04-Jan-2023 | Facts and Factors
According to Facts and Factors, the global acrylic ester market size was worth around USD 9.15 billion in 2021 and is predicted to grow to around USD 11.5 billion by 2030 with a compound annual growth rate (CAGR) of roughly 6.21% between 2022 and 2030.
In the chemistry field, esters are derivative compounds of oxoacid and are produced by replacing at least one -OH or hydroxyl group. These are derived by replacing the -OH group with an -O-R or alkoxy group. Typically, esters have a pleasant smell and are known as high-performing solvents with applications in various end-user verticals. They have also been termed the largest class of synthetic lubricants that are sold for commercial purposes.
Browse the full “Acrylic Ester Market Size, Share, Growth Analysis Report By Application (Surface Coating, Adhesives & Sealants, Plastic Adhesives, Textiles, and Others), By Type (Ethyl Acrylate, Methyl Acrylate, Butyl Acrylate, 2- Ethyl Hexyl Acrylate, and Others), and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2022 – 2030" report at https://www.fnfresearch.com/acrylic-ester-market
Acrylates are defined as esters, salts, and conjugated bases derived from acrylic acid, an organic compound with the formula CH2. Acrylic acid consists of a vinyl group and is the simplest form of unsaturated carboxylic acid. The vinyl group in acrylic acid is directly connected to the carboxylic acid terminus. Methacrylates and acrylates are the most common monomers used to produce acrylate polymers. They are influenced by the structure of acrylic acid. For instance, methyl methacrylate is produced by replacing the carboxylic acid hydrogen and one vinyl group with methyl groups.
The global acrylic ester market is projected to grow owing to the increasing applications of chemical compounds in the plastic adhesives and sealants industry. A substance that can potentially block the flow of fluids through any opening in the material is known as a sealant. They are different from adhesives which are required to stick two surfaces together; however, some sealants also have adhesive properties. The growing demand for acrylic ester in the construction sector due to the rising adoption of sealants to conduct new construction or restore previously constructed units is projected to be the leading cause of the high production of acrylic ester.
The chemical compound is known to provide various benefits to the end polymers produced using acrylic ester. Some of these properties include extreme resistance to degradation and heat along with high weather durability making them an ideal choice in the adhesives and sealants market. The growing demand for monomers in the detergent segment may further help the global market register a higher CAGR. The growing population, increasing product innovation, rising number of players, and intensive marketing strategies adopted by the players are some of the major reasons for the growth and high penetration of the detergent industry. The high CAGR may further be driven by the use of monomers in the textile industry, for instance, the use of the compound to produce high-quality carpets.
One of the major restraining factors with the use of extremely corrosive forms of acrylic ester can cause skin irritation and give rise to problems in the respiratory tract or nasal passages. Rodens, when exposed to methyl and ethyl acrylates in quantities of 5 to 300 parts per million can damage the olfactory epithelium along with degeneration, inflammation, and loss of receptor cells. Studies have also found that although there is no direct correlation between health factory workers directly working at the production site, individuals who had never smoked were at higher risk of dysfunction in the olfactory areas.
The increasing application as an oil additive may provide growth opportunities while the limited information on the health impact of the acrylic ester may pose a major challenge.
Segmental Overview
The global acrylic ester market is segmented based on application, type, and region
Based on application, the global market divisions are surface coating, adhesives & sealants, plastic adhesives, textiles, and others. In 2021. The global market registered the highest growth in the adhesives & sealants segment. The increase in restoration activities as well as the building of new residential and commercial buildings propelled the demand for sealants and are projected to continue the same trend during the forecast period. To get the Eiffel tower ready for the 2024 Paris Olympic Games, France launched a restoration project of USD 60 million, as quoted by France 24.
Based on type, the global market divisions are ethyl acrylate, methyl acrylate, butyl acrylate, 2-ethyl hexyl acrylate, and others. The growth is projected to be driven by methyl acrylate due to the high-end-user applications of the monomer, especially in the biomedicine segment. As per official data, around 200,000 tons of methyl acrylate is produced every year. The demand is high because it is used as a precursor to manufacture carpets.
Regional Overview
- Global Acrylic Ester Market To Be Dominated By China During The Forecast Period
Asia-Pacific is projected to lead the global acrylic ester market owing to the growing investments in the chemical industry across regions like India and China. The former currently leads the chemical industry in global rating. Growth in China is attributed to the growing number of investments and entry of international businesses in the Chinese chemical sector.
For instance, in March 2021, BASF Integrated Base (Guangdong) Co., Ltd. initiated a project with an investment of USD 55.36 billion yuan to build a construction site in Donghai Island Petrochemical Industrial Park. The growing demand for acrylic ester in India's growing textile industry may help generate more revenue.
Report Scope
Report Attribute |
Details |
Market Size in 2021 |
USD 9.15 Billion |
Projected Market Size in 2030 |
USD 11.5 Billion |
CAGR Growth Rate |
6.21% CAGR |
Base Year |
2021 |
Forecast Years |
2022-2030 |
Key Market Players |
LG Chem, Arkema, OJSC Sibur, Nippon Shokubai, DowDuPont, Mitsubishi Chemical, and others. |
Key Segment |
By Application, Type, and Region |
Major Regions Covered |
North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa |
Purchase Options |
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Competitive Landscape
The global acrylic ester market is led by players like LG Chem, Arkema, OJSC Sibur, Nippon Shokubai, DowDuPont, Mitsubishi Chemical, and others.
Recent Developments:
- In September 2021, BASF announced the increase in prices of acrylic and styrene acrylic products due to inflating raw material prices
- In July 2021, Solvay launched a new shortstop inhibitor solution to aid the safe transportation and storage of acrylic monomer
The global acrylic ester market is segmented as follows:
By Application
- Surface Coating
- Adhesives & Sealants
- Plastic Adhesives
- Textiles
- Others
By Type
- Ethyl Acrylate
- Methyl Acrylate
- Butyl Acrylate
- 2- Ethyl Hexyl Acrylate
- Others
By Region
- North America
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Nordic Countries
- Benelux Union
- Belgium
- The Netherlands
- Luxembourg
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Southeast Asia
- Indonesia
- Thailand
- Malaysia
- Singapore
- Rest of Southeast Asia
- Rest of Asia Pacific
- The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
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