Thermosetting Acrylic Resin Market was valued at USD 2.5 Billion in 2022 and is projected to reach USD 3.9 Billion by 2030, growing at a CAGR of 6.0% from 2024 to 2030.
The global thermosetting acrylic resin market is experiencing significant growth, driven by its expanding application across various industries. Thermosetting acrylic resins are widely recognized for their high durability, excellent weather resistance, and versatility, making them a popular choice in several sectors, including paints and coatings, construction, plastics, adhesives, textiles, and paper & paperboard. The market is forecasted to continue evolving as technological advancements in resin formulations and increased demand for environmentally friendly products play a central role in shaping future trends.
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Paints & Coatings: Thermosetting acrylic resins are extensively used in the paints and coatings industry, where their superior properties like high gloss retention, UV resistance, and chemical durability are highly valued. These resins form a tough, durable layer upon curing, making them ideal for both automotive and industrial coatings. Furthermore, the increasing demand for eco-friendly coatings, driven by stringent environmental regulations, is pushing the growth of thermosetting acrylic resins in this segment. Innovations such as waterborne coatings and low-VOC (volatile organic compound) formulations are further bolstering the adoption of these resins in the paints and coatings market.
In addition to their application in automotive and industrial sectors, thermosetting acrylic resins are also gaining popularity in decorative coatings for residential and commercial buildings. These resins offer excellent adhesion and resistance to weathering, making them suitable for both interior and exterior applications. Their application in coatings for appliances and furniture also sees considerable growth as consumer preference shifts towards long-lasting, high-quality finishes. The evolving demand for aesthetic finishes that do not compromise on durability is expected to maintain the upward trend of thermosetting acrylic resins in the coatings sector.
Paper & Paperboard: The paper and paperboard industry is another key application area for thermosetting acrylic resins. These resins are used primarily as binders and coatings to enhance the surface properties of paper products. When applied as a coating, thermosetting acrylic resins impart water resistance, improved printability, and a glossy finish, making them a popular choice for high-quality packaging materials, labels, and printing papers. The rising demand for sustainable and high-performance packaging solutions is contributing to the increasing use of acrylic resins in this sector.
Furthermore, thermosetting acrylic resins are used in the production of specialty papers, where they help improve the durability and texture of the product. Their application in coated paperboard, which is used in the packaging of food and consumer goods, has witnessed an uptick due to the growing demand for lightweight yet sturdy packaging materials. As the industry moves towards more sustainable production practices, the development of bio-based acrylic resins is expected to further influence the growth of thermosetting acrylic resins in the paper and paperboard market.
Plastics: The plastics industry is another significant consumer of thermosetting acrylic resins, as these resins offer excellent thermal stability, chemical resistance, and mechanical properties. They are used in the production of composite materials, automotive parts, electrical enclosures, and other high-performance plastic applications. The versatility of thermosetting acrylic resins, in terms of both processing and performance, makes them ideal for use in various plastic molding and extrusion processes.
The growing demand for lightweight, durable, and energy-efficient plastic products is likely to fuel the adoption of thermosetting acrylic resins in this sector. Their ability to maintain structural integrity under extreme conditions, such as high heat or exposure to chemicals, is particularly attractive in the automotive and electronics industries. As the demand for advanced plastic materials with enhanced properties increases, thermosetting acrylic resins are expected to play a key role in the development of innovative plastic products.
Adhesives: In the adhesives sector, thermosetting acrylic resins are widely used to formulate high-performance adhesives that offer strong bonding, resistance to environmental stress, and durability. These resins are commonly used in applications such as automotive assembly, construction, electronics, and packaging, where high adhesion strength and resistance to moisture, heat, and chemicals are critical. Thermosetting acrylic adhesives provide excellent long-term stability, making them a preferred choice for demanding bonding applications.
As the demand for strong, durable, and efficient adhesives continues to grow, particularly in the automotive and construction industries, the thermosetting acrylic resin market in adhesives is expected to see steady growth. The development of adhesive systems that can be applied in extreme conditions, such as high-temperature environments or underwater applications, is also likely to drive the adoption of thermosetting acrylic resins in this segment. Furthermore, the rise in demand for environmentally friendly adhesives with low VOC content is expected to boost the use of thermosetting acrylic resins in the adhesive market.
Construction: The construction industry has become one of the major application areas for thermosetting acrylic resins. These resins are utilized in the production of construction materials such as sealants, flooring systems, and concrete coatings. The high durability, weather resistance, and ease of application of thermosetting acrylic resins make them an ideal choice for construction applications that require long-lasting, low-maintenance solutions. The growing demand for sustainable construction materials and the increasing focus on energy-efficient buildings are driving the use of acrylic resins in the sector.
In addition to their use in coatings and sealants, thermosetting acrylic resins are also used in the production of composite materials for the construction industry. These composites offer improved mechanical properties, such as high tensile strength and impact resistance, making them suitable for use in structural components, cladding, and panels. With the continuous push towards sustainable building practices, thermosetting acrylic resins are expected to see increasing demand in construction applications that emphasize eco-friendly and durable materials.
