The global Acrylic Monomers Market is forecast to reach USD 12.23 Billion by 2027, according to a new report by Reports and Data. The rising demand for methacrylate monomers across various industries, coupled with the need for durable paints and coatings, will boost the growth of the market. The application of methacrylate-based monomers as coatings is used in various industries such as architecture, automotive, and other industries will encourage the growth of the market.
Increasing the production of automotive and the demand for long-lasting products are the driving factors for the growth of the market. In terms of application, perhaps the most prevalent use of acrylic monomer is in automotive seals and gaskets owing to the increasing need for oil-resistant rubber materials. The growing need for lower fuel consumption and rising combustion temperature in the engine compartment also has a positive impact on the market.
The driving forces for growth are rising demand for superabsorbent polymers, widespread acceptance of acrylic-based products in developing nations like the Asia Pacific, and increasing industrial sectors such as adhesives and sealants. Industries are designing and selling petrochemical technologies for manufacturing it. Instead of globally growing oil prices, producers use bio-based methods to generate this unsaturated carboxylic acid and acrylates from natural materials such as glycerol, sugar, and other things. Renewable feedstock provides favorable cost outcomes for competing with petrochemical routes.
Key participants include New Japan Chemical Co Ltd., BASF SE, The Dow Chemical Company, Hitachi Chemical Co. Ltd, Evonik Industries AG, Kuraray Co. Ltd, Arkema Group, Nippon Shokubai Co. Ltd, KH Chemicals, and Mitsubishi Chemical Corporation, among others.
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The COVID-19 impact:
Demand around the organic chemicals sector will register a slump in development, although the need for certain chemicals that find end-user implementations in healthcare and food is rising. Also, China, the world’s leading manufacturer of chemicals, reported a massive decline in production in the first quarter of 2020 along the course of COVID-19’s pandemic progression. This has contributed to an imbalance in the economics of supply-demand, causing suppliers and consumers everywhere to try and negotiate supply contracts.
For the purpose of this report, Reports and Data have segmented the global Acrylic Monomers Market on the basis of Product, Application, End User, and region:
Product Outlook (Revenue, USD Billion ; 2017-2027)
- Methyl Acrylate Monomers
- Butyl Acrylate Monomers
- Ethyl Acrylate Monomers
- 2 Ethyl Hexyl Acrylate Monomers (2-EHA Monomers)
Application Outlook (Revenue, USD Billion ; 2017-2027)
- Adhesives & Sealants
- Printing Inks
- Paints & Coatings
End-User Outlook (Revenue, USD Billion ; 2017-2027)
- Oil and Gas
Regional Outlook (Revenue, USD Billion ; 2017-2027)
- North America
- Asia Pacific
- Latin America
Further key findings from the report suggest
- Methacrylate monomers are also used for composing methacrylate adhesives, which are formed of elastomers and toughening agents. Methacrylates are available in a range of cure speeds which exhibit superior low-temperature impact performance. High strength bonds can be achieved with a variety of materials, especially plastics.
- The paints & coating application account for the largest market share of 31.4% in the year 2019. Acrylic paints contain one or more methacrylate-based products, which help enable paints and coatings to be applied efficiently while producing a durable and long-lasting coating. This helps to protect the surface from sunlight, rain, and other factors that may cause the layers to degenerate.
- Acrylic Fiber is formed by the addition of polymerization of acrylonitrile. The fiber offers resistance to the microbiological attack, ultraviolet degradation, laundry bleach, and weak alkalis. They also provide good thermal stability and high stability towards bleaching agents.
- The Asia Pacific dominated the market for the acrylic monomer. China is the largest producer of the product across the world due to the rising demand from domestic and international markets. High investment in the textile and apparel industry is propelling the demand for the product in Indonesia and India.
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Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2019-2027
Chapter 3. Indicative Metrics
Chapter 4. Acrylic Monomers Market Segmentation & Impact Analysis
4.1. Acrylic Monomers Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
22.214.171.124. Increasing Demand for Polyethylene
126.96.36.199. Increasing Use of High Performance Formulation Paints
4.2.3. Market restraints analysis
188.8.131.52. Concerns Regarding the Toxic Effects of Acrylate Monomers
4.3. Technological Insights
4.4. Regulatory Framework
4.5. ETOP Analysis
4.6. Porter’s Five Forces Analysis
4.7. Competitive Metric Space Analysis
4.8. Price trend Analysis
4.9. Customer Mapping
4.10. Covid-19 Impact Analysis
4.11. Global Recession Influence
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