Global Ethyl Acrylate Market - 2023-2030

Global Ethyl Acrylate Market - 2023-2030

Market Overview

The global ethyl acrylate market reached US$ XX million in 2022 and is projected to witness lucrative growth by reaching up to US$ XX million by 2030. The market is growing at a CAGR of 6.41% during the forecast period (2023-2030).

Ethyl acrylate is a significant commercial substance whose characteristics have been thoroughly studied. To reduce exposure to workers and the atmosphere, it is used in closed networks in industrial processes. When the atmosphere is typical, ethyl acrylate is a volatile substance. When the environment is in balance, ethyl acrylate will partition mainly to air (94%), with smaller quantities going to water (5.6%), soil (1%) and sediment (0.1%). One of the main factors driving ethyl acrylate demand is its application in emulsion-based polymers.

Market Dynamics

Increasing demand for ethyl acrylate in surface coating

One of the major application for ethyl acrylate in the world is surface coatings. In order to create different surface coatings, such as acrylic and alkyd resins, which are used to make paints, varnishes and other coatings, ethyl acrylate is utilized as a monomer. Ethyl acrylate is a major component in the creation of these coatings. As a result, there is an increasing demand for them across various end-use industries, including construction, automotive and others. The market for ethyl acrylate in the surface coatings industry is also anticipated to be driven by the growing emphasis on developing eco-friendly and low-VOC coatings.

Health issues associated with ethyl acrylate

The adoption of ethyl acrylate has borne the brunt of controversies regarding health issues associated with its exposure, including headache, convulsions, drowsiness, lethargy, respiratory irritation and gastrointestinal. The risk of cancer is associated with workers' exposure to ethyl acrylate among workers who are occupationally prone to the chemicals. However, some studies are evolving concerning the essentiality of ethyl acrylate and some positive effects it induces in the target applications. The adoption rate of ethyl acrylate is increasing yet at a steady rate.

COVID-19 Impact Analysis

The COVID-19 Analysis includes Pre-COVID Scenario, COVID Scenario and Post-COVID Scenario along with Pricing Dynamics (Including pricing change during and post-pandemic comparing it with pre-COVID scenarios), Demand-Supply Spectrum (Shift in demand and supply owing to trading restrictions, lockdown and subsequent issues), Government Initiatives (Initiatives to revive market, sector or Industry by Government Bodies) and Manufacturers Strategic Initiatives (What manufacturers did to mitigate the COVID issues will be covered here).

Segment Analysis

The global ethyl acrylate market is segmented based on application, end-user and region.

Paints and coating end-user segment dominate the market due to its excellent resistance to weathering, UV radiation and chemicals and growing applications

Ethyl acrylate is used as a raw material in producing acrylic resins, which are widely used in paint and coating applications. Acrylic resins are known for their excellent resistance to weathering, UV radiation and chemicals. They also have good adhesion, flexibility and durability. The properties make them ideal for various paints and coatings, including water-based, solvent-based and powder coatings. The increasing demand for low VOC (volatile organic compounds) paints and coatings drives the ethyl acrylate market. Ethyl acrylate is a key raw material in producing low-VOC paints and coatings, as it is a low-VOC monomer.

Geographical Analysis

The strong presence of major players and consumers in Asia-Pacific

Asia-Pacific is also the largest consumer of ethyl acrylate-based products, such as adhesives, sealants and surface coatings. The growing construction, automotive and packaging industries in the region are driving the demand for these products, which in turn is driving the demand for ethyl acrylate. Further, the countries have many manufacturers of ethyl acrylate due to the availability of low-cost raw materials, skilled labor and government support. It has led to a large number of manufacturers in the region, which contributes to the dominance of the Asia-Pacific in the global ethyl acrylate market.

Competitive Landscape

The major global players in the market include BASF SE, DOW Chemical Company, Evonik Industries, Formosa Plastics Corporation, Merck Millipore, Mitsubishi Chemical Corporation, Nippon Shokubai Co., Ltd Polysciences, Inc, Saudi Acrylic Monomer Company Limited and Synthomer.

Why Purchase the Report?

• To visualize the global ethyl acrylate market segmentation based on application, end-user and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of ethyl acrylate market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.

The global ethyl acrylate market report would provide approximately 53 tables, 50 figures and 186 Pages.

Target Audience 2023

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies