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 thermosetting acrylic resin market has experienced a noticeable transformation from 2018 to 2022, with demand reaching new heights across several industries. The period marked significant advancements in production techniques, allowing the thermosetting acrylic resin to penetrate a broader range of applications. This includes automotive, construction, and electronics, where demand for durable, heat-resistant materials increased substantially. The growing awareness around sustainability and energy-efficient products led to the adoption of thermosetting acrylic resins, which offer superior properties like excellent weather resistance, color stability, and low thermal expansion.
Between 2018 and 2022, the thermosetting acrylic resin market was primarily driven by the expanding automotive sector, which demanded advanced coatings and adhesive materials to improve vehicle durability and finish. Furthermore, there was a surge in the construction industry where acrylic resins became a preferred choice for coatings and sealants, offering enhanced durability against harsh environmental conditions. The surge in demand from these sectors was mirrored by growing technological advancements in resin formulations, making the material more cost-effective and versatile.
The market dynamics from 2023 to 2033, however, suggest a shift in the demand curve. Analysts predict a more pronounced focus on sustainability, with increasing efforts towards recycling and reusing acrylic resins in closed-loop systems. The demand for eco-friendly and low-VOC (volatile organic compounds) thermosetting acrylic resins is expected to rise as governments and industries work towards achieving stringent environmental regulations. Furthermore, as manufacturing processes evolve, a notable shift towards automated and high-efficiency production technologies is anticipated, allowing for better scalability and reduced costs.
One key driving force for this market from 2023 to 2033 is the rising demand for thermosetting acrylic resins in emerging applications such as medical devices and consumer electronics. These resins provide superior surface finishes and durability, making them ideal for products that require both aesthetic appeal and long-lasting protection. Additionally, the adoption of thermosetting acrylics in coatings for wind turbines and solar panels is poised to contribute significantly to market growth, driven by the ongoing shift toward renewable energy sources and sustainable infrastructure.
In conclusion, the thermosetting acrylic resin market is poised to witness substantial growth in the coming decade. As demand increases across diverse industries, the market will benefit from innovations in material science, enabling the development of more sustainable and cost-effective solutions. With a clear focus on eco-friendly and high-performance products, the market outlook remains strong, signaling promising opportunities for manufacturers, suppliers, and end-users alike.
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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)
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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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