-up approaches were used to estimate and validate the size of the Global Acrylic Resin market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were 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 get the final quantitative and qualitative data.

Global Acrylic Resin Market Segmental Analysis

Global Acrylic Resin Market is segmented by Chemistry, by Solvency, by Application, by End Use and by Region. Based on Chemistry, the market is segmented into Acrylates, Methacrylates, Hybrid. Based on Solvency, the market is segmented into Water based, Solvent based, Others. Based on application, the market is segmented into Paints & Coatings, Adhesives & Sealants, DIY coatings, Elastomers, Others. Based on End Use, the market is segmented into Building & Construction, Industrial, Paper & paperboard, Consumer goods, Electrical & electronics, Packaging, Others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & and Africa.

Drivers of the Global Acrylic Resin Market

Growing demand for paints and coatings in various industries, including automotive, construction, and consumer goods along with Increasing emphasis on sustainable and eco-friendly resin solutions are driving the demand. Rising construction and infrastructure development activities worldwide and advantages of acrylic resins such as high durability, chemical resistance, and temperature resistance are bringing lucrative growth opportunities for players in the market. Technological advancements leading to improved performance and application versatility of acrylic resins will open new revenue generating opportunities in the market.

Restraints in the Global Acrylic Resin Market

A significant restraint for the global acrylic resin market is the adverse environmental and health effects associated with solvent-based acrylic resins, which emit volatile organic compounds (VOCs). Stringent regulations worldwide aimed at curbing VOC emissions have added compliance burdens and limited the adoption of these resins. Additionally, the market faces challenges from fluctuating raw material prices, particularly for key feedstocks such as propylene and ethylene, which impact production costs and profitability. The availability of alternative resin systems, including water-based and bio-based options, further intensifies competition. Moreover, the growing adoption of advanced coating technologies provides end-users with a wider range of choices, thereby constraining the growth potential of traditional acrylic resin applications.

Market Trends of the Global Acrylic Resin Market

A prominent trend in the global acrylic resin market is the increasing demand for sustainable and eco-friendly solutions. Growing environmental awareness and stringent regulations are driving the shift toward acrylic resins with reduced volatile organic compound (VOC) content and those derived from renewable sources. Manufacturers are actively developing bio-based acrylic resins that match the performance of traditional resins while minimizing environmental impact. Additionally, water-based acrylic resins are gaining traction due to their lower VOC emissions, faster drying times, easier application, and enhanced safety for workers. This shift underscores the industry's focus on balancing performance with sustainability, aligning with the global push for greener materials and processes.