Hydroxyl acrylic resins are considered one of the vital components of chemical resistant and industrial coatings. These resins are primarily used in chemical coatings, as they offer better resistance properties and have high solid content and low viscosity. Generally, hydroxyl acrylic resins are cured at significantly elevated temperatures. Key properties of hydroxyl acrylic resins include excellent light reflectivity, hardness, storage stability, corrosion resistance, and improved alkali resistance. Other important features of hydroxyl acrylic resins include cost effectiveness, fast air drying and early hardness, VOC compliance, and fast curing response. When cross-linked with melamine or epoxy resin, they provide an excellent barrier to solvents, humidity, salt, acid, oils, impact, abrasion, and wear. Major applications of hydroxyl acrylic resins include car refinish, commercial vehicles, general metal, processing facilities, production facilities, restrooms, kitchens, aircraft hangars, freezers and warehouses
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Rapid expansion in the automobile industry is a key factor driving the global hydroxyl acrylic resins market. These resins are used in automotive OEM and refinishing applications as metallic base coats and pigmented top coats. Increase in demand for these resins in the marine industry is another prominent factor boosting the hydroxyl acrylic resins market. Hydroxyl acrylic resins are used as protective coatings in the marine environment to protect ships, vessels, tankers, and other materials from the surrounding saline water. Rise in demand from the building & construction sector is also augmenting the global hydroxyl acrylic resins market, as these resins are used as components in flame retardant paints in building & construction applications. Hydroxyl acrylic resins are employed as the primary binders in acrylic systems or blended with other resins to improve weather resistance and clarity.
Based on grade, the global hydroxyl acrylic resins market can be segmented into general grade and high performance grade. High performance hydroxyl acrylic resins are preferred for structures that need to be protected in the highly risky environment such as marine and aerospace. In terms of application, the hydroxyl acrylic resins market can be divided into automobiles, aerospace, marine, and building & construction. The automobile segment can be sub-categorized into car refinish and topcoats. Similarly, the building & construction segment can be classified into processing facilities, production facilities, restrooms, kitchens, aircraft hangars, freezers and warehouses
The global hydroxyl acrylic resins market expanded at a moderate pace in 2016. This trend is expected to continue during the forecast period. In terms of geography, the hydroxyl acrylic resins market can be segregated into Asia Pacific, North America, Europe, Middle East & Africa, and Latin America. The hydroxyl acrylic resins market in Asia Pacific is projected to expand at a significant pace owing to the rapid urbanization, advancements in the automobile industry, and infrastructure development in countries such as China, India, and those in the ASEAN sub-region. Demand for hydroxyl acrylic resins in North America and Europe is anticipated to remain high in the near future owing to the rise in demand for these resins in marine and space sectors. Advancement in various technologies is anticipated to boost the hydroxyl acrylic resins market in Europe in the next few years. Rapid industrialization and developmental activities in Middle East & Africa, particularly in the construction sector, are likely to fuel the hydroxyl acrylic resins market in the region. Presence of emerging economies in Latin America and expanding construction and automobile industries are projected to augment the hydroxyl acrylic resins market
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Key players operating in the global hydroxyl acrylic resins market include BASF SE, The Dow Chemical Company, and Arkema Group.