Acrylic Resins Market Industry Insights and Market Drivers 2032

According to Fortune Business Insights, The global acrylic resins market was valued at USD 22.36 billion in 2023 and is expected to expand from USD 23.46 billion in 2024 to USD 33.84 billion by 2032, registering a CAGR of 4.8% during the forecast period. In 2023, Asia Pacific led the market, accounting for 44.81% of the global share. Meanwhile, the U.S. market is anticipated to witness substantial growth, projected to reach USD 5.54 billion by 2032, fueled by robust demand in the paints and coatings industry and ongoing infrastructure development projects.

The global Acrylic Resins Market is witnessing significant growth due to its wide applications in paints & coatings, adhesives, construction, automotive, and packaging industries. Acrylic resins, known for their durability, transparency, weather resistance, and excellent adhesion, are increasingly being adopted in industrial and consumer applications. Rising demand for sustainable and high-performance materials is expected to drive market expansion during the forecast period.

Market Size & Forecast

• In 2023, the market was valued at USD 22.36 billion.

• It is projected to grow to around USD 23.46 billion in 2024.

• By 2032, the market is forecast to reach USD 33.84 billion, at a CAGR of ~4.8% between 2024 and 2032.

This reflects robust but not explosive growth, suggesting stable demand across industries with certain drivers pushing upward.

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LIST OF KEY COMPANIES PROFILED

• Dow (US)

• BASF SE (Germany)

• Arkema S.A. (France)

• Mitsubishi Chemical Holdings (Japan)

• Nippon Shokubai (Japan)

• DSM (Netherlands)

• Mitsui Chemicals (Japan)

• DIC Corporation (Japan) 

• Sumitomo (Japan)

Market Growth Drivers

• Booming Construction and Infrastructure Sector: Acrylic resins are widely used in architectural coatings, sealants, and adhesives, supporting urbanization and infrastructure development.

• Automotive Industry Growth: Increasing vehicle production and the rising need for high-performance coatings are fueling demand.

• Sustainability Focus: Shift towards eco-friendly, water-based, and bio-based acrylic resins is creating new opportunities.

• Packaging Industry Expansion: Strong demand for lightweight, durable, and flexible packaging materials is boosting market growth.

Key Market Trends

1. Shift to Waterborne Acrylic Resins – Growing environmental regulations are driving the adoption of low-VOC and sustainable resins.

2. Increased R&D Investments – Manufacturers are focusing on innovative formulations to enhance UV resistance, adhesion, and durability.

3. Rising Popularity in 3D Printing and Electronics – Acrylic resins are finding emerging applications in advanced manufacturing.

Market Segmentation

By Type

• Thermoplastic Acrylic Resins

• Thermosetting Acrylic Resins

By Application

• Paints & Coatings (largest segment)

• Adhesives & Sealants

• Packaging Materials

• Automotive Parts & Components

• Construction Materials

• Others

Regional Insights & Dominance

• Asia Pacific is the dominant region, accounting for ~44.81% of the global market share in 2023.

• The region’s dominance stems from rapid infrastructure growth, urbanisation, rising automotive production, and strong demand in paints & coatings, especially in China, India, and Southeast Asia.

• United States is expected to see significant growth, with market size projected to reach USD 5.54 billion by 2032, powered by demand for high-durability coatings and infrastructural development.

Other regions—Europe, Middle East & Africa, and Latin America—also present opportunities, primarily in applications like adhesives & sealants, specialty coatings, and innovations in resin chemistry.

Competitive Landscape

The market is moderately fragmented, with global and regional players focusing on product innovation and strategic partnerships. Major companies are investing in sustainable resin production to meet evolving environmental regulations. Mergers, acquisitions, and collaborations are common strategies to expand global reach.

The Acrylic Resins Market is projected to grow steadily through 2032, supported by increasing demand for high-performance, durable, and eco-friendly materials. With strong adoption in paints & coatings, automotive, construction, and packaging, the industry is set to witness robust expansion globally.

Information Source: https://www.fortunebusinessinsights.com/acrylic-resins-market-105159

KEY INDUSTRY DEVELOPMENTS

• March 2024 – DIC Corporation's subsidiary, IDEAL CHEMI PLAST PRIVATE LTD., opened a new production facility for coating resins in Maharashtra's Supa Japanese Industrial Zone. The facility tripled the production capacity of IDEAL CHEMI PLAST, positioning it to expand its business in India, South Asia, and the Middle East.

• March 2021 – BASF doubled its capacity for acrylic dispersions at its new production line in Pasir Gudang, Malaysia. The line features condensate stripping recovery technology that reduces freshwater consumption and wastewater generation, contributing to the company's environmental commitment.