PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1551219
PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1551219
Acrylate Market Forecasts to 2030 - Global Analysis By Chemical Compound, Grade, Application and By Geography
According to Stratistics MRC, the Global Acrylate Market is accounted for $11.7 billion in 2024 and is expected to reach $19.2 billion by 2030 growing at a CAGR of 8.6% during the forecast period. Acrylate refers to a type of chemical compound derived from acrylic acid, characterized by its ester functional group. These compounds are commonly used in the production of polymers and copolymers, which are essential in a variety of industrial applications. Acrylates are notable for their versatility and ability to form clear, durable, and flexible materials. The versatility and efficiency of acrylates make them a crucial component in many modern manufacturing processes, offering a range of properties from elasticity and clarity to chemical resistance and adhesion.
According to the United Nations, the world population is expected to reach 8.5 billion by 2030 and 9.7 billion by 2050, which will further necessitate requirements for housing, commercial hubs, and transportation infrastructure.
Market Dynamics:
Driver:
Emerging commercialization of bio-based acrylic acid
The emerging commercialization of bio-based acrylic acid represents a significant advancement in the field of acrylates, driven by increasing environmental and economic pressures. Traditionally, acrylic acid has been derived from petrochemical sources, a process that contributes to carbon emissions and depletes non-renewable resources. Bio-based acrylic acid, however, is produced from renewable biomass through sustainable processes, offering a greener alternative with a reduced carbon footprint. This transition not only supports environmental sustainability but also aligns with the growing demand for eco-friendly products in various industries, including adhesives, paints, and coatings.
Restraint:
Volatility of raw material prices
The volatility of raw material prices significantly impacts the acrylate industry, as acrylates are primarily derived from petrochemical products like ethylene and propylene. Fluctuations in the prices of these raw materials, driven by geopolitical tensions, supply chain disruptions, or changes in oil and gas markets, can lead to unpredictable costs for acrylate manufacturers. This instability affects not only production budgets but also pricing strategies, making it challenging for companies to maintain consistent profit margins and pass on costs to customers. However, sudden price changes can disrupt long-term contracts and investment plans, causing strategic uncertainty.
Opportunity:
Economic development and urbanization
Economic development and urbanization substantially influence the acrylate industry, driving its growth and transformation. As economies advance and urban areas expand, there is a rising demand for acrylates due to their applications in various sectors such as construction, automotive, and consumer goods. Urbanization accelerates the need for advanced materials that offer durability and aesthetic appeal, further boosting the acrylate market. Additionally, economic growth encourages investments in research and development, leading to innovations in acrylate technologies and applications. As cities expand and economies develop, the acrylate industry evolves to meet the increasing demand for high-performance materials, thereby contributing to the overall progress of urban and industrial landscapes.
Threat:
Health and safety issues
The use of acrylate compounds, essential in various industrial applications like adhesives, paints, and coatings, is significantly hampered by health and safety concerns. Acrylates are known to be hazardous, with potential health risks including respiratory issues, skin irritation, and long-term effects such as cancer. These compounds can release volatile organic compounds (VOCs) into the air, contributing to environmental pollution and indoor air quality problems. Regulations require stringent safety measures to handle acrylates, including proper ventilation, personal protective equipment, and rigorous training for workers. However, waste disposal and spill management protocols must be strictly followed to prevent environmental contamination.
Covid-19 Impact:
Initially, the pandemic caused disruptions in the supply chain, with lockdowns and restrictions leading to delays in the delivery of raw materials and interruptions in manufacturing processes. Reduced industrial activity and decreased demand in certain sectors, such as automotive and construction, further strained the market. The pandemic also accelerated demand in other areas, notably in healthcare and hygiene products, where acrylates are used in medical adhesives and sanitizing coatings. However, the shift in demand patterns led to fluctuations in acrylate prices and highlighted the industry's need for greater supply chain resilience.
The Ethyl Acrylate segment is expected to be the largest during the forecast period
Ethyl Acrylate segment is expected to be the largest during the forecast period. Ethyl acrylate is a key monomer used to enhance the properties of acrylate-based polymers, improving their performance in various applications. When incorporated into acrylate formulations, ethyl acrylate contributes to a more flexible and impact-resistant material. It introduces a higher level of elasticity and toughness, which is particularly valuable in coatings, adhesives, and elastomers. The presence of ethyl acrylate modifies the polymer's glass transition temperature, leading to enhanced low-temperature flexibility and resistance to cracking.
