The Butyl Acrylate market is projected to reach US$ 4,608.06 million by 2028 from US$ 3,356.74 million in 2021; it is expected to register a CAGR of 4.6% from 2021 to 2028.
There is a significant increase in demand for butyl acrylate due to the growing requirement for adhesives, coatings, paints, and sealants from automotive and construction industries. The growing investment in the chemical industry and increasing demand for water-based coatings for applications such as coating for interiors of fly ash hoppers, coal cars, plastic pellet hoppers, refuse containers, trucks, and architectural and printing inks is driving the market. Butyl acrylate is used to produce copolymers and flexible acrylic polymers, which are used in adhesives, caulks, and sealants. The butyl acrylate used in polymer helps to improve tack, impact resistance, flexibility, and overall durability. It is used in various applications such as acrylic resins, packaging adhesives, structural adhesives, latex paints, caulks & sealants, concrete coatings, and elastomeric coatings.
The Butyl Acrylate market in Asia Pacific is expected to grow at the highest CAGR during the forecast period. Many Asia Pacific countries, including Australia, China, India, and Japan, have many manufacturing industries such as building & construction, automotive, and textile. China is the largest consumer of butyl acrylate, owing to the increasing usage of paints, coatings, sealants, and adhesives from the building & construction industry. Countries in Asia Pacific such as Japan and India are significantly investing in building and constructional activities such as building sustainable infrastructure, smart cities, commercial complexes, and residential buildings. The increasing investment in the industrial sector is also accelerating market growth. Thus, countries in Asia Pacific are expected to drive the butyl acrylate market over the forecast period.
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Butyl Acrylate Market: Strategic Insights
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Butyl Acrylate Market: Strategic Insights
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Impact of COVID-19 Pandemic on Butyl Acrylate Market
The COVID-19 pandemic drastically altered the status of the chemical & materials sector and negatively impacted the growth of the butyl acrylate market. The implementation of measures to combat the spread of the virus aggravated the situation and impacted the growth of several industrial sectors. The sudden distortion in operational efficiencies and disruptions in the value chains attributable to the sudden closure of national and international boundaries impacted industries such as automotive, construction, and packaging. The significant decline in the growth of several industrial sectors significantly impacted the demand for butyl acrylate in the global market. Due to the COVID-19 pandemic, the market dynamics had negatively influenced the supply and demand trend for the butyl acrylate market. The chemical industry witnessed disruptions and production declines since February 2020. The chemical manufacturers are planning to make well-informed strategic changes and restructure the businesses to cater to the uneven demand scenario until the threat of the pandemic is over and industry dynamics return to pre-outbreak levels.
Market Insights
Growth in Construction Industry
The increasing investment in the building & construction industry augments the usage of adhesives, paints, and sealants, which helps drive the butyl acrylate market. The growth of the butyl acrylate market is primarily attributed to the increase in urbanization rate, which gives rise to a large number of construction projects. For instance, in April 2021, DuPont announced an investment of around US$ 30 million to build a new manufacturing facility in Zhangjiagang, Jiangsu Province, in East China. In addition, in December 2020, the government of Brazil planned to invest US$ 27 billion in building infrastructure, which includes highway, port, railway, and airport segments. Furthermore, the Government of Chile had planned to increase the number of construction projects with an investment worth US$ 5.2 billion. Thus, booming investment in the building & construction industry is augmenting the usage of paints, coatings, and adhesives, which is anticipated to drive the market.
Application Insights
Based on application, the butyl acrylate market is segmented into paints and coatings, adhesives and sealants, chemical synthesis, plastic additives, textiles, and others. The paints and coatings segment is anticipated to grow, owing to the growing investment in automotive and building & construction industries. The adhesives and sealants segment is also anticipated to grow, owing to the increasing usage in automotive hose bonding, core plug sealing, heat exchanger sealing, and filter end cap bonding, among other applications, which is expected to drive the butyl acrylate market over the forecast period.
The key players operating in the butyl acrylate market include EXXON MOBIL CORPORATION; Arkema; Mitsubishi Chemical Corporation; OSWAL UDHYOG; NIPPON SHOKUBAI CO., LTD.; Indenta Chemicals Pvt. Ltd.; TCI Chemicals Pvt. Ltd.; Wanhua Chemical Group Co., Ltd.; LyondellBasell Industries Holdings B.V.; and Sasol. The key companies adopt strategies such as mergers and acquisitions and research and development to expand their customer base and gain significant share in the global market, allowing them to maintain their brand name globally.
