Acrylic Emulsions Market Size, Share & COVID-19 Impact Analysis, By Type (Polymer & Co-Polymer and Pure Acrylic), By Application (Paints & Coatings, Adhesives & Sealants, Construction Additives, Paper Coatings, and Others), and Regional Forecast, 2023-2030

The global acrylic emulsions market size was valued at USD 8.35 billion in 2022 and is projected to grow from USD 8.92 billion in 2023 to USD 14.39 billion by 2030, exhibiting a CAGR of 7.1% during the forecast period.

Acrylic emulsion or acrylic latex is a type of emulsion polymer that is widely used in various industries due to its superior properties and versatile applications. It is a water-based emulsion that contains acrylic polymer particles dispersed in water, which provides excellent adhesion, durability, and water resistance.

The market has been experiencing significant growth over the past few years due to the increasing demand for water-based coatings and adhesives in various end-use industries such as construction, automotive, and textiles. The growth of the construction industry, particularly in emerging economies, is expected to drive the demand for these emulsions in the coming years.

COVID-19 IMPACT

Stagnant Supply Chain and Logistics Cutback Impacted Global Market during the COVID-19 Pandemic

The COVID-19 pandemic had a significant impact on the polymer industry, causing various challenges and disruptions. One of the significant challenges that the industry faced was the disruption of the global supply chain, which led to a shortage of raw materials. The pandemic led to the closure of several manufacturing facilities, resulting in a shortage of raw materials and a decrease in production capacity. The reduced demand for adhesive products owing to disruptions in the automotive and construction industries also affected the product demand. However, the industry was expected to recover gradually as the world would adapt to the new normal.

Acrylic Emulsions Market Trends

Growing Trend for Eco-Friendly and Sustainable Products to Drive the Market Demand

Acrylic emulsions are gaining popularity due to their eco-friendliness and sustainability. They are made by combining acrylic polymer particles with water and other additives, resulting in a stable emulsion that can be used in a variety of applications. One of the main advantages of acrylic latex is that they are free of harmful solvents that can be released into the environment. This makes them a more environmentally friendly alternative to traditional solvent-based products, which often contain high levels of VOCs. In addition, the emulsions have a low odor and are non-flammable, which enhances the safety of their handling and storage.

Furthermore, the emulsions can be used in a variety of products, including paints, coatings, and adhesives, among others. They provide excellent adhesion, durability, and resistance to weathering and UV radiation. They also enable easy clean-up with soap and water, reducing the need for harsh chemicals.

Overall, acrylic emulsion is a sustainable material that offers many benefits over traditional solvent-based products. As more and more consumers and industries become environmentally conscious, the trend is expected to witness continuous growth in the coming years.

Acrylic Emulsions Market Growth Factors

Increasing Demand for Water-Based Coatings in Various End-use Industries to Surge Product Demand

Acrylic emulsions are becoming increasingly popular in various industries, particularly in the coatings industry. It is made by combining acrylic polymer particles with water and other additives, resulting in a stable emulsion that can be used in a wide range of applications. The emulsion is ideal for use in a variety of products, including paints, coatings, adhesives, and others. It also allows for easy clean-up with soap and water, reducing the need for harsh chemicals.

The characteristics of acrylic emulsions that differentiate them from their traditional solvent-based counterparts are the low volatile organic compound (VOC) content and non-flammable nature. This makes them an excellent alternative for industries and consumers who are environmentally conscious. The water-based nature of emulsions helps minimize the release of harmful solvents into the environment. As a result, the trend of using acrylic emulsions is expected to continue growing in popularity as more and more industries and consumers recognize the benefits of this versatile and sustainable material.

RESTRAINING FACTORS

Increasing Availability of Substitute Products such as Vinyl Acetate-Ethylene (VAE) Emulsions May Pose a Threat to the Growth of the Market

Vinyl acetate-ethylene (VAE) emulsion is an excellent alternative to traditional solvent-based emulsions due to its unique characteristics. It is a milky white copolymer emulsion that does not contain any plasticizer. Due to its high ethylene content, it produces a more flexible film and has a greater affinity for non-polar substrates. VAE emulsion is a preferred raw material for formulating adhesives, construction materials, paint, paper coatings, and nonwovens. However, the growing popularity of VAE emulsions has put a restraint on the market growth in recent years.

Acrylic Emulsions Market Segmentation Analysis

By Type Analysis

Polymer & Co-Polymer Segment Holds a Dominant Share as it Suits in a Variety of Applications

Based on type, the market is subdivided into polymer & co-polymer and pure acrylic.

The polymer & co-polymer segment is the leading contributor to this market due to its versatility in various applications. These types of emulsions exhibit a wide range of properties, such as excellent adhesion, water resistance, and durability, making them a popular choice in industries such as construction, textiles, and automotive. With its outstanding performance characteristics, the polymer and co-polymer emulsions are considered reliable and cost-effective solutions for many manufacturing processes.

The pure acrylic segment is growing rapidly due to its numerous benefits, such as excellent weather ability, chemical resistance, and pigment binding capacity. Pure acrylic emulsions are used in a wide range of applications, including exterior wall coatings, roof coatings, and industrial coatings, among others. The segment is expected to rise in the coming years due to the increasing demand for high-performance coatings in various applications.