The Automotives segment is expected to have the highest CAGR during the forecast period
Automotives segment is expected to have the highest CAGR during the forecast period as it focuses on enhancing acrylate materials to improve vehicle performance, durability, and aesthetics. Acrylates, known for their versatility and strength, are being optimized to offer superior weather resistance, impact toughness, and clarity. These improvements are crucial for components such as headlights, taillights, and exterior trim, where durability and visual appeal are paramount. Advances in acrylate formulations are also enabling better integration with other materials and manufacturing processes, reducing costs and enhancing production efficiency.
Region with largest share:
Asia Pacific region commanded the largest market share over the extrapolated period due to the rising prevalence of chronic diseases such as cardiovascular conditions, diabetes and cancer. As these health issues become more common, there is a greater need for advanced diagnostic tools to monitor and manage these conditions effectively across the region. This heightened demand drives the regional growth of the acrylate market, as acrylate-based materials are integral to the production of high-quality imaging devices, including MRI and CT scanners. Acrylates are valued for their excellent optical clarity, durability, and precision, which are crucial for producing accurate and reliable imaging results across the region.
Region with highest CAGR:
Europe region is poised to hold profitable growth during the projected period by promoting sustainable practices and stringent safety standards. Government regulations is driven by the European Union's Green Deal and various environmental directives, are encouraging manufacturers to adopt greener technologies and reduce harmful emissions associated with acrylate production. By enforcing stricter guidelines on chemical usage and waste management, the regulations aim to minimize environmental impact and improve public health outcomes. Additionally, these policies are fostering innovation within the industry, as companies invest in research and development to meet compliance standards and enhance the efficiency of their processes.
Key players in the market
Some of the key players in Acrylate market include BASF SE, Celanese Corporation, Eastman Chemical Company, Evonik Industries AG, Huntsman Corporation, INEOS Group Limited, Ingevity Corporation, JSR Corporation, Mitsubishi Chemical Corporation, Sumitomo Chemical Co., Ltd, Tosoh Corporation and Wacker Chemie AG.
Key Developments:
In November 2022, Arkema S.A. took a significant stride in sustainable development by introducing a range of bio-attributed acrylic monomers using the mass balance approach. This move aligns with the company's commitment to environmentally friendly practices, particularly in its coating solutions segment.
In May 2022, Evonik established a strategic distribution partnership with Vimal Intertrade and Nordmann to cater to the emerging Indian and surrounding markets. This collaboration enhances Evonik's market presence and distribution network, positioning the company to better serve the evolving needs of these growing markets.
Chemical Compounds Covered:
- Butyl Acrylate
- Ethyl Acrylate
- Ethyl Hexyl Acrylate
- Methyl Acrylate
- Other Chemical Compounds
Grades Covered:
- Pharmaceutical Grade
- Standard Grade
- Technical Grade
Applications Covered:
- Automotives
- Packaging
- Paints & Coatings
- Personal Care
- Other Applications
Regions Covered:
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- Italy
- France
- Spain
- Rest of Europe
- Asia Pacific
- Japan
- China
- India
- Australia
- New Zealand
- South Korea
- Rest of Asia Pacific
- South America
- Argentina
