Acrylic Solid Surface Market Size, Share, Growth, and Industry Analysis, By Type (Casting Molding Solid Surface, and Extrusion Molding Solid Surface), By Application (Hospitals, Hotels, Private Households, and Others) and Regional Insights and Forecast to 2031

Updated On: 29 April 2024

ACRYLIC SOLID SURFACE MARKET REPORT OVERVIEW

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The global acrylic solid surface market size was USD 1426.9 million in 2019 and will touch USD 1986.3 million by 2026, exhibiting a CAGR of 5.1% during the forecast period.

Acrylic solid surfaces are nothing but the material used in residential and commercial settings that is made of acrylic resins, polyester resin, or a combination of both that is later combined together with colour pigments, filler, and acrylic chips. It is mainly used in countertops, sinks, shower walls, external cladding for buildings, and furniture where infrequent maintenance is highly appreciated. Also, it can also be routed, sanded and cut like wood. One of the primary criteria while selecting the material is its naturalness in maintenance. Other than that, durability, non-porous surface, and stain resistance are some of the charming qualities of this material. The material is easily reachable in variety of colours, textures, and patterns, making it the customers’ favourite choice.

Because of the rising demand in both commercial and residential spaces, the acrylic solid surface market is expanding. Individuals prefer aesthetic appeal in their settings, and the durability of this material attracts customers. High performance and choice in designs, increases the demand for the product, and also replaces traditional materials such as granite, marble, and laminate. A hygienic atmosphere in the commercial setup always influences the place’s market value. So commercial spaces, including hotels, restaurants, hospitals, and retail shops, embrace the hygienic qualities of this material.

COVID-19 Impact: Market Growth Decreased by the Pandemic due to Supply Chain Disruption

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

People wish the pandemic and lockdown were a never happened because they affected the global economy and changed the lives of people associated with each industry. Compared to many other industries, the acrylic solid surface market is also negatively affected due to several reasons. Disruption in logistics is the major reason for the market's downfall during a pandemic. When the whole world was closed, the growth of the acrylic solid surface market was not possible. As the construction work almost stopped during that period, the requirement for the acrylic solid surface also stopped. Overall, the factors mentioned above were the reason for the slowdown in the market.

LATEST TRENDS

"Customization and Personalization Lead to Market Growth"

People love to add a personal touch to their residential setup. There are lots of references available on the internet. So, people plan and design their personal spaces according to their desires. It applies to both residential and personal spaces. Manufacturers are ready to alter the product according to the needs of their customers. Preference for minimalistic and colourful designs is not something hard about this material. This flexibility in design makes the acrylic solid surface a favourite with customers.

ACRYLIC SOLID SURFACE MARKET SEGMENTATION

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By Type

Based on type the global market can be categorized into Casting Molding Solid Surface, and Extrusion Molding Solid Surface.

• Casting Molding Solid Surface: It is a type formed by pouring a liquid acrylic mixture into molds to form desired shapes.

• Extrusion Molding Solid Surface: This involves pushing molten acrylic material through a die to create continuous shapes to form solid surface sheets or profiles with uniform thickness and texture.

By Application

Based on application the market is classified into Hospitals, Hotels, Private Households, and Others.

• Hospitals: It provides, hygiene, durability, and aesthetic appeal supporting infection control efforts and improving the experience of patients.

• Hotels: It is often used for reception desks, bathroom vanities, and restaurant countertops to enhance the ambiance and give customers a satisfying experience.

• Private Households: Mainly used for kitchen and bathroom due to their seamless appearance, and low maintenance.

DRIVING FACTORS

"Flexibility in Designs Leads to an Increase in Market Demand"

Acrylic solid surfaces are available in an array of designs, shapes, and colors. Its application and possibilities are growing due to its customizable behavior. Acrylic solid surface market growth is mainly influenced by the flexibility of its designs. Individuals prefer this material for its customizable designs. It is available in various shapes, designs, and sizes which makes them customers' favorite. These characteristics of the material attract both residential and commercial customers who are looking for an aesthetic touch to their space.

"Durability of the Product Accelerates Market Growth"

Performance, as well as the durability of the material, is the major factor that drives the market forward. Physical appearances reflect the vibe of that place. It is similar to showing the mirror to the owners of that area. People seek materials that are exceptionally durable, non-porous, and stain-resistant in order to ensure that the beauty of the place won't diminish over a period of time. Commercial spaces such as hotels, restaurants, and hospitals where the customer's behaviour is unpredictable choose this material as it is ideal due to these properties. The reliability of this product is one of the major factors driving the market forward.

RESTRAINING FACTORS

"Environmental Regulation Slows Down the Market Growth"

Compared to other countertop materials, the initial cost of the acrylic solid surface is high. Even though this material is famous for its durability, hygiene, flawless appeal, and stain resistance, the high initial cost sometimes hinders market growth. Despite its highly durable property, the fact that it is not unbreakable is affecting the growth of the market. The possibility of getting affected by excessive heat, sharp objects, and heavy impact and spending on maintenance are affecting the buying decisions of the customers and their choice of competitive products.

ACRYLIC SOLID SURFACE MARKET REGIONAL INSIGHTS

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"Asia Pacific to Dominate the Market due to its Strong Manufacturing Sector"

The market is primarily segregated into Europe, Latin America, Asia Pacific, North America, and Middle East & Africa.

Asia Pacific is dominating the acrylic solid surface market share in comparison with other geographical regions. This is mainly due to the strong manufacturing base in the countries that belong to the region. The large workforce, lower production costs, and well-established manufacturing units fuel market growth. Asia Pacific, particularly China, has been experiencing quick industrialization. As part of the growth of the construction industry, the demand for acrylic solid surfaces is increasing; hence, the market is growing at a high speed in this region. Overall, the demand for additives is high in the region due to various reasons.

KEY INDUSTRY PLAYERS

"Key Industry Players Shaping the Market through Innovation and Market Expansion"

There are multiple players in the market including manufacturers, distributors, and end users. Research institutions and laboratories play an important role in advancement of acrylic technology. From the construction sector, designers and architects are the main stakeholders of this industry.People are particular about the appeal of their space, so the designers and architechs play an important role in the growth of the market. Also, contractors, intallers, and industry association an inevitable part of the sector.

List of Market Players Profiled

• DuPont (U.S.)
• Lion Chemtech (South Korea)
• LG Hausys (South Korea)
• Lottechem(South Korea)
• Hyundai L&C (U.S.)
• DURASEIN (U.S.)
• Wilsonart (U.S.)
• Gelandi (China)
• KingKonree International (China)
• Durlax (India)

INDUSTRIAL DEVELOPMENT

October 2022: Dupont, the US-based company expanded their Corian solid surface ranges with eight new colors. The eight new colors joined the existing 90 in the Corian solid surface range.

REPORT COVERAGE

The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.

The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence the market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated timeframe. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.