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Waterborne Acrylic Resin Market
According to the detailed industry report by Persistence Market Research, the global waterborne acrylic resin market recorded a valuation of US$ 5.44 billion in 2018. The market experienced 3.6% Y-o-Y growth in 2022 and stands at US$ 6.07 billion in 2023. Over the assessment period (2023 to 2033), worldwide sales of waterborne acrylic resins are predicted to increase at a CAGR of 4.7%, resulting in a market size of US$ 9.59 billion by the end of 2033.
A waterborne acrylic resin is an environment-friendly compound that is commonly used in paints & industrial coatings, ships, bridges, and locomotives. This type of acrylic resin is modified for utilization in several sectors and is also known as a thermosetting resin. The thermal property of the resin, including flame retardancy and thermal-oxidative stability, is one of the key factors that greatly influence its practical applications.
The growing paints and coatings industry plays a pivotal role in driving the waterborne acrylic resin market. Waterborne acrylic resin is commonly used as a binder in water-based paints and coatings. It provides excellent adhesion, durability, and resistance to weathering, making it suitable for architectural coatings, industrial coatings, wood coatings, and automotive coatings.
The industry's focus on environmental sustainability, the need for high-performance coatings, and the overall growth of the sector contribute to the increasing demand for waterborne acrylic resins. Europe accounts for a significant market share, and manufacturers’ focus on cutting-edge technologies helps the region maintain its position.
| Attribute | Details |
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Waterborne Acrylic Resin Market Value (2022A) |
US$ 5.85 Billion |
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Estimated Market Value (2023E) |
US$ 6.07 Billion |
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Forecasted Market Value (2033F) |
US$ 9.59 Billion |
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Value CAGR (2023 to 2033) |
4.7% |
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Collective Value Share: Top 3 Countries (2023) |
45% to 50% |
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Worldwide sales of waterborne acrylic resins increased at 1.5% CAGR from 2018 to 2022. Demand for waterborne acrylic resins has been increasing as countries across the world have enacted stringent environmental regulations and policies that prohibit the use of materials that emit volatile organic compounds (VOCs), limiting the development of traditional solvent-based resins.
The market is set to progress at 4.7% CAGR from 2023 to 2033. Demand for waterborne resins is rising due to the expansion of the paints and coatings industry, increasing investments in construction projects, rapidly growing metalworking sector, and the need for eco-friendly materials in packaging applications.
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Get a Customized Version“Growing Emphasis on Sustainability and Green Construction Practices”
The growing construction industry has a significant impact on the market. Waterborne resins are widely used in the construction sector due to their excellent performance characteristics and environmental advantages. Several factors contribute to the strong presence of these resins in the construction industry.
In the construction sector, there is a growing emphasis on sustainability and green building practices. Waterborne resins help achieve sustainability goals since they contain fewer VOCs and have a lower environmental effect. As green building certifications and standards become more common, so does the demand for eco-friendly construction products such as waterborne acrylic resin-based paints and adhesives.
Waterborne acrylic resins are long-lasting and protective in building applications. These resins are utilized in architectural coatings for walls, floors, and roofs to provide weathering, UV radiation, and chemical resistance. Their superior adhesive capabilities provide long-lasting performance, which contributes to the overall quality and longevity of construction projects.
These resins can be applied using various methods, including spraying, rolling, or brushing, providing flexibility in application techniques. They can be formulated to meet specific performance requirements, such as fire resistance, moisture resistance, or anti-graffiti properties, making them suitable for a wide range of construction applications.
Growth of the construction industry, particularly in emerging markets, is anticipated to fuel the demand for waterborne acrylic resins over the forecast period. Rapid urbanization, infrastructure development, and renovation projects drive the need for high-quality coatings and adhesives.
“High Manufacturing Cost Associated with Waterborne Resins Compared to Their Solvent-based Counterparts”
The production and formulation processes of these resins involve additional steps and specialized equipment, which can result in higher manufacturing costs. The raw materials used in the production processes can be expensive compared to those used in solvent-borne resins. This can pose challenges for manufacturers, especially in price-sensitive industries where cost competitiveness is a crucial factor.
Added expenses associated with transitioning to waterborne systems may deter some companies from adopting these resins, particularly if they have well-established processes using solvent-borne alternatives. Efforts can be made to optimize production processes and reduce costs, making products more economically viable and accessible to a wider range of applications and industries.
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Why Does India Account for High Consumption of Waterborne Acrylic Resin Market?
“Increasing Construction and Renovation Activities and Stringent Environmental Regulations”
Demand for waterborne acrylic resins is growing rapidly in India. The country holds 48.5% share of the Asia Pacific market at present. The Indian water-based resin industry appears to be promising, with lucrative prospects in architectural, general industrial, automotive, packaging, protective, wood, marine, coil, and other industries. Expansion of the construction industry, increasing renovation activities, and stringent environmental regulations are driving the usage of solvent-free formulations.