- Brazil
- Chile
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- UAE
- Qatar
- South Africa
- Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
- Company Profiling
- Comprehensive profiling of additional market players (up to 3)
- SWOT Analysis of key players (up to 3)
- Regional Segmentation
- Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
- Competitive Benchmarking
- Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
- 2.1 Abstract
- 2.2 Stake Holders
- 2.3 Research Scope
- 2.4 Research Methodology
- 2.4.1 Data Mining
- 2.4.2 Data Analysis
- 2.4.3 Data Validation
- 2.4.4 Research Approach
- 2.5 Research Sources
- 2.5.1 Primary Research Sources
- 2.5.2 Secondary Research Sources
- 2.5.3 Assumptions
3 Market Trend Analysis
- 3.1 Introduction
- 3.2 Drivers
- 3.3 Restraints
- 3.4 Opportunities
- 3.5 Threats
- 3.6 Application Analysis
- 3.7 Emerging Markets
- 3.8 Impact of Covid-19
4 Porters Five Force Analysis
- 4.1 Bargaining power of suppliers
- 4.2 Bargaining power of buyers
- 4.3 Threat of substitutes
- 4.4 Threat of new entrants
- 4.5 Competitive rivalry
5 Global Acrylate Market, By Chemical Compound
- 5.1 Introduction
- 5.2 Butyl Acrylate
- 5.3 Ethyl Acrylate
- 5.4 Ethyl Hexyl Acrylate
- 5.5 Methyl Acrylate
- 5.6 Other Chemical Compounds
6 Global Acrylate Market, By Grade
- 6.1 Introduction
- 6.2 Pharmaceutical Grade
- 6.3 Standard Grade
- 6.4 Technical Grade
7 Global Acrylate Market, By Application
- 7.1 Introduction
- 7.2 Automotives
- 7.3 Packaging
- 7.4 Paints & Coatings
- 7.5 Personal Care
- 7.6 Other Applications
8 Global Acrylate Market, By Geography
- 8.1 Introduction
- 8.2 North America
- 8.2.1 US
- 8.2.2 Canada
- 8.2.3 Mexico
- 8.3 Europe
- 8.3.1 Germany
- 8.3.2 UK
- 8.3.3 Italy
- 8.3.4 France
- 8.3.5 Spain
- 8.3.6 Rest of Europe
- 8.4 Asia Pacific
- 8.4.1 Japan
- 8.4.2 China
- 8.4.3 India
- 8.4.4 Australia
- 8.4.5 New Zealand
- 8.4.6 South Korea
- 8.4.7 Rest of Asia Pacific
- 8.5 South America
- 8.5.1 Argentina
- 8.5.2 Brazil
- 8.5.3 Chile
- 8.5.4 Rest of South America
- 8.6 Middle East & Africa
- 8.6.1 Saudi Arabia
- 8.6.2 UAE
- 8.6.3 Qatar
- 8.6.4 South Africa
- 8.6.5 Rest of Middle East & Africa
9 Key Developments
- 9.1 Agreements, Partnerships, Collaborations and Joint Ventures
- 9.2 Acquisitions & Mergers
- 9.3 New Product Launch
- 9.4 Expansions
- 9.5 Other Key Strategies
10 Company Profiling
- 10.1 BASF SE
- 10.2 Celanese Corporation
- 10.3 Eastman Chemical Company
- 10.4 Evonik Industries AG
- 10.5 Huntsman Corporation
- 10.6 INEOS Group Limited
- 10.7 Ingevity Corporation
- 10.8 JSR Corporation
- 10.9 Mitsubishi Chemical Corporation
- 10.10 Sumitomo Chemical Co., Ltd
- 10.11 Tosoh Corporation
- 10.12 Wacker Chemie AG
List of Tables
- Table 1 Global Acrylate Market Outlook, By Region (2022-2030) ($MN)
- Table 2 Global Acrylate Market Outlook, By Chemical Compound (2022-2030) ($MN)
- Table 3 Global Acrylate Market Outlook, By Butyl Acrylate (2022-2030) ($MN)
- Table 4 Global Acrylate Market Outlook, By Ethyl Acrylate (2022-2030) ($MN)
- Table 5 Global Acrylate Market Outlook, By Ethyl Hexyl Acrylate (2022-2030) ($MN)
- Table 6 Global Acrylate Market Outlook, By Methyl Acrylate (2022-2030) ($MN)
- Table 7 Global Acrylate Market Outlook, By Other Chemical Compounds (2022-2030) ($MN)
- Table 8 Global Acrylate Market Outlook, By Grade (2022-2030) ($MN)
- Table 9 Global Acrylate Market Outlook, By Pharmaceutical Grade (2022-2030) ($MN)
- Table 10 Global Acrylate Market Outlook, By Standard Grade (2022-2030) ($MN)
- Table 11 Global Acrylate Market Outlook, By Technical Grade (2022-2030) ($MN)
- Table 12 Global Acrylate Market Outlook, By Application (2022-2030) ($MN)
- Table 13 Global Acrylate Market Outlook, By Automotives (2022-2030) ($MN)
- Table 14 Global Acrylate Market Outlook, By Packaging (2022-2030) ($MN)
