The solid-grade thermoplastic acrylic (beads) resin market is expected to register a CAGR of over 5%, in terms of volume, during the forecast period. During the pandemic period in 2020 due to COVID-19, there were nationwide lockdowns and social distancing mandates which led to supply chain disruption and the closure of various manufacturing industries.

New York, Feb. 07, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Solid-Grade Thermoplastic Acrylic (Beads) Resin Market - Growth, Trends, Covid-19 Impact, And Forecasts (2023 - 2028)" - https://www.reportlinker.com/p06231676/?utm_source=GNW
The solid-grade thermoplastic acrylic (beads) resin market is expected to register a CAGR of over 5%, in terms of volume, during the forecast period.

During the pandemic period in 2020 due to COVID-19, there were nationwide lockdowns and social distancing mandates which led to supply chain disruption and the closure of various manufacturing industries. This impacted the market negatively. However, in the post-pandemic period, the market is getting back on track.

Key Highlights
Over the medium term, the expansion of the paint and coatings industry? and the benefits of solid-grade thermoplastic acrylic (beads) resins are expected to drive the market’s growth.
On the flip side, stringent government regulations related to raw materials and the impact of COVID-19 on the market are likely to hinder the growth of the market.
Expansion of the electric vehicle industry is likely to act as an opportunity for the market.
Asia-Pacific dominated the market across the world, with the largest consumption from countries such as China and India.

Solid-Grade Thermoplastic Acrylic Beads Resin Market Trends

Paints and Coatings to Dominate the Market

Solid-grade thermoplastic acrylic (beads) resins are significantly used in the formulation of paints and costings. Furthermore, in the paints and coatings segment, these resins are majorly used in industrial coatings applications. Apart from industrial coatings application, it is also used in architectural coatings, transportation coatings, and coil coatings.
Industrial coatings such as general, PVDF, and metallic coatings are manufactured using solid-grade thermoplastic acrylic resins that are increasingly used to protect industrial equipment and machinery from corrosion and other environmental damage.
These coatings offer abrasion resistance, high heat stability, increased hardness, resistance to wear, low friction, resistance to chemicals, and other benefits. Thus, coating over industrial manufacturing and automation equipment boosts efficiency in operations and extends the tool life. In addition, it also reduces the cycle times and reduces scrap and equipment downtime and maintenance.
Solid-grade thermoplastic acrylic resins are also used in wood coatings, electronic coatings, and others.
The expansion of the industrial sector across the world is likely to boost the demand for industrial coatings to offer protection and improve the performance and efficiency of industrial processes.
Asia-Pacific region’s continuing economic strength and corresponding increasing need for infrastructure, machinery, manufacturing units, and others are likely to propel the demand for industrial coatings in the region. In addition, the expansion of production units and increasing investments in the region is likely to offer newer opportunities in the end-user industries such as iron and steel, chemical, oil and gas, manufacturing, construction, and others.
A growing number of global companies are now moving production to other countries in Asia-Pacific, such as Taiwan, India, Malaysia, Philippines, Thailand, Singapore, and Indonesia. These countries have gained a reputation for manufacturing, with foreign direct investment (FDI) in various sectors. In addition, the government policies in the countries attract foreign players and facilitate the setup of plants.
Europe is home to many large paint industries, with the four largest mainland economies including Germany, France, Italy, and Spain. The presence of several well-established players in the region is projected to result in the expansion of the industrial coatings segment over the forecast period. Expansion of the industrial sector is anticipated to benefit the demand for paints and coatings in the industrial sector to increase the shelf life and enhance the performance of industrial equipment and other machinery.
The Middle-East and African regions are anticipated to witness strong demand for industrial coatings due to the region’s increasing structural reforms. In addition, the announcement of Vision 2030, coupled with the associated National Transformation Plan (NTP), and increased investments in various sectors, including healthcare and education in Saudi Arabia, are likely to propel the demand for industrial coatings over the forecast period.
New, technology-driven coating materials can make public works safer, more resilient, and sustainable, and respond better to extreme weather, rising sea levels, and other 21st-century challenges like chemical damage. By protecting the surfaces to which they are applied, coatings will be a significant contributor to any effort to improve the durability and performance efficiency of industrial machinery, equipment, and infrastructure.
Therefore, owing to the factors mentioned above, industrial coatings are likely to affect the demand for the market.

