PUBLISHER: Fairfield Market Research | PRODUCT CODE: 1379308
PUBLISHER: Fairfield Market Research | PRODUCT CODE: 1379308
The global waterborne acrylic resin market exhibited a valuation of $6.09 billion in 2024 and is projected to witness substantial growth, reaching an estimated size of $9.39 billion by 2031, with a CAGR of 6.38%, according to a comprehensive industry report by Fairfield Market Research.
Waterborne acrylic resin, an environmentally friendly compound, finds widespread applications in various industries, including paints, industrial coatings, ships, bridges, and locomotives. It is known for its thermosetting properties, with thermal attributes such as flame retardancy and thermal-oxidative stability, making it highly versatile and suitable for a range of practical applications.
Expanding Paints and Coatings Industry: The waterborne acrylic resin market is strongly driven by the growing paints and coatings industry. These resins serve as essential binders in water-based paints and coatings, offering excellent adhesion, durability, and resistance to weathering. This makes them ideal for architectural coatings, industrial coatings, wood coatings, and automotive coatings.
Environmental Sustainability: The industry's increasing focus on environmental sustainability, coupled with the demand for high-performance coatings, contributes to the rising need for waterborne acrylic resins. These resins are recognized for their lower Volatile Organic Compound (VOC) content and reduced environmental impact.
Construction Industry Growth: The construction industry plays a pivotal role in the market's high usage of waterborne acrylic resins. These resins meet the sustainability and performance requirements of the construction sector, offering advantages such as durability, UV resistance, and reduced environmental impact.
The construction industry accounts for significant consumption of waterborne acrylic resins due to several factors:
Sustainability and Green Practices: The construction sector places a growing emphasis on sustainability and green building practices. Waterborne resins align with these goals as they contain fewer VOCs and have a lower environmental impact. This aligns with the demand for eco-friendly construction products.
Long-Lasting Performance: Waterborne acrylic resins provide long-lasting and protective coatings in building applications. They are used in architectural coatings for walls, floors, and roofs, offering resistance to weathering, UV radiation, and chemicals, contributing to the quality and longevity of construction projects.
Versatile Application: These resins can be applied using various methods, providing flexibility in application techniques. They can be customized to meet specific performance requirements, making them suitable for a wide range of construction applications.
The adoption of waterborne resins faces challenges due to the higher manufacturing costs associated with these resins compared to their solvent-based counterparts. Specialized equipment and additional steps in the production and formulation processes contribute to increased manufacturing expenses. Raw materials used can also be expensive, impacting cost competitiveness.
India: India represents a high consumption market for waterborne acrylic resins, driven by increasing construction and renovation activities, as well as stringent environmental regulations. The country holds a significant share of the Asia Pacific market and offers promising prospects in various industries.
China: China is expected to dominate both the East Asia and global markets for waterborne acrylic resins. Advancements in adhesives, sealants, and infrastructure development create favorable conditions for resin manufacturers.
Key market players are focused on enhancing product quality and versatility to meet evolving industry needs. They also offer competitive pricing. Leading manufacturers profiled in the report include Dow Inc., Arkema SA, Allnex GmbH, Sherwin-Williams, Covestro AG, Lubrizol Corporation, DIC Corporation, Kansai Paint Co., Ltd., Sika AG, BASF SE, and others.
The waterborne acrylic resin market is segmented by application (architectural coatings, industrial coatings, furniture, automotive coatings, textile coatings, wood coatings, packaging coatings, paper coatings), end-use industry (building and construction, automotive, furniture, packaging, paints and coatings, textiles, adhesives and sealants, and others), and region (North America, Latin America, Europe, South Asia Pacific, East Asia, and Middle East and Africa).