Acrylate Monomers Market Insights, Size & Forecast To 2023-2035

Global Acrylate Monomers Market Size, Forecast, and Trend Highlights Over 2023 – 2035

The global acrylate monomers market size is estimated to reach ~USD 15 Billion by the end of 2035 by growing at a CAGR of ~6% over the forecast period, i.e., 2023 – 2035. In addition to this, in the year 2022, the market size of acrylate monomers was ~USD 7 Billion. The growth of the market can be attributed to the increasing demand for acrylate monomers in the production of cosmetics, rubber, and other industrial applications owing to their low cost, high solubility and adhesion, and high durability. Moreover, the rapid growth of the art and painting sector is increasing the demand for acrylic varnishes. A total of 37 million transactions have been conducted in the art industry in 2021, with a total sales volume of 5 million in the sector for that year, which is an increase of 18% over 2020. Acrylic varnishes are an increasingly popular choice for paintings as they can provide better protection against environmental elements, such as moisture and dust. Acrylic monomers are used to make acrylic varnishes as they allow for the creation of a durable and glossy finish that can protect surfaces from damage while still maintaining its attractive appearance.

In addition to these, factors that are believed to fuel the market growth of acrylate monomers include the growing use of acrylate monomers in the production of polymers and other functional materials. There is a rising production of polymers across the world creating lucrative opportunities for acrylate monomers. The Indian polymer industry produced more than 13 million metric tons of polymers in the fiscal year 2021. It is estimated that the chemical sector in India produces more than 80 thousand products, representing a highly diversified industry. Polymers are made of monomers, and acrylates are a type of monomer used in the production of many polymers. With the rise in polymer production, there is an increasing demand for acrylate monomers, creating lucrative opportunities. Acrylate monomers are used in the production of many different types of polymer products, such as adhesives, coatings, and insulation.

Global Acrylate Monomers Market: Growth Drivers and Challenges

Growth Drivers

Rise in The Number of Infrastructure and Construction Activities - The value of the construction projects undertaken in the US in 2021 is estimated at approximately USD 1.5 trillion. Additionally, 1,335,000 housing units were constructed in 2021, a 5% increase over 2020. Acrylate monomers are used to create polymers, which are then used in various construction activities, such as waterproofing and insulation. As a result, the demand for acrylate Monomers is expected to increase, as more and more construction activities require these polymers. In addition, Acrylate Monomers are also used in manufacturing paints, sealants and adhesives, which are further used in the construction and infrastructure industries.
Increasing Water Treatment Infrastructure - A global extrapolation of data from 128 countries representing 80% of the world's population in 2020 indicated that 56% of household wastewater flows were safely treated in 2020. Polyethylene and methylacrylate are used in a variety of applications in the water treatment process, such as in filtration and disinfection systems.
Rapid Urbanization and Population Growth- Urbanization and population growth lead to an increase in demand for goods, services, and housing. This, in turn, gives rise to an increase in demand for acrylate monomers, which are used in a wide range of industries, such as construction, transportation, and healthcare. A World Health Organization survey shows that approximately 56% of the world's population, 4.4 billion people, live in cities today, according to the World Health Organization.
An Increase in The Number of Dental Fillings Procedures- An estimated 84% of dentate adults living in the UK (those with a filling on at least one tooth) have at least one filling. According to statistics, 7.2 out of every 100 teeth have fillings. Liquid monomer polymerized in situ is a type of dental filling that uses acrylate monomers to create a strong bond between the tooth and the filling material. This allows for a more permanent bond than traditional dental fillings, leading to increased demand for acrylate monomers.
Rise in Production of Vehicles and Automotive Products- China's auto industry was reported to have increased its production by roughly 2.1% in 2022 in comparison with the previous year according to the China Association of Automobile Manufacturers (CAAM). Approximately 26.86 million cars were sold in 2022, an increase from 26.27 million cars sold in 2021. Acrylate Monomers are used as coatings, adhesives and sealants for cars, buses and trucks. They provide superior resistance to chemicals, extreme temperatures and abrasion, making them ideal for vehicles that are exposed to harsh environments.