Report Spotlights
- Progressive industry trends in the butyl acrylate market to help players develop effective long-term strategies
- Business growth strategies adopted by developed and developing markets
- Quantitative analysis of the butyl acrylate market from 2018 to 2028
- Estimation of global demand for butyl acrylate
- PEST analysis to illustrate the efficacy of buyers and suppliers operating in the industry
- Recent developments to understand the competitive market scenario
- Market trends and outlook, as well as factors driving and restraining the growth of the butyl acrylate market
- Assistance in the decision-making process by highlighting market strategies that underpin commercial interest, leading to the market growth
- The size of the butyl acrylate market size at various nodes
- Detailed overview and segmentation of the market, as well as the butyl acrylate industry dynamics
- Size of the butyl acrylate market in various regions with promising growth opportunities
Butyl Acrylate Market – by Application
Paints and Coatings, Adhesives and Sealants, Chemical Synthesis, Plastic Additives, Textiles, and Others
Butyl Acrylate Market Regional Insights
The regional trends and factors influencing the Butyl Acrylate Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Butyl Acrylate Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
- Get the Regional Specific Data for Butyl Acrylate Market
Butyl Acrylate Market Market Report Scope
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 3.36 Billion |
| Market Size by 2028 | US$ 4.61 Billion |
| Global CAGR (2021 - 2028) | 4.6% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Application
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
Market Players Density: Understanding Its Impact on Business Dynamics
The Butyl Acrylate Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Butyl Acrylate Market are:
- EXXON MOBIL CORPORATION
- Arkema
- Mitsubishi Chemical Corporation
- OSWAL UDHYOG
- NIPPON SHOKUBAI CO LTD
Disclaimer: The companies listed above are not ranked in any particular order.
- Get the Butyl Acrylate Market top key players overview
Company Profiles
- EXXON MOBIL CORPORATION
- Arkema
- Mitsubishi Chemical Corporation
- OSWAL UDHYOG
- NIPPON SHOKUBAI CO., LTD.
- Indenta Chemicals Pvt. Ltd.
- TCI Chemicals Pvt. Ltd.
- Wanhua Chemical Group Co., Ltd.
- LyondellBasell Industries Holdings B.V.
- Sasol
- Historical Analysis (2 Years), Base Year, Forecast (7 Years) with CAGR
- PEST and SWOT Analysis
- Market Size Value / Volume - Global, Regional, Country
- Industry and Competitive Landscape
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Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Application
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
Increasing usage of butyl acrylate in paints, coatings, adhesives and sealants in building & construction industry along with growing production of automotive are the key factors driving the market growth over the forecast period. With the growing expansion of building & construction industry wherein paints, coatings and sealants have gained significant momentum is fueling the butyl acrylate market over the projected period. Growing investment in automotive industry owing to rise in awareness for emission free vehicles is augmenting the automotive production which is further driving the market growth.
In 2020, China held the largest market share in the global butyl acrylate market. China is the world’s largest vehicle market across the globe, as per the International Trade Administration (ITA). The Chinese government has taken several initiatives for automobile manufacturers for augmenting the production capacity of the country to 35 million by 2025. The growing prospects of construction industry in China is further fueling the market growth. For instance, in 2019, the government of China had invested US$ 1.9 billion in 13 public housing projects. Thus, increasing construction activities and automotive production is anticipated to propel the butyl acrylate market in China in the coming years.
Development of bio based butyl acrylate, wherein leading research institutes are working to make it more sustainable is trending the market dynamics. In addition, growing production of automotive in post pandemic scenario is also trending the market outlook during the forecast period.
In 2020, the paints and coatings segment accounted for the largest market share. The growth of the segment is primarily attributed to high quality and durable acrylic emulsions which have revolutionized the paint industry. The usage of butyl acrylate in solvent-born coatings, interior and exterior water-based paints, emulsion paints, and printing inks for applications that requires quick drying rates such as auto based lacquers and industrial coatings. Thus, wide scope application of paints and coatings across vertical of industries is driving the butyl acrylate market growth over the forecast period.
The major players operating in the global butyl acrylate market are EXXON MOBIL CORPORATION; Arkema; Mitsubishi Chemical Corporation; OSWAL UDHYOG; NIPPON SHOKUBAI CO., LTD.; Indenta Chemicals Pvt. Ltd.; TCI Chemicals Pvt. Ltd.; Wanhua Chemical Group Co., Ltd.; LyondellBasell Industries Holdings B.V. and Sasol.
In 2020, Asia Pacific accounted for the largest share of the global butyl acrylate market. Increasing investment in construction & automotive industry has propelled the demand of butyl acrylate in the region. In addition, growing investments by governments in infrastructural development projects such as smart cities, sustainable infrastructure, airports, and public transit systems is driving the demand for butyl acrylate in Asia Pacific region.
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The List of Companies - Butyl Acrylate Market
- EXXON MOBIL CORPORATION
- Arkema
- Mitsubishi Chemical Corporation
- OSWAL UDHYOG
- NIPPON SHOKUBAI CO LTD
- Indenta Chemicals Pvt. Ltd
- TCI Chemicals Pvt. Ltd
- Wanhua Chemical Group Co., Ltd
- LyondellBasell Industries Holdings B.V.
- Sasol
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