Acrylate Market - Forecast(2023 - 2028)

Report Code: CMR 23703 Report Format: PDF + Excel

Acrylate Market Overview

Acrylate Market size is expected to be valued at US$10.6 billion by the end of the year 2026 and the acrylate industry is set to grow at a CAGR of 6.7% during the forecast period from 2021-2026. The increasing adoption of acrylic emulsions in paints and coatings owing to the enhanced properties of acrylic emulsion such as short drying time, wear and water resistance, environmental friendliness, resistance to algae and fungi, abrasion resistance, wash-ability and others is one of the major factors driving the demand for Acrylate Market. Furthermore, the growing personal care industry is also contributing to the growth of the Acrylate Market as acrylates copolymer is widely used in personal care and cosmetic products as polymer films which provides water resistance to these products. These are few of the major factors driving the demand for Acrylate Market.

COVID-19 impact

Amid the Covid-19 pandemic, the Acrylate Market faced a lot of challenges in terms of production, operation, distribution, supply chain management and marketing of their products. The operation of Acrylate Market was hugely affected owing to the various legal restrictions laid down by many countries across the globe. The covid-19 restrictions led to the abrupt halting of inter-country and inter-state trade, imports and exports which further impacted the acrylate industry. The Acrylate Market is however estimated to improve in terms of production and sales by the end of the year 2021.

Report Coverage

The report: “Acrylate Market – Forecast (2021-2026)”, by IndustryARC, covers an in-depth analysis of the following segments of the Acrylate Industry.

By Chemical: Butyl Acrylate, Ethyl Acrylate, Methyl Acrylate, Ethyl Hexyl Acrylate and Others.
By Application: Packaging, Adhesives and Sealants, Plastics (Polyethylene Terephthalate (PETE), High-Density Polyethylene (HDPE), Polyvinyl Chloride (PVC), Polypropylene (PP), Polystyrene or Styrofoam (PS) and Others), Consumer Goods, Synthetic Resins, Inks, Rubber, Paper and Pulp and Others.
By End-Use Industry: Paints and Coatings, Building and Construction (Residential construction, commercial construction and industrial construction), Electrical and Electronics, Textile Industry, Automotive Industry and Others.
By Geography: North America (U.S, Canada, Mexico), Europe (Germany, UK, France, Italy, France, Netherlands, Belgium Spain, Russia and Rest of Europe), APAC (China, Japan India, South Korea, Australia, New Zealand, Indonesia, Taiwan, Malaysia), South America (Brazil, Argentina, Colombia, Chile and Rest of South America) and RoW (Middle East and Africa). 

Key Takeaways

  • Asia-Pacific market held the largest share in the Acrylate Market owing to the increasing population coupled with the growing demand for personal care products in countries like China, India, Japan and South Korea.
  • The growing demand for products such as acrylate emulsions and acrylate copolymer for use in products such as paint & coatings and personal care industry is highly driving the growth of the Acrylate Market.
  • The increase in the use of styrene acrylic resin in application of adhesives and sealants in various key-use industries such as building & construction, paint & coatings and other industries is driving the demand for Acrylate Market.
  • Amid the Covid-19 pandemic, the Acrylate Market faced a lot of challenges owing to the various legal restrictions imposed across the globe. The Acrylate Market is however estimated to improve by the end of the year 2021.

FIGURE: Asia-Pacific Acrylate Market Revenue, 2020-2026 (US$ Billion) 

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Acrylate Market Segment Analysis – By Chemical

Butyl Acrylate held the largest share of 38% in the Acrylate Market in the year 2020. Butyl acrylate is extensively used in various applications such as cleaning agents, antioxidants, surfactants, aqueous resins, elastomers and others. This is majorly driving the butyl acrylate segment in the Acrylate Market. Butyl acrylate is widely used as a solvent in the production of lacquers and paints. For instance, according to British Coatings Federation, the total sales value of paints and coatings during 2019 was valued at US$3.58 billion (EURO 3.2 billion) and at a quantity of 703 million litres. Similarly, according to American Coatings Association, the value of special purpose coatings increased from US$5.2 billion in 2018 to US$5.4 billion increasing from 157 million gallons to 162 million gallons. Therefore this is majorly driving the butyl acrylate segment in the Acrylate Market.

