Isononyl Acrylate Market
Isononyl Acrylate Market (Application - Adhesives and Sealants and Paints and Coatings) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024
Press Release :
Global Isononyl Acrylate Market: Snapshot
Specialty acrylate, isononyl acrylate is derived from the chemical reaction of isononyl alcohol and acrylic acid. Research indicates that isononyl acrylate has the least glass transition temperature as compared to other acrylates. This makes them the ideal raw material for adhesives and sealants. The low glass transition temperature of isononyl acrylate also changes the rheological properties of elastic paints, thus making it a key ingredient in the production of paints and coatings. Owing to these reasons, the global isononyl acrylate market is expected to surge at a CAGR of 2.4% between 2016 and 2024. The global market is expected to reach a valuation of US$12.3 mn by the end of 2024 from US$10 mn in 2015. The four types of commercialized acrylates are methyl acrylate, ethyl acrylate, butyl acrylate, and 2-ethylhexyl acrylate (2-EHA).
The global isononyl acrylate market is expected to thrive due to the flourishing global adhesives industry. The report indicates that the global adhesives and sealants industry is expected to expand at a CAGR of 4.5% between 2016 and 2024, whereas the global adhesives tapes industry is anticipated to rise at a CAGR of 6.8% during the same period. Both of these factors are expected to spike up the demand for isononyl acrylate in the coming years. Isononyl acrylate is primarily employed for adhesives applications due to their low glass transition temperature.
Rising Production of Pressure-sensitive Tapes Keeps up Demand for Isononyl Acrylate
On the basis of application, the global isononyl acrylate market is segmented into adhesives and sealants and paints and coatings. Needless to say, the adhesives and sealants application segment is anticipated to expand at a phenomenal pace. This segment is also poised to acquire a share of 96.4% by the end 2024. Currently, the key application of isononyl acrylate is seen in the production of pressure-sensitive adhesive tapes. Thus, the rise in demand for these tapes is expected to have a positive influence on the demand for isononyl acrylate in the near future. Paints and coatings industry is also anticipated to offer lucrative opportunities to the overall market due to the growing demand for these in the booming construction industry.
Asia Pacific to Remain Dominant throughout Forecast Period
In terms of geography, the global isononyl acrylate market is segmented into North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa. Of these regions, Asia Pacific holds a dominant share in the global market. The Asia Pacific isononyl acrylate market held a share of over 80% in the overall market in 2015. The rapid industrialization and growing manufacturing activities are expected to drive the regional market in the coming years. The emerging economies of India and China are anticipated to be key consumers of isononyl acrylate during the forecast period.
Analysts anticipate that North America will also open up several incredible growth opportunities to the overall market in the coming years. The escalating demand for pressure-sensitive tapes in North America is expected to be the key growth driver for the regional market. On the other hand, the steady growth of the Europe paints and coatings industry is expected to hinder the uptake of isononyl acrylate in the coming years. Regions such as the Middle East and Africa and Latin America are also expected to remain sluggish during the forecast period.
The key players operating in the global isononyl acrylate market are BOC Sciences, Osaka Organic Chemical Industry Ltd, and Angene International Limited. The competitive landscape of the overall market is quite consolidated since due to the presence of few players.
Global Isononyl Acrylate Market: Overview
Isononyl acrylate is a specialty type of acrylate, which is obtained by the reaction of acrylic acid and isononyl alcohol. Laboratory practices have concluded that isononyl acrylate has the minimum glass transition temperature, amongst all commercially available acrylates. Rising demand for isononyl acrylate in the adhesives industry in various regions is likely to propel the isononyl acrylate market in the near future. Isononyl acrylate is also used in paints & coatings application owing to its thermal properties such as low glass transition temperature. Demand for isononyl acrylate is projected to increase in the next few years considering the growth of the global pressure sensitive adhesives market. Asia Pacific dominates the isononyl acrylate market in terms of production and demand. Japan is expected to be the key manufacturer and consumer of isononyl acrylate. Europe is the second largest consuming region. Availability of inexpensive substitutes such as 2EHA, butyl acrylate, methyl acrylate and ethyl acrylate is expected to hamper the isononyl acrylate market in the forecast period. Furthermore, the long lead time fo synthesizing isononyl acrylate is also expected to hamper the growth of isononyl acrylate during the forecast period.
This report analyzes and forecasts the market for isononyl acrylate at the global and regional level. The market has been forecast based on volume (Kilogram) and revenue (US$ Thousand) from 2016 to 2024, considering 2015 as the base year. The study includes drivers and restraints of the global isononyl acrylate market. It also covers impact of these drivers and restraints on demand for isononyl acrylate during the forecast period. The report also highlights opportunities in the isononyl acrylate market at the global and regional level.
The report includes detailed value chain analysis, which provides a comprehensive view of the global isononyl acrylate market. Porter’s Five Forces model for the isononyl acrylate market has also been included to help understand the competitive landscape in the market. The study encompasses market attractiveness analysis, wherein end-users are benchmarked based on their market size, growth rate, and general attractiveness.
The study provides a decisive view of the global isononyl acrylate market by segmenting it in terms of applications such as adhesives & sealants, and paints & coatings. These segments have been analyzed based on present and future trends. Regional segmentation includes current and forecast demand for isononyl acrylate in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
The report provides the actual market size of isononyl acrylate for 2015 and estimated market size for 2016 with forecast for the next eight years. The global market size of isononyl acrylate has been provided in terms of volume and revenue. Market volume has been defined in kilograms, while market revenue is in US$ thousand. Market numbers have been estimated based on key applications of isononyl acrylate. Market size and forecast for numerous end-users have been provided in terms of global, regional, and country level markets.
Global Isononyl Acrylate Market: Research Methodologies
In order to compile the research report, we conducted in-depth interviews and discussions with a number of key industry participants and opinion leaders. Primary research represented the bulk of research efforts, supplemented by extensive secondary research. We reviewed key players’ product literature, annual reports, press releases, and relevant documents for competitive analysis and market understanding. Secondary research includes a search of recent trade, technical writing, Internet sources, and statistical data from government websites, trade associations, and agencies. This has proven to be the most reliable, effective, and successful approach for obtaining precise market data, capturing industry participants’ insights, and recognizing business opportunities.
Secondary research sources that are typically referred to include, but are not limited to company websites, annual reports, financial reports, broker reports, investor presentations, SEC filings, Plastemart magazine, Coatings magazine, BP magazine, U.S. Patents, Institute of Sciences, FAO, internal and external proprietary databases, and relevant patent and regulatory databases such as ICIS, Hoover’s, oneSOURCE, Factiva and Bloomberg, national government documents, statistical databases, trade journals, market reports, news articles, press releases, and webcasts specific to companies operating in the market.
We conduct primary interviews on an ongoing basis with industry participants and commentators to validate data and analysis. These help validate and strengthen secondary research findings. These also help develop the analysis team’s expertise and market understanding.
Key Players Mentioned in this Report are:
The report comprises profiles of major companies operating in the global isononyl acrylate market. The global isononyl acrylate market is highly consolidated. Key players include BOC Sciences, Osaka Organic Chemical Industry Ltd, and Angene International Limited. Market players have been profiled in terms of attributes such as company overview, financial overview, business strategies, and recent developments.
The global isononyl acrylate market has been segmented as follows: