Segmentation by Product Type (Butyl Acrylate, Methyl Acrylate, Ethyl Acrylate, 2 Ethyl Hexyl Acrylate, and Others); by Application (Paints & Coatings, Adhesives & Sealants, Printing Inks, Plastics, and Others); by End User Industry (Automotive, Textiles, Construction, Oil & Gas, and Others) – Global Demand Analysis & Opportunity Outlook 2030
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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:
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.
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
September 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.
In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.
Ans: The major factors driving market growth are increasing demand for water-based acrylate coatings, and growing applications of acrylate monomers in plastic industry.
Ans: The market is anticipated to attain a CAGR of 6.01% over the forecast period, i.e., 2022 – 2030.
Ans: 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.
Ans: The major players in the market are Arkema, Inc., BASF SE, The Dow Company, Eastman Chemical Company, Mitsubishi Corporation, and others.
Ans: 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.
Ans: The market is segmented by product type, application, end user industry, and by region.
Ans: 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.
Ans: Harmful effects of acrylate monomers are estimated to hamper the market growth.
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