Acrylic Resin Dispersion-Based Primers Market is Segmented By Chemistry (Acrylates, Methacrylates, Hybrid), By Solvency (Water-Based, Solvent-Based), By Application (Paints & Coatings, DIY Coatings, Elastomers, the Others), By End-User (Building & Construction, Industrial, Consumer Goods, Electrical & Electronics, Packaging, Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2023-2030
Report Overview
The Global Acrylic Resin Dispersion-Based Primers Market is expected to grow at a high CAGR during the forecasting period (2023 - 2030).
An acrylic resin is either a thermosetting or thermoplastic resin derived from acrylic acid, methacrylic acid, and acrylate monomers. Acrylic resins have a high molecular weight and exhibit quick-dry and lacquer-dry capabilities. A primer is a preparatory coating put on surfaces before painting. Primer coating leads to better adhesion of paint on the surface, increases paint durability, and inhibit rust formation.
Acrylic Resin Dispersion-Based Primers Market Scope
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Metrics |
Details |
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Market CAGR |
High |
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Segments Covered |
By Chemistry, By Solvency, By Application, By End-User, and By Region |
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Report Insights Covered |
Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other vital insights. |
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Fastest Growing Region |
Asia Pacific |
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Largest Market Share |
North America |
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Source: DataM Intelligence Analysis (2023)
Acrylic Resin Dispersion-Based Primers Market Dynamics
The demand for acrylic resin dispersion-based primers is mainly driven by the rising infrastructural and construction activities globally. The health and environmental hazards of acrylic resin dispersion-based primers will be the key challenge for the growth of this market.
Increase in infrastructural and construction activities
Rapid industrialization and urbanization occur globally, especially in emerging markets such as India and China. The migration of people from rural to urban areas in search of better opportunities has led to increased urbanization and a rise in the population of cities. The need has arisen for better infrastructure to cater to the rising population in urban areas. Strong economic growth has led to better socioeconomic outcomes and rising disposable incomes. The above factors, ease of financing, and increased government investment have led to a boom in residential and commercial construction.
New residential complexes, commercial office spaces, recreational centers, stadiums, bridges, tunnels, and mass transit systems are under construction globally. The building & construction industry is experiencing an unprecedented boom, which has created strong demand for good quality, high-performance building materials. Acrylic resin primers are quick-drying, durable, versatile, and economical, making them ideal for large-scale infrastructural and construction projects. Therefore, the increase in infrastructural and construction activities drives the acrylic resin dispersion-based primers market.
Health and environmental hazards
Acrylic resin-based primers pose health hazards due to the presence of Volatile Organic Compounds (VOCs). VOC are compounds that have extremely low vapor pressure and water solubility. VOCs are emitted as gases, especially during the primer drying phase, and have short-term and long-term health risks. Acute health hazards due to VOC exposure are eye, nose, and throat irritation, headache, loss of coordination, nausea, and vomiting. Long-term exposure to VOCs can cause significant damage to the liver, kidney, and central nervous system. VOCs are also considered to elevate cancer risk in humans and animals.
VOCs are a common groundwater contaminant. The compounds leach into the water through careless industrial practices, mainly metal processing, paints, and chemicals. The water pollution caused by VOCs is extremely difficult to clean up and leads to detrimental long-term effects on the local ecosystem. The various health and environmental hazards associated with acrylic resin primers are crucial challenges for the growth of this market.
COVID-19 impact on Acrylic Resin Dispersion-Based Primers Market
The acrylic resin dispersion-based primers market was deeply affected by the COVID-19 pandemic. Governments globally imposed lockdowns to curb the spread of the pandemic. Barring a few essential projects, the global building and construction industry was ground to a halt due to the lockdowns and this led to a collapse in demand for acrylic resin primers. China, the largest market for infrastructure and construction and hence the largest consumer of acrylic resin primers, emerged from lockdowns relatively quickly and generated a good amount of demand, even as the rest of the world was reeling under a massive rise in COVID-19 cases.
The COVID-19 pandemics' knock-on effects on the global supply chains have caused industry-wide shortages of essential raw material components. It has led to long lead times and reduced production rates, even as the world is lifting lockdowns and returning to normal. The pandemic will have a negligible impact on the medium to the long-term growth of the global acrylic resin dispersion-based primers market since companies are expected to gradually ramp up capacity utilization as construction activities resume and demand returns to pre-pandemic levels. The demand for acrylic resin dispersion-based primers remains strong and is expected to grow gradually in the coming years.
Acrylic Resin Dispersion-Based Primers Market Segmentation
The global acrylic resin dispersion-based primers market is segmented into chemistry, solvency, application, end-user, and region. The global acrylic resin dispersion-based primers market is segmented into building and construction, industrial, consumer, paper products, consumer goods, electrical and electronics, packaging, and others based on end-user. Building and construction dominate this segment since it is the largest end-user for this market.
Acrylic resin primers are quick-drying, durable, versatile, and economical, making them ideal for large-scale infrastructural and construction projects. Acrylic resin dispersion-based primers can fulfill the interior and exterior primer coating requirements for residential and commercial construction, bridges, stadiums, and other infrastructure projects, due to the above reasons.
Source: DataM Intelligence Analysis (2023)
Acrylic Resin Dispersion-Based Primers Market Geographical Share
Asia-Pacific is leading in the global acrylic resin dispersion-based primers market. The region accounts for the largest market share, primarily due to major emerging markets such as China, India, Indonesia, Malaysia, Thailand, and Vietnam and developed markets like Japan and South Korea.
China has the largest construction globally and is expected to add US$ 1.2 trillion to global construction output by 2030. Civilian construction has driven this growth, primarily due to the Chinese government's push to make housing more affordable and widespread investment in infrastructure. Another factor fueling growth in this region is China's Belt and Road Initiative (BRI), a global infrastructure investment strategy.
BRI is currently funding the construction of ports, highways, industrial zones, and other infrastructure in emerging markets such as Bangladesh, Sri Lanka, Malaysia, Indonesia, Thailand, and South Korea. India is another major emerging market undertaking massive investment in public infrastructure. The construction boom in Asia-Pacific generates significant demand for primers. The region is expected to retain the largest market share for the global acrylic resin dispersion-based primers market.
Source: DataM Intelligence Analysis (2023)
Acrylic Resin Dispersion-Based Primers Companies and Competitive Landscape
The global acrylic resin dispersion-based primers market is competitive due to the availability of proprietary primers available from different companies for a wide variety of applications. Some of the major players contributing to the growth in the segment are Jotun, Dow, Solvay, BASF SE, Akzo Nobel N.V., Kansai Paint Co. Ltd, Nippon Paint Holdings Co. Ltd, The Sherwin-Williams Company, PPG Industries Inc, Arkema S.A. The significant players adopt several growth strategies such as new product launches, joint ventures, and collaborations, contributing to global growth in the industry.
Jotun
Overview: Jotun is a chemical company specializing in decorative paints and performance coatings. The company operates 37 factories in 21 countries and its products are sold in 120 countries globally. It was founded in 1926 and is headquartered in Sandefjord, Norway.
Product Portfolio: Jotashield Alkali Resistant Primer is a waterborne acrylic resin-based primer that is alkali resistant and has good adhesion properties. It is mainly intended for exterior applications.
Key Developments: In 2020, the company launched the Jotacote Universal S120 primer, specially developed for shipbuilding and marine engineering applications.
Why Purchase the Report?
- Visualize the composition of the acrylic resin dispersion-based primer market segmentation by chemistry, solvency, application, end-user, and region, highlighting the critical commercial assets and players.
- Identify commercial opportunities in the acrylic resin dispersion-based primer market by analyzing trends and co-development deals.
- Excel data sheet with thousands of acrylic resin dispersion-based primer market-level 4/5 segmentation data points.
- PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
- Product mapping in excel for the critical product of all major market players
The global acrylic resin dispersion-based primer market report would provide access to approx.: 84 market data tables, 92 figures, and 180 pages.
Target Audience 2023
- Chemical manufacturers
- Industry Investors/Investment Bankers
- Education & Research Institutes
- Research Professionals
