Acrylic Ester Market

Industry Insights-

• The Global Acrylic Ester Market was valued at USD 8012.1 Million in 2021
• It is anticipated to reach USD 12369.1 Million by 2028
• A CAGR of 6.4% is anticipated over the forecast period

Overview-

Acrylic ester is a polymer made from acrylic acid that is used in water-based coating solutions. Solvent-based paints and sealants have been phased out. There are four types of acrylic easter such as butyl acrylate, 2-eh acrylate, methyl acrylate, and ethyl acrylate. Acrylic esters are known for their high thermal stability & oil resistance. It is non-toxic which has led to its adoption in various industries. Some of their applications are in areas like construction, adhesives, textiles, detergents, and others in the form of water-based coating solutions. They are used as raw materials for paints, viscous adhesives, acrylic gum, acrylic cloth, etc. It is also used as a building block for industrial polymer.

Covid-19 Impact-

The Covid-19 pandemic has shown a negative impact on the growth of the global acrylic ester market. The outbreak of Covid-19 has affected economies & industries in various countries due to lockdowns, travel bans & business closures. The global food and beverage industry is one of the major industries facing severe disruptions such as supply chain disruptions, technology program cancellations, and office closures due to the outbreak. China is a global manufacturing hub, with the largest supplier of raw materials. The overall market disruption due to Covid-19 due to factory closures, supply chain disruptions, and a slowdown in the global economy is also impacting the growth of the acrylic ester market.

Key Players-

Some of the key players for global Acrylic Ester Market are

• Arkema SA
• BASF SE
• LG Chem Ltd.
• Evonik Industries
• Mitsubishi Chemical Holdings Corporation
• Sibur Holding
• Nippon Shokubai Co. Ltd.
• Sasol Ltd.
• The Dow Chemical Company
• The Lubrozol Corporation
• Sanmu Group
• Toagosei
• Hexion
• Idemitsu Kosan
• Jurong Chem
• others

Segmentation Analysis-

By Type

• Butyl Acrylate 
• 2-Eh Acrylate  
• Methyl Acrylate  
• Ethyl Acrylate 

The global acrylic ester market is segmented on the type, application and region & country level. Based on type, the global acrylic ester market is segmented into butyl acrylate, 2-eh acrylate, methyl acrylate, and ethyl acrylate. Methyl acrylate is anticipated to be the most widely used acrylic ester in the market, owing to its pungent odor and colorless nature. This acrylic ester is particularly used in the pharmaceutical industry as a reagent for the synthesis of various intermediates. As a result, the increasing demand for methyl acrylate is expected to propel the growth of the acrylic ester market during the forecast period.

By Application

• Detergents 
• Surface Coatings
• Textiles
• Adhesives & Sealants
• Plastic Additives 

By application, the global acrylic ester market is segmented into detergents, surface coatings, textiles, adhesives & sealants, and plastic additives. Adhesives and sealants play a major role in the acrylic market, as they are essential for transportation, construction, and consumer goods. Acrylic ester is widely used in adhesives and sealants due to its increased flexibility, which drives the demand for the market.

By Region Analysis

• North America

  • U.S.
  • Canada

• Europe

  • Germany
  • France
  • U.K.
  • Italy
  • Spain
  • Netherland
  • Turkey
  • Switzerland
  • Belgium
  • Rest of Europe

• Asia-Pacific

  • China
  • South Korea
  • Japan
  • India
  • Australia
  • Philippines
  • Singapore
  • Malaysia
  • Thailand
  • Indonesia
  • Rest Of APAC

• Latin America

  • Brazil
  • Mexico
  • Colombia
  • Argentina
  • Peru
  • Rest of South America

• Middle East and Africa

  • Saudi Arabia
  • UAE
  • Egypt
  • South Africa
  • Rest Of MEA

Geographically, Asia Pacific is expected be fastest region in the global acrylic ester market within the forecast period due to the increasing demand for acrylic ester, rising demand in the construction industry, and growing research and development activities in this field in this region. For instance; as per the news published; on July 19th, 2021; Solvay launched a news shortstop inhibitor solution for safer acrylic monomer transportation and storage. In addition, the rising demand in the construction industry is also supplementing the market growth in this region. Acrylate esters are used in construction coatings. Increasing demand from the construction industry is a key driver for the global acrylic ester market.

Market Drivers-

Increasing demand of bio-based acrylic acid

One of the major factors driving the growth of the acrylic ester market is increasing demand for bio-based acrylic acid. Acrylic acid and its esters are among the most flexible monomers with a wide range of output polymers. Most acrylic acid producers and licensees are trying to shift away from petroleum-based feedstocks, even as global oil prices have reached truly unsustainable levels. Several companies have developed technologies in recent years to produce acrylic acid and acrylates from renewable sources (such as sugar and glycerol) using biotransformation techniques. Also, bio-based acrylic acid can also be used to make more durable diapers. 

Rising demand for acrylic ester in adhesives and sealants

In addition, the rising demand for acrylic ester in adhesives & sealants is also boosting the growth of the acrylic ester market. Adhesives & sealants are absolutely essential for construction, transportation, and consumer goods. Construction and transportation providers, as well as consumer goods companies, use high-performance adhesives and sealants to meet their demands, for example, to reduce the weight of cars or to build aircraft interior structures and low-energy buildings. Acrylic ester offers a wide range of adhesives, pressure-sensitive and self-adhesive, mortars, sealants, and coatings in strict compliance with technical and environmental standards. These high-tech systems are known for their maximum performance, customer protection, robustness, advanced impact tolerance & sealing, and insulation. Thus, the enhanced flexibility of acrylic ester makes it widely useful in adhesives & sealants leading to market growth.

Growing need of acrylic ester in surface coatings

Moreover, the growing need for acrylic ester in surface coatings is also supplementing the acrylic ester market growth. Surface coatings include paints, drying oils and varnishes, artificial transparent coatings, and other materials whose primary function is to protect the surface of an object from the environment. Acrylic surface coatings are found in paints and coatings in three industry categories, such as architectural coatings, OEM products, and special purpose coatings. Acrylic surface coatings are the leading finishes used in the paint and coatings industry, overtaking alkyd finishes in recent years. 

However, the variation in raw material prices associated with acrylic ester may hinder the growth of the global acrylic ester market. Despite that, increasing demand for PPMA resins and commercial production of bio-based acrylic acid derivatives may create more opportunities for the further growth of the global acrylic ester market.