Impact of COVID-19 on Acrylic Emulsions Market : Implications on Business
A copious number of regional as well as locally prominent players account for the intense competition in the global acrylic emulsions market, notes Transparency Market Research (TMR). However, the market is largely organized one with a handful of global players, leading to low bargaining power resting with buyers and suppliers. This is attributed to the threat of forward integration along with no noticeable gap in raw material demand and supply.
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Companies exhibiting a prominent presence in the market include The Dow Chemical Company, The Lubrizol Corporation, DIC Corporation, Celanese Corporation, Ashland Inc., Synthomer Plc., H.B. Fuller, Clariant, BASF SE, and Arkema S.A. A growing number of leading players are focusing on product launches and entering into mergers and acquisitions, in a move to maintain a stronghold in the market, finds TMR. Several top players are keen on expanding their presence to new geographic areas in order to consolidate their shares.
According to TMR, the global acrylic emulsions market was worth US$5,915.9 million in 2017 and is anticipated to touch a valuation of US$8,792.6 million by 2022 end. The market is projected to rise at a healthy CAGR of 8.2% from 2017 to 2022.
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Geographically, Asia Pacific except Japan (APEJ), is projected to present substantial attractive opportunities over the forecast period. The region accounted for the leading share in 2017 and is likely to retain its dominance in the coming years as well. The APEJ market is estimated to gain 81 basis point in its share during 2017–2022.
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