Strong Growth Projected for Solid Acrylic Resins through 2031
Asia Pacific dominated the global solid acrylic resins market in 2020 due to increases in infrastructure and construction activities.
The global solid acrylic resins market is estimated to expand at a CAGR of 7.3% in terms of revenue from 2021-2031, according to a report from Transparency Market Research. The market is broadly affected by several factors, including the use of solid acrylic resins in the paints and coatings industry. Increasing demand for paints and coatings, inks, and varnishes in the construction, infrastructure, and automotive industries is propelling the global solid acrylic resins market.
Residential and commercial construction is the major contributor to the market size of acrylic resin-based systems. Residential construction has been increasing significantly in the past few years due to growing consumer disposable incomes, changing lifestyles, growth in demand for single-family homes, and the ease of financing.
Regionally, the global solid acrylic resins market can be segmented into North America, Asia Pacific, Europe, Latin America, and Middle East and Africa. Asia Pacific dominated the global solid acrylic resins market in 2020 due to increases in infrastructure and construction activities, including in China and India. The region is expected to maintain its dominance during the forecast period.
The solid acrylic resins market in the Middle East and Africa region is anticipated to expand at a significant pace during the forecast period. In addition, the larger size of end-use industries in Latin America and Europe is expected to augment the solid acrylic resins market in these regions.
Additional details are available at www.transparencymarketresearch.com.
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