Acrylate Market Size, Share, Industry Trends and Forecast to 2030

Acrylate Market Size & CAGR

The global acrylate market size was valued at USD 12.4 billion in 2023, with a Compound Annual Growth Rate (CAGR) of 5.8% during the forecast period from 2023 to 2030. The market is expected to reach USD 18.6 billion by 2030, driven by the increasing demand for acrylate-based products in various end-use industries such as automotive, construction, and electronics.

COVID-19 Impact on the Acrylate Market

The COVID-19 pandemic had a significant impact on the acrylate market, causing disruptions in the supply chain and affecting the demand for acrylate-based products. Lockdown measures and restrictions on movement led to a slowdown in construction activities and reduced consumer spending, impacting the overall market growth. However, as the global economy recovers, the acrylate market is expected to witness a gradual rebound in demand.

Acrylate Market Dynamics

The acrylate market is driven by factors such as growing urbanization, increasing disposable income, and rising investments in infrastructure development. The demand for acrylate-based products is further fueled by advancements in technology and the shift towards sustainable solutions. However, challenges such as volatility in raw material prices and environmental concerns regarding the use of acrylates pose a threat to market growth.

Segments and Related Analysis of the Acrylate Market

The acrylate market is segmented based on type, application, end-use industry, and region. By type, the market is further categorized into methyl acrylate, ethyl acrylate, butyl acrylate, and others. In terms of application, the market includes adhesives, coatings, sealants, textiles, and others. The end-use industries for acrylate products include automotive, construction, electronics, packaging, and others.

Acrylate Market Analysis Report by Region

Asia Pacific Acrylate Market Report

The Asia Pacific region dominates the acrylate market, driven by rapid industrialization, urbanization, and infrastructure development. Countries like China, Japan, and India are key contributors to market growth in the region. The increasing demand for acrylic-based products in the automotive, construction, and electronics industries is propelling market expansion in Asia Pacific.

South America Acrylate Market Report

South America is witnessing steady growth in the acrylate market, fueled by the growing construction and automotive sectors in countries like Brazil and Argentina. The increasing investments in infrastructure projects and the rising demand for acrylic coatings and adhesives are driving market growth in the region.

North America Acrylate Market Report

North America holds a significant share in the acrylate market, with the United States being a key market player. The demand for acrylate-based products in applications such as paints, adhesives, and textiles is driving market growth in the region. Technological advancements and innovations in acrylic formulations are further boosting market expansion in North America.

Europe Acrylate Market Report

Europe is a mature market for acrylates, with countries like Germany, the UK, and France leading in market share. The presence of established players in the region and the growing demand for eco-friendly acrylic products are propelling market growth. Strict regulations regarding VOC emissions and environmental sustainability are influencing market trends in Europe.

Middle East and Africa Acrylate Market Report

The Middle East and Africa region are witnessing moderate growth in the acrylate market, driven by increasing investments in construction and infrastructure projects. Countries like Saudi Arabia and the UAE are key markets for acrylic-based products, with a rising demand for coatings, sealants, and adhesives. However, political instability and economic challenges present hurdles to market growth in the region.

Acrylate Market Analysis Report by Technology

The acrylate market is segmented based on technology, including solution polymerization, emulsion polymerization, bulk polymerization, and others. Each technology offers unique advantages in terms of product quality, process efficiency, and cost-effectiveness. Solution polymerization is the most widely used technology for manufacturing acrylic-based products due to its versatility and scalability.

Acrylate Market Analysis Report by Product

The acrylate market includes a wide range of products such as methyl acrylate, ethyl acrylate, butyl acrylate, 2-ethylhexyl acrylate, and others. Each product has specific applications in various end-use industries, including adhesives, coatings, textiles, sealants, and others. The demand for acrylic products is driven by their high performance, versatility, and compatibility with different substrates.

Acrylate Market Analysis Report by Application

The applications of acrylates include adhesives, coatings, sealants, textiles, and others. Acrylic-based adhesives are widely used in the automotive and construction industries for bonding various substrates. Acrylic coatings offer excellent weather resistance and durability, making them suitable for architectural and industrial applications. Acrylate sealants provide superior adhesion and flexibility, ideal for sealing joints and surfaces.

Acrylate Market Analysis Report by End-User

The end-users of acrylate products include automotive, construction, electronics, packaging, and others. The automotive industry utilizes acrylic coatings and adhesives for vehicle assembly and refinishing. The construction sector relies on acrylic sealants and adhesives for building and infrastructure projects. The electronics industry uses acrylic-based products for circuit board assembly and electronic component encapsulation.

Key Growth Drivers and Key Market Players of Acrylate Market

Key growth drivers in the acrylate market include increasing demand for eco-friendly products, technological advancements in acrylic formulations, and growth in end-use industries. Key market players in the acrylate market include:

• BASF SE
• The Dow Chemical Company
• SUMITOMO Chemical Co., Ltd.
• Arkema Group
• SIBUR International GmbH

Acrylate Market Trends and Future Forecast

The acrylate market is witnessing trends such as the shift towards bio-based acrylates, increasing focus on sustainable solutions, and advancements in acrylic technologies. The future forecast for the acrylate market remains positive, with growth opportunities in emerging markets and expanding applications in various industries.

Recent Happenings in the Acrylate Market

Recent developments in the acrylate market include:

• BASF SE launched a new range of eco-friendly acrylic products for the construction industry.
• The Dow Chemical Company announced a strategic partnership with a leading packaging company to develop innovative acrylic packaging solutions.
• Arkema Group introduced a new line of bio-based acrylate products to meet the growing demand for sustainable coatings and adhesives.
• SUMITOMO Chemical Co., Ltd. expanded its production capacity for butyl acrylate to cater to the rising demand in the automotive sector.