Textiles & Fibers: The textiles and fibers industry is another important application sector for thermosetting acrylic resins. These resins are used to improve the performance and durability of fabrics by providing water repellency, flame resistance, and enhanced strength. Thermosetting acrylic resins are used in both synthetic and natural fibers to produce high-performance textiles for various applications, including apparel, home furnishings, and industrial textiles. Their ability to provide long-lasting protection and performance makes them a valuable component in the textiles industry.
The growing demand for technical textiles, particularly in sectors such as automotive, construction, and healthcare, is expected to drive the demand for thermosetting acrylic resins in the textiles market. Additionally, the trend towards sustainable fashion and eco-friendly materials is pushing for the development of bio-based acrylic resins that can meet environmental standards while maintaining the desired performance characteristics. As these trends continue to evolve, thermosetting acrylic resins will play an increasingly important role in shaping the future of the textiles and fibers industry.
Key Trends: One of the key trends in the thermosetting acrylic resin market is the growing emphasis on sustainability. Manufacturers are focusing on the development of bio-based resins and low-VOC formulations to meet increasing environmental regulations. Additionally, the rising demand for advanced coatings, adhesives, and composites that offer improved performance, durability, and energy efficiency is expected to drive innovation in the market. The trend towards lightweight, durable, and multifunctional materials is also a key driver for the thermosetting acrylic resin market, especially in automotive and construction applications.
Opportunities in the Market: The increasing demand for thermosetting acrylic resins in high-performance applications, such as automotive, construction, and electronics, presents significant growth opportunities for market players. The development of low-emission, eco-friendly products is likely to open up new markets, particularly in regions with stringent environmental regulations. Furthermore, as end-use industries increasingly prioritize sustainability and energy efficiency, there is ample opportunity for companies to innovate and capture a larger market share by developing new resin formulations that meet these demands.
Frequently Asked Questions:
1. What are thermosetting acrylic resins?
Thermosetting acrylic resins are a type of polymer that cures or hardens when exposed to heat or chemicals. They are used in a variety of applications due to their durability, weather resistance, and versatility.
2. What industries use thermosetting acrylic resins?
Thermosetting acrylic resins are used in industries like paints and coatings, paper and paperboard, plastics, adhesives, construction, and textiles, among others.
3. What are the benefits of using thermosetting acrylic resins in coatings?
Thermosetting acrylic resins offer excellent gloss retention, UV resistance, chemical durability, and weather resistance, making them ideal for use in coatings.
4. Are thermosetting acrylic resins eco-friendly?
Yes, there is a growing trend toward the development of bio-based, low-VOC thermosetting acrylic resins, which are more environmentally friendly compared to traditional formulations.
5. What applications use thermosetting acrylic resins in the construction industry?
Thermosetting acrylic resins are used in sealants, flooring systems, concrete coatings, and composite materials for structural components in the construction industry.
6. How are thermosetting acrylic resins used in the paper industry?
Thermosetting acrylic resins are used in the paper industry for coatings and as binders to enhance surface properties like printability and water resistance.
7. What role do thermosetting acrylic resins play in adhesives?
Thermosetting acrylic resins are used to formulate high-performance adhesives that offer strong bonding, chemical resistance, and long-lasting durability.
8. What are the advantages of using thermosetting acrylic resins in textiles?
Thermosetting acrylic resins provide water repellency, flame resistance, and enhanced durability to fabrics, making them ideal for technical textiles and industrial applications.
9. What is driving the growth of the thermosetting acrylic resin market?
The growth of the thermosetting acrylic resin market is driven by increasing demand for high-performance materials in industries like automotive, construction, and electronics, along with sustainability trends.
10. How do thermosetting acrylic resins benefit the plastics industry?
In the plastics industry, thermosetting acrylic resins enhance the mechanical properties, thermal stability, and chemical resistance of plastic materials, making them suitable for high-performance applications.
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Air Products and Chemicals
Arkema S.A
Asahi Kasei Corporation
BASF SE
DIC Corporation
Unigel S.A.
Evonik Industries AG
Formosa Plastics Corporation
Kaneka Corporation
Kuraray Co. Ltd.
LG Chem Ltd.
Mitsubishi Rayon Co. Ltd.
Lucite International
Mitsubishi Rayon Polymer Nantong Co. Ltd.
Mitsui Chemicals
Inc.
Anderson Development Company
Inc.
Nippon Shokubai Co. Ltd.
Plaskolite
Inc.
PPG Industries
Inc.
Reichhold
Inc.
Royal DSM N.V.
Solvay
Sumitomo Chemical Co. Ltd.
DuPont
The Valspar Corporation
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Thermosetting Acrylic Resin Market
Paints & Coatings
Paper & Paperboard
Plastics
Adhesives
Construction
Extiles & Fibers
Based on Types the Market is categorized into Below types that held the largest Thermosetting Acrylic Resin market share In 2023.
Acrylates
Methacrylates
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
1. Introduction of the Global Thermosetting Acrylic Resin Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Thermosetting Acrylic Resin Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Thermosetting Acrylic Resin Market, By Type
6. Global Thermosetting Acrylic Resin Market, By Application
7. Global Thermosetting Acrylic Resin Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Thermosetting Acrylic Resin Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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