Acrylate Market Segment Analysis – By Application

Packaging segment held the largest share of 34% in the Acrylate Market in the year 2020. Since adhesives and sealants are widely used in the packaging industry, the growth in packaging industry is also driving the growth of Acrylate Market. Acrylates are used in the production of adhesives and sealants. Acrylic emulsion adhesives are rich in solids, good adhesion & cohesion and high water resistance, which makes it a sought after adhesives in the packaging industry. For instance, according to American Forest and Paper Association, the packaging paper and specialty packaging shipments increased by 4% during April 2021. This is further increasing the demand for acrylates as it is highly used for sealing and bonding packages in the packing industry. 

Acrylate Market Segment Analysis – By End-Use Industry

Building and construction industry held the largest share of 37% in the Acrylate Market in the year 2020The use of various products such as adhesives & sealants, is driving the demand for acrylate in the building and construction industry. Therefore, the increase in the construction activities across the globe is majorly contributing to the increase in demand for Acrylate Market. For instance, according to the World Bank, the cost of expenditure in the construction industry across the world was estimated to reach US$11.9 trillion in the year 2020, which is an increase of 4.2% as compared to the previous year expenditure. The increase in the activities in the building and construction sector coupled with the diverse application of acrylates in the building sector is driving the demand for acrylates market from the building and construction sector. 

Acrylate Market Segment Analysis – By Geography

Asia-Pacific region held the largest share of 42% in the Acrylate Market in the year 2020. The increase in application of acrylates in adhesives and sealants, painting and coatings and other related products is driving the demand for Acrylate Market in the Asia Pacific region. Furthermore, the growing awareness and consciousness about physical appearances and body grooming is driving the demand for personal care products such as skin care and hair care products in the Asia-Pacific region. According to Cosmetics Europe, the personal care association in Europe, the cosmetics market of the major countries like China, India, South Korea and Japan of Asia Pacific region amounted to US$123.34 billion in the year 2019.

Acrylate Market Drivers

Increasing demand from the packaging industry

The increase in demand for acrylate comes from the increase in the use of adhesives and sealants in the packaging industry. Acrylate copolymers are widely used in the packaging industry owing to it's properties such as chemical purity, stability, hydrophobicity, low temperature performance, excellent weathering, high resistance to water, heat & sunlight and other properties. According to the data from World Packaging Organisation (WPO), a global organization and regulatory body of the packaging industry, the annual turnover of the global packaging industry crossed the value of US$500 billion during the year 2019, which served as an important factor driving the demand for adhesives and sealants which in turn increased the growth of Acrylate Market. This is driving the growth and demand for Acrylate Market from the packaging sector across the globe.

Growing demand for personal care industry

The growing demand for personal care industry across the globe is one of the important factors driving the growth of the Acrylate Market as acrylates copolymer is widely used in the cosmetics industry. According to data from Cosmetics Europe, the personal care association in Europe, the revenue of the cosmetics & personal care industry has been increasing in many countries across the globe. The revenue of cosmetics & personal care industry across the globe in various countries increased during the year 2019 as compared to the revenue of cosmetics & personal industry in the year 2018: United States-increase of 15.32% from US$71.79 billion (2018) to US$82.79 billion (2019); India-increase of 10.04% from US$12.25 (2018) to US$13.48 billion (2019); South Korea- increase of 3.11% from US$11.22 billion (2018) to US$11.57 billion (2019) and in Japan-increase of 8379% from US$33.66 billion (2018) to US$36.62 billion (2019). This is widely increasing the demand for cosmetics and personal care products across the world, which is further driving the demand for Acrylate Market as it is used as acrylate copolymer in the personal care industry. 

