The global acrylates market was valued at $10,949.9 million in 2018, and it is projected to reach $12,593.8 million by 2024, progressing at a CAGR of 4.9% during the forecast period (2019-2024). Among all acrylates, butyl acrylate held the largest share in 2018.
Advantages of acrylic emulsions such as short drying time, color fastness, and resistance to fading and wear have led to the growing preference for acrylic emulsions over oil-based formulations. Furthermore, the shift in the acrylates market is driven by government regulations and health concerns, such as neurological and cellular damage, associated with oil-based emulsions.
The global construction sector is witnessing growth, owing to the increasing population and urbanization rate, which are leading to a surge in infrastructure investments for the construction of high-rise buildings and renovation and refurbishment activities. This is raising the demand for acrylate-based paints & coatings, owing to their high durability, stability at extreme temperatures, and zero concentration of volatile organic compounds (VOC), thereby driving the acrylates market.
Butyl acrylate is the fastest in the acrylates market with a CAGR of 5.4% in 2019-24, as the compound acts as a major ingredient for the production of all-acrylic, vinyl acrylic, and styrene acrylic copolymers.
In 2018, paints & coatings constituted the largest application area in the acrylates market. This Was mainly because of the high demand for acrylic formulations in architectural paints & coatings, which are applied to the interior and exterior walls of residential, commercial, and industrial buildings.
In terms of value, APAC is forecast to hold over 70.0% share in the global acrylates market by 2024. This is mainly attributed to the rising demand for acrylic products from the construction and automotive industries, due to the rising population, swift urbanization, and increasing disposable income in China, India, South Korea, and Japan.
China was the largest acrylates market in 2018, owing to the high demand for acrylates in architectural coatings, automotive original equipment manufacturer (OEM) coatings, and special-purpose construction coatings. The country has high-volume integrated manufacturing capabilities, due to low-cost raw material and labor. This, coupled with the high downstream demand, leads to the heavy usage of acrylates in the country.
Advantages of acrylic emulsions such as short drying time, color fastness, and resistance to fading and wear have led to the growing preference for acrylic emulsions over oil-based formulations. Furthermore, the shift in the acrylates market is driven by government regulations and health concerns, such as neurological and cellular damage, associated with oil-based emulsions.
The global construction sector is witnessing growth, owing to the increasing population and urbanization rate, which are leading to a surge in infrastructure investments for the construction of high-rise buildings and renovation and refurbishment activities. This is raising the demand for acrylate-based paints & coatings, owing to their high durability, stability at extreme temperatures, and zero concentration of volatile organic compounds (VOC), thereby driving the acrylates market.
Butyl acrylate is the fastest in the acrylates market with a CAGR of 5.4% in 2019-24, as the compound acts as a major ingredient for the production of all-acrylic, vinyl acrylic, and styrene acrylic copolymers.
In 2018, paints & coatings constituted the largest application area in the acrylates market. This Was mainly because of the high demand for acrylic formulations in architectural paints & coatings, which are applied to the interior and exterior walls of residential, commercial, and industrial buildings.
In terms of value, APAC is forecast to hold over 70.0% share in the global acrylates market by 2024. This is mainly attributed to the rising demand for acrylic products from the construction and automotive industries, due to the rising population, swift urbanization, and increasing disposable income in China, India, South Korea, and Japan.
China was the largest acrylates market in 2018, owing to the high demand for acrylates in architectural coatings, automotive original equipment manufacturer (OEM) coatings, and special-purpose construction coatings. The country has high-volume integrated manufacturing capabilities, due to low-cost raw material and labor. This, coupled with the high downstream demand, leads to the heavy usage of acrylates in the country.
Table of Contents
Chapter 1. Research Background
Chapter 2. Research Methodology
Chapter 4. Introduction
Chapter 5. Global Acrylates Market Size and Forecast
Chapter 6. North America Acrylates Market Size and Forecast
Chapter 7. Europe Acrylates Market Size and Forecast
Chapter 8. APAC Acrylates Market Size and Forecast
Chapter 9. LATAM Acrylates Market Size and Forecast
Chapter 10. MEA Acrylates Market Size and Forecast
Chapter 11. Competitive Landscape
Chapter 12. Company Profiles
Chapter 13. Appendix
List of Tables
List of Figures
Companies Mentioned
- Nippon Shokubai Co. Ltd.
- Shenyang Chemical Co. Ltd.
- Shanghai Huayi Acrylic Acid Co. Ltd.
- National Industrialization Company – TASNEE
- Sasol Limited
- BASF SE
- LG Chem Ltd.
- Arkema Group
- Dow Inc.
- Formosa Petrochemical Corporation
Methodology
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