Methyl Acrylate Market Trends

Growth Drivers

• Growing Utilization in the Coating Industry - The need for coatings is fueled by the rapidly developing infrastructure in emerging economies as well as rising investment in the building, transportation, and energy sectors. Coatings based on methyl acrylate are essential for prolonging the service life of infrastructure assets and shielding them from environmental deterioration. Methyl acrylate-based advanced coatings provide improved performance qualities such as weather resistance, UV stability, chemical resistance, scratch resistance, and durability. High-performance coatings that provide durability, protection, and aesthetic appeal are also in greater demand. Manufacturers can meet these needs and maintain their competitiveness in the methyl acrylate market due to advancements in coatings technology driven by methyl acrylate. Furthermore, by modifying the formulation and polymerization process, coatings based on methyl acrylate can be made to match particular performance requirements.
• Growing Shift Towards Sustainability - Demand for environmentally friendly products and growing consumer awareness are driving demand for sustainable adhesives and coatings. Methyl acrylate can be utilized to create solvent-free or water-based coatings, adhesives, and polymers that support environmental objectives. Compared to conventional solvent-based treatments, these formulations decrease environmental impact and lower emissions of volatile organic compounds (VOCs). Additionally, methyl acrylate can be produced using bio-based feedstocks or biomass, which provides an alternative to raw materials obtained from petroleum. For instance, Herma will introduce a novel self-adhesive substance for labels that, in terms of the emission balance sheet, temporarily binds more CO2 than is emitted for its manufacturing.
• Growing Demand in Water Treatment Industry - Rapid industrialization, urbanization, and population growth in developing regions lead to increased demand for water treatment solutions to address water pollution and scarcity issues. For instance, 56% of domestic wastewater flows were safely treated worldwide in 2020, according to data extrapolated from 128 nations, which account for 80% of the world's population. Methyl acrylate-based polymers, such as polyacrylamide and its derivatives, are widely used as coagulants and flocculants in water treatment processes. Also, as water scarcity becomes a growing concern globally, there is an increasing emphasis on treated wastewater reuse for non-potable purposes such as irrigation processes, and environmental restoration.

Challenges

• Strict Regulations by the Government - Limits on volatile organic compound (VOC) emissions from industrial activities, such as the manufacturing and use of products containing methyl acrylate, are frequently enforced by government rules designed to mitigate air pollution and safeguard public health. Businesses may have trouble complying with regulations and incur extra expenses because of VOC emission controls and abatement technology. Therefore, the release of harmful gases by methyl acrylate may impede its methyl acrylate market growth.
• Fluctuating Prices of Raw Materials may Hinder Market Growth
• Growing Intense Competition from Alternatives may Hamper Methyl Acrylate Market Growth