Acrylate Market Challenges

Impact of acrylates on Health

The use of acrylates has various impacts on the health of human beings. This is one of the biggest challenges faced by the Acrylate Market. According to The International Agency of Research on Cancer and U.S. Environmental Protection Agency (EPA) acrylates is hazardous to human beings. These organization has classifies acrylates as a possible human carcinogen. There has been reported cases of exposure to acrylates have said to cause skin, eye and throat reactions and in some cases serious health consequences such as cancer, development issues, neurological damage, cellular damage, reproductive toxicity and organ system toxicity. These health related issues pose as a major challenge to the Acrylate Market. 

Acrylate Market Industry Outlook

Facility expansion, production expansion, collaborations, partnerships, investments, acquisitions and mergers are some of the key strategies adopted by players in the
Acrylate Market. Major players in the Acrylate Market are:

  1. Nippon Shokubai CO. LTD.
  2. Mitsubishi Chemical Corporation
  3. SIBUR
  4. BASF SE
  5. Evonik Industries
  6. Arkema
  7. The Dow Chemical Company
  8. LG Chem
  9. SASOL Limited
  10. Formosa Petrochemical Corporation
  11. Wanhua Chemical Group Co., Ltd.
  12. Air Liquide among others.

Acquisitions/Technology Launches

  • On 09 March 2021, BASF doubled its acrylic dispersions capacity in Pasir Gudang, Malaysia. These new product line includes state-of-the-art Acronal EDGE, Acronal PLUS, Joncryl and the next generation Acronal ECO dispersions. This new additional capacity was manily established for serving the ASEAN, Australia and New Zealand markets. 

