Rapid Collaborations And Launches To Enhance The Demand For Acrylic Resin

In recent years, the market of acrylic resin has seen a tremendous growth in the chemical industry, due to its unique characteristics such as remarkable clarity and toughness. It is used in various end-use industries such as paints and coatings, construction, and adhesives industries.

The global acrylic resin market is driven by rise in the need for cost-effective and sustainable acrylic resins and an increase in demand from the building and construction industries in developing nations. As per the report of Allied Market Research, the acrylic resins market is projected to reach $28.3 billion by 2028, growing at a CAGR of 5.2% from 2021 to 2028.

Several major players have been adopting new strategies to strengthen their market foothold in the global acrylic resin sector. For instance, Mitsubishi Chemical Corporation, one of the leading players in the acrylic resin market has announced to establish acrylic resin verification facilities in Japan with the assistance of its subsidiary, Mitsubishi Chemical Methacrylates Japan Co. Ltd. This investment aims to commercialize the molecular recycling operation of acrylic resin and polymethyl methacrylate. Furthermore, the company has partnered with Honda Motor Company to plan for the collection of acrylic resins, especially from destroyed automobile taillights, and for molecular recycling and reuse of the destroyed automobile lights.

Covestro, a leading polymer company has announced the acquisition of Resins & Functional Materials business (RFM), a subsidiary of a Dutch company, Royal DSM. The acquisition would broaden Covestro’s portfolio line of sustainable coating resins. According to Dr. Markus Steilemann, the CEO of Covestro stated that this acquisition will contribute to the implementation of a new group strategy, which leads to revenue of about EUR 1 billion. Aside from that, it will include a complete range of water-based polyacrylate resins, and provide solutions for additive manufacturing.

Engineered Polymer Solutions Inc., an American multinational company, has launched a new product, EPS 2157. It is an acrylic polymer emersion for doors and glass where protective masking is required. According to Robert Sandoval, the EPS R&D technical manager of the company stated that this product possesses gentle peel characteristics that set it apart from other goods with the same peel adherence.

However, demand for paints & coatings is predicted to rise in the coming years as infrastructure expenditure would increase, which in turn, further uplift the demand for acrylic resin. Furthermore, the increasing use of acrylic resin in medical devices and the automotive industry is expected to remain a key driving force that will boost the global market of acrylic resin.

Due to health risks regarding PVC and polyethylene, the demand for acrylic resins in the healthcare sector has surged. Wide range of applications and use in a variety of end-user industries would broaden the scope of acrylic resin, which would open lucrative opportunities in the acrylic resins industry for sure.

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