The increasing number of construction and building activities and the rising need for paint and coatings are prime factors augmenting the growth of the global butyl acrylate market. Butyl acrylate is primarily used for making acrylic polymers which are further used in dispersing or formulating inks, paints, and adhesives.
Paints and Coatings Segment Holding Highest Shares Owing to increasing Number of Construction Activities
In terms of application, the global butyl acrylate market is classified into textiles, plastic additives, chemical synthesis, paints and coating, adhesives and sealants, and others. Among these, the paint and coatings segment is holding the highest shares on account of their rising number of building and construction activities, especially in the emerging economies.
According to a report by Transparency Market Research, the global butyl acrylate market is projected to reach a value of USD 8.1 billion by the end of 2026 by rising at a CAGR of 5.0%. The forecast period is set between 2018 and 2026.
Wide Applications of Butyl Acrylate in Sealants, Glues, and Paints will Propel Growth
Butyl acrylate is a significant acrylic monomer from the acrylic esters bunch, which is gotten from acrylic corrosive for giving execution properties to a wide scope of polymers. Butyl esters are used in different businesses including paints and coatings, glues and sealants, materials, plastic added substances, and paper treatment. Butyl acrylate monomers give a few advantageous properties to polymeric materials, for example, shading dependability, heat opposition, maturing obstruction, lucidity, low-temperature adaptability, improved climate capacity just as corrosive and base opposition. Butyl acrylate has qualities like hardness, toughness, shabbiness, and temperature protection from changing degrees.
Interest in butyl acrylate is driven basically by GDP, because of its high measure of utilization in paints, surface coatings, cement, and sealants in development and auto businesses. Thusly, interest for butyl acrylate is relied upon to be high in non-industrial nations, which are expected to observe an ascent of GDP at a higher development rate. This, thus, is relied upon to help the auto and development areas in these nations.
Vehicle deals are ascending in arising economies. The locale is seeing a significant inundation of first-time purchasers and a critical number of extravagance purchasers as well, thereby augmenting the growth of this market. Butyl acrylate is broadly utilized as a crude material for assembling designed automotive items. Items, for example, acrylic elastomers are ascending popular in the car business due to parts like hoses, gaskets, and dampers. These are significantly more savvy when contrasted with the options fabricated utilizing fluorocarbon polymers. Also, they are great for obliging the automotive business' interest for withstanding high temperature and hydrocarbon oils. Acrylics are additionally unmistakable in printing inks and automotive coatings, which require fast drying instruments. Consequently, they are utilized as enamels and coatings.
Demographically, the global market for butyl acrylate is dominated by the Asia Pacific with about 50% share, followed closely by North America, and then Europe. North America is expected to overcome the competition and emerge dominant on account of the presence of top-class acrylic esters players and the rising demand for water-based coatings. This, coupled with the increasing limitations on VOC emission plastics is likely to help North America emerge dominant in the coming years.
The worldwide butyl acrylate is seeing a few developments by central participants, particularly in the space of coatings, glues, and automotive. Central participants in the market are additionally putting resources into redesigning their offices to satisfy rising needs sooner rather than later. For instance, in 2018, Nippon Shokubai declared its arrangements to set up another acrylic corrosive plant in Indonesia.
The information presented in this review is based on a report by Transparency Market Research titled, “Butyl Acrylate Market (Purity - High Purity, Common Purity; Application - Paints and Coatings, Adhesives and Sealants, Chemical Synthesis, Plastic Additives, Textiles, Others (Pulp, Paper, Leather Processing)) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 – 2026.”
Notable players of the global butyl acrylate market include Mitsubishi Chemical Corporation, BASF S.E, China National Offshore Oil Corporation, SunVic Chemical Holdings Corporation, LG CHEM LTD., Haihang Industry Co., Ltd., OSWAL UDHYOG, NIPPON SHOKUBAI CO., LTD, DOWDUPON INC., Shenyang Chemical Co., Ltd, ARKEMA S.A., Shanghai Huayi Acrylic Co., Ltd., Wanhua Chemical Group Co., Ltd., TAOGOSEI CO., LTD., Formosa Plastics Corporation.
The global butyl acrylate market is classified based on:
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