Relevant Reports

Tert Butyl Acrylate Market – Forecast (2021 - 2026)
Report Code: CMR 1154

Ethylene Methyl Acrylate Market– Forecast (2021 - 2026)
Report Code: CMR 1140

For more Chemicals and Materials related reports, please click here

1. Acrylate Market- Market Overview
    1.1 Definitions and Scope
2. Acrylate Market - Executive Summary
    2.1 Key Trends by Chemical
    2.2 Key Trends by Application
    2.3 Key Trends by End-Use Industry
    2.4 Key Trends by Geography
3. Acrylate Market – Comparative analysis
    3.1 Market Share Analysis- Major Companies
    3.2 Product Benchmarking- Major Companies
    3.3 Top 5 Financials Analysis
    3.4 Patent Analysis- Major Companies
    3.5 Pricing Analysis (ASPs will be provided)
4. Acrylate Market - Startup companies Scenario Premium Premium
    4.1 Major startup company analysis:
        4.1.1 Investment
        4.1.2 Revenue
        4.1.3 Product portfolio
        4.1.4 Venture Capital and Funding Scenario
5. Acrylate Market – Industry Market Entry Scenario Premium Premium
    5.1 Regulatory Framework Overview
    5.2 New Business and Ease of Doing Business Index
    5.3 Successful Venture Profiles
    5.4 Customer Analysis – Major companies
6. Acrylate Market - Market Forces
    6.1 Market Drivers
    6.2 Market Constraints
    6.3 Porters Five Force Model
        6.3.1 Bargaining Power of Suppliers
        6.3.2 Bargaining Powers of Buyers
        6.3.3 Threat of New Entrants
        6.3.4 Competitive Rivalry
        6.3.5 Threat of Substitutes
7. Acrylate Market – Strategic Analysis
    7.1 Value Chain Analysis
    7.2 Opportunity Analysis
    7.3 Product/Market Life Cycle
    7.4 Distributor Analysis – Major Companies
8. Acrylate Market – By Chemical (Market Size -$Million/Billion)
    8.1 Butyl Acrylate
    8.2 Ethyl Acrylate
    8.3 Methyl Acrylate
    8.4 Ethyl Hexyl Acrylate
    8.5 Others
9. Acrylate Market – By Application (Market Size -$Million/Billion)
    9.1 Packaging
    9.2 Adhesives and Sealants
    9.3 Plastics
        9.3.1 Polyethylene Terephthalate (PETE)
        9.3.2 High-Density Polyethylene (HDPE)
        9.3.3 Polyvinyl Chloride (PVC)
        9.3.4 Polypropylene (PP)
        9.3.5 Polystyrene or Styrofoam (PS)
        9.3.6 Others
    9.4 Consumer Goods
    9.5 Synthetic Resins
    9.6 Inks
    9.7 Rubber
    9.8 Paper and Pulp
    9.9 Others
10. Acrylate Market - By End-Use Industry (Market Size -$Million/Billion)
    10.1 Paints and Coatings
    10.2 Building and Construction
        10.2.1 Residential construction
            10.2.1.1 Independent homes
            10.2.1.2 Row homes
            10.2.1.3 Large apartment buildings
        10.2.2 Commercial construction
            10.2.2.1 Hospitals and Healthcare Infrastructure
            10.2.2.2 Educational Institutes
            10.2.2.3 Hotels and Restaurants
            10.2.2.4 Banks and Financial Institutions
            10.2.2.5 Airports
            10.2.2.6 Hyper and Super Market
            10.2.2.7 Shopping Malls
            10.2.2.8 Others
        10.2.3 Industrial Construction
    10.3 Electrical and Electronics
    10.4 Textile Industry
    10.5 Automotive Industry
    10.6 Others
11. Acrylate Market - By Geography (Market Size -$Million/Billion)
    11.1 North America
        11.1.1 USA
        11.1.2 Canada
        11.1.3 Mexico
    11.2 Europe
        11.2.1 UK
        11.2.2 Germany
        11.2.3 France
        11.2.4 Italy
        11.2.5 Netherlands
        11.2.6 Spain
        11.2.7 Russia
        11.2.8 Belgium
        11.2.9 Rest of Europe
    11.3 Asia-Pacific
        11.3.1 China
        11.3.2 Japan
        11.3.3 India
        11.3.4 South Korea
        11.3.5 Australia and New Zealand
        11.3.6 Indonesia
        11.3.7 Taiwan
        11.3.8 Malaysia
        11.3.9 Rest of APAC
    11.4 South America
        11.4.1 Brazil
        11.4.2 Argentina
        11.4.3 Colombia
        11.4.4 Chile
        11.4.5 Rest of South America
    11.5 Rest of the World
        11.5.1 Middle East
            11.5.1.1 Saudi Arabia
            11.5.1.2 UAE
            11.5.1.3 Israel
            11.5.1.4 Rest of the Middle East
        11.5.2 Africa
            11.5.2.1 South Africa
            11.5.2.2 Nigeria
            11.5.2.3 Rest of Africa
12. Acrylate Market – Entropy
    12.1 New Product Launches
    12.2 M&As, Collaborations, JVs and Partnerships
13. Acrylate Market – Industry/Segment Competition Landscape Premium
    13.1 Company Benchmarking Matrix- Major Companies
    13.2 Market Share at Global Level - Major companies
    13.3 Market Share by Key Region - Major companies
    13.4 Market Share by Key Country - Major companies
    13.5 Market Share by Key Application - Major companies
    13.6 Market Share by Key Product Type/Product category - Major companies
14. Acrylate Market – Key Company List by Country Premium Premium
15. Acrylate Market Company Analysis - Business Overview, Product Portfolio, Financials, and Developments
    15.1 Company 1
    15.2 Company 2
    15.3 Company 3
    15.4 Company 4
    15.5 Company 5
    15.6 Company 6
    15.7 Company 7
    15.8 Company 8
    15.9 Company 9
    15.10 Company 10 and more
"*Financials would be provided on a best efforts basis for private companies"