By Application Analysis

Paints & Coatings Segment Holds Major Share Owing to Growing Consumption from Construction Industry

Based on application, the market is segmented into paints & coatings, adhesives & sealants, construction additives, paper coatings, and others.

The paints & coatings segment holds a dominant acrylic emulsions market share as acrylic emulsion has emerged as a game-changer. Its exceptional performance characteristics, including excellent adhesive properties, water resistance, and durability, make it a preferred choice in the production of interior and exterior paints, primers, sealants, and adhesives. The versatility of acrylic dispersion has enabled the coatings industry to enhance the aesthetic appeal of the final product, making it more durable and resistant to wear and tear.

Moreover, the product used in paints and coatings is cost-effective, easy to use, and environmentally friendly. The technology behind the production of acrylic emulsions has evolved over the years, leading to improved quality, longer shelf life, and greater versatility. As a result, it has become a popular choice for many paint and coating manufacturers, and its demand is expected to continue to grow in the coming years.

Acrylic emulsions are commonly used as construction additives to improve the properties of building materials such as cement, mortar, and concrete. These emulsions can enhance the durability, strength, and flexibility of the materials, making them more resistant to weathering, cracking, and other forms of damage. Additionally, these can improve the adhesive properties of construction materials, making them more effective at bonding to surfaces like wood, metal, and masonry. Overall, acrylic emulsions are a versatile and effective option for enhancing the performance of construction materials.

REGIONAL INSIGHTS

By geography, the market has been studied across North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

Asia Pacific is a major consumer of acrylic emulsions, accounting for a dominant share of the global market. The region's growing population and urbanization have led to an increase in infrastructure development and demand for efficient and cost-effective construction materials, which is driving the product demand.

North America’s market share is expected to witness significant growth in the coming years. The U.S. is a major contributor to the region’s market, accounting for a significant share. The increasing demand for eco-friendly products and high-performance coatings is cited as the key factor driving the market growth in the region.

Europe has witnessed significant industrial development in the last decade. Factors such as economic growth, population growth, and urbanization are the major drivers in the market. In addition, the increasing emphasis on eco-friendly and sustainable products is driving the product demand in the region.

Product demand is rising in Latin America, particularly in construction and automotive industries, which helps drive market growth in the region. Brazil, Mexico, and Argentina are major contributors to the acrylic latex in Latin America.

The Middle East & Africa market is expected to record significant growth driven by the GCC region due to increased investment in the development of infrastructure and rapid growth in the paints & coatings industry. In addition, the automotive and industrial sectors are rising due to demand for automobiles and heavy machinery, increased investment in infrastructure, and favorable government policies to support these industries are contributing to the growth of the market in the region.

List of Key Companies in Acrylic Emulsions Market

New Product Developments and Capacity Expansion Steps are the Key Strategic Initiatives Adopted by Companies to Increase Market Presence

Major players operating in the market are Celanese Corporation, Dow, Arkema S.A., BASF SE, and DIC Corporation, among others. Companies are involved in capacity expansion, new product launches, joint ventures, acquisitions, and partnerships to gain a competitive edge in the market.

For instance, BASF SE has a strong presence in Europe and North America. The company is the region's biggest supplier of specialty solutions for industry petrochemicals and specialty chemicals. Similarly, the other key market players have established a strong regional presence, robust distribution channels, and varied product offerings.

LIST OF KEY COMPANIES PROFILED:

• Celanese Corporation (U.S.)


• Dow (U.S.)


• Arkema S.A. (France)


• BASF SE (Germany)


• DIC Corporation (Taiwan)


• Covestro AG (Germany)


• Henkel AG & Co. KGaA (Germany)


• H.B. Fuller Company (U.S.)


• Mallard Creek Polymers (U.S.)


• Synthomer PLC (U.K.)

KEY INDUSTRY DEVELOPMENTS:

• March 2023: BASF SE commenced the construction of a new production complex at their Verbund site located in Zhanjiang, China. This new complex is composed of plants dedicated to the production of glacial acrylic acid (GAA), butyl acrylate (BA), and 2-ethylhexyl acrylate.


• August 2022: Arkema S.A. introduced a new acrylic polyol emulsion for industrial paints. This new emulsion has been claimed to perform well in 2K or 1K stoving systems and offers significantly lower VOC capabilities, making it an ideal choice for industrial painting applications.


• March 2021: Pidilite Industries launched a new acrylic emulsion that is specifically designed for waterborne traffic marking paints. The new emulsion, called Dr. Fixit Pidifin 2K, aims to provide excellent durability, adhesion, and weather resistance to traffic marking paints. With this launch, Pidilite Industries would expand its product portfolio in the traffic marking paints market.

REPORT COVERAGE

The market report provides a detailed analysis of the market and focuses on crucial aspects such as the competitive landscape, products, and applications. The report offers insights into market trends and highlights vital industry developments. This report includes historical data and forecasts revenue growth at the global, regional, and country levels, and analyzes the industry's latest market dynamics and opportunities. In addition to the factors mentioned above, the report encompasses various factors contributing to the market growth in recent years.

Report Scope & Segmentation