The globalAcrylic Monomers Marketis 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.
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Top Companies: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.
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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Segments covered in the report:
Product Outlook (Revenue, USD Billion ; 2017-2027)
- Methyl Acrylate Monomers
- Butyl Acrylate Monomers
- Ethyl Acrylate Monomers
- 2 Ethyl Hexyl Acrylate Monomers (2-EHA Monomers)
- Others
Application Outlook (Revenue, USD Billion ; 2017-2027)
- Adhesives Sealants
- Printing Inks
- Paints Coatings
- Plastics
- Others
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The global Acrylic Monomers market is segmented into:
- North America(U.S.A., Canada, Mexico)
- Europe(Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific(China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America(Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa(Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key Questions Addressed in the Report:
- What are the dominating factors that are influencing the growth of the industry?
- In the forecast period, which market segment is expected to rise the most?
- What are the risks and challenges that the industry is facing?
- In the coming years, which area is projected to dominate the market?
- Who are the major players in the market?
- What kind of strategic business plans have they made?
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