Future Market Insights, Inc. (FMI) forecasts a dynamic acrylic polymer market, propelled by construction growth and rising disposable income but tempered by raw material volatility and environmental regulations. Dive deeper into the intricate dynamics of this burgeoning market and uncover compelling stakeholder opportunities in our comprehensive FMI report
NEWARK, Del., Jan. 18, 2024 /PRNewswire/ --The Global Market Size For Acrylic Polymer is estimated to be around US$ 683.1 million in 2024. In 2023, the market was valued at US$ 642.6 million, and it is projected to exhibit a growth of 5.9% over the forecast period. The industry is estimated to cross a valuation of US$ 1,200 million by 2034.
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The increasing demand from the construction industry is the key reason for the growth of the acrylic polymer market. The rising disposable income in emerging economies also drives consumer spending on durable and aesthetically pleasing goods, further boosting the demand for acrylic polymer-based products in various consumer applications. However, raw material price volatility poses a challenge, as fluctuations in the prices of acrylic monomers can impact manufacturers' production costs and profit margins.
While driving the adoption of eco-friendly solutions, stringent environmental regulations can also increase compliance costs for industry players. The market's dependency on petrochemical feedstocks makes it vulnerable to fluctuations in the oil and gas sector, impacting the overall cost structure of acrylic polymer production.
Manufacturers of acrylic polymers can capitalize on the development of biodegradable alternatives to meet the rising demand for sustainable and biodegradable polymers. The acrylic polymer market is vulnerable to economic downturns, impacting consumer spending and decreasing demand for acrylic polymer-based products across various industries. Fierce competition may lead to pricing pressures, affecting profit margins for companies in the market.
"The development in water-borne acrylic polymer formulations and the exploration of bio-based alternatives reflecting industries' commitment to reducing its environmental footprint," says Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.).
Key Takeaways from the Market Study
- Water-borne dominates the market with a CAGR of 5.6 during the forecast period.
- Polymethyl methacrylate type accounted for a CAGR of 5.7 during the forecast period in the acrylic polymer industry.
- The acrylic polymer market is estimated to grow at 5.9% through 2034.
- The market for acrylic polymer in the United States is predicted to rise at a whopping 6.1% CAGR through 2034.
- The acrylic polymer industry in China has the potential to increase at 6.3% CAGR through 2034.
- The Japan acrylic polymer market is likely to rise by 7.4% CAGR through 2034.
- The market in South Korea is projected to evolve at a CAGR of 7.2% through 2034.
Competitive Landscape
Acrylic polymer technology is continuously evolving, and key players such as Dow Inc., BASF SE, and Arkema are driving innovation and research in this field. Substantial investments in research and development have contributed to developing advanced formulations that address industry trends and evolving customer needs.
Leading players, like Sumitomo Seika Chemicals and Nippon Shokubai, leverage their strong supply chain networks and global presence to cater to diverse regional demands. This enables them to ensure a steady supply of acrylic polymers worldwide, which ultimately influences market dynamics across different continents.
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For instance, Roehm unveiled two acrylic-based copolymer compounds, Cyrolite GP-20, and MD zk6, at the 2023 MD&M West trade show on February 9, 2023. These compounds displayed a balance of properties that are ideal for medical devices.
Acrylic Polymer Market Segmentation:
- By Type:
- Polymethyl Methacrylate
- Sodium Polyacrylate
- Polyvinyl Acetate
- Polyacrylamide
- Others
- By Solution Type:
- Water-Borne
- Solvent-Borne
- By Application:
- Dentistry
- Cosmetics
- Paints & Coatings
- Cleaning
- Others
- By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- The Middle East and Africa (MEA)
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About the Author:
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
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About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai and has delivery centers in the United Kingdom, the United States, and India. FMI's latest market research reports and industry analysis helps businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition.
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