Emerging trends in the aqueous coatings business include the development of nanoparticle waterborne resins for improved performance and acrylic waterborne coatings tailored for steel. All these factors are expected to create opportunities for manufacturers of waterborne acrylic resin in India.
What Makes China a Lucrative Market for Manufacturers of Waterborne Acrylic Resin?
“Advancements in Adhesives and Sealants and Rapid Infrastructure Development”
China is expected to dominate the East Asia market as well as the global market. In 2022, China accounted for 23% share of the global market.
Advancements in adhesives and sealants, as well as infrastructure upgrades, are likely to support the Chinese market. As a result of recent technological breakthroughs in this industry, demand for waterborne resins is projected to grow significantly as individuals and businesses become aware of their environmental obligations.
China has a strong base for construction, paints, coatings, and automotive markets along with metalworking applications, which is expected to create profitable opportunities for resin manufacturers.
Which End-use Industry Generates High Demand for Waterborne Acrylic Resins?
“Optimal Photochemical Properties, Durability, and Weather Resistance of Waterborne Resins Leading to High Demand from Paints & Coatings Sector”
Based on application, the paints and coatings segment accounted for a 41.1% share of the global market in 2022. The paints and coatings sector has exhibited significant expansion in recent years, owing to sustained growth in end-use sectors.
Water-based resins are utilized in a wide range of painting and coating applications, from ornamental to automotive. These resins have excellent chemical and photochemical resistance. Water-based acrylics offer ease of use, excellent paint and gloss preservation capabilities, cost-effectiveness, and versatile performance across various applications, including roof painting and wall coating. They are widely utilized in aerospace, architectural, and plastic coatings due to their exceptional durability and weather resistance.
Paints are utilized on the inside and exterior walls of a variety of structures, including residential, commercial, industrial, and institutional constructions. In addition to their aesthetic features, these paints and varnishes contain specific protective properties. For example, exterior architectural paints and coatings protect structures from fog, sunlight, and wind.
Water-based acrylic resins are used to create paints with outstanding temperature, chemical, and stain resistance, as well as a gorgeous high-gloss and light finish. Waterborne acrylic resins have found applications in packaging coatings for plastics, metals, and paperboard, as well as in coatings for building materials, conventional metals, and domestic electrical equipment. The benefits offered by these resins are anticipated to drive the global expansion of the waterborne acrylic resin market in the coming years.
Where are Waterborne Acrylic Resins Most Extensively Utilized?
Waterborne acrylic resins find wide applications for wood coating. Their utilization accounted for 7.4% value share of the global market in 2022. Waterborne acrylic coatings can enhance the wearability of wood-plastic composites (WPCs) through improved mechanical strength, reducing fading, and minimized surface deterioration and surface roughness.
Coatings must be cured by self-drying, low-temperature baking, or radiation curing as wood furniture cannot withstand high temperatures. Lowering the glass transition temperature of one component of the acrylic coating is one approach; for two-component coatings, the right curing agent can be used to offer the coating the benefits of good light, quick-drying, color retention, and transparency.
Waterborne ultraviolet acrylic polymer is a promising form of resin containing a double bond or epoxy component and other active groups. The catalyst initiates cross-linking and leads to high content, rapid curing, absence of VOCs, high spraying efficiency, and ease of production. Major challenges for the use of aqueous wood coatings as a raw material include the need to reduce the curing temperature and enhance its toughness.
The market is dominated by leading players offering competitive pricing. Leading manufacturers are actively investing in research and development to improve the overall quality and versatility of these resins, catering to the evolving needs of various industries.
Several market participants are investing in R&D to improve film formation and chemical resistance and increase flexibility to meet the changing needs of end-use industries. This includes the creation of self-crosslinking polymers with better durability and adhesion qualities. For Instance:
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Forecast Period |
2023 to 2033 |
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Historical Data Available for |
2018 to 2022 |
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Market Analysis |
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Key Market Segments Covered |
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Key Companies Profiled |
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Pricing |
Available upon Request |
By Application:
By End-use Industry:
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The global waterborne acrylic resin market reached a valuation of US$ 5.85 billion in 2022.
The paints and coatings segment occupied 41.1% share of the global market in 2022.
The global market progressed at a CAGR of 1.5% from 2018 to 2022.
Worldwide sales of waterborne acrylic resins are expected to reach US$ 9.59 billion by 2033.
Demand for waterborne acrylic resins is predicted to rise at a CAGR of 4.7% from 2023 to 2033.
BASF SE, Dow Inc., Arkema SA, Allnex GmbH, and Sherwin-Williams cumulatively account for close to 50% market share.
China, Japan, South Korea, the U.S., and Germany are the top exporters of waterborne acrylic resins.
