Acrylic Resin Market Is Driven By Expanding Applications of Paints and Coatings, Adhesives, and Textile, By Outlook By 2024
Acrylic resins, thermoplastic materials derived from compounds such as acrylic acid, methacrylic acid, etc., have an array of applications. This is because they feature durability, transparency, adherability, water resistance, hardness, heat resistance, weather resistance, and glossy external appearance. A report by Transparency Market Research broadly segments the different applications of acrylic resins into automotive, paints and coatings, lighting fixtures, adhesives, and textile. Of these, the paints and coatings segment grosses maximum revenue and hence accounts for a dominant position in the market. Used mostly as decorative coatings and do-it-yourself coating primarily in the construction and automotive industry, they are also slated to outshine all other segments in terms of growth rate in the near future because of their versatility and durability. The TMR report also classifies the global acrylic resin market by end users into automotive, construction, and consumer g...