LIST OF TABLES

1.Global Acrylate Market By End-Use Industry Market 2019-2024 ($M)
1.1 Packaging Market 2019-2024 ($M) - Global Industry Research
1.1.1 Coatings for Packaging Market 2019-2024 ($M)
1.1.2 Adhesives for Packaging Market 2019-2024 ($M)
1.2 Consumer Goods Market 2019-2024 ($M) - Global Industry Research
1.2.1 Coatings Market 2019-2024 ($M)
1.2.2 Adhesives Market 2019-2024 ($M)
1.3 Building & Construction Market 2019-2024 ($M) - Global Industry Research
1.3.1 Paints & Coatings Market 2019-2024 ($M)
1.3.2 Adhesives Market 2019-2024 ($M)
1.4 Textiles Market 2019-2024 ($M) - Global Industry Research
1.5 Automotive Market 2019-2024 ($M) - Global Industry Research
2.Global Acrylate Market By End-Use Industry Market 2019-2024 (Volume/Units)
2.1 Packaging Market 2019-2024 (Volume/Units) - Global Industry Research
2.1.1 Coatings for Packaging Market 2019-2024 (Volume/Units)
2.1.2 Adhesives for Packaging Market 2019-2024 (Volume/Units)
2.2 Consumer Goods Market 2019-2024 (Volume/Units) - Global Industry Research
2.2.1 Coatings Market 2019-2024 (Volume/Units)
2.2.2 Adhesives Market 2019-2024 (Volume/Units)
2.3 Building & Construction Market 2019-2024 (Volume/Units) - Global Industry Research
2.3.1 Paints & Coatings Market 2019-2024 (Volume/Units)
2.3.2 Adhesives Market 2019-2024 (Volume/Units)
2.4 Textiles Market 2019-2024 (Volume/Units) - Global Industry Research
2.5 Automotive Market 2019-2024 (Volume/Units) - Global Industry Research
3.North America Acrylate Market By End-Use Industry Market 2019-2024 ($M)
3.1 Packaging Market 2019-2024 ($M) - Regional Industry Research
3.1.1 Coatings for Packaging Market 2019-2024 ($M)
3.1.2 Adhesives for Packaging Market 2019-2024 ($M)
3.2 Consumer Goods Market 2019-2024 ($M) - Regional Industry Research
3.2.1 Coatings Market 2019-2024 ($M)
3.2.2 Adhesives Market 2019-2024 ($M)
3.3 Building & Construction Market 2019-2024 ($M) - Regional Industry Research
3.3.1 Paints & Coatings Market 2019-2024 ($M)
3.3.2 Adhesives Market 2019-2024 ($M)
3.4 Textiles Market 2019-2024 ($M) - Regional Industry Research
3.5 Automotive Market 2019-2024 ($M) - Regional Industry Research
4.South America Acrylate Market By End-Use Industry Market 2019-2024 ($M)
4.1 Packaging Market 2019-2024 ($M) - Regional Industry Research
4.1.1 Coatings for Packaging Market 2019-2024 ($M)
4.1.2 Adhesives for Packaging Market 2019-2024 ($M)
4.2 Consumer Goods Market 2019-2024 ($M) - Regional Industry Research
4.2.1 Coatings Market 2019-2024 ($M)
4.2.2 Adhesives Market 2019-2024 ($M)
4.3 Building & Construction Market 2019-2024 ($M) - Regional Industry Research
4.3.1 Paints & Coatings Market 2019-2024 ($M)
4.3.2 Adhesives Market 2019-2024 ($M)
4.4 Textiles Market 2019-2024 ($M) - Regional Industry Research
4.5 Automotive Market 2019-2024 ($M) - Regional Industry Research
5.Europe Acrylate Market By End-Use Industry Market 2019-2024 ($M)
5.1 Packaging Market 2019-2024 ($M) - Regional Industry Research
5.1.1 Coatings for Packaging Market 2019-2024 ($M)
5.1.2 Adhesives for Packaging Market 2019-2024 ($M)
5.2 Consumer Goods Market 2019-2024 ($M) - Regional Industry Research
5.2.1 Coatings Market 2019-2024 ($M)
5.2.2 Adhesives Market 2019-2024 ($M)
5.3 Building & Construction Market 2019-2024 ($M) - Regional Industry Research
5.3.1 Paints & Coatings Market 2019-2024 ($M)
5.3.2 Adhesives Market 2019-2024 ($M)
5.4 Textiles Market 2019-2024 ($M) - Regional Industry Research
5.5 Automotive Market 2019-2024 ($M) - Regional Industry Research
6.APAC Acrylate Market By End-Use Industry Market 2019-2024 ($M)
6.1 Packaging Market 2019-2024 ($M) - Regional Industry Research
6.1.1 Coatings for Packaging Market 2019-2024 ($M)
6.1.2 Adhesives for Packaging Market 2019-2024 ($M)
6.2 Consumer Goods Market 2019-2024 ($M) - Regional Industry Research
6.2.1 Coatings Market 2019-2024 ($M)
6.2.2 Adhesives Market 2019-2024 ($M)
6.3 Building & Construction Market 2019-2024 ($M) - Regional Industry Research
6.3.1 Paints & Coatings Market 2019-2024 ($M)
6.3.2 Adhesives Market 2019-2024 ($M)
6.4 Textiles Market 2019-2024 ($M) - Regional Industry Research
6.5 Automotive Market 2019-2024 ($M) - Regional Industry Research
7.MENA Acrylate Market By End-Use Industry Market 2019-2024 ($M)
7.1 Packaging Market 2019-2024 ($M) - Regional Industry Research
7.1.1 Coatings for Packaging Market 2019-2024 ($M)
7.1.2 Adhesives for Packaging Market 2019-2024 ($M)
7.2 Consumer Goods Market 2019-2024 ($M) - Regional Industry Research
7.2.1 Coatings Market 2019-2024 ($M)
7.2.2 Adhesives Market 2019-2024 ($M)
7.3 Building & Construction Market 2019-2024 ($M) - Regional Industry Research
7.3.1 Paints & Coatings Market 2019-2024 ($M)
7.3.2 Adhesives Market 2019-2024 ($M)
7.4 Textiles Market 2019-2024 ($M) - Regional Industry Research
7.5 Automotive Market 2019-2024 ($M) - Regional Industry Research