Asia-Pacific Region to Dominate the Market

Asia-Pacific dominated the market. The consumption levels of the solid-grade thermoplastic acrylic (beads) resin market in Asia-Pacific countries, such as China, India, and Japan, are expected to rise at a significant rate, owing to the increasing demand from the transportation, architectural, and other building and construction industries.
China is the world’s largest automotive manufacturer which accounts for more than 32% of overall world’s automobile production. Since the pandemic period, the manufacturing growth rate is declining. But in 2021, vehicle sales grew slightly by 3.8%. In the forecast period, the introduction of new energy vehicles will lead to an increase in demand for automotive manufacturing in China. These factors in the automobile industry are expected to impact positively the market studied.
The Chinese government plans to have a minimum of 5,000 fuel-cell electric vehicles by 2025 and 1 million by 2030. The government is promoting electric, hybrid, and fuel-cell electric vehicles, which is expected to drive the market studied during the forecast period.
The rising household income levels, combined with the population migrating from rural to urban areas, are expected to continue to drive the demand for the residential construction sector in the country. The increased focus on affordable housing by both the public and private sectors is driving the growth in the residential construction sector.?
Non-residential infrastructure is expected to grow considerably. The aging population in the country is creating a demand for the construction of healthcare facilities and new hospitals. The structural changes in the Chinese economy over the past few years, with the service sector taking a larger share of the total GDP, gave rise to huge commercial and office spaces.?
The country has the largest construction market in the world, encompassing 20% of all construction investments globally. China is expected to spend nearly USD 13 trillion on buildings by 2030, creating a positive market outlook for PVDF and metallic coatings, thus impacting the market.
The government’s reforms in India, such as “Aatma Nirbhar Bharat” and “Make in India” programs, are likely to boost the automotive industry which will in turn lead to an increase in demand for solid-thermoplastic acrylic resin in the forecast period.
According to the OICA, the total vehicle production in India accounted for 4,399,112 units in 2021, registering a growth rate of 30%, compared to the production in the previous year. The increasing automotive sector is expected to augment the industrial coatings market in the forecast period, in turn, driving the market studied.
The construction industry is the second-largest industry in India, with a GDP contribution of about 9%, and it showed promising growth in 2019. However, due to the outbreak of COVID-19, the construction sector witnessed a significant decline in terms of growth and output, owing to the lockdown by the government for a brief period.?
The country is likely to witness an investment of around USD 1.3 trillion in housing over the next seven years, during which it is likely to witness the construction of 60 million new homes. The rate of availability of affordable housing is expected to rise by around 70% in 2024. The Government of India’s ‘Housing for All by 2022’ is also a major game-changer for the industry. This initiative aims to build more than 20 million affordable homes for the urban poor by 2022. This provides a significant boost to residential construction.?
Additionally, the Union Cabinet approved a USD 3.58 billion alternative investment fund (AIF) to revive around 1,600 stalled housing projects across the top cities in India. All such factors are expected to boost the consumption of coatings products in the building construction sector.?
Thus, the above factors are expected to propel the demand for solid-grade thermoplastic resins (beads) in India in the coming years.

Solid-Grade Thermoplastic Acrylic Beads Resin Market Competitor Analysis

The solid-grade thermoplastic acrylic (beads) resin market is a consolidated market with top players occupying a significant amount of share. Some of the key players in the market include Dow, Mitsubishi Chemical Corporation, Covestro AG, Trinseo, and LX MMA, among others.

Additional Benefits:

The market estimate (ME) sheet in Excel format
3 months of analyst support
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