Acrylate Market - By Product Type (Methyl Acrylate, Ethyl Acrylate, Butyl Acrylate, 2-Ethylhexyl Acrylate), By Grade, By Application (Adhesives & Sealants, Paints & Coatings, Textiles, Plastics, Paper & Paperboard, Personal Care Products), By End Use & Fo

Acrylate Market - By Product Type (Methyl Acrylate, Ethyl Acrylate, Butyl Acrylate, 2-Ethylhexyl Acrylate), By Grade, By Application (Adhesives & Sealants, Paints & Coatings, Textiles, Plastics, Paper & Paperboard, Personal Care Products), By End Use & Forecast, 2023 - 2032

Acrylate Market size is estimated to record over 6% CAGR from 2023 to 2032, driven by the ongoing R&D efforts to facilitate innovations and enhance formulations for extended application scope.

Lately, researchers are working on improving the performance characteristics of acrylates, such as adhesion, durability, and flexibility, making them suitable for wide range of industries. These innovations are resulting in eco-friendly and sustainable acrylate solutions that align with environmental regulations and consumer preferences. For instance, in September 2023, BASF added 2-Octyl Acrylate (2-OA) to its expanding collection of 14C bio-based monomers through unique techniques. Furthermore, the increasing consumer awareness of product quality and eco-friendliness will drive the market growth.

The acrylate market is segmented into product type, grade, application, end-use, and region.

With regard to product type, the butyl acrylate market is estimated to gain significant traction from 2023 to 2032 owing to its widespread usage in the production of adhesives, sealants, coatings, and textiles. On account of their excellent properties, including adhesion, durability, and water resistance, butyl acrylate has emerged as a preferred choice for various industrial applications. Additionally, the increasing focus on sustainable and environmentally friendly products along with the rising number of R&D activities for eco-friendly formulations will propel the segment growth.

Acrylate market from the personal care products application segment accounted for considerable revenue share in 2022 and is projected to expand at notable CAGR from 2023-2032. Acrylates, such as acrylic polymers, find extensive adoption in the formulation of personal care and cosmetic products, including skincare, haircare, and nail products. The demand for premium and specialized personal care products is also significantly surging worldwide. Moreover, the surging awareness amongst consumers about the importance of quality skincare and grooming products will favor the market expansion.

In terms of the regional landscape, Asia Pacific held sizable revenue share of the global acrylate market in 2022 and is estimated to grow substantially from 2023 to 2032. The burgeoning industrial and construction sectors are driving the need for acrylate-based products, including adhesives, coatings, and sealants. Additionally, the automotive manufacturing sector across major countries such as China, India, and Japan is witnessing robust growth. In 2022, India overtook Japan as the world's third-biggest light vehicle market, owing to the robust rebound in demand for personal mobility and last-mile deliveries following the pandemic, further leading to the popularity of acrylate-based paints and finishes. The rising rate of urbanization and higher disposable income levels will also prove beneficial for the regional market growth.