Global 2-Ethylhexyl Acrylate Market - 2024-2031

Overview

Global 2-Ethylhexyl Acrylate Market reached US$ 1.3 billion in 2023 and is expected to reach US$ 2.2 billion by 2031, growing with a CAGR of 6.5% during the forecast period 2024-2031.

2-EHA is used in the construction sector to make a variety of coatings and adhesives, including architectural coatings, industrial coatings and flooring, tile and roofing materials. Continuous technological improvements and product breakthroughs in the chemical sector result in better formulations and uses for 2-ethylhexyl acrylate-based goods. The innovations fuel market expansion by broadening the application breadth and improving product performance.

2-EHA is used in the production of adhesives. Each adhesive is widely used in both the building and automotive sectors due to its ease of application, minimal VOC emissions and washability. 2-EHA is an important element in adhesive manufacture since it increases the end product's stickiness, flexibility and durability. As a result, the demand and sales of 2-EHA-based adhesives will increase dramatically as end-user verticals expand and acts as a significant market driver.

In 2023, North America is expected to be the second-dominant region with about 20% of the global 2-ethylhexyl acrylate market. North America has a strong manufacturing base in chemicals and related industries, making it an ideal location for the manufacture and consumption of 2-ethylhexyl acrylate-based products. The region's manufacturing facilities, skilled labor and technological capabilities help to drive market growth and competitiveness.

Dynamics

Growing Demand in Automotive

The automobile industry is another important consumer of 2-ethylhexyl acrylate, which is utilized in vehicle paints, adhesives and sealants. Global automotive production and sales are expanding due to factors such as rising disposable income, population growth and technical improvements, all of which contribute to an increase in demand for 2-ethylhexyl acrylate goods.

Market innovation is driven by ongoing R&D efforts to enhance the performance, durability and environmental sustainability of 2-ethylhexyl acrylate-based products. Technological improvements result in the creation of novel formulations, applications and product refinements, enhancing the market prospects for 2-ethylhexyl acrylate.

Increasing Use Of 2-Ethyl Hexyl Acrylate In Paints And Inks Products

2-ethyl hexyl acrylate (2-EHA) is an acrylate monomer that is widely used in paints and inks. It is a flammable, colorless fluid that is a vital component in the manufacture of different coatings, inks and adhesives. Water-based coatings are one of 2-EHA's most common uses in the paint and ink industry. The coatings are extensively used in the construction and automotive industries because they are easy to apply, have low VOC emissions and are cleanable with water.

Another key use of 2-EHA in the paint and ink industry is to create UV-cured coatings. UV light cures or hardens the coatings. It is widely utilized in the printing and packaging sectors because they cure quickly and resist solvents and abrasion. It is also utilized to produce inks, particularly UV-cured inks, which are used in printing and packaging applications.

Volatility in Price and Stringent Regulations

The market for 2-ethylhexyl acrylate is impacted by raw material prices such as acrylic acid and 2-ethylhexanol. Fluctuations in the cost of these raw materials can have an impact on manufacturers' production costs and profit margins, slowing market growth. Environmental restrictions governing the use and disposal of chemicals might present obstacles to the industry.

The use of 2-ethyl hexyl acrylate has a variety of effects on human health, which is one of the most significant difficulties facing the 2-ethyl hexyl acrylate industry. In accordance to the International Agency for Research on Cancer and U.S. Environmental Protection Agency, acrylates are toxic to humans. The organization has identified acrylates as a probable human carcinogen. Thus, the health concerns connected with 2-ethylhexyl acrylate are a market restriction.

Segment Analysis

The global 2-ethylhexyl acrylate market is segmented based on type, application, end-user and region.

Rising Demand for Paints & Coatings Drives the Segment Growth

Automotive is expected to be the dominant segment with over 30% of the market during the forecast period 2024-2031. The fabrication of water-based coatings is one of 2-EHA's most common uses in the automotive sector. The coatings are widely used in the automotive sector because they are simple to apply, emit little volatile organic compounds and can be cleaned with water.

