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’.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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