ALBANY, N.Y., November 23, 2017 (Newswire.com) - A recent business intelligence study by Transparency Market Research (TMR) has the global acrylate monomers market as highly sensitive to the product cost and hence, most of the players engaged in this market are aspiring to develop formulations that overcome this hindrance. That being said, the TMR report identifies The Dow Chemical Company, Arkema S.A., and Evonik Industries as some of the companies who are ahead of the curve and resisting this trend of low cost products, emphasizing on quality and hoping for a substantial uptake by end-users. Often, manufacturers of acrylate monomers will also indulge in partnerships and collaborations with original equipment manufacturers (OEMs), merchandisers, and designers in order to develop products in a cost-effective manner.
As per the projections of the TMR report, the demand in the global acrylate monomers market will increment at a notable CAGR of 5.4% during the forecast period of 2017 to 2025. By the end of the forecast period, 2025, the total revenue in this market is estimated to reach a valuation of US$11,112.3 mn, considerably up from its evaluated worth of US$6,987.9 mn in 2016. In the near future, the prominent players operating in the global acrylate monomers market are expected to aggressively expand their horizons into different regions as there is widespread demand that is yet to be met.
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Butyl Acrylate Monomer Driven by Paint and Coating Applications
Product-wise, the TMR report segments the global acrylate monomers market into Ethyl Acrylate Monomer, Methyl Acrylate Monomer, Butyl Acrylate Monomer, 2 Ethyl hexyl acrylate Monomer (2-EHA Monomer), and Others, and picks out butyl monomers are most in-demand segment, gaining significant application for paint and coatings. On the other hand, the methyl acrylate monomers segment is also projected for healthy growth in the near future as it is generally used for special chemical applications. Application-wise, the report bifurcates the global acrylate monomers market into paints and coatings, adhesives and sealants, printing inks, plastics, and others.
Geographically, Asia Pacific has emerged as most profitable region, contributing 40% of the total demand in the global acrylate monomers market, which was a reflection of a growing number of end-user industries such as automotive, construction, and textile in the emerging economies of China and India. These two nations are expected to maintain Asia Pacific as the most lucrative region throughout the duration of the forecast period, although the North American acrylate monomers market is also projected for a healthy growth rate.
Emerging Economies in Asia Pacific Sustaining Strong Demand
The global acrylate monomers market is gaining traction from a number of factors, such as increasing usage of acrylates in adhesives, the prosperity of the construction and automotive industries where high quality products are now being preferred by consumers as a result of increasing disposable income, and high demand of acrylates in water-based emulsions. Acrylate monomers offer features such as UV curability, adhesiveness, weather resistance, superior durability, high flexibility, and gloss, which makes them highly suitable for a number of applications.
On the other hand, factors such as environmental hazards as a result of its manufacturing, volatility of raw material prices, and proven hazards to health are some of the factors obstructing the prosperity of the global acrylate monomers market. Nevertheless, the emerging economies that are experiencing rapid construction of infrastructure will continue to offer new opportunities for the vendors operating in this market. In addition to that, vendors will also be concentrating on the advent of bio-based acrylic acid in order to maintain their stronghold over the market.
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The information presented in this review is based on a Transparency Market Research report, titled, “Acrylate Monomers Market (Product - Butyl Acrylate Monomer, Methyl Acrylate Monomer, 2-Ethyl Hexyl Acrylate Monomer, and Ethyl Acrylate Monomer; Application - Paints & Coatings, Adhesives & Sealants, Plastics, and Printing Inks) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 – 2025.”
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Source: Transparency Market Research