Alkyl acrylate is used as high end absorbents and viscosity booster. It is also used as a skin conditioning agents, suspending agents, emulsion stabilizer and binders in household and personal care products. Alkyl acrylate is used in the personal care products which include facial moisturizers, treatment creams, tanning lotions and sun creams among others. Alkyl acrylate is also used in shampoos, hair bleaching and coloring products. Alkyl acrylate can be used in wide range of application particularly, as a pharmaceuticals ingredient, which includes effervescent, oral suspension medicines and chewable tablets. Acrylates in polymer form can be used in surface coatings. Textiles and leather processing industries are major users of Alkyl Acrylate.
Market Size and Forecast
The global Alkyl Acrylate Market was valued around USD 6 Billion in 2016 and is expected to reach around USD 12 Billion by 2027, at a CAGR around 6% during 2017 to 2027. The high demand for acrylate in adhesives and coatings applications is driving the alkyl acrylate market across the globe.
The global alkyl acrylate market can be segmented on the basis of chemical groups, product types, functions, applications and region. Moreover, on the basis of application it is sub-segmented into Personal care products, Coatings, Textiles, Adhesives, Paper manufacture and Pharmaceuticals. Coating sub segment is anticipated to be the fastest moving application of alkyl acrylate during the forecast period. The factors such as changing lifestyles, infrastructural development, growing disposable incomes coupled with increase in renovation and refurbishment activities is expected to drive the growth of coating sub segment in alkyl acrylate market.
By region, global alkyl acrylate market is segmented into North America, Asia-Pacific, Latin America, Europe, Middle East and Africa. North America is expected to be the largest market in the global alkyl acrylate market during the forecast period. This is primarily accredited to the rising demand for cosmetics especially by female population in this region. Growing demand for anti-aging products accompanied by rising disposable income on cosmetic products is anticipated to further drive the demand for alkyl acrylate market in this region. The Asia-Pacific region is the largest and fastest growing market for alkyl acrylate. The growth of acrylate market in this region is supported by various industries such as packaging textiles, construction & FMCG.
Our in-depth analysis segmented the global alkyl acrylate market in the following segments:
By Chemical Groups
By Product Types
Global alkyl acrylate market is further classified on the basis of region as follows:
Growth Drivers and Challenges
The various growth factor associated with global alkyl acrylate market include rapidly evolving consumer lifestyle and rising demand for beauty care and household products. Moreover, rapidly increasing demand for pharmaceuticals is also projected to augment the demand for alky acrylate over the forecast period. The key manufacturers in global alkyl acrylate market are concentrating on developing new inventions that can maintain viscosity consistency at different temperatures. Moreover, major companies have adopted the strategy of focusing on increasing production capacity.
The key restraining factor in the global alkyl acrylate market is the environmental and health hazards.
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