Market Size of Acrylate Monomers Industry
| 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 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 | ||||||||
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Acrylate Monomers Market Size Summary
The acrylate monomers market is poised for growth, driven by increasing demand in various sectors such as construction, automotive, and electronics. The market experienced a downturn due to the COVID-19 pandemic, which led to manufacturing shutdowns and reduced demand. However, as restrictions eased, the market began to recover, with significant growth anticipated over the forecast period. The Asia-Pacific region, particularly China and India, is expected to dominate the market due to rising construction activities and automotive production. The demand for high-performance formulations in paints and coatings, along with the growing need for polyethylene and methyl acrylate in water treatment processes, is further propelling market expansion. Despite concerns regarding the toxicity of acrylate monomers, the development of plant oil-based alternatives presents new opportunities for market growth.
Acrylate monomers are integral to producing robust and transparent plastics used in various applications, including architecture, lighting, automotive, and healthcare. These materials offer benefits such as UV resistance, weathering durability, and versatility in shaping and coloring, making them ideal for use in products like airplane windshields and outdoor signs. The automotive sector's recovery post-COVID, along with increased construction spending in regions like the United States and Asia, is expected to boost demand for acrylate monomers. The market is moderately fragmented, with key players like BASF SE, Nippon Shokubai Co. Ltd, and Evonik Industries AG actively expanding their production capabilities to meet growing global demand. Strategic collaborations and investments in production capacity are likely to enhance market dynamics, supporting the anticipated growth trajectory.
Acrylate Monomers Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Drivers
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1.1.1 Increasing Use of High Performance Formulation Paints
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1.1.2 Increasing Demand for Polyethylene
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1.1.3 Increasing Demand for Methyl Acrylate for Water Treatment Process
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1.2 Restraints
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1.2.1 Concerns Regarding the Toxic Effects of Acrylate Monomers
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1.3 Industry Value Chain Analysis
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1.4 Porter's Five Forces Analysis
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1.4.1 Bargaining Power of Suppliers
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1.4.2 Bargaining Power of Consumers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products and Services
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1.4.5 Degree of Competition
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2. MARKET SEGMENTATION (Market Size in Value)
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2.1 Type
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2.1.1 Butyl Acrylate
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2.1.2 Ethyl Acrylate
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2.1.3 Ethylhexyl Acrylate
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2.1.4 Methyl Acrylate
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2.2 Application
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2.2.1 Paints and Coatings
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2.2.2 Plastics
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2.2.3 Adhesives
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2.2.4 Printing Inks
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2.2.5 Other Applications
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2.3 Geography
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2.3.1 Asia-Pacific
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2.3.1.1 China
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2.3.1.2 India
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2.3.1.3 Japan
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2.3.1.4 South Korea
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2.3.1.5 ASEAN Countries
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2.3.1.6 Rest of Asia-Pacific
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2.3.2 North America
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2.3.2.1 United States
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2.3.2.2 Canada
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2.3.2.3 Mexico
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2.3.3 Europe
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2.3.3.1 Germany
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2.3.3.2 Italy
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2.3.3.3 United Kingdom
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2.3.3.4 France
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2.3.3.5 Spain
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2.3.3.6 Rest of Europe
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2.3.4 South America
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2.3.4.1 Brazil
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2.3.4.2 Argentina
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2.3.4.3 Rest of South America
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2.3.5 Middle-East and Africa
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2.3.5.1 Saudi Arabia
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2.3.5.2 South Africa
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2.3.5.3 Rest of Middle-East and Africa
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Acrylate Monomers Market Size 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.
