Global Acrylic Emulsions Market: Snapshot
Stiff competition prevails in the global acrylic emulsions market. Well-entrenched players in the acrylic emulsions market are focused on mergers and acquisitions, product innovation, and expanding their global presence in a bid to strengthen their market share.
Majorly fuelling the global acrylic emulsions market is the recovery of the construction sector globally. The increasing number of residential complexes and commercial buildings that display a substantially high demand for paints and coatings are indirectly benefiting the acrylic emulsions market.
The rising disposable income leading individuals to buy high quality decorative paints and coatings is also benefiting the acrylic emulsions market.
As per estimates presented by a report by Transparency Market Research (TMR), the global acrylic emulsions market will be worth US$8,792.6 mn by the end of 2022 from its evaluated worth of US5,915.9 mn in 2017 at a CAGR of 8.2% for the forecast period between 2017 and 2022.
Acrylics Product Segment Emerges Profitable
Broadly, the global acrylic emulsions market is studied on several important parameters, including product type, application, and region. In terms of product type, the market is classified into acrylics, vinyl acetate, and others. Among these, acrylics is estimated to constitute 62.9% of the overall demand for acrylics emulsion in 2017, to be worth US$3,718.7 mn. The physical properties of acrylics that make them suitable for a large number of consumer and industrial end-use products account for the high growth of this product segment. By the end of the forecast period in 2022, the acrylics segment is anticipated to retain its prominence displaying the leading year on year absolute growth compared to other product segments. The segment is projected for a CAGR of 8.3% during the forecast period to serve a demand worth US$5,533.0 mn by 2022.
On the basis of application, the global market for acrylic emulsions has been bifurcated into water-based paints, adhesives & sealants, paper/paperboard coatings, and others.
Asia Pacific to Continue to Remain Prominent
Geographically, the report studies the potential of acrylic emulsions market across the regions of North America, Asia Pacific except Japan, Europe, Latin America, the Middle East and Africa, as well as in the country of Japan. In 2017, Asia Pacific except Japan is expected to emerge as the most lucrative region for companies operating in this market accounting for 43.1% revenue share. The region is expected to shine gaining 81 basis point (BPS) in its market share between 2017 and 2022. The dominance of this region is attributed to rising disposable incomes and rapid industrialization in countries such as China and India.
The North America acrylic emulsions market is expected to continue to remain attractive incrementing at an above-average CAGR of 8.7% to be valued at US$1,808.9 mn by the end of 2022. The growth of this regional market is attributed to substantial spending on high quality paints and coatings in the U.S.
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The Middle East and Africa is currently an attractive market to serve a demand worth US$520.5 mn by 2022, its CAGR for the said forecast period is 8%, close to the CAGR of Asia Pacific except Japan projected at 8.8% between 2017 and 2022. The recovery of the construction sector leading to the construction of industrial complexes is boosting the growth of Middle East and Africa acrylic emulsions market.
Some of the key companies currently operating in the worldwide acrylic emulsions market are Arkema S.A., Clariant, Ashland Inc., DIC Corporation, The Dow Chemical Company, BASF SE, H.B. Fuller, Synthomer Plc., Celanese Corporation, and The Lubrizol Corporation.