Acrylic Polymer Market Trends, Key Players Analysis, Regional Trends, Competitive Landscape, and Industry Potential
The Acrylic Polymer Market refers to the sector within the chemical industry that produces acrylic polymers, which are synthetic resins made from acrylic acid or its derivatives. Acrylic polymers exhibit excellent properties such as transparency, weather resistance, UV resistance, and thermal stability, making them versatile materials used in various applications across different industries. According to the new market research report "Acrylic Polymer Market for Cleaning Application by Type(Water-borne & Solvent-borne), Application(Laundry & Detergent, Dish Washing, Industrial & Institutional, Hard Surface Cleaning) & Region(APAC, North America, Europe, RoW) - Global Forecast to 2026", published by MarketsandMarkets™, the market is projected to grow from USD 580 million in 2021 to USD 709 million by 2026, at a CAGR of 4.1%. The water-borne accounted for the largest market share of 93.8% in 2020, in terms of value. Laundry & Detergent is estimated to be the largest application of acrylic polymer market for cleaning application during the forecast period, followed by dish washing in terms of volume. With the increasing population, increasing per-capita income, changing lifestyle, and increasing usage of washing machines across the globe, the demand for laundry detergent is growing, which is subsequently driving the acrylic polymer market for cleaning application. Moreover, increasing demand for liquid dish washing products in hotels, restaurants and food retails, and household applications further supports the growth of the acrylic polymer market.
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Acrylic Polymer Industrial Growth and End-Use Industries:
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Paints and Coatings: Acrylic polymers are widely used as binders in water-based paints and coatings. They provide adhesion, durability, and color retention properties to coatings, making them suitable for architectural coatings, automotive coatings, industrial coatings, and decorative paints.
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Adhesives and Sealants: Acrylic polymers are utilized in the formulation of adhesives and sealants for bonding and sealing applications in construction, automotive, aerospace, and consumer goods industries. Acrylic adhesives offer excellent bonding strength, flexibility, and resistance to environmental factors such as moisture and temperature fluctuations.
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Textiles and Nonwovens: Acrylic polymers are used in textile applications such as acrylic fibers, which are commonly used in the production of clothing, upholstery fabrics, carpets, and blankets. Additionally, acrylic polymers are utilized in nonwoven fabrics for applications such as filtration, medical textiles, and hygiene products.
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Paper Coatings: Acrylic polymers are employed as coating agents for paper and paperboard products to enhance their surface properties such as gloss, smoothness, and printability. Acrylic coatings provide protection against moisture, oil, and abrasion, making them suitable for packaging materials, labels, and graphic arts applications.
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Construction and Building Materials: Acrylic polymers are used in construction materials such as acrylic-based concrete sealers, waterproofing coatings, and architectural finishes. They offer excellent weather resistance, durability, and adhesion properties, making them suitable for exterior and interior applications in construction.
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Personal Care Products: Acrylic polymers find applications in the personal care industry for the formulation of hair styling products, nail polishes, skincare products, and cosmetics. Acrylic-based polymers provide film-forming, thickening, and conditioning properties in personal care formulations.
Due to the COVID-19 pandemic, there is growing awareness about hygiene and cleanliness in public places, and governments have issued guidelines to take the utmost precaution to avoid the spread of the virus. Thus, the demand for cleaning products in industrial and institutional places has increased significantly across the globe, which in turn supports the growth of the acrylic polymer market for cleaning application. However, due to fluctuating crude oil prices and increasing raw material prices across the globe, the market growth may be restricted in the upcoming years.
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Water-borne is the largest segment by type in the acrylic polymer market for cleaning application.
Based on type, the water-borne acrylic polymer segment is estimated to account for the larger share of the overall market. The major factor driving this segment is the high solubility, dispersion in cleaning products, and increasing demand for sustainable products. It also helps to improve the cleaning products performance and efficacy rate, owing to which it is prevalently used in Europe and North America. However, the cost of water-borne is high compared to solvent-borne.
Laundry & Detergent is the largest segment by application in the acrylic polymer market for cleaning application.
The laundry & detergent segment is estimated to account for the largest share of the overall acrylic polymer market for cleaning application in 2020, closely followed by the dish washing segment. With the increasing population, increasing per-capita income, changing lifestyle, and increasing usage of washing machines across the globe, the demand for laundry detergent is growing, which is subsequently driving the acrylic polymer market for cleaning application. Moreover, increasing demand for liquid dish washing products in hotels, restaurants and food retails, and household applications further supports the growth of the acrylic polymer market.
North America is estimated to be the largest market for acrylic polymer market for cleaning application.
North America accounted for the largest share of the acrylic polymer market for cleaning application in 2020, followed by Europe. In Europe and North America, stringent regulations and increasing demand for sustainable laundry & detergents and other cleaning products have supported the growth of the acrylic polymer market for cleaning application in the regions.
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Acrylic Polymer Market Key Players
The leading players in the acrylic polymer market for cleaning application are Dow Inc. (US), BASF SE (Germany), Toagosei Co., Ltd. (Japan), Sumitomo Seika Chemicals Co., Ltd. (Japan), Arkema (France), Nippon Shokubai Co. Ltd. (Japan), Ashland Global Holdings, Inc. (US), and others.
Dow Inc., Dow Inc. serves as the holding company for The Dow Chemical Company (TDCC) and its consolidated subsidiaries. Dow Inc. operates through three main business segments; packaging & specialty plastics; industrial intermediates & infrastructure; and performance materials & coatings. Under the performance materials & coatings segment, the company offers acrylic polymer for cleaning application under the trademarks DURAPLUS, ACUSOL, and RHOPLEX.
BASF SE, BASF is among the leading chemical companies in the world. The company operates through various business segments, namely, Chemicals, Materials, Industrial Solutions, Surface Technologies, Nutrition & Care, and Agricultural Solutions segments. The company has six Verbund sites, 241 additional production sites in more than 90 countries, and three global research divisions in Europe, Asia Pacific, and North America. The company offers acrylic acid, acrylic monomers, and acrylic polymer products under the petrochemical sub-segment, a part of the chemical division. The company has an acrylic acid production capacity of 1,510 kilotons. The company offers products under the "Sokalan" brand name.
Toagosei Co., Ltd., Toagosei is engaged in the manufacture and sale of chemical and industrial products. The company operates through the following segments: Commodity Chemicals, Polymer & Oligomer, Adhesive Material, Performance Chemicals, Plastics, and Others. It sells acrylic polymer, acrylic monomers, and other products under the Polymer & Oligomer segment.
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Recent Developments
- In August 2021, BASF and SINOPEC will further expand their Verbund site in Nanjing, China. It includes the capacity expansion of several downstream chemical plants, including a new tert-butyl acrylate plant by using acrylic acid and isobutene of the existing Verbund as feedstock.
- In December 2020, Ashland Chemical Holdings Inc. increased production capacity for Aquaflow (Acrylic polymer) synthetic thickeners.
- In November 2019, Nippon Shokubai Indonesia, an Indonesian subsidiary of Nippon Shokubai Co., Ltd., obtained Halal certification in Indonesia from Lppom Mui, a Halal certification authority affiliated with Majelis Ulama Indonesia, about acrylic acid (AA) and acrylates. This will boost the sale of acrylic polymers in the region.
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