Challenges

The emergence of substitutes - Substitutes such as ethylene, propylene and styrene offer similar properties to acrylate monomers but at a lower cost, making them a more attractive option for many buyers. As a result, demand for acrylate monomers is decreasing, and this is having a negative impact on the growth of the market.
High cost of raw materials
Stringent government regulations

Global Acrylate Monomers Market Segmentation

The global acrylate monomers market is segmented and analyzed for demand and supply by product type into butyl acrylate, methyl acrylate, ethyl acrylate, 2 ethyl hexyl acrylate, and others. Out of these, the methyl acrylate segment is estimated to gain the largest market share of about ~30% in the year 2035. The growth of the segment can be attributed to the methyl acrylate's versatile properties, such as its low-cost production, low water solubility, and low toxicity, make it widely used in the production of a variety of products, such as coatings, adhesives, and plastics. In addition, increasing demand for medical equipment from healthcare settings owing to the rising awareness of health and safety among the population, and an increased focus on preventive healthcare is projected to drive segment growth. Today, according to WHO estimates, there are approximately 2 million different types of medical devices on the world market, which can be classified into more than 7000 generic device groups that are available on the market. Methacrylate polymers are incredibly versatile and durable materials, making them ideal for medical equipment, as they can withstand the harsh sterilization processes that medical equipment must go through, and the polymers are also biocompatible, meaning they won't cause any adverse reactions in the body when used in contact with human tissue.

The global acrylate monomers market is segmented and analyzed for demand and supply by application into paints & coatings, adhesives & sealants, printing inks, plastics, and others. Out of these, the plastics segment is estimated to gain a significant market share of about ~25% in the year 2035. The growth of the segment can be attributed to the increasing demand for plastics in numerous consumer and industrial applications, such as packaging, automotive, construction, and consumer goods, is driving the growth of the segment. The consumption of plastic has tripled in the past 30 years as a result of the growth of emerging markets. A total of 460 million tonnes of plastic were produced globally between 2000 and 2019. Acrylate monomer plastics are also known for their low permeability to air and water vapor, making them an ideal material for products such as window panes, lenses, and protective coatings. Additionally, due to their light weight, they are frequently used in the automotive and aerospace industries. Furthermore, advancements in the production process and the introduction of biodegradable plastics are expected to further bolster the segment's growth over the forecast period.

Our in-depth analysis of the global acrylate monomers market includes the following segments:

By Product Type	Butyl Acrylate Methyl Acrylate Ethyl Acrylate 2 Ethyl Hexyl Acrylate Others
By Application	Paints & Coatings Adhesives & Sealants Printing Inks Plastics Others
By End User	Automotive Textiles Construction Oil & Gas Others

Global Acrylate Monomers Market Regional Synopsis

The market share of acrylate monomers in Asia Pacific, among the market in all the other regions, is projected to be the largest with a share of about ~37% by the end of 2035. The growth of the market can be attributed majorly to the increasing demand for acrylate monomers in end-use industries such as paints and coatings, adhesives, textiles, and paper and board industries. The construction industry in India and China is booming owing to government initiatives and foreign investments. The construction industry is a major consumer of acrylate monomers, which are essential components of building materials such as sealants and paints. The Japan Ministry of Land, Infrastructure, Transport and Tourism estimates that construction investments in the year 2022 reached USD 508 billion, representing an increase of 0.6% over last year. The PMAY-U Technology Sub-Mission identified 54 global innovations in construction technology to initiate a new era in the Indian construction technology sector. Acrylate monomers are used in construction materials such as insulation and concrete repair because they are highly durable and provide excellent adhesion to a variety of surfaces. They are also resistant to water and UV radiation, making them ideal for outdoor applications. Therefore, increasing investment in the construction industry is expected to result in increased demand for acrylate monomers, stimulating the market growth.

The North America acrylate monomers market is estimated to be the second largest, registering a share of about ~25% by the end of 2035. The growth of the market can be attributed majorly to the rising demand for consumer goods such as paints and coatings, adhesives, and plastics that use acrylate monomers as raw materials. Additionally, the growing use of acrylate monomers in the manufacture of specialty polymers and copolymers for various applications, such as medical and automotive, is likely to further propel market growth in the region. In addition, the growing number of hip replacement surgeries is expected to increase demand for acrylate monomers. As of 2021, the report covered over 2.2 million hip and knee surgeries performed across all fifty states and the District of Columbia, with over 1,150 hospitals, ambulatory surgery centers (ASCs), and private practice groups participating in the study. Acrylate monomers are used in the production of biomedical devices such as hip replacements, and with the increasing number of hip replacement procedures being performed, the demand for acrylate monomers is expected to grow significantly.

Further, the acrylate monomers market in Europe, among the market in all the other regions, is projected to hold a majority of the share by the end of 2035. The growth of the market can be attributed to the increasing demand for polyacrylate polymers and their derivatives. These polymers have a wide range of applications in the automotive, construction and healthcare industries, among others. Additionally, the growing demand for water-based coatings, adhesives and sealants, as well as the rising demand for paints and coatings, is aiding in the growth of the European acrylate monomers market. Furthermore, the increasing number of infrastructure projects in the region, such as bridges, roads, and tunnels, are leading to the rising demand for water-based coatings, which are derived from acrylate monomers.

Get more information on this report: Request Free Sample PDF

Top Featured Companies Dominating the Global Acrylate Monomers Market

Arkema, Inc.
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis

BASF SE
The Dow Company
Eastman Chemical Company
Mitsubishi Corporation
Estron Chemical Inc.
Evonik Industries AG
Sumitomo Chemical Co., Ltd.
LG Chem Ltd.
Kuraray Co., Ltd

In The News

With the strategic distribution collaboration between Vimal Intertrade and Nordmann in India, Evonik Industries AG will be able to respond faster and be more flexible in supporting evolving market needs.
Methyl acrylate production has been increased in the US Gulf Coast by Dow Chemical Company to improve access to raw materials and reliability. St. Charles Operations in Louisiana, USA, will produce 50-kiloton capacity of methyl acrylate to meet the growing demand in North America.

Global Economic Impact

Request Insights

Despite Inflation & Fearing Recession, Businesses Across the Globe Expected to Do Better in 2023:

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.

Key Questions Answered in the Report

1) What are the major factors driving the growth of the acrylate monomers market market?

Ans: The increasing demand from the adhesives and sealants industry, the growing automotive industry, and the increasing demand for paints and coatings are some of the major factors driving the growth of the acrylate monomers market.

2) What would be the CAGR of acrylate monomers market market over the forecast period?

Ans: The market size of acrylate monomers is anticipated to attain a CAGR of ~6% over the forecast period, i.e., 2023 – 2035.

3) What are the challenges affecting the acrylate monomers market market growth?

Ans: The high cost of raw materials, stringent government regulations, and the emergence of substitutes are believed to be the major factors that are hindering the growth of the acrylate monomers market.

4) Which region will provide more business opportunities for growth of acrylate monomers market market in future?

Ans: The market in the Asia Pacific region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.

5) Who are the major players dominating the acrylate monomers market market?

Ans: The major players in the market are Arkema, Inc., BASF SE, The Dow Company, Eastman Chemical Company, Mitsubishi Corporation, and others.

6) How are the company profiles selected?

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.

7) What are the segments in the acrylate monomers market?

Ans: The market is segmented by type, application, end user, and by region.

8) Which segment captures the largest market size in the product type segment in the acrylate monomers market?

Ans: The methylacrylate segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.

Base Year	2022
Forecast Year	2023-2035
CAGR	~6%
Base Year Market Size (2022)	~ USD 7 Billion
Forecast Year Market Size (2035)	~ USD 15 Billion
Regional Scope	North America (U.S., and Canada) Latin America (Mexico, Argentina, Rest of Latin America) Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific) Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe) Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)