Acrylates

Acrylates

Global Acrylates Market to Reach US$15.8 Billion by 2030

The global market for Acrylates estimated at US$11.2 Billion in the year 2023, is expected to reach US$15.8 Billion by 2030, growing at a CAGR of 5.0% over the analysis period 2023-2030. Butyl Acrylate, one of the segments analyzed in the report, is expected to record a 5.4% CAGR and reach US$6.3 Billion by the end of the analysis period. Growth in the Ethyl Acrylate segment is estimated at 4.6% CAGR over the analysis period.

The U.S. Market is Estimated at US$3.0 Billion While China is Forecast to Grow at 7.6% CAGR

The Acrylates market in the U.S. is estimated at US$3.0 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$3.5 Billion by the year 2030 trailing a CAGR of 7.6% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 2.5% and 4.6% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 2.8% CAGR.

Global Acrylates Market - Key Trends and Drivers Summarized

Why Are Acrylates Critical in Modern Manufacturing?

Acrylates, a family of compounds derived from acrylic acid, play a pivotal role in modern manufacturing due to their versatile properties and wide range of applications. These compounds are known for their excellent adhesion, transparency, flexibility, and resistance to weathering, making them indispensable in various industries. Acrylates are extensively used in the production of paints and coatings, adhesives, sealants, and superabsorbent polymers. Their ability to form durable films and provide a glossy finish makes them ideal for protective coatings in the automotive and construction sectors. Moreover, acrylates are a key component in the formulation of pressure-sensitive adhesives used in labels, tapes, and medical dressings. The unique properties of acrylates, such as their quick curing time and strong bonding capabilities, ensure that they remain a crucial material in the development of high-performance products.

How Are Technological Innovations Shaping the Acrylates Market?

Technological innovations are significantly enhancing the capabilities and applications of acrylates, driving their adoption across various sectors. Advances in polymer science have led to the development of new acrylate formulations with improved performance characteristics, such as higher thermal stability and enhanced mechanical strength. Innovations in UV-curable acrylates have revolutionized the coatings industry, providing faster curing times and reducing energy consumption during the curing process. Additionally, the development of bio-based acrylates from renewable resources is gaining traction as industries strive to reduce their environmental footprint and comply with stringent sustainability standards. These bio-based acrylates offer similar performance to their petroleum-based counterparts while contributing to a more sustainable supply chain. Furthermore, the integration of nanotechnology in acrylate formulations is opening new avenues for high-performance coatings and adhesives with enhanced durability and resistance to wear and tear.

What Trends Are Driving the Demand for Acrylates?

Several key trends are driving the demand for acrylates, reflecting the evolving needs of various industries and consumer preferences. The growing automotive industry, with its emphasis on high-performance coatings that provide superior protection and aesthetic appeal, is a major driver of acrylate demand. In the construction sector, the expansion of infrastructure projects is spurring the need for durable and weather-resistant acrylate-based sealants and coatings. The personal care industry is also witnessing increased use of acrylates in formulations of products like nail polishes and hair sprays, where their quick-drying properties and strong adhesion are highly valued. Additionally, the rising trend of sustainability is driving the adoption of eco-friendly, low-VOC (volatile organic compound) acrylates in paints and coatings, aligning with regulatory requirements and consumer preferences for greener products. The packaging industry, too, is leveraging acrylates for their excellent adhesive properties in labels and flexible packaging solutions, enhancing the durability and functionality of packaging materials.

What Factors Are Driving Growth in the Acrylates Market?

The growth in the acrylates market is driven by several factors encompassing technological advancements, industry-specific demands, and evolving consumer preferences. One of the primary drivers is the increasing demand for high-performance adhesives and coatings in the automotive and construction industries, where acrylates provide superior durability and aesthetic appeal. Technological advancements, particularly in the development of UV-curable and bio-based acrylates, are expanding the application scope and driving market growth. The rising emphasis on sustainability and the need to comply with environmental regulations are propelling the adoption of low-VOC and eco-friendly acrylate formulations. In the personal care and packaging industries, the growing consumer preference for high-quality and durable products is fueling demand for acrylates that offer excellent adhesion and quick curing properties. Additionally, the expansion of infrastructure projects and the rising investments in research and development for advanced acrylate formulations are further accelerating market growth. These factors collectively contribute to the robust growth trajectory of the acrylates market, making it a cornerstone of modern manufacturing.

Select Competitors (Total 38 Featured) -

• Air Liquide SA
• Arkema
• BASF SE
• Dow, Inc.
• DuPont de Nemours, Inc.
• Evonik Industries AG
• Formosa Plastics Corporation
• Jiangsu Jurong Chemical Co., Ltd.
• LG Chem
• Loba Chemie Pvt.Ltd
• Merck KgaA
• Mitsubishi Chemical Corporation
• Nippon Shokubai Co., Ltd.
• Polysciences, Inc.
• Sahara PCC
• Sasol Ltd.
• Shanghai Huayi Acrylic Acid Co., Ltd.
• Shanghai Lang Chemical Co., Ltd
• Shenyang Chemical Co Ltd
• SIBUR Holding
• Synthomer Plc
• Taixing Jurong Chemical Co., Ltd.
• TCI America
• Toagosei Co., Ltd.
• Wanhua Chemical Group Co., Ltd
• Zhejiang Satellite Petrochemical Co., Ltd.

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