The Acrylic Polymer Market is estimated to be worth USD 683.1 million in 2024. For 2023, the market value was tipped to be USD 642.6 million.
The market is projected to show solid growth from 2024 to 2034, with a CAGR of 5.7%. By 2034, the size of the market is expected to reach USD 1,200 million.
The acrylic polymer industry is growing due to increasing demand in construction, automotive, paints, and coatings, driven by their versatility, durability, and environmental advantages.
Market Overview
| Attributes | Details |
|---|---|
| Market Value for 2024 | USD 683.1 million |
| Projected Market Value for 2034 | USD 1,200 million |
| Value-based CAGR of Market for 2024 to 2034 | 5.7% |
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The market size of acrylic polymer was marked to be USD 298 million in 2019. The market progressed consistently over the historical period from 2019 to 2023, with a CAGR of 2.7%.
The acrylic polymer market has experienced steady growth, driven by its versatile properties and widespread use in various industries.
Technological advancements and the development of high-performance acrylic polymers with enhanced characteristics have also played a critical role in expanding the market.
Initially, supply chain and production disruptions were observed. However, the market rebounded as demand surged in various sectors, such as healthcare for medical equipment and paints, as people invested in home improvements and packaging materials.
The increased focus on hygiene and the resilient nature of acrylic polymers contributed to the market's recovery after pandemic-related challenges.
| Attributes | Details |
|---|---|
| Market Value (2019) | USD 501.0 million |
| Historical CAGR (2019 to 2023) | 6.4 % |
| Historical Market Valuation (2023) | USD 642.6 million |
Based on solution type, the market is segmented into polymethyl methacrylate and water-borne. Solution types in the acrylic polymer market are crucial as they provide versatile and easily applicable formulations for industries. Solutions offer efficient coating, adhesion, and flexibility, meeting diverse application needs across sectors.
Polymethyl methacrylate is the common type of acrylic polymer used. From 2024 to 2034, polymethyl methacrylate is expected to account for a CAGR of 5.7% of the market share.
Polymethyl methacrylate (PMMA) is a highly versatile acrylic polymer widely used across various industries. Its exceptional optical clarity and transparency, which makes it a popular choice for applications such as clear plastics, optical lenses, and light-transmitting materials, are among its key advantages.
PMMA's ability to transmit light efficiently while being durable and weather-resistant makes it a preferred material for producing signage, displays, and lighting fixtures.
| Attributes | Details |
|---|---|
| Top Type | Polymethyl Methacrylate |
| CAGR (2024 to 2034) | 5.7% |
Water-borne solutions have become the preferred choice in the acrylic polymer industry due to their eco-friendliness and sustainability. For the forecast period, the water-borne segment is anticipated to contribute a CAGR of 5.6% of the market share.
Water-borne acrylic polymers are increasingly preferred in the industry due to their eco-friendliness. They have lower VOC levels than solvent-based alternatives, making them compliant with environmental regulations. They offer advantages such as ease of application, faster drying times, and reduced odor.
| Attributes | Details |
|---|---|
| Top Solution Type | Water-Borne |
| CAGR (2024 to 2034) | 5.6% |
The demand for eco-friendly acrylic polymer solutions is rapidly increasing. Manufacturers in the United States, the United Kingdom, China, Japan, and South Korea invest in research and development to meet the growing demand for waterproof construction chemicals.
Regulatory pressures and consumer preferences for sustainable and safer materials drive this trend.
| Countries | CAGR (2024 to 2034) |
|---|---|
| United States | 6.1% |
| United Kingdom | 6.5% |
| China | 6.3% |
| Japan | 7.4% |
| South Korea | 7.2% |
The United States is set to be one of the lucrative countries for the market. For the 2024 to 2034 period, the market is estimated to register a normal growth of 6.1%.
The construction industry in the United States is experiencing a significant boom, driving the demand for acrylic polymers in various applications, including coatings, sealants, and adhesives.
The market's growth in the United States is also attributed to ongoing research and innovation in acrylic polymer technology, focusing on developing sustainable solutions.
For instance, in a paper published on February 14, 2022, researchers showcased the antibacterial and anti-biofouling qualities of sub-100-nanometer scale nanopatterned polymers in acrylic nanostructured films designed for food packaging applications.
The acrylic sheets mark the parameters and push the boundaries of construction in the United Kingdom acrylic polymer industry. For the forecast period, the CAGR for the United Kingdom is predicted to be 6.5%.
The United Kingdom has seen a surge in demand for acrylic polymer-based paints, coatings, and adhesives due to an increased focus on architectural renovations and home improvements.
The country's strict environmental regulations have also contributed to adopting water-borne acrylic polymer solutions, which align with the country’s sustainability goals.
Another country in Asia marked with promise for the market is China. For the forecast period, the CAGR for China is predicted to be a commendable 6.3%.
China's rapid urbanization has significantly increased construction activity, resulting in a high demand for acrylic polymers in various construction materials and coatings.
Being a leading manufacturing hub, China's industrial sector is a key consumer of acrylic polymers in diverse applications ranging from textiles to consumer goods.
The innovative automotive industry requires acrylic polymers for lightweight and durable materials used in paints, coatings, and interior components. With a technology-driven market, Japan is constantly advancing its acrylic polymer formulations to meet the evolving needs of various industries.
The market for acrylic polymers in Japan is predicted to be a commendable 7.4% for the forecast period.
South Korea's robust electronics manufacturing sector relies heavily on acrylic polymers to produce electronic components, coatings, and adhesives.
As a key player in the petrochemical industry, South Korea benefits from a strong supply chain and advanced manufacturing capabilities supporting its acrylic polymer market. For the forecast period, the demand for acrylic polymers in South Korea is predicted to be a commendable 7.2%.
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Companies in the acrylic polymer industry should focus on strategic initiatives to stay competitive and capitalize on market trends.
They are moreover, investing in research and development to develop advanced acrylic polymer formulations that align with emerging industry needs, such as environmentally friendly solutions, enhanced product performance, and exploring new applications to diversify their product portfolios.
In addition, establishing strong partnerships and collaborations across the value chain can enhance market reach and ensure a stable supply chain. Focusing on compliance with evolving environmental regulations is also essential for long-term success.
Recent Development
On February 9, 2023, a Germany-based chemical company, Roehm launched two acrylic-based copolymer compounds, Cyrolite GP-20 and MD zk6, at the 2023 MD&M West trade show. Engineered for injection molding and extrusion, these compounds showcased an exceptional balance of properties ideal for medical devices.
The size of the acrylic polymer market in 2024 is likely to be USD 683.1 million.
By 2034, the size of the acrylic polymer industry is expected to be worth USD 1,200 million.
From 2024 to 2034, the acrylic polymer market is expected to progress at a CAGR of 5.9% in India.
Polymethyl methacrylate is the popular acrylic polymer type, with an expected CAGR of 5.7% in 2024.
The acrylic polymer market in Japan is likely to capture a CAGR of 7.4% through 2034.
| Estimated Market Size in 2024 | USD 138.8 million |
|---|---|
| Projected Market Value in 2034 | USD 209.4 million |
| Value-based CAGR from 2024 to 2034 | 4.2% |
| Market Share (2023) | USD 5,470.6 million |
|---|---|
| Market Share (2033) | USD 8,006.7 million |
| Market CAGR (2023 to 2033) | 4.2% |
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Acrylic Polymer Market
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