The paints and coatings industry holds a positive outlook for the acrylic monomer market, driven by various factors and applications that contribute to its growth. One of the primary drivers behind the positive outlook for the paints and coatings industry is the extensive use of acrylic monomers, specifically N-butyl acrylate. These monomers serve as essential building blocks for copolymers used in the formulation of paints and coatings. These properties include the ability to form hydrophobic polymers, which are crucial for creating coatings that provide protection and durability. This property makes them particularly valuable in the formulation of coatings, where water resistance and durability are essential. Methacrylate, another essential acrylic monomer derived from methacrylic acid, enjoys widespread usage in diverse applications, including computer screens and paints.
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Data Bridge Market Research analyzes that the Global Acrylic Monomers Market is expected to reach USD 8,582,102.55 thousand by 2030 from USD 6,100,287.35 thousand in 2022, growing with a substantial CAGR of 4.5% in the forecast period of 2023 to 2030.
Key Findings of the Study
Increasing Spending in the Construction Sector
The construction sector stands as a vital pillar of economic development, shaping the skylines of cities and laying the foundation for infrastructure growth. The surge in construction spending is primarily attributed to the growing urbanization and population expansion. There is an escalating demand for residential, commercial, and infrastructure development with more people moving to cities. Governments and private investors are pouring substantial funds into construction projects to meet these demands. This surge in construction activity catalyzes the acrylic monomer market.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Year
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2021 (Customizable 2015-2020)
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Quantitative Units
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Revenue in USD Thousand, Volume in Thousand Liters
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Segments Covered
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Product (Acrylate, Acrylic Acids and Salts, Bisphenol Acrylics, Polyfunctional Acrylics, Fluorinated Acrylics, Acrylonitrile, Acrylamide and Methacrylamide, Malemide, Carbohydrate Monomers, and Others), Application (Plastic, Adhesives and Sealants, Synthetic Resins, Acrylic Fibers, Building Materials, Fabrics, Acrylic Rubber, and Others), End Use (Paints and Coatings, Building and Construction, Automotive, Consumer Goods, Packaging, Water Treatment, Marine, Aerospace, and Others)
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Countries Covered
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China, India, Japan, South Korea, Australia & New Zealand, Malaysia, Singapore, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Germany, U.K., Italy, France, Spain, Switzerland, Russia, Turkey, Belgium, Netherlands, Rest of Europe, U.S., Canada, Mexico, South Africa, Saudi Arabia, United Arab Emirate, Egypt, Israel, Rest of Middle East & Africa, Brazil, Argentina, and Rest of South America
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Market Players Covered
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BASF SE (Germany), Arkema (France), Dow (U.S.), Mitsubishi Chemical Group Corporation (Japan), Evonik Industries AG (Germany), B JOSHI AGROCHEM PHARMA (India), Bharat Petroleum Corporation Limited (India), Chirag Enterprise (India), DHALOP CHEMICALS (India), LG Chem (South Korea), LobaChemie Pvt. Ltd. (India), NIPPON SHOKUBAI CO., LTD. (Japan), Pallav Chemicals (India), Solventis (U.K.), and Tokyo Chemical Industry Co., Ltd. (Japan), among others
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Data Points Covered in the Report
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In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
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Segment Analysis
The global acrylic monomers market is segmented into three notable segments based on product, application, and end-use.
- On the basis of product, the market is segmented into Acrylamide and methacrylamide, acrylate, acrylic acids and salts, acrylonitrile, bisphenol acrylics, carbohydrate monomers, fluorinated acrylics, malemide, polyfunctional acrylics, and others.
In 2023, the acrylate segment of product is expected to dominate the global acrylic monomers market
In 2023, the acrylate segment is expected to dominate the market with a 31.07% market share due to the growing paints and coatings industry.
- On the basis of application, the market is segmented into plastic, Adhesives and Sealants, synthetic resins, acrylic fibers, building materials, fabrics, acrylic rubber, and others.
In 2023, the plastic segment of application is anticipated to dominate the global acrylic monomers market
In 2023, the plastic segment is expected to dominate the market with a 29.30% market share because rapid urbanization fuels the demand for acrylic-based products in architectural and decorative coatings.
- On the basis of end-use, the market is segmented into paints and coatings, building and construction, automotive, consumer goods, packaging, water treatment, marine, aerospace, and others. In 2023, the paints and coatings segment is expected to dominate the market with a 30.68% market share.
Major Players
Data Bridge Market Research analyzes BASF SE (Germany), Arkema (France), Dow (U.S.), Mitsubishi Chemical Group Corporation (Japan), and Evonik Industries AG (Germany) as the major players operating in the global acrylic monomers market.
Market Developments
- In May 2023, NIPPON SHOKUBAI CO., LTD. celebrated the inauguration of a new acrylic acid facility in Cilegon, Indonesia. This state-of-the-art facility boasts a production capacity of 100,000 MT/Y, reinforcing Nippon Shokubai's position as a major player in the acrylic monomer market.
- In April 2023, Evonik achieved DIN CERTCO certification for its VISIOMER Terra biobased methacrylate monomers, confirming a bio-content of up to 85%. This certification, based on the C14 radiocarbon method and ASTM D 6866:2021 protocol, highlights Evonik's commitment to sustainability and climate mitigation.
- In January 2023, Mitsubishi Chemical Group and Mitsui Chemicals have initiated collaborative research to standardise and optimise chemical logistics, which underlie both society and industry. The corporations want to gradually roll out activities across a variety of key subjects, with those that can be immediately executed expected to begin this fiscal year. Mitsubishi Chemical Group and Mitsui Chemicals will work together to develop stronger, more sustainable chemical logistics.
- In November 2022, Arkema Inc. and Nippon Shokubai American Industries, Inc. (NAII), through their joint venture had strengthened their commitment to accelerate the decarbonization of energy sources by entering into a long-term power purchase agreement with EDF Energy Services, LLC (EDF) intended for 100% of their expected annual energy usage supplied by wind power.
- In September 2019, Archer Daniels Midland and LG Chem formed a partnership to develop biobased acrylic acid, a key component in superabsorbent polymers used in products like diapers. This joint effort aims to provide sustainable alternatives to the petrochemical-based acrylic acid currently in use.
Regional Analysis
Geographically, the countries covered in the global acrylic monomers market report are China, India, Japan, South Korea, Australia & New Zealand, Malaysia, Singapore, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Germany, U.K., Italy, France, Spain, Switzerland, Russia, Turkey, Belgium, Netherlands, Rest of Europe, U.S., Canada, Mexico, South Africa, Saudi Arabia, United Arab Emirate, Egypt, Israel, Rest of Middle East & Africa, Brazil, Argentina, and Rest of South America
As per Data Bridge Market Research analysis:
Asia-Pacific is the dominant region in the global acrylic monomers market
Asia-Pacific is expected to dominate the global acrylic monomers market due to the growing paints and coatings industry in the region.
North America is estimated to be the fastest-growing region in the global acrylic monomers market
North America is expected to grow during the forecast period 2023 to 2030 due to the rise in spending on the construction sector in the region. In addition to this, various technological advancements in production technologies and production facility expansion in the region.
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