- Table 15 Global Acrylate Market Outlook, By Paints & Coatings (2022-2030) ($MN)
- Table 16 Global Acrylate Market Outlook, By Personal Care (2022-2030) ($MN)
- Table 17 Global Acrylate Market Outlook, By Other Applications (2022-2030) ($MN)
- Table 18 North America Acrylate Market Outlook, By Country (2022-2030) ($MN)
- Table 19 North America Acrylate Market Outlook, By Chemical Compound (2022-2030) ($MN)
- Table 20 North America Acrylate Market Outlook, By Butyl Acrylate (2022-2030) ($MN)
- Table 21 North America Acrylate Market Outlook, By Ethyl Acrylate (2022-2030) ($MN)
- Table 22 North America Acrylate Market Outlook, By Ethyl Hexyl Acrylate (2022-2030) ($MN)
- Table 23 North America Acrylate Market Outlook, By Methyl Acrylate (2022-2030) ($MN)
- Table 24 North America Acrylate Market Outlook, By Other Chemical Compounds (2022-2030) ($MN)
- Table 25 North America Acrylate Market Outlook, By Grade (2022-2030) ($MN)
- Table 26 North America Acrylate Market Outlook, By Pharmaceutical Grade (2022-2030) ($MN)
- Table 27 North America Acrylate Market Outlook, By Standard Grade (2022-2030) ($MN)
- Table 28 North America Acrylate Market Outlook, By Technical Grade (2022-2030) ($MN)
- Table 29 North America Acrylate Market Outlook, By Application (2022-2030) ($MN)
- Table 30 North America Acrylate Market Outlook, By Automotives (2022-2030) ($MN)
- Table 31 North America Acrylate Market Outlook, By Packaging (2022-2030) ($MN)
- Table 32 North America Acrylate Market Outlook, By Paints & Coatings (2022-2030) ($MN)
- Table 33 North America Acrylate Market Outlook, By Personal Care (2022-2030) ($MN)
- Table 34 North America Acrylate Market Outlook, By Other Applications (2022-2030) ($MN)
- Table 35 Europe Acrylate Market Outlook, By Country (2022-2030) ($MN)
- Table 36 Europe Acrylate Market Outlook, By Chemical Compound (2022-2030) ($MN)
- Table 37 Europe Acrylate Market Outlook, By Butyl Acrylate (2022-2030) ($MN)
- Table 38 Europe Acrylate Market Outlook, By Ethyl Acrylate (2022-2030) ($MN)
- Table 39 Europe Acrylate Market Outlook, By Ethyl Hexyl Acrylate (2022-2030) ($MN)
- Table 40 Europe Acrylate Market Outlook, By Methyl Acrylate (2022-2030) ($MN)
- Table 41 Europe Acrylate Market Outlook, By Other Chemical Compounds (2022-2030) ($MN)
- Table 42 Europe Acrylate Market Outlook, By Grade (2022-2030) ($MN)
- Table 43 Europe Acrylate Market Outlook, By Pharmaceutical Grade (2022-2030) ($MN)
- Table 44 Europe Acrylate Market Outlook, By Standard Grade (2022-2030) ($MN)
- Table 45 Europe Acrylate Market Outlook, By Technical Grade (2022-2030) ($MN)
- Table 46 Europe Acrylate Market Outlook, By Application (2022-2030) ($MN)
- Table 47 Europe Acrylate Market Outlook, By Automotives (2022-2030) ($MN)
- Table 48 Europe Acrylate Market Outlook, By Packaging (2022-2030) ($MN)
- Table 49 Europe Acrylate Market Outlook, By Paints & Coatings (2022-2030) ($MN)
- Table 50 Europe Acrylate Market Outlook, By Personal Care (2022-2030) ($MN)
- Table 51 Europe Acrylate Market Outlook, By Other Applications (2022-2030) ($MN)
- Table 52 Asia Pacific Acrylate Market Outlook, By Country (2022-2030) ($MN)
- Table 53 Asia Pacific Acrylate Market Outlook, By Chemical Compound (2022-2030) ($MN)
- Table 54 Asia Pacific Acrylate Market Outlook, By Butyl Acrylate (2022-2030) ($MN)
- Table 55 Asia Pacific Acrylate Market Outlook, By Ethyl Acrylate (2022-2030) ($MN)
- Table 56 Asia Pacific Acrylate Market Outlook, By Ethyl Hexyl Acrylate (2022-2030) ($MN)
- Table 57 Asia Pacific Acrylate Market Outlook, By Methyl Acrylate (2022-2030) ($MN)
- Table 58 Asia Pacific Acrylate Market Outlook, By Other Chemical Compounds (2022-2030) ($MN)
- Table 59 Asia Pacific Acrylate Market Outlook, By Grade (2022-2030) ($MN)
