Acrylic Polymer Industry Size, Share, Demand & Growth by 2034
The global industry 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.
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.
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“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
- Toagosei
Co., Ltd.
- Sumitomo
Seika Chemicals Co., Ltd.
- Arkema
- Nippon
Shokubai Co. Ltd.
- Ashland
Global Holdings, Inc.
- Plaskolite
- Lucite
International
- Gellner
Industrial
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.
About the Chemicals and Materials Division
at Future Market Insights (FMI)
The chemicals and materials division of Future Market
Insights (FMI) offers a distinct and pinpoint analysis of the chemicals and
materials industry. This exhaustive coverage extends from commodity, bulk,
specialty, and petrochemicals to advanced materials, composites, and
nanotechnology in particular, with special emphasis on ‘green alternatives,
recycling and renewable technology developments, and supply-demand-trade
assessment. Our research studies serve as referencing market guidelines for
chemical manufacturers, research institutions, channel partners, and government
bodies for developing — ‘The Way Forward’.
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recipient of the Stevie Award, and a member of the Greater New York Chamber of
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