Growing Demand from Automotive Industry
According to our latest market study on “Butyl Acrylate Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Application (Paints and Coatings, Adhesives and Sealants, Chemical Synthesis, Plastic Additives, Textiles, and Others),’’ the 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.
Butyl acrylate is a foremost type of acrylic ester, which is extensively preferred for its sturdiness, hardness, high-temperature resistance, and high strength. It is mainly used for manufacturing thermoplastic compounds which are further used as a raw material for fiber processing agents, adhesives, coatings, inks, plastics, acrylic rubber, elastomers, and emulsions. Pressure-sensitive adhesives contain butyl acrylate. Other adhesive applications of butyl acrylate are found in the textile and construction industries. Textile industry products which contain butyl acrylate are warp sizing, fibers, thickeners, and back coat formulations. Butyl acrylate is used to produce acrylic & water-borne dispersions, water-borne industrial & architectural paints, industrial & architectural coatings, varnishes, textiles, and other products. It is used in a wide range of end-use industries such as aerospace, architectural, automotive, ceramics, corrugated boxes, industrial, textiles, and paper & packaging.
The growing demand for adhesives and sealants from the automotive industry is driving the market. The booming investment in the automotive industry to cater the growing demand is fueling the growth of the butyl acrylate market. Advanced sealants and adhesives is used in assembling vehicles that provides mechanical fasteners which helps in designing modern vehicles. The adhesives and sealants being used in the automotive industry are composed of synthetic materials. Their raw material components include ethylene, propylene, epoxide resins, amine-based resins, acrylics, polyester resins, vinyl acetate monomers, and many others. Thus, the increasing production of automotive across the globe is fueling the consumption of adhesives, coatings, and sealants, thereby driving the butyl acrylate market.
Butyl acrylate is not only limited to paint and coating applications, but it also includes leather finishes, inks, caulks, multilayer films, textiles, and papers. It is used in adhesive and as a polymeric plasticizer for hardening resins. It is used as a raw material for producing flexible acrylic polymers, copolymers, fiber processing agents, plastics, acrylic rubber, and emulsions.
The key market players or manufacturers in the global 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.
Impact of COVID-19 Pandemic on Butyl Acrylate Market
The COVID-19 pandemic drastically altered the status of the chemicals & 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. Industries such as automotive, packaging, and textile had been impacted by the distortion in operational efficiencies and disruptions in the valued chains attributable to the sudden closure of national and international boundaries. 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, it had negatively impacted the supply and demand across vertical of end use industries which had hampered the butyl acrylate market. The outbreak distorted operational efficiency and disrupted the valued chains due to the sudden shutdown of national and international borders, creating revenue loss. The disturbed valued chain had had a negative impact on raw material supply. For example, global chemical production witnessed a decline of nearly 3% in March 2020. The chemical industry witnessed disruptions and production declines since February 2020. Chemical manufacturers are planning to make well-informed strategic changes and restructure the businesses to navigate the uneven demand scenario until the threat of the pandemic is over and industry dynamics return to pre-outbreak levels.
Butyl Acrylate Market Breakdown – by Region, 2020
Butyl Acrylate Market Size, Share and Industry Trends -2028
Download Free SampleButyl Acrylate Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Application (Paints and Coatings, Adhesives and Sealants, Chemical Synthesis, Plastic Additives, Textiles, and Others)
The report segments the Butyl Acrylate market as follows:
Based on application, the market is segmented into paints and coatings, adhesives and sealants, chemical synthesis, plastic additives, textiles, and others. Based on geography, the market is segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM).
Contact Us
Phone: +1-646-491-9876
Email Id: sales@theinsightpartners.com