According to a new research report titled ‘Butyl Acrylate Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026 by Transparency Market Research (TMR), the global butyl acrylate market is projected to expand at a CAGR of 5.0% from 2018 to 2026. In terms of volume, the global butyl acrylate market is expected to reach 4,840.3 kilo tons by 2026. Growth of automotive and construction industries drives the global butyl acrylate market. The butyl acrylate market in Asia Pacific is estimated to expand at a CAGR of 5.2% during the forecast period owing to the presence of a large number of acrylic acid and acrylic ester manufacturers in the region. In terms of purity, the high purity segment held significant share of the market in 2017.
Based on purity, the global butyl acrylate market has been divided into high purity and common purity. Butyl acrylate has outstanding properties which makes it a preferred material for manufacturing water-based coatings and adhesive materials. Butyl acrylate has high strength and rigidity, excellent chemical resistance, and thermal endurance for use in high temperature applications. High purity butyl acrylate products are used in formulating resins and engineering plastics for car interiors and engine components. Butyl acrylate with common purity monomers are lab scale chemical synthesis of polymers.
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Based on application, the butyl acrylate market has been segregated into paints & coatings, adhesives & sealants, chemical synthesis, plastic additives, textiles, and others. The others segment includes pulp & paper applications and leather processing. The paints & coatings segment holds major share of the butyl acrylate market. This trend is likely to continue during the forecast period owing to its applications in construction and automotive industries and rise in replacement of existing coatings with water-based paints & coatings. Butyl acrylate has properties, such as high hardness, durability, and enhanced weather ability, which make the material a preferred choice for automotive coating applications. The adhesives & sealants segment held large share of the global butyl acrylate market in 2017. Rise in usage of butyl acrylate to manufacture adhesives & sealants is attributed to the increase in demand for pressure adhesive tapes for packaging applications to replace traditional plastics such as PVC. This is expected to boost the demand for butyl acrylate in adhesives & sealants in the near future. The plastic additives segment held considerable share of the butyl acrylate market in 2017. Butyl acrylate resins are used to manufacture switchgear, connector technology, and electronics related products, as these are heat-resistant and VOC free resins.
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The global butyl acrylate market has been divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific is anticipated to hold a prominent share of the market owing to the growth in automotive and construction industries. This, in turn, is increasing the usage of butyl acrylate to manufacture water-based coatings which are likely to replace solvent-based coatings. Butyl acrylate monomers induced adhesive and resin modifiers are extensively used in building construction materials. The market in North America is anticipated to expand at a considerable pace, followed by Asia Pacific. In 2017, ARKEMA’s planned to increase its butyl acrylate production capacity in the U.S. This, in turn, is likely to drive the demand for butyl acrylate in the country. Expansion of the industrial textile & apparel segment in China is a key driver of the butyl acrylate market in Asia Pacific. Demand for butyl acrylate in Europe is high due to the presence of large number of automobile manufactures in the region.
The report comprises profiles of major companies operating in the global butyl acrylate market. Key players operating in the market include ARKEMA S.A., BASF S.E, NIPPON SHOKUBAI CO., LTD, DOWDUPONT INC., LG CHEM LTD., TAOGOSEI CO., LTD., Mitsubishi Chemical Corporation, and SunVic Chemical Holdings Corporation. Other prominent players in the butyl acrylate market include Formosa Plastics Corporation, Shenyang Chemical Co., Ltd, OSWAL UDHYOG, Haihang Industry Co., Ltd., Shanghai Huayi Acrylic Co., Ltd., Wanhua Chemical Group Co., Ltd., and China National Offshore Oil Corporation. On April 26, 2018, Mitsubishi Chemical Corporation concluded an agreement with Indian Oil Corporation Limited over the licensing of its proprietary technology for manufacturing acrylic acid and acrylic acid esters, such as butyl acrylate and 2-ethyl hexyl acrylate, in India.
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