The market for acrylic emulsions is expected to grow at a CAGR of more than 5% during the forecast period. Major factors driving the market studied are the growing demand for water-based paints. This is due to the rising input costs for solvent-based paints. However, the growing preference for polyurethane in coating applications is expected to restrain the market growth.
- Paints and coatings application dominated the market, and it is expected to grow during the forecast period owing to the developments in the construction industry in the Asia-pacific region.
- The acrylic emulsions market is also driven by the growing investment in the Asia-pacific construction industry.
- North America dominated the market across the world with the largest consumption followed by Europe and Asia-pacific.
Key Market Trends
Paints & Coatings Application to Dominate the Market
- One of the major applications of acrylic emulsions is in making architectural and industrial coatings owing to factors, like low VOC emissions, easy handling, and high performance in water-borne coatings.
- There has been increasing adoption of water-based paints and coatings in recent years, owing to factors, like high durability, less odor, and low VOC emissions. In the residential coatings sector, water-based paints and coatings account for around 80% of total paints sold.
- The Indian building and construction industry is witnessing rapid growth, and it is expected to become the world’s third-largest construction industry behind China and the United States, during the forecast period.
- The ASEAN building and construction sector is expected to witness rapid growth in the upcoming years owing to increment in both public and private investment in the construction sector.
- Increasing demand for construction of both residential and non-residential building construction is also contributing to the growth of the ASEAN construction industry. This growth in the building and construction industry is expected to increase the demand for paints and coatings, which, in turn, is expected to boost the demand for acrylic emulsions.
- Hence, paints and coatings application is expected to continue dominating the market during the forecast period.
Asia-Pacific Region to Witness a Major Growth Rate
- Increasing demand for building and construction in countries, like China and India, has resulted in Asia-Pacific’s domination over the global acrylic emulsions market.
- For instance, the Indian government is likely to invest around USD 1.3 trillion in housing over the next seven years. The government is likely to construct 60 million new homes which are likely to boost the acrylic emulsions market.
- Both the commercial and residential construction industries are witnessing growth in the ASEAN countries owing to the increasing investment by both the government and private organizations.
- Owing to these factors, Asia-pacific is likely to witness a major growth rate during the forecast period.
The acrylic emulsions market is moderately consolidated with a few players occupying a major share in the market. Some of the key players include BASF SE, Dow., Arkema Group, Celanese Corporation, DIC CORPORATION, etc.
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