Acrylic Emulsion Market Outlook:
Acrylic emulsion belongs to the group of polymer emulsions. Particle size, distribution and concentration are important quality features for optimal functionality and workability of acrylic emulsion. Fine particles enhance film formation and pigment-binding capability. Furthermore, acrylic emulsions with fine particles have a larger surface area and therefore have greater interaction with thickeners. The particle size also affects the emulsion viscosity since large particles usually correspond to low viscosity, while small particles result in high viscosity.
Good weatherability, high stain resistance, good moisture resistance, crosslinking ability and chemical resistance are advantageous properties of acrylic emulsion.
Acrylic emulsions improve adhesion, binding, thickness, gloss and surface protection, among other features.
Acrylic emulsions are utilized in various sectors for adhesives and sealants, paints and coatings, paper coatings, building additives and others.
Acrylic emulsion polymers are gaining significant demand from barrier coatings and graphic arts applications. The acrylic emulsion can easily be used in overprint varnishes and inks to provide water resistance, rub resistance, alkaline resistance and a high gloss finish. The emulsions can also improve oil, grease and water resistance in barrier coatings for paper and paperboard products.
Industry Dynamics:
There is a growing need to reduce carbon emissions and "become environmentally friendly," Therefore, the Environmental Protection Agency (EPA) has issued a few rules that allow asbestos to be used in roofing materials. According to the United States Green Building Council, buildings emit pollution, directly and indirectly, accounting for 39% of carbon dioxide emissions.
Thus, Paints & coatings companies are developing and launching environmentally friendly and low VOC content products, contributing to the market growth. Acrylic emulsions are VOC-free. Unlike oil-based paints, acrylic emulsions eliminate concerns about health, safety, air quality and odor. In addition, they are designed to sustain extreme environmental conditions. Therefore, they are widely used in architectural decorative paints for interior and exterior walls.
For instance, Nissin Chemical Co., Ltd. has developed VINYBLAN. It is a soap-free acrylic emulsion and does not include toxic substances such as formaldehyde and hormone-disrupting chemicals.
Impact of COVID-19 Analysis:
The global acrylic emulsion market witnessed a downfall during the COVID-19 pandemic, resulting from the temporary suspension of work, hike in raw material prices and less demand from the end-user industries globally. The global acrylic emulsion market growth is directly linked to its various end-user industries, including paints & coatings, automotive, construction, textile and others.
For example, In the COVID-19, UK construction industry faced losses of around US$410.8 million (£301.5 million) per day. The impact of the Coronavirus in India will reduce investment in the construction industry by 13 to 30%, probably affecting gross value added. Moreover, according to a survey conducted by the Associated General Contractors of America in 2020, 78% of contractors responded experiencing project delays or disruptions. In the construction industry, acrylic emulsion is used in adhesives, paints and coatings for roofs, floors and exterior walls.
Regional Share Insights:
North America holds a significant market share in the global acrylic emulsions market in terms of value due to increasing renovation and reconstruction activities being undertaken in U.S. and other North American countries.
Acrylic acid is still utilized to make some of our most regularly used industrial and consumer items today. The acrylic esters methyl acrylate, butyl acrylate, ethyl acrylate and 2-Ethylhexyl acrylate consume almost two-thirds of the acrylic acid supply in U.S. Acrylic acid and its esters are referred to as acrylates. It is found in various paints, coatings, textiles, adhesives and plastics.
Furthermore, countries with strong economies, such as U.S. and Canada, have a lot of potential for the acrylic emulsions market in North America. For example, almost every major corporation for acrylic emulsions, such as Dow, Celanese Corporation, Lubrizol Corporation and H.B. Fuller, has a headquarters in one of the country's major cities. Thus, with investments by key players in their infrastructure, many more are planning to open offices. The increasing number of firms creates huge market growth opportunities for acrylic emulsions in the forecast period.
The North American acrylic emulsion market in the paint and coating industry has shown growth of US$ 587.24 million in 2020 and is expected to grow at a significant rate of US$ 855.75 million by 2028 growing at a CAGR of 5.1% during 2021-2028. Acrylic emulsions play a vital role in the paint and coating industry as the additives help in increasing the abrasion resistance, appearance and bacteria-resistant properties. Thus tremendously improving paint and coating sector of North America is creating a huge demand for acrylic emulsions in recent times.
Furthermore, the region is also building stringent regulations to improve the adoption rate for bio-based products in the paint and coating industry. Companies are launching new products to enable their customers to meet performance and environmental needs.
Saudi Arabia, the Middle East Asia region's largest economy, is also the region's largest paint and coatings market. The Kingdom has become one of the most attractive markets for domestic and foreign paint and coatings producers working in the country due to rapid construction and industrial activity over the last three decades.
Competitive Landscape Analysis:
The global acrylic emulsions market is competitive with the presence of several international and local markets.
The significant global acrylic emulsions market companies include DOW, BASF SE, Celanese Corporation, The Lubrizol Corporation, Arkema, Nissin Chemical co.,ltd., Synthomer Plc, HB Fuller Company, Advanced Polymer Emulsions Company, Ltd., Ashland Global Holdings Inc, NIPPON CARBIDE INDUSTRIES CO.,INC and Suominen Corporation
