New York, NY -- (SBWIRE) -- 12/22/2020 -- Acrylic monomers confer highly reactive chemicals with specific properties, such as flexibility, rigidity, rapidity, toughness, water resistance, elasticity, luster, superior adhesion, and several non-ionic and hydrophilic properties. One of the exclusive applications of these chemicals is that they serve as intermediates in the manufacturing processes of other materials. The global acrylic monomers market is predicted to accrue around USD 12.23 billion by 2027, registering a significant CAGR of 5.7%.

Increasing the production of automotive and the demand for long-lasting products are the driving factors for the growth of the market. In terms of application, perhaps the most prevalent use of acrylic monomer is in automotive seals and gaskets owing to the increasing need for oil-resistant rubber materials. The growing need for lower fuel consumption and rising combustion temperature in the engine compartment also has a positive impact on the market.

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Market Drivers

The global market expansion is supported by a slew of factors conducive to market growth. These factors include the growing usage of acrylic monomers in surface coatings, paints & pigments, adhesives & sealants, printing inks, acrylic textiles, and surfactants; increasing application in detergents, flocculants, thickeners, and dispersants; surging application in high-formulation paints, growing demand for acrylates in the construction, paints & coatings, plastics, automotive, and textiles industries; burgeoning consumption of polyethylene in the packaging sector; escalating automotive production; fast-paced urbanization; expanding populace; and the changing lifestyles. Furthermore, the augmenting demand for colored and shatter-resistant building windows, bulletproof security barriers, skylights, etc., the increasing use in making disposable diapers and sanitary napkins, and the wide-ranging medical applications of methacrylate like IV tubing connectors, baby incubators, heart valves, and dental prosthetics are expected to bolster the market growth further.

Companies considered and profiled in this market study:

New Japan Chemical Co Ltd., BASF SE, The Dow Chemical Company, Hitachi Chemical Co. Ltd, Evonik Industries AG, Kuraray Co. Ltd, Arkema Group, Nippon Shokubai Co. Ltd, KH Chemicals, and Mitsubishi Chemical Corporation, among others.

For the purpose of this report, Reports and Data have segmented the global Acrylic Monomers Market on the basis of Product, Application, End User, and region:

Product Outlook (Revenue, USD Billion; 2017-2027)

Methyl Acrylate Monomers
Butyl Acrylate Monomers
Ethyl Acrylate Monomers
2 Ethyl Hexyl Acrylate Monomers (2-EHA Monomers)
Others

Application Outlook (Revenue, USD Billion; 2017-2027)

Adhesives & Sealants
Printing Inks
Paints & Coatings
Plastics
Others

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End-User Outlook (Revenue, USD Billion; 2017-2027)

Automotive
Textiles
Construction
Oil and Gas
Others

Regional Scenario:

The Asia Pacific region is projected to account for the largest market share, owing to the region's thriving construction, automotive, and packaging sectors, the rising demand for consumer electronics, the presence of state-of-the-art healthcare infrastructure, and the immense population. The region is said to have led the global acrylic monomers market in 2019, with a whopping 46.4% revenue share.

Further key findings from the report suggest:

Methacrylate monomers are also used for composing methacrylate adhesives, which are formed of elastomers and toughening agents. Methacrylates are available in a range of cure speeds which exhibit superior low-temperature impact performance. High strength bonds can be achieved with a variety of materials, especially plastics.

The paints & coating application account for the largest market share of 31.4% in the year 2019. Acrylic paints contain one or more methacrylate-based products, which help enable paints and coatings to be applied efficiently while producing a durable and long-lasting coating. This helps to protect the surface from sunlight, rain, and other factors that may cause the layers to degenerate.

Acrylic Fiber is formed by the addition of polymerization of acrylonitrile. The fiber offers resistance to the microbiological attack, ultraviolet degradation, laundry bleach, and weak alkalis. They also provide good thermal stability and high stability towards bleaching agents.

The Asia Pacific dominated the market for the acrylic monomer. China is the largest producer of the product across the world due to the rising demand from domestic and international markets. High investment in the textile and apparel industry is propelling the demand for the product in Indonesia and India.

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