Acrylic Polymer Market 2024: Size, Overview, Trends, Latest Insights and Forecast - 2026
Acrylic polymers, derived from acrylic acid or its derivatives, are highly sought-after in the chemical industry due to their versatility and performance. They find extensive use in coatings, adhesives, textiles, healthcare, packaging, and construction materials. From providing vibrant colors and durable protection in paints to offering strong bonds in adhesives and sealants, acrylic polymers play a crucial role across various sectors, driving demand for their transparent, flexible, and durable properties.
According to the new market research report "Acrylic Polymer Market for Cleaning Application by Type(Water-borne & Solvent-borne), Application(Laundry & Detergent, Dish Washing, Industrial & Institutional, Hard Surface Cleaning) & Region(APAC, North America, Europe, RoW) - Global Forecast to 2026", published by MarketsandMarkets™, the market is projected to grow from USD 580 million in 2021 to USD 709 million by 2026, at a CAGR of 4.1%.
The Acrylate Polymers market is witnessing significant growth driven by various factors. Technological advancements, coupled with increasing consumer demand, are key drivers propelling market expansion. As awareness of Acrylate Polymers benefits grows, so does adoption across different industries and sectors.
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The water-borne accounted for the largest market share of 93.8% in 2020, in terms of value. Laundry & Detergent is estimated to be the largest application of acrylic polymer market for cleaning application during the forecast period, followed by dish washing in terms of volume. With the increasing population, increasing per-capita income, changing lifestyle, and increasing usage of washing machines across the globe, the demand for laundry detergent is growing, which is subsequently driving the acrylic polymer market for cleaning application. Moreover, increasing demand for liquid dish washing products in hotels, restaurants and food retails, and household applications further supports the growth of the acrylic polymer market.
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Due to the COVID-19 pandemic, there is growing awareness about hygiene and cleanliness in public places, and governments have issued guidelines to take the utmost precaution to avoid the spread of the virus. Thus, the demand for cleaning products in industrial and institutional places has increased significantly across the globe, which in turn supports the growth of the acrylic polymer market for cleaning application. However, due to fluctuating crude oil prices and increasing raw material prices across the globe, the market growth may be restricted in the upcoming years.
Acrylic Polymer Market Key Players
The leading players in the acrylic polymer market for cleaning application are Dow Inc. (US), BASF SE (Germany), Toagosei Co., Ltd. (Japan), Sumitomo Seika Chemicals Co., Ltd. (Japan), Arkema (France), Nippon Shokubai Co. Ltd. (Japan), Ashland Global Holdings, Inc. (US), and others.
Water-borne is the largest segment by type in the acrylic polymer market for cleaning application.
Based on type, the water-borne acrylic polymer segment is estimated to account for the larger share of the overall market. The major factor driving this segment is the high solubility, dispersion in cleaning products, and increasing demand for sustainable products. It also helps to improve the cleaning products performance and efficacy rate, owing to which it is prevalently used in Europe and North America. However, the cost of water-borne is high compared to solvent-borne.
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