Acrylic monomers, the building blocks of acrylic polymers, are known for their exceptional thermal stability. This characteristic enables acrylic polymers to withstand a broad spectrum of temperatures without undergoing substantial degradation. The chemical structure of acrylic monomers imparts a resilience to heat, preventing them from breaking down or undergoing significant changes in molecular structure even at elevated temperatures. This thermal stability is a key feature of acrylic materials, making them suitable for applications where exposure to varying temperatures is a concern.
According to Data Bridge Market Research analyses the Global Acrylic Monomers Market is expected to reach the value of USD 8,582,102.55 thousand by 2030, at a CAGR of 4.5% during the forecast period 2023-2030.
“Increased positive outlook toward the paints and coating industry boosts the market growth"
The positive outlook toward the paints and coating industry serves as a significant driver for the global acrylic monomers market. With increasing demand for high-performance and environmentally friendly coatings, acrylic monomers play a pivotal role in formulating durable and versatile paint solutions. The growth in construction activities, automotive production, and industrial applications fuels the need for acrylic-based coatings, boosting the market. As industries prioritize sustainable and innovative coating solutions, the global acrylic monomers market is poised for continued expansion.
What restraints the growth of global acrylic monomers market?
“Fluctuations in raw material prices hinders the market growth”
Fluctuations in raw material prices serve as a significant restraint for the global acrylic monomers market. The market's vulnerability to price volatility in key raw materials, such as propylene and ethylene, poses challenges to manufacturers in maintaining stable production costs and profit margins. Dependency on petrochemical feedstock makes the industry susceptible to geopolitical and economic factors, leading to unpredictable cost variations. This volatility can hinder strategic planning, impact pricing strategies, and create uncertainties in the supply chain, consequently limiting the growth potential of the acrylic monomers market globally.
Segmentation: Global Acrylic Monomers Market
The global acrylic monomers market is segmented on the basis of product type, application, and end use.
- On the basis of product, the global acrylic monomers market is segmented into acrylate, acrylic acids and salts, bisphenol acrylics, polyfunctional acrylics, fluorinated acrylics, acrylonitrile, acrylamide and methacrylamide, malemide, carbohydrate monomers, and others
- On the basis of application, the global acrylic monomers market is segmented into plastic, adhesives and sealants, synthetic resins, acrylic fibers, building materials, fabrics, acrylic rubber, and others
- On the basis of end use, the global acrylic monomers market is segmented into paints and coatings, building and construction, automotive, consumer goods, packaging, water treatment, marine, aerospace, and others
Regional Insights: Asia-Pacific dominates the Global Acrylic Monomers Market
- In Asia-Pacific, China dominates the market for high-performance coatings, driven by the superior attributes of acrylic copolymers. Renowned for their exceptional durability, weather resistance, and clarity, these copolymers have become a preferred choice for manufacturers in the paints and coatings industry. The growing trend among industry players to utilize acrylic copolymers underscores their efficacy in elevating both the quality and longevity of coatings, meeting the demand for robust and weather-resistant solutions in the region.
- In North America, U.S. dominates the market for acrylic monomers, driven by widespread adoption in adhesive and sealant development. Methacrylate monomers, particularly reactive acrylics, are extensively utilized in formulating adhesives and sealants. Their versatility and reactivity make them integral components, catering to diverse applications in adhesive technologies. The dominance of the U.S. in this market reflects the significant role of acrylic monomers, especially methacrylate-based variants, in meeting the demands of the adhesive and sealant industry within the region.
- In Europe, Germany dominates in the market due to its emphasis on durable construction, aligning with long-term project goals. The increased durability of structures, a result of German construction practices, ensures longevity. Acrylic monomers contribute significantly by enhancing the workability and flowability of concrete, playing a pivotal role in achieving durable and resilient structures that can withstand the test of time.
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Recent Developments in Global Acrylic Monomers Market
- In May 2023, SHOKUBAI CO., LTD. Launched new acrylic acid facility in Cilegon, Indonesia, with a robust production capacity of 100,000 MT/Y, solidifying its prominent role in the acrylic monomer market
- In April 2023, Evonik secured DIN CERTCO certification for VISIOMER Terra biobased methacrylate monomers, boasting an impressive bio-content of up to 85%, showcasing Evonik's dedication to sustainability and climate mitigation
- In January 2023, Mitsubishi Chemical Group collaborated with the Mitsui Chemicals to standardize and optimize chemical logistics, aiming for gradual implementation across various key subjects in the fiscal year
- In November 2022, Arkema Inc. and Nippon Shokubai American Industries, Inc. (NAII) reinforce their commitment to decarbonize energy sources through a long-term power purchase agreement with EDF Energy Services, LLC (EDF), covering 100% of their anticipated annual energy usage with wind power
- In September 2019, Archer Daniels Midland and LG Chem joined forces to develop biobased acrylic acid, a crucial element in superabsorbent polymers found in products such as diapers, showcasing their collaborative efforts to offer sustainable alternatives to petrochemical-based acrylic acid
The Prominent Key Players Operating in the Global Acrylic Monomers Market Include:
- Pallav Chemicals (India)
- Chirag Enterprise (India)
- DHALOP CHEMICALS (India)
- B JOSHI AGROCHEM PHARMA (India)
- BASF SE (Germany)
- Arkema (France)
- Mitsubishi Chemical Group Corporation (Japan)
- DOW (U.S.)
- LG Chem (South Korea)
- Evonik Industries AG (Germany)
- NIPPON SHOKUBAI CO., LTD. (Japan)
- Bharat Petroleum Corporation Limited (India)
- LobaChemie Pvt Ltd. (India)
- Solventis (United Kingdom)
- Tokyo Chemical Industries CO., Ltd. (Japan)
Above are the key players covered in the report, to know about more and exhaustive list of global acrylic monomers market companies contact, https://www.databridgemarketresearch.com/es/contact
Research Methodology: Global Acrylic Monomers Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
