The global acrylic resins market size is projected to reach USD 21.9 billion by 2025 at a CAGR of 5.5% from 2020. Rapid industrialization and urbanization in key countries, such as China and India, have spurred the demand for acrylic resins in the past few years. The building & construction industry requires high-performance materials for protection and decorative purposes.
APAC is projected to be the fastest-growing market for acrylic resins. The rising population, increased demand for residential buildings, rapid industrialization, and increased urbanization are driving the APAC acrylic resins market. China is the largest market for acrylic resins in the region. China is also a major producer and consumer of acrylic resins in the region as it has a huge manufacturing base. Apart from China, India, Japan, and South Korea are projected to grow at a decent rate during the forecast period.
The increase in demand for acrylic resins and the growing construction industry in the emerging economies, such as APAC and South America, are driving the market. The key players in the acrylic resins market include Dow (US), BASF SE (Germany), Arkema (France), Mitsubishi (Japan), Nippon Shokubai (Japan), DSM (Netherlands), Mitsui Chemicals (Japan), Showa Denko Materials (Japan), DIC Corporation (Japan) and Sumitomo (Japan). The acrylic resins market report analyzes the key growth strategies, such as investment & expansion, new product launch, and joint venture, adopted by the leading market players between 2017 and 2020.
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BASF is one of the largest chemical producers in the world and has established its presence in more than 80 countries, globally. The company operates through six business segments namely, chemicals, materials, industrial solutions, surface technologies, nutrition & care, and agricultural solutions. BASF offers acrylic resins under its chemicals segment. The company offers products to agriculture, automotive & transportation, chemicals, construction, paints & coatings, plastics, and rubber industries. BASF SE serves more than 100,000 customers in almost every country in the world. They have R&D centers present in 70 locations and operates with 390 production sites worldwide. The company has spent USD 2.4 billion for R&D in all the business segments.
Arkema is a manufacturer of specialty chemicals and advanced materials. The company has organized its operations through four segments: adhesives solutions, advanced materials, coating solutions and intermediates. The company offers products to general industries, consumer goods, paints & coatings, construction, electronics & energy, automotive & transportation, nutrition, and water sectors. Arkema operates in around 55 countries with about 20,500 employees. The company has 13 research centres worldwide and a total of 144 production sites.
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