LIST OF FIGURES

1.US Acrylate Market Revenue, 2019-2024 ($M)
2.Canada Acrylate Market Revenue, 2019-2024 ($M)
3.Mexico Acrylate Market Revenue, 2019-2024 ($M)
4.Brazil Acrylate Market Revenue, 2019-2024 ($M)
5.Argentina Acrylate Market Revenue, 2019-2024 ($M)
6.Peru Acrylate Market Revenue, 2019-2024 ($M)
7.Colombia Acrylate Market Revenue, 2019-2024 ($M)
8.Chile Acrylate Market Revenue, 2019-2024 ($M)
9.Rest of South America Acrylate Market Revenue, 2019-2024 ($M)
10.UK Acrylate Market Revenue, 2019-2024 ($M)
11.Germany Acrylate Market Revenue, 2019-2024 ($M)
12.France Acrylate Market Revenue, 2019-2024 ($M)
13.Italy Acrylate Market Revenue, 2019-2024 ($M)
14.Spain Acrylate Market Revenue, 2019-2024 ($M)
15.Rest of Europe Acrylate Market Revenue, 2019-2024 ($M)
16.China Acrylate Market Revenue, 2019-2024 ($M)
17.India Acrylate Market Revenue, 2019-2024 ($M)
18.Japan Acrylate Market Revenue, 2019-2024 ($M)
19.South Korea Acrylate Market Revenue, 2019-2024 ($M)
20.South Africa Acrylate Market Revenue, 2019-2024 ($M)
21.North America Acrylate By Application
22.South America Acrylate By Application
23.Europe Acrylate By Application
24.APAC Acrylate By Application
25.MENA Acrylate By Application
26.BASF, Sales /Revenue, 2015-2018 ($Mn/$Bn)
27.Arkema, Sales /Revenue, 2015-2018 ($Mn/$Bn)
28.The DOW Chemical Company, Sales /Revenue, 2015-2018 ($Mn/$Bn)
29.Evonik Industries, Sales /Revenue, 2015-2018 ($Mn/$Bn)
30.Sibur, Sales /Revenue, 2015-2018 ($Mn/$Bn)
31.LG Chem., Sales /Revenue, 2015-2018 ($Mn/$Bn)
32.Sasol Limited, Sales /Revenue, 2015-2018 ($Mn/$Bn)
33.Formosa Plastics Corporation, Sales /Revenue, 2015-2018 ($Mn/$Bn)
34.Mitsubishi Chemical Corporation., Sales /Revenue, 2015-2018 ($Mn/$Bn)