Report ID: SQMIG15A2350
Report ID:
SQMIG15A2350 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|
Tables:
92 |
Figures:
76
Acrylic Resin Market size was valued at USD 19.67 billion in 2021 and is poised to grow from USD 21.77 billion in 2023 to USD 31.04 billion by 2030, at a CAGR of 5.2% during the forecast period (2023-2030).
The acrylic resins market is expected to witness significant growth due to their expanding applications in various industries such as building and construction, automotive, paints and coatings, and electronics.
The rise in new city projects in emerging economies like China, India, and Japan, driven by rapid urbanization and population growth, is expected to drive the demand for acrylic resins. Their high adhesion properties make them ideal binders for paints and coatings. However, the market growth may be hindered by the adverse effects of solvent-based acrylic resins and the strict environmental regulations related to volatile organic contents (VOCs).
These resins can cause health issues such as headaches, dizziness, and respiratory irritation. To overcome these challenges, the development of bio-based resin systems is gaining importance to ensure sustainability and reduce environmental impact.
The focus on green and bio-based paints and coatings presents new market opportunities and promotes a sustainable approach throughout the entire lifecycle of coatings, from raw materials to manufacturing and formulation.
US Acrylic Resin Market is poised to grow at a sustainable CAGR for the next forecast year.
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Report ID: SQMIG15A2350