Solid Acrylic Resins Market: Introduction
Transparency Market Research delivers key insights on the global solid acrylic resins market. In terms of revenue, the global solid acrylic resins market is estimated to expand at a CAGR of 7.3% during the forecast period, owing to numerous factors, regarding which TMR offers thorough insights and forecast in its report on the global solid acrylic resins market.
The global solid acrylic resins market is broadly affected by several factors including usage of solid acrylic resins in the paints coatings industry. Rise in demand for paints and coatings, inks, and varnishes in construction infrastructure and automobile industries is propelling the global solid acrylic resins market.
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Solid Acrylic Resins Market: Dynamics
Rise in demand for paints and coatings made from solid acrylic resins is expected to the drive the solid acrylic resins market in the near future. Residential and commercial construction is the major contributor to the market size of acrylic resin-based systems. Residential construction has been increasing significantly since the past few years, owing to the rise in disposable income of consumers, changing lifestyle, growth in demand for single-family homes, and ease of financing.
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Exterior coatings are generally used to prevent the corrosion of materials. Exterior coatings made from acrylic resins have good color and gloss retention property. They are durable and carry good adhesion to substrate.
Industrial coatings protect materials or products from corrosion and decay, and provide colorful and beautiful appearance to the coated surface, substrate, or product. Industrial coatings made from acrylic resins dry quickly and carry high gloss capability.
Increase in population and rapid urbanization in Asia Pacific; and need for improved infrastructure and residential spaces are anticipated to play a crucial role in the expansion of the solid acrylic resins market.
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Solid Acrylic Resins Market: Prominent Regions
Based on region, the global solid acrylic resins market can be segmented into North America, Asia Pacific, Europe, Latin America, and Middle East Africa. Asia Pacific dominated the global solid acrylic resins market in 2020. The region is expected to maintain its dominance during the forecast period. The dominance of Asia Pacific can be ascribed to increase in infrastructure and construction activities, including China and India, in the region.
The solid acrylic resins market in Middle East Africa is anticipated to expand at a significant pace during the forecast period. Larger size of end-use industries in Latin America and Europe is expected to augment the solid acrylic resins market in these regions during the forecast period. The rise in demand for solid acrylic resins in various applications is also likely to boost the solid acrylic resins market in these regions over the next few years.
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Solid Acrylic Resins Market: Key Players
The global solid acrylic resins market is fragmented with the presence of large number of players. Key players operating in the global solid acrylic resins market are DSM, Sun Polymers, Inc., Eternal Materials Co., Ltd., SEIKO PMC CORPORATION, BASF SE, Allnex, Suzhou Direction Chemical Co.,Ltd, AEKYUNG CHEMICAL Co., Ltd, Chevell Performance Material Group, Anhui Elite Industrial Co., Ltd., and Formula Chemicals Inc.
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