- Table 60 Asia Pacific Acrylate Market Outlook, By Pharmaceutical Grade (2022-2030) ($MN)
- Table 61 Asia Pacific Acrylate Market Outlook, By Standard Grade (2022-2030) ($MN)
- Table 62 Asia Pacific Acrylate Market Outlook, By Technical Grade (2022-2030) ($MN)
- Table 63 Asia Pacific Acrylate Market Outlook, By Application (2022-2030) ($MN)
- Table 64 Asia Pacific Acrylate Market Outlook, By Automotives (2022-2030) ($MN)
- Table 65 Asia Pacific Acrylate Market Outlook, By Packaging (2022-2030) ($MN)
- Table 66 Asia Pacific Acrylate Market Outlook, By Paints & Coatings (2022-2030) ($MN)
- Table 67 Asia Pacific Acrylate Market Outlook, By Personal Care (2022-2030) ($MN)
- Table 68 Asia Pacific Acrylate Market Outlook, By Other Applications (2022-2030) ($MN)
- Table 69 South America Acrylate Market Outlook, By Country (2022-2030) ($MN)
- Table 70 South America Acrylate Market Outlook, By Chemical Compound (2022-2030) ($MN)
- Table 71 South America Acrylate Market Outlook, By Butyl Acrylate (2022-2030) ($MN)
- Table 72 South America Acrylate Market Outlook, By Ethyl Acrylate (2022-2030) ($MN)
- Table 73 South America Acrylate Market Outlook, By Ethyl Hexyl Acrylate (2022-2030) ($MN)
- Table 74 South America Acrylate Market Outlook, By Methyl Acrylate (2022-2030) ($MN)
- Table 75 South America Acrylate Market Outlook, By Other Chemical Compounds (2022-2030) ($MN)
- Table 76 South America Acrylate Market Outlook, By Grade (2022-2030) ($MN)
- Table 77 South America Acrylate Market Outlook, By Pharmaceutical Grade (2022-2030) ($MN)
- Table 78 South America Acrylate Market Outlook, By Standard Grade (2022-2030) ($MN)
- Table 79 South America Acrylate Market Outlook, By Technical Grade (2022-2030) ($MN)
- Table 80 South America Acrylate Market Outlook, By Application (2022-2030) ($MN)
- Table 81 South America Acrylate Market Outlook, By Automotives (2022-2030) ($MN)
- Table 82 South America Acrylate Market Outlook, By Packaging (2022-2030) ($MN)
- Table 83 South America Acrylate Market Outlook, By Paints & Coatings (2022-2030) ($MN)
- Table 84 South America Acrylate Market Outlook, By Personal Care (2022-2030) ($MN)
- Table 85 South America Acrylate Market Outlook, By Other Applications (2022-2030) ($MN)
- Table 86 Middle East & Africa Acrylate Market Outlook, By Country (2022-2030) ($MN)
- Table 87 Middle East & Africa Acrylate Market Outlook, By Chemical Compound (2022-2030) ($MN)
- Table 88 Middle East & Africa Acrylate Market Outlook, By Butyl Acrylate (2022-2030) ($MN)
- Table 89 Middle East & Africa Acrylate Market Outlook, By Ethyl Acrylate (2022-2030) ($MN)
- Table 90 Middle East & Africa Acrylate Market Outlook, By Ethyl Hexyl Acrylate (2022-2030) ($MN)
- Table 91 Middle East & Africa Acrylate Market Outlook, By Methyl Acrylate (2022-2030) ($MN)
- Table 92 Middle East & Africa Acrylate Market Outlook, By Other Chemical Compounds (2022-2030) ($MN)
- Table 93 Middle East & Africa Acrylate Market Outlook, By Grade (2022-2030) ($MN)
- Table 94 Middle East & Africa Acrylate Market Outlook, By Pharmaceutical Grade (2022-2030) ($MN)
- Table 95 Middle East & Africa Acrylate Market Outlook, By Standard Grade (2022-2030) ($MN)
- Table 96 Middle East & Africa Acrylate Market Outlook, By Technical Grade (2022-2030) ($MN)
- Table 97 Middle East & Africa Acrylate Market Outlook, By Application (2022-2030) ($MN)
- Table 98 Middle East & Africa Acrylate Market Outlook, By Automotives (2022-2030) ($MN)
- Table 99 Middle East & Africa Acrylate Market Outlook, By Packaging (2022-2030) ($MN)
- Table 100 Middle East & Africa Acrylate Market Outlook, By Paints & Coatings (2022-2030) ($MN)
- Table 101 Middle East & Africa Acrylate Market Outlook, By Personal Care (2022-2030) ($MN)
- Table 102 Middle East & Africa Acrylate Market Outlook, By Other Applications (2022-2030) ($MN)
