Acrylic Resin Market
Global Acrylic Resin Market: Segmentation
The global acrylic resin market can be segmented on the basis of its raw materials, property of solvency, application, and the regions. The market for acrylic resin is segmented by raw material of products as methacrylates, acrylates, hybrids, and others. On the basis of the type of solvency, the acrylic resin market is divided into solvent-borne, waterborne and solids. Application-based segmentation of acrylic resin market can be seen through its utilization in paints and coatings, industrial and commercial, construction, paper and paperboard, plastics, textile and fibers and adhesives. The acrylic resins market is diversified into regions such as Asia-Pacific, Europe, North America, Latin America, and the Middle East and Africa.
Global Acrylic Resin Market: Growth Factors
There has been a significant growth in the acrylic resins market in the past few years and this growth is expected to persist in the coming years. A major portion of this growth is from the developing countries. The development in the acrylic resin market can be contributed to the growth in the automobile industry, construction industry, increased consumption in the commercial segments and paints and coating industry. Also, macroeconomic factors such as VOC regulations in Western countries, shift from solvent-borne to waterborne, industrial development in the developing countries, will direct the growth in certain markets. The challenges faced by the market participants are mainly in the form of volatile raw material prices and growing environmental concerns degradability of plastics.
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