Apr 8, 2020   SOURCE: BusinessWire

Global Acrylates Market Research Report (2018 to 2024) - Industry Size, Share, Trends and Growth Forecast - ResearchAndMarkets.com

The "Acrylates Market Research Report: By Type, Application - Industry Size, Share, Trends and Growth Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.

The global acrylates market was valued at $10,949.9 million in 2018, and it is projected to reach $12,593.8 million by 2024, progressing at a CAGR of 4.9% during the forecast period (2019-2024). Among all acrylates, butyl acrylate held the largest share in 2018.

Advantages of acrylic emulsions such as short drying time, color fastness, and resistance to fading and wear have led to the growing preference for acrylic emulsions over oil-based formulations. Furthermore, the shift in the acrylates market is driven by government regulations and health concerns, such as neurological and cellular damage, associated with oil-based emulsions.

The global construction sector is witnessing growth, owing to the increasing population and urbanization rate, which are leading to a surge in infrastructure investments for the construction of high-rise buildings and renovation and refurbishment activities. This is raising the demand for acrylate-based paints & coatings, owing to their high durability, stability at extreme temperatures, and zero concentration of volatile organic compounds (VOC), thereby driving the acrylates market.

Butyl acrylate is the fastest in the acrylates market with a CAGR of 5.4% in 2019-24, as the compound acts as a major ingredient for the production of all-acrylic, vinyl acrylic, and styrene acrylic copolymers.

In 2018, paints & coatings constituted the largest application area in the acrylates market. This Was mainly because of the high demand for acrylic formulations in architectural paints & coatings, which are applied to the interior and exterior walls of residential, commercial, and industrial buildings.

In terms of value, APAC is forecast to hold over 70.0% share in the global acrylates market by 2024. This is mainly attributed to the rising demand for acrylic products from the construction and automotive industries, due to the rising population, swift urbanization, and increasing disposable income in China, India, South Korea, and Japan.

China was the largest acrylates market in 2018, owing to the high demand for acrylates in architectural coatings, automotive original equipment manufacturer (OEM) coatings, and special-purpose construction coatings. The country has high-volume integrated manufacturing capabilities, due to low-cost raw material and labor. This, coupled with the high downstream demand, leads to the heavy usage of acrylates in the country.

Companies Mentioned

  • Nippon Shokubai Co. Ltd.
  • Shenyang Chemical Co. Ltd.
  • Shanghai Huayi Acrylic Acid Co. Ltd.
  • National Industrialization Company - TASNEE
  • Sasol Limited
  • BASF SE
  • LG Chem Ltd.
  • Arkema Group
  • Dow Inc.
  • Formosa Petrochemical Corporation

Key Topics Covered:

1. Research Background

1.1 Research Objectives

1.2 Market Definition

1.3 Research Scope

1.3.1 Market Segmentation by Type

1.3.2 Market Segmentation by Application

1.3.3 Market Segmentation by Region

1.3.4 Analysis Period

1.3.5 Market Data Reporting Unit

1.3.5.1 Value

1.3.5.2 Volume

1.4 Key Stakeholders

2. Research Methodology

2.1 Secondary Research

2.2 Primary Research

2.2.1 Breakdown of Primary Research Respondents

2.2.1.1 By region

2.2.1.2 By industry participant

2.2.1.3 By company type

2.3 Market Size Estimation

2.4 Data Triangulation

2.5 Assumptions for the Study

3. Executive Summary

4. Introduction

4.1 Definition of Market Segments

4.1.1 By Type

4.1.1.1 Butyl acrylate

4.1.1.2 2-Ethylhexyl acrylate

4.1.1.3 Ethyl acrylate

4.1.1.4 Methyl acrylate

4.1.2 By Application

4.1.2.1 Paints & coatings

4.1.2.2 Adhesives & sealants

4.1.2.3 Textile chemicals

4.1.2.4 Acrylic fibers

4.1.2.5 Leather chemicals

4.1.2.6 Others

4.2 Value Chain Analysis

4.3 Production Process

4.3.1 Butyl Acrylate

4.3.2 2-Ethylhexyl Acrylate

4.3.3 Ethyl Acrylate

4.3.4 Methyl Acrylate

4.4 Market Dynamics

4.4.1 Trends

4.4.1.1 Shifting consumer preference toward acrylic emulsions

4.4.2 Drivers

4.4.2.1 Growing demand for paints & coatings in the construction industry

4.4.2.2 Increasing demand for acrylic esters in adhesives & sealants

4.4.2.3 Impact analysis of drivers on market forecast

4.4.3 Restraints

4.4.3.1 Volatility in raw material prices

4.4.3.2 Impact analysis of restraints on market forecast

4.4.4 Opportunities

4.4.4.1 Large-scale adoption of bio-based acrylates

4.5 Price Analysis

5. Global Acrylates Market Size and Forecast

5.1 By Type

5.2 By Application

5.3 By Region

6. North America Acrylates Market Size and Forecast

7. Europe Acrylates Market Size and Forecast

8. APAC Acrylates Market Size and Forecast

9. LATAM Acrylates Market Size and Forecast

10. MEA Acrylates Market Size and Forecast

11. Competitive Landscape

11.1 Market Share Analysis of Key Players

11.2 Competitive Benchmarking of Key Players

11.3 List of Other Players

11.4 Strategic Developments of Key Players

11.4.1 Joint Ventures

11.4.2 Capacity Expansion

12. Company Profiles

13. Appendix

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