Market Overview:
The Acrylate Market size is estimated to reach $13.7 billion by 2030, growing at a CAGR of 6.7% during the forecast period 2024-2030, according to a recent report published by IndustryARC, titled, “Acrylate Market – By Chemical (Butyl Acrylate, Ethyl Acrylate, Methyl Acrylate, Ethyl Hexyl Acrylate, 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), Paints & Coatings, Consumer Goods, Synthetic Resins, Inks, Rubber, Paper and Pulp, 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, Others), By Geography - Global Opportunity Analysis & Industry Forecast, 2024-2030”
Rapid urbanization and rising use in adhesives are fueling the growth of the Acrylate industry during the forecast period.
APAC Dominated the Market in 2023:
The Asia-Pacific region holds the dominant position in the global acrylate market, accounting for the largest share of 35% in 2023. This is driven by several factors, including rapid industrialization and urbanization across key countries like China, India, and Southeast Asia. The growing demand for acrylate-based products in industries such as construction, automotive, and electronics is a direct result of these developments. Additionally, favorable government policies that encourage infrastructural growth and increased foreign investments have further accelerated market expansion. The region's thriving manufacturing sector and expanding consumer base continue to boost the demand for acrylate-based adhesives, coatings, and polymers. Technological advancements in countries like Japan and South Korea have also contributed to product innovation, strengthening the region's market leadership. As economic growth remains robust and the middle class continues to rise, the Asia-Pacific region is set to maintain its leading position, offering attractive opportunities for businesses in the acrylate industry.
Acrylate Market: Key Takeaways
Growing Construction Industry Drives Acrylate Market Growth:
The accelerating growth of the global construction industry is a key driver behind the expanding acrylate market. With rising construction activities, particularly in emerging economies, the demand for acrylate-based adhesives, sealants, coatings, and waterproofing solutions is seeing a significant increase. This surge is supported by heightened infrastructure investments, urbanization trends, and government initiatives aimed at promoting sustainable building practices. As the construction industry seeks durable and high-performance materials, acrylates are increasingly used in concrete modification, flooring, and insulation applications. Leading companies are focusing on expanding their product lines and boosting production capacity to meet the rising demand from this sector, driving better market performance and sustainable growth in the acrylate industry.
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Rising Demand in Automotive Manufacturing Boosts Acrylate Market:
The global acrylate market is experiencing a strong uptrend, fueled by the growing demand from the automotive manufacturing sector. As the automotive industry evolves and expands, the need for advanced materials like acrylates has surged. Widely used in adhesives, coatings, sealants, and interior components, acrylates are valued for their durability, flexibility, and resistance to harsh environmental conditions. This has led to an increased adoption of acrylate-based products in automotive manufacturing processes, with forecasts predicting a significant rise in demand in the coming years. Market players are capitalizing on this trend by innovating and expanding their presence, creating new opportunities for growth within the acrylate industry.
Scope of the Report:
Recent Developments:
- In September 2023, BASF launched its bio-based 2-Octyl Acrylate, produced using castor oil-based feedstock. The product offers enhanced performance and sustainability, contributing to the growing demand for eco-friendly alternatives in applications like adhesives and coatings.
- In November 2022, Arkema introduced a new range of bio-attributed acrylic monomers and specialty additives, certified under the ISCC+ framework. This innovation positions Arkema as a leader in sustainable acrylic materials, helping customers reduce greenhouse gas emissions and achieve climate goals.
Acrylate Market: Competitive Landscape
Key companies profiled in the Acrylate Market are Nippon Shokubai CO. LTD., Mitsubishi Chemical Corporation, SIBUR, BASF SE, Evonik Industries, Arkema, The Dow Chemical Company, LG Chem, SASOL Limited, Sumitomo Chemical Co., Ltd and others.
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