Global acrylic resins market to grow by 2015

The global market for acrylic resins is forecast to exceed 16.4 billion pounds by the year 2015. Factors encouraging market growth include increased demand for superior-performing and cost-effective products, and higher demand in developing markets such as Asia-Pacific, according Global Industry Analysts Inc. (GIA) recently released global report on the acrylic resins markets "Acrylic Resins: A Global Strategic Business Report." In addition, a growing number of new product introductions and rising demand for eco-friendly products are expected to impact market growth. The paints and coatings sector constitutes the largest end-use of acrylic resins. Acrylic-based paints and coatings deliver improved color stability, flexibility, weatherability, and enhanced solid content and finishes. Consumption of acrylic resins by end-use markets is projected to exceed 4.4 billion pounds by 2012. Europe represents the largest regional market for acrylic resins worldwide, as stated by the new market research report. Asia-Pacific is expected to register the fastest growth for acrylic resins. The region is forecast to have a CAGR of more than 3 % over the period 2007 through 2015. The United States represents another major market for acrylic resins.