Methyl acrylate, stabilized is a colorless volatile liquid with a pungent odor. Its vapors may irritate the eyes and respiratory system. It is very toxic if inhaled, ingested, or comes in skin contact. It is less dense than water (0.957 g/cm3) and poorly soluble in water, so it floats on water. Its vapors are heavier than air. It is a raw material in applications including acrylic fibers, fiber treatments, molding resins, adhesives, paints, coatings, and emulsions.
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Methyl acrylate is used in a variety of industries, including coatings, adhesives, textiles, and plastics. Growth in these industries is expected to increase the demand for methyl acrylate.
Data Bridge Market Research analyzes that the Global Methyl Acrylate Market is expected to grow with a CAGR of 6.6% in the forecast period of 2023 to 2030 and is expected to reach USD 650,128.46 thousand by 2030. The industrial segment is projected to propel the market growth as the demand for methyl acrylate is increasing for industrial purposes worldwide.
Key Findings of the Study
Increasing Demand For Sustainable And Ecofriendly Products
Developing trends in the production of sustainable and environmentally friendly methyl acrylate products is increasing the demand of the methyl acrylate in the market. Some ways the industry is responding to these trends are:
- Development of Ecological Products: Some companies are developing ecological products that use methyl acrylate as a main component. For instance, methyl acrylate can be used to make low-Volatile Organic Compound (VOC) coatings and adhesives that can help reduce emissions of harmful pollutants.
Growing concern for the environment increases the demand for sustainable and environmentally friendly products. Methyl acrylate is a sustainable alternative to traditional petrochemicals and may offer growth opportunities in this area.
Thus, increasing demand for sustainable and eco-friendly products acts as an opportunity for market growth.
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 to 2020 - 2015)
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Quantitative Units
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Revenue in USD Thousand, Volumes in Tons, and Pricing in USD
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Segments Covered
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By Type (Industrial and Pharmaceutical), Purity Grade (Less Than Or Equal To 99% and Greater Than 99%), Application (Surface Coatings, Chemical Synthesis, Adhesives and Sealants, Plastic Additives, Detergents, Textiles, and Others), End User (Paint & Coating, Automobile, Packaging, Construction, Cosmetics, and Others)
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Countries Covered
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U.S., Canada, Mexico, Germany, France, U.K., Italy, Spain, Netherlands, Russia, Switzerland, Turkey, Belgium, rest of Europe, China, Japan, India, South Korea, Indonesia, Australia, New Zealand, Thailand, Taiwan, Malaysia, Philippines, Singapore and Rest of Asia-Pacific, Brazil, Argentina, rest of South America, South Africa, Saudi Arabia, U.A.E, Egypt, Israel, and rest of Middle East and Africa
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Market Players Covered
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Mitsubishi Chemical Group (Japan), NIPPON SHOKUBAI CO., LTD. (Japan), LG Chem (South Korea), Dow (U.S.), BASF SE (Germany), Arkema (U.S.), DuPont (U.S.), EVONIK (Germany), Merck KGaA (Germany), Solventis (U.K.), Shanghai Huayi Acrylic Acid Co., Ltd. (China), SIBUR INTERNATIONAL (Austria), Nouryon (Netherlands), Jurong Group Su (China), and SHANGDONG KAITAI PETROCHEMICAL Co., LTD. (China) 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 depth expert analysis, supply chain analysis, climate change scenario, and regulatory framework.
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Segment Analysis
The global methyl acrylate market is segmented into four notable segments based on type, purity grade, application, and end user.
On the basis of type, the market is segmented into industrial and pharmaceutical. In 2023, the industrial segment is expected to dominate the market with a 67.91% market share.
In 2023, the industrial segment is expected to dominate the market
It is expected to reach USD 447,886.71 thousand by 2030, growing with a CAGR of 6.8% from 2023 to 2030. the industrial segment is expected to dominate because of the demand for methyl acrylate is increasing for industrial purposes worldwide
- On the basis of purity grade, the market is segmented into less than or equal to 99% and greater than 99. In 2023, the greater than 99% segment is expected to dominate the market with a 77.30% market share. It is expected to reach USD 506,786.01 thousand by 2030, growing with a CAGR of 6.7% from 2023 to 2030.
- On the basis of application, the market is segmented into surface coatings, adhesives and sealants, textiles, plastic additives, chemical synthesis, detergents, and others. In 2023, the surface coatings segment is expected to dominate the market with a 34.35% market share. It is expected to reach USD 236,303.71 thousand by 2030, growing with a CAGR of 7.4% from 2023 to 2030.
- On the basis of end user, the market is segmented into paint and coating, automobile, packaging, construction, cosmetics, and others. All these segments are further sub-segmented into less than or equal to 99% and greater than 99% depending upon purity grade. In 2023, the paint and coating segment is expected to dominate the market with a 36.75% market share. It is expected to reach USD 248,812.61 thousand by 2030, growing with a CAGR of 7.1% from 2023 to 2030.
Major Players
Data Bridge Market Research recognizes the following companies as the methyl acrylate market players in the global methyl acrylate market that include Mitsubishi Chemical Group (Japan), NIPPON SHOKUBAI CO., LTD. (Japan), LG Chem (South Korea), Dow (U.S.), BASF SE (Germany), Arkema (U.S.), DuPont (U.S.), EVONIK (Germany), Merck KGaA (Germany), Solventis (U.K.), Shanghai Huayi Acrylic Acid Co., Ltd. (China), SIBUR INTERNATIONAL (Austria), Nouryon (Netherlands), Jurong Group Su (China), and SHANGDONG KAITAI PETROCHEMICAL Co., LTD. (China) among others.
Market Development
- In February 2023, Mitsubishi Chemical Group hereby announces that it will begin pilot tests of collecting acrylic resins from waste vehicles with the aim of commercializing acrylic resin molecular recycling in cooperation with Tokio Marine and Nichido Fire Insurance Co., Ltd. This is the first attempt in Japan to recover acrylic resin from used vehicles using a car insurance network.
- In February 2023, NIPPON SHOKUBAI CO., LTD. received ISCC PLUS certification for 19 products, including acrylic acid, Superabsorbent Polymers ("global SAP"), and ethylene oxide, produced at the Himeji and Kawasaki plants. The certification enables the system to produce and market certified products using raw materials obtained from biomass separated by the mass balance method and to offer a wide range with a low environmental impact.
- In March 2021, BASF SE launched its new acrylic dispersion production line in Pasir Gudang, Malaysia, doubling its capacity. The state-of-the-art facility produces acrylic dispersions serving the coatings, construction, adhesives, and packaging industries in the Asia-Pacific region. The new product line complements the existing assembly and enables the production of new diffusion technologies.
Regional Analysis
Geographically, the countries covered in the global methyl acrylate market report are U.S., Canada, Mexico, Germany, France, U.K., Italy, Spain, Netherlands, Russia, Switzerland, Turkey, Belgium, rest of Europe, China, Japan, India, South Korea, Indonesia, Australia, New Zealand, Thailand, Taiwan, Malaysia, Philippines, Singapore and Rest of Asia-Pacific, Brazil, Argentina, rest of South America, South Africa, Saudi Arabia, U.A.E, Egypt, Israel, and rest of Middle East and Africa.
As per Data Bridge Market Research analysis:
Asia-Pacific is the dominant region in the global methyl acrylate market during the forecast period 2023