According to the latest report published by Credence Research, Inc. “Global Acrylate Market By Product Type (Butyl Acrylate, Ethyl Acrylate, Methyl Acrylate, 2- Ethyl Hexyl Acrylate), By Application (Paints & Coatings, Adhesives & Sealants, Chemical Synthesis, Plastic Additives, Textiles, Others), By End-Use Industry (Packaging, Consumer Goods, Building & Construction, Automotive, Others) – Growth, Future Prospects & Competitive Analysis, 2018 – 2026,” the global acrylate market accounted for US$ 7,280 Mn in 2017 and expected to reach US$ 12,616 Mn by 2026, expanding at a CAGR of 6.3% from 2018 to 2026.
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Market Insights
The global acrylate market expected to reach US$ 7,280 Mn in 2017 and expected to reach US$ 12,616 Mn by 2026, expanding at a CAGR of 6.3% from 2018 to 2026.The global acrylate market is witnessed a higher growth rate in recent years and is expected to attain significant market size in upcoming years. Increasing end-use industries and applications of acrylate has strengthened the growth of global acrylates market over the past few years. Acrylate materials possess very useful properties such as glossiness, flexibility and hardness, which are very useful wide array of applications in various end-use industries.
The acrylate market is highly fragmented owing to the presence of various large and small companies. Major players undertake extensive R&D programs to standardize their products whereas small companies provide handful of specialty products to end-users. In global acrylate market, vendors compete in terms of product differentiation, price, promotion and mode of distribution. The competition in the market projected to intensify with an increase in consumer awareness and product innovations among others.
The global acrylate market is segmented based on applications into Paints & Coatings, Adhesives & Sealants, Chemical Synthesis, Plastic Additives, Textiles and Others (Paper & Pulp, Leather Processing, etc.). Among the considered segments, packaging dominated the market in terms of revenue contribution, followed by chemical synthesis and plastic additives. In addition, packaging segment expected to record significant CAGR during the forecast period.
Based on geographical distribution, global acrylate market segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa. In the base year 2017, Asia Pacific was observed as the largest market for acrylate and furthermore expected to witness highest CAGR in upcoming years owing to presence of developing economies such as China, Japan and India.
Globally acrylates manufacturers are concentrated in Asia Pacific and Europe region. Arkema, BASF SE, Evonik Industries, Formosa Petrochemical Corporation, LG Chem, Mitsubishi Chemical Corporation, Nippon Shokubai Co. Ltd., SASOL Ltd., SIBUR and The Dow Chemical Company are few major manufacturers in the global acrylate market.
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