In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.
Request InsightsPurchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively. Request Insights
IN THE NEWSSeptember 2019 – Arkema completed the acquisition of its partner’s stake in Taixing Sunke Chemicals, and has now become the company's sole shareholder.
April 2018 – BASF announced that it has entered into an agreement with Nexeo Solutions to sell and distribute specialty acrylic and methacrylic monomers in the United States and Canada.
Global Acrylate Monomers Market Highlights 2022 – 2030
The global acrylate monomers market is estimated to garner a large amount of revenue and grow at a CAGR of 6.01% over the forecast period, i.e., 2022 – 2030. The growth of the market can be attributed primarily to the increasing demand for water-based acrylate coatings as a result of rise in awareness about the harmful effects of solvent-based coatings on environment. Along with these, growing applications of acrylate monomers in the plastic industry to produce transparent and UV-resistant plastics is also expected to drive market growth in the forthcoming years. Furthermore, rising investments in construction activities is evaluated to raise the demand for high-performance formulations in paints, which in turn is projected to offer profitable opportunities to the market in the near future. It is calculated that the construction sector will grow by more than 4 percent between 2020-2025. Whereas, the growth in construction output was valued at about 3 percent per annum from 2020 to 2030.
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The market is segmented by application into paints & coatings, adhesives & sealants, printing inks, plastics, and others, out of which, the plastics segment is anticipated to hold the largest share in the global acrylate monomers market. This can be accounted to the escalating usage of acrylate plastics as a substitute of glass to increase life, reduce weight and impart high attractiveness. Apart from these, plastic products made from acrylate polymers are tough with excellent resistance to weathering, which is also predicted to boost the growth of the market segment in the future. Additionally, on the basis of product type, the methyl acrylate segment is assessed to occupy the largest share over the forecast period owing to the surging usability of the product in medical and dental applications, such as during hip-replacement procedures.
Major Macro-Economic Indicators Impacting the Market Growth
The chemical industry is a major component of the economy. According to the U.S. Bureau of Economic Analysis, in 2020, for the U.S., the value added by chemical products as a percentage of GDP was around 1.9%. Additionally, according to the World Bank, Chemical industry in the U.S. accounted for 16.43% to manufacturing value-added in 2018. With the growing demand from end-users, the market for chemical products is expected to grow in future. According to UNEP (United Nations Environment Program), the sales of chemicals are projected to almost double from 2017 to 2030. In the current scenario, Asia Pacific is the largest chemical producing and consuming region. China has the world’s largest chemical industry, that accounted for annual sales of approximately more than USD 1.5 trillion, or about more than one-third of global sales, in recent years. Additionally, a vast consumer base and favorable government policies have boosted investment in China’s chemical industry. Easy availability of low-cost raw material & labor as well as government subsidies and relaxed environmental norms have served as a production base for key vendors globally. On the other hand, according to the FICCI (Federation of Indian Chambers of Commerce & Industry), the chemical industry in India was valued at 163 billion in 2019 and it contributed 3.4% to the global chemical industry. It ranks 6th in global chemical production. This statistic shows the lucrative opportunity for the investment in businesses in Asia Pacific countries in the upcoming years.
Global Acrylate Monomers Market Regional Synopsis
On the basis of geographical analysis, the global acrylate monomers market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa region. The market in North America is estimated to witness noteworthy growth over the forecast period on the back of the growing demand for acrylate monomers from the paint & coatings industry, and high production of ethyl acrylate in the region. Moreover, the market in Asia Pacific is projected to grab the largest share during the forecast period, which can be credited to the high usage of the product in construction, automobile and textile industries in the region. In addition, emergence of large middle-class population in China and India who consume acrylate-monomers-based products is also expected to bolster the growth of the market in the region in the coming years. According to the China Power organization, the middle-class population in China was 707 million, i.e., 50.8 percent of the population, in 2018, growing up from 39.1 million in 2000.
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The global acrylate monomers market is further classified on the basis of region as follows:
Market Segmentation
Our in-depth analysis of the global acrylate monomers market includes the following segments:
By Product Type
By Application
By End User Industry
Growth Drivers
Challenges
Top Featured Companies Dominating the Market
FREQUENTLY ASKED QUESTIONS
The major factors driving market growth are increasing demand for water-based acrylate coatings, and growing applications of acrylate monomers in plastic industry.
The market is anticipated to attain a CAGR of 6.01% over the forecast period, i.e., 2022 – 2030.
North America will provide more business opportunities for market growth owing to the growing demand for acrylate monomers from the paint & coatings industry, and high production of ethyl acrylate in the region.
The major players in the market are Arkema, Inc., BASF SE, The Dow Company, Eastman Chemical Company, Mitsubishi Corporation, and others.
The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by product type, application, end user industry, and by region.
The plastics segment is anticipated to hold largest market size and is estimated to grow at a notable CAGR over the forecast period and display significant growth opportunities.
Harmful effects of acrylate monomers are estimated to hamper the market growth.
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