Product Code: ETC065923 | Publication Date: Aug 2023 | Updated Date: Feb 2025 | Product Type: Report | |
Publisher: 6Wresearch | No. of Pages: 70 | No. of Figures: 35 | No. of Tables: 5 | |
India Acrylic Resins market currently, in 2023, has witnessed an HHI of 1850, Which has decreased slightly as compared to the HHI of 2012 in 2017. The market is moving towards moderately competitive. Herfindahl index measures the competitiveness of exporting countries. The range lies from 0 to 10000, where a lower index number represents a larger number of players or exporting countries in the market while a large index number means fewer numbers of players or countries exporting in the market.
Acrylic resins are synthetic polymers composed of acrylic acid and other monomeric compounds, such as ethyl acrylate, methylmethacrylate, and butyl methacrylate. Acrylic resins have a wide range of applications in the construction industry, automotive industry, furniture manufacturing sector, coatings and adhesives sectors owing to their excellent properties like superior adhesion strength with surfaces including plastics and metals. In India Acrylic Resin Market is growing at a CAGR of 7.1% due to high demand from end use industries such as Automotive & Transportation Coatings; Industrial Wood Coatings; Architectural Coating & Exterior Finishes; Protective Coatings for High Performance Applications; Printed Circuit Board Components etc
The major driving forces behind the growth of the Indian Acrylic Resin market include increasing urbanization which has led to an increase in infrastructure development activities across India coupled with growing automotive production that requires paints and coatings made using acrylic resin. Additionally government initiatives related to smart cities projects also propels the market growth. The implementation of GST (Goods & Services Tax) system has resulted in improved logistics services within the country leading to smooth transportation process resulting further fueling market growth.
However there are certain challenges faced by manufacturers operating in India?s acrylic resin market which includes availability of raw materials for manufacturering these products in addition to price competition from imported products coming from China or Europe due to lower labor cost there adding up additional costs incurred while doing business here . Moreover volatile prices fluctuation keeps on affecting scenario making it difficult for players involved in this field resulting into reduced profit margins .
With rising awareness regarding environment friendly solutions among consumers , companies have started introducing bio based acrylic resins derived mostly form plants sources thereby contributing towards eco friendly lifestyle trend going on across globe . Additionally Switching over conventional solvent borne coating technologies towards waterborne technology is another current trends observed nowdays due its advantages over former ones like low VOC emission , faster drying time , better product film formation etc .
Major key players operating in Indian Acrylic Resin Market includes Asian Paints Ltd, Jenson And Nicholson Pvt Ltd., Akzo Nobel Car Refinishes Pvt Ltd., Bayer Material Science AG Germany , Kansai Nerolac Paints Limited amongst others.
1 Executive Summary |
2 Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 India Acrylic Resins Market Overview |
3.1 India Country Macro Economic Indicators |
3.2 India Acrylic Resins Market Revenues & Volume, 2021 & 2031F |
3.3 India Acrylic Resins Market - Industry Life Cycle |
3.4 India Acrylic Resins Market - Porter's Five Forces |
3.5 India Acrylic Resins Market Revenues & Volume Share, By Type, 2021 & 2031F |
3.6 India Acrylic Resins Market Revenues & Volume Share, By Property, 2021 & 2031F |
3.7 India Acrylic Resins Market Revenues & Volume Share, By Application, 2021 & 2031F |
4 India Acrylic Resins Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.3 Market Restraints |
5 India Acrylic Resins Market Trends |
6 India Acrylic Resins Market, By Types |
6.1 India Acrylic Resins Market, By Type |
6.1.1 Overview and Analysis |
6.1.2 India Acrylic Resins Market Revenues & Volume, By Type, 2018 - 2031F |
6.1.3 India Acrylic Resins Market Revenues & Volume, By Methacrylates, 2018 - 2031F |
6.1.4 India Acrylic Resins Market Revenues & Volume, By Acrylates, 2018 - 2031F |
6.1.5 India Acrylic Resins Market Revenues & Volume, By Hybrids, 2018 - 2031F |
6.2 India Acrylic Resins Market, By Property |
6.2.1 Overview and Analysis |
6.2.2 India Acrylic Resins Market Revenues & Volume, By Thermoplastic, 2018 - 2031F |
6.2.3 India Acrylic Resins Market Revenues & Volume, By Thermosetting, 2018 - 2031F |
6.3 India Acrylic Resins Market, By Application |
6.3.1 Overview and Analysis |
6.3.2 India Acrylic Resins Market Revenues & Volume, By Paints & Coatings, 2018 - 2031F |
6.3.3 India Acrylic Resins Market Revenues & Volume, By Construction, 2018 - 2031F |
6.3.4 India Acrylic Resins Market Revenues & Volume, By Medical, 2018 - 2031F |
6.3.5 India Acrylic Resins Market Revenues & Volume, By Paper & Paperboard, 2018 - 2031F |
6.3.6 India Acrylic Resins Market Revenues & Volume, By Textiles, 2018 - 2031F |
6.3.7 India Acrylic Resins Market Revenues & Volume, By Fibers & Adhesives, 2018 - 2031F |
7 India Acrylic Resins Market Import-Export Trade Statistics |
7.1 India Acrylic Resins Market Export to Major Countries |
7.2 India Acrylic Resins Market Imports from Major Countries |
8 India Acrylic Resins Market Key Performance Indicators |
9 India Acrylic Resins Market - Opportunity Assessment |
9.1 India Acrylic Resins Market Opportunity Assessment, By Type, 2021 & 2031F |
9.2 India Acrylic Resins Market Opportunity Assessment, By Property, 2021 & 2031F |
9.3 India Acrylic Resins Market Opportunity Assessment, By Application, 2021 & 2031F |
10 India Acrylic Resins Market - Competitive Landscape |
10.1 India Acrylic Resins Market Revenue Share, By Companies, 2024 |
10.2 India Acrylic Resins Market Competitive Benchmarking, By Operating and Technical Parameters |
11 Company Profiles |
12 Recommendations |
13 Disclaimer |