Acrylate Monomers Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 5.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Acrylate Monomers Market Analysis
The market for acrylate monomers is expected to grow at a CAGR of over 5% during the forecast period.
COVID-19 had a negative influence on the market for acrylate monomers. It was mostly owing to the enforced limits, as well as large-scale shutdowns of manufacturing units of adhesives, paints and coatings, and a variety of other products that used acrylate monomers as a primary component in manufacture. However, with rising demand for the goods, since the restrictions were lifted, the market for acrylate monomers is also growing and is likely to continue a similar trajectory over the projection period.
- Increasing investment in construction activities in Asia-pacific is likely to increase the demand for high-performance formulations in paints, which, in turn, is expected to drive the market growth. Also, the increasing demand for polyethylene and the increasing demand for methyl acrylate for the water treatment process is expected to drive the market forward.
- However, concerns regarding the toxicity of acrylate monomers are expected to restrain the market.
- Production of plant oil-based acrylic monomers is likely to act as an opportunity for the market of acrylate monomers to grow during the forecast period.
- Asia-Pacific dominated the global market with the largest consumption from countries such as China and India.
Acrylate Monomers Market Trends
This section covers the major market trends shaping the Acrylate Monomers Market according to our research experts:
Plastics to Dominate the Market
- Acrylate monomer plastics are robust and transparent, resistant to UV light and weathering. They are commonly used as a glass substitute to reduce weight, extend life, increase flexibility, reduce cost, and add attractiveness to the final goods.
- These plastics created using acrylate monomers can be colored, molded, cut, drilled, and formed. These properties exhibited by the material can make it an ideal component in many applications like airplane windshields, skylights, automobile taillights, outdoor signs, and many more.
- The major sectors for the application of these plastics are architecture and construction (window and door profiles, canopies, panels, facade design), lighting (LED lights), automotive and transportation (car windows, motorcycle windshields, interior and exterior panels, fenders), electronics, and healthcare.
- According to the Organisation Internationale des Constructeurs d'Automobiles (OICA), the global production of motor vehicles saw a 3% growth. The production in 2020, which was 77.71 million units, increased to 80.14 million units in 2021. Thus, the increasing demand for automobile units after the COVID era will likely increase the plastics market and, eventually, acrylate monomers.
- The Philippine Statistics Authority also mentioned in its annual report for 2022 that motor vehicles and motorcycle maintenance played a significant part in the country's GDP growth of 7.6% over the previous year. The segment was the main contributor, accounting for around 8.7% of overall expansion.
- According to the United Census Bureau, the total US spending in the construction sector during December 2022 was USD 1,809.8 billion. The construction sector saw an increase of about 7.7% in December compared to December 2021 on a year-on-year basis, in which the total spending was USD 1,681.0 billion. It, in turn, would have raised the need for plastic materials, paints, and coatings, assisting in expanding the acrylate monomers market.
- Major developing nations, such as China, India, ASEAN countries, and South America, are experiencing growth in construction activities and automotive production at a faster rate, owing to increasing disposable income, higher living standards, and urbanization, leading to increasing demand for acrylic products.
- In turn, all the above factors are projected to significantly impact the market during the forecast period.
Asia-Pacific Region to Dominate the Market
- Asia-Pacific accounted for the major market share of acrylate monomers and is expected to continue dominating the market during the forecast period.
- The key factors driving the Asia-Pacific market are positive trends for paints and coatings in India and China, owing to the increasing investment in the construction industry. High demand for polypropylene in China is also likely to drive the acrylic monomers market in the Asia-Pacific region.
- According to the China Association of Automobile Manufacturers (CAAM), China's automotive output increased by roughly 2.1% in 2022 compared to the previous year. In 2022, around 26.86 million automobiles were sold, compared to 26.27 million vehicles sold in 2021.
- According to the Ministry of Land, Infrastructure, Transport and Tourism (MLIT) of Japan, the total investment in the construction sector in the year 2022 was estimated to be about JPY 66,990 billion (USD 508.16 billion), which is an increase of around 0.6% as compared to the previous year.
- India also intends to achieve its aim of becoming the world's third-largest construction market by 2025. For this to happen, the country made numerous plans and investments. Around 54 global breakthrough construction technologies have been identified under a Technology Sub-Mission of PMAY-U to usher in a new age in the Indian construction technology industry, which will significantly improve the country's market growth.
- This investment growth led to an increase in construction activities and electronics, plastics, and paints, leading to an expected increase in the demand for acrylate monomers over the forecast period.
- As a result of these factors, the acrylate monomers market is expected to experience moderate growth in the initial years of the forecast period.
Acrylate Monomers Industry Overview
The acrylate monomers market is moderately fragmented, with the market share being divided among several companies. Some key players include (not in a particular order) BASF SE, Nippon Shokubai Co. Ltd, Mitsubishi Chemical Corporation, KURARAY CO., LTD., and Evonik Industries AG, among others.
Acrylate Monomers Market Leaders
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BASF SE
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NIPPON SHOKUBAI CO., LTD
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Mitsubishi Chemical Corporation
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Evonik Industries AG
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KURARAY CO., LTD
*Disclaimer: Major Players sorted in no particular order
Acrylate Monomers Market News
- May 2022: Evonik Industries AG extended a strategic distribution collaboration with Vimal Intertrade and Nordmann in India to produce its VISIOMER specialty methacrylate that will allow faster response and flexibility as support for new market trends.
- August 2021: Dow announced an investment in Methyl acrylate production in the US Gulf Coast to improve reliability and access to raw materials. The new 50-kiloton nameplate capacity of methyl acrylate will be manufactured in St. Charles Operations in Louisiana, USA, enabling global growth with a focus on supplying North American demand.
Acrylate Monomers Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
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4.1 Drivers
- 4.1.1 Increasing Use of High Performance Formulation Paints
- 4.1.2 Increasing Demand for Polyethylene
- 4.1.3 Increasing Demand for Methyl Acrylate for Water Treatment Process
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4.2 Restraints
- 4.2.1 Concerns Regarding the Toxic Effects of Acrylate Monomers
- 4.3 Industry Value Chain Analysis
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4.4 Porter's Five Forces Analysis
- 4.4.1 Bargaining Power of Suppliers
- 4.4.2 Bargaining Power of Consumers
- 4.4.3 Threat of New Entrants
- 4.4.4 Threat of Substitute Products and Services
- 4.4.5 Degree of Competition
5. MARKET SEGMENTATION (Market Size in Value)
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5.1 Type
- 5.1.1 Butyl Acrylate
- 5.1.2 Ethyl Acrylate
- 5.1.3 Ethylhexyl Acrylate
- 5.1.4 Methyl Acrylate
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5.2 Application
- 5.2.1 Paints and Coatings
- 5.2.2 Plastics
- 5.2.3 Adhesives
- 5.2.4 Printing Inks
- 5.2.5 Other Applications
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5.3 Geography
- 5.3.1 Asia-Pacific
- 5.3.1.1 China
- 5.3.1.2 India
- 5.3.1.3 Japan
- 5.3.1.4 South Korea
- 5.3.1.5 ASEAN Countries
- 5.3.1.6 Rest of Asia-Pacific
- 5.3.2 North America
- 5.3.2.1 United States
- 5.3.2.2 Canada
- 5.3.2.3 Mexico
- 5.3.3 Europe
- 5.3.3.1 Germany
- 5.3.3.2 Italy
- 5.3.3.3 United Kingdom
- 5.3.3.4 France
- 5.3.3.5 Spain
- 5.3.3.6 Rest of Europe
- 5.3.4 South America
- 5.3.4.1 Brazil
- 5.3.4.2 Argentina
- 5.3.4.3 Rest of South America
- 5.3.5 Middle-East and Africa
- 5.3.5.1 Saudi Arabia
- 5.3.5.2 South Africa
- 5.3.5.3 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
- 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
- 6.2 Market Share (%)**/Ranking Analysis
- 6.3 Strategies Adopted by Leading Players
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6.4 Company Profiles
- 6.4.1 Arkema Group
- 6.4.2 BASF SE
- 6.4.3 Dow
- 6.4.4 Evonik Industries AG
- 6.4.5 KH Chemicals
- 6.4.6 KURARAY CO., LTD
- 6.4.7 Labdhi Chemicals
- 6.4.8 Mitsubishi Chemical Corporation.
- 6.4.9 NIPPON SHOKUBAI CO. LTD
- 6.4.10 Showa Denko Materials Co., Ltd
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
- 7.1 Production of Plant Oil-based Acrylic Monomers
Acrylate Monomers Industry Segmentation
Monomers used to create acrylate polymers are acrylates based on the structure of acrylic acid, consisting of a vinyl group and a carboxylic acid ester end or a nitrile. Acrylic monomers are extremely reactive substances. Acrylic monomer solutions are commonly used with a polymer powder to create long-lasting acrylic nails. Acrylic monomers also contain ethyl methacrylate (EMA), owing to their maximum strength, rapid implementation, and superior adhesion property.
The acrylate monomers market is segmented by type, application, and geography. By type, the market is segmented into butyl acrylate, ethyl acrylate, 2-ethyl hexyl acrylate, and methyl acrylate. By application, the market is segmented into paints and coatings, plastics, adhesives, printing inks, and other applications. The report also covers the market sizes and forecasts for the acrylate monomers market in 16 countries across major regions. For each segment, the market sizing and forecasts have been done based on revenue (USD million).
| Type | Butyl Acrylate | |
| Ethyl Acrylate | ||
| Ethylhexyl Acrylate | ||
| Methyl Acrylate | ||
| Application | Paints and Coatings | |
| Plastics | ||
| Adhesives | ||
| Printing Inks | ||
| Other Applications | ||
| Geography | Asia-Pacific | China |
| India | ||
| Japan | ||
| South Korea | ||
| ASEAN Countries | ||
| Rest of Asia-Pacific | ||
| Geography | North America | United States |
| Canada | ||
| Mexico | ||
| Geography | Europe | Germany |
| Italy | ||
| United Kingdom | ||
| France | ||
| Spain | ||
| Rest of Europe | ||
| Geography | South America | Brazil |
| Argentina | ||
| Rest of South America | ||
| Geography | Middle-East and Africa | Saudi Arabia |
| South Africa | ||
| Rest of Middle-East and Africa |
Acrylate Monomers Market Research FAQs
What is the current Acrylate Monomers Market size?
The Acrylate Monomers Market is projected to register a CAGR of greater than 5% during the forecast period (2024-2029)
Who are the key players in Acrylate Monomers Market?
BASF SE, NIPPON SHOKUBAI CO., LTD, Mitsubishi Chemical Corporation, Evonik Industries AG and KURARAY CO., LTD are the major companies operating in the Acrylate Monomers Market.
Which is the fastest growing region in Acrylate Monomers Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Acrylate Monomers Market?
In 2024, the North America accounts for the largest market share in Acrylate Monomers Market.
What years does this Acrylate Monomers Market cover?
The report covers the Acrylate Monomers Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Acrylate Monomers Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Acrylate Monomers Industry Report
Statistics for the 2024 Acrylate Monomers market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Acrylate Monomers analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