2-EHA is an important component in the production of water-based coatings, as it improves adhesion, flexibility and durability. Furthermore, the coatings are utilized to protect the car body from external variables such as sunlight, rain, dust and corrosion. In addition, 2-EHA is utilized to provide coatings for automotive interiors such as the dashboard, seats and door panels. Coatings offer a smooth appearance, increase longevity and protect the car's interior from external elements.

Geographical Penetration

Strong Demand from Various End-Use Industries in Asia-Pacific

Asia-Pacific is expected to be the dominant region in the global 2-Ethylhexyl Acrylate market covering over 30% of the market. The region is seeing fast industrialization and urbanization, particularly in China, India and Southeast Asian countries. The expansion fuels demand for construction materials, adhesives, coatings and other products containing 2-ethylhexyl acrylate, propelling the market forward.

In India, increased government expenditures in initiatives like the Gati Shakti Master Plan, Sagarmala Program, Bharatmala Pariyojana, development of 21 Green Field Airports in India and so on, have made the Indian construction market very competitive and holds several in the next years. Chemical manufacturers' increased efforts in R&D, as well as government measures to stimulate innovation, contribute to the growth of Asia-Pacific 2-ethylhexyl acrylate market.

Competitive Landscape

The major global players in the market include BASF SE, Asahi Kasei Corporation, Ascend Performance Materials, Compass Chemical, Evonik Industries AG, Solvay SA, Merck KGa, E. I. Du Pont De Nemours Inc., Invista and Ashland Global Holdings, Inc.

COVID-19 Impact Analysis

Lockdown measures, travel restrictions and delays in transportation networks have caused delays in the supply chain for chemicals and raw materials, including 2-ethylhexyl acrylate. Reduced manufacturing capacity and logistical constraints have hampered the availability of raw materials and transportation, affecting the total supply of 2-ethylhexylacrylate. The pandemic generated changes in demand for several end-use products and sectors that use 2-ethylhexyl acrylate.

During lockdowns, industries such as construction, automotive and consumer goods experienced slowdowns or shutdowns, reducing demand for 2-ethylhexyl acrylate-containing items. The pandemic has generated changes in demand for several end-use items and businesses that rely on 2-ethylhexyl acrylate. During lockdowns, industries experienced slowdowns or shutdowns, resulting in lower demand for 2-ethylhexyl acrylate-containing items including adhesives, coatings and sealants.

Russia-Ukraine War Impact

Ukraine and Russia are major manufacturers of raw materials used in the chemical industry, including acrylic monomers such as 2-ethylhexylacrylate. Any disruption in the supply of raw materials from these locations as a result of the conflict has the potential to disrupt global supply chains for businesses. The uncertainty surrounding the battle caused volatility in raw material costs, especially those utilized in the manufacturing of 2-ethylhexyl acrylate.

Fluctuations in raw material prices had an impact on manufacturing costs and, in turn, global market pricing. The crisis has special regional implications, particularly in Europe, which has significant economic relations to both Russia and Ukraine. Companies operating in this region encountered specific problems associated with supply chain interruptions, trade restrictions and geopolitical uncertainty.

By Type

• 99.0% Purity
• 99.5% Purity
• Others

By Application

• Paints and Inks
• Adhesives
• Construction
• Textile Chemicals
• Automotive
• Others

By Region

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Russia
  • Rest of Europe
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
• Middle East and Africa

Key Developments

• In 2022, BASF has begun building of a new manufacturing site in Verbund, China, which will include units producing Glacial Acrylic Acid (GAA), Butyl Acrylate (BA) and 2-Ethylhexyl Acrylate (2-EHA). The plant is anticipated to come on stream in 2025, producing 100,000 tons of 2-EHA.
• In 2022, BPCL announced the shipment of the first batch of 2-EHA manufactured at its Kochi Refinery to Asian Paints and Visen Industries India. The factory began production in 2021 and is the only manufacturer of 2-EHA, with an installed capacity of 10,000 tons.

Why Purchase the Report?

• To visualize the global 2-ethylhexyl acrylate market segmentation based on type, application, end-user and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of 2-ethylhexyl acrylate market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.

The global 2-ethylhexyl acrylate market report would provide approximately 54 tables, 45 figures and 182 pages.

Target Audience 2024

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies