Key vendors in the market are continuously striving at investing in R&D activities with a view to widen its product portfolio, and it is likely to aid the market to sustain growth and attain a steady CAGR over the forecast period.
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In the recent past, a rapid change has been observed in the entire value chain of acrylic resin coatings industry. Acrylic resin coatings are manufactured from the acrylic/methacrylic polymers, and have inertness to the outdoor environment and possesses a strong color retention property.
Acrylic resin coatings market is considered significant owing to the sheer size and scope of the applications, ranging from household furnishing usage to application in mega events such as exhibitions, business forums, and sporting events, the scope of demand for acrylic resins is extensive.
The acrylic resin coatings finds a number of applications owing to a number of properties such as good adhesion to non-porous surfaces, excellent gloss, finish and clarity, better storage stability, superior hardness, improved flow, superb weather ability, improved solubility, and high alkali-resistance and anti-corrosion properties.
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The acrylic resin coatings are hugely advantageous over the other coating types owing to the wide pigment compatibility, environmental friendliness, low drying time, and ease of application, especially in case of water-borne paints. Acrylic resin coatings are the widely consumed finishes in the paints and coatings market globally.
The global acrylic resin coatings market is expected to register a high growth during the forecast period 2015-2025. High Demand for value-added functional offerings accelerates the growth of the global acrylic resin coatings market.
Increasing disposable incomes and the increased focus on urbanization globally, is also predicted to lead to growth of the global acrylic resin coatings market over the forecast period.
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The emergence of new advanced technologies, particularly in the water-borne segment also fuels the growth of the global acrylic resin coatings market, for example, hybrid coatings like epoxy acrylic hybrid and alkyd acrylic hybrid aids in overcoming the shortcomings of the conventional acrylic coatings. The rising prices of raw materials may hinder the growth of the global acrylic resin coatings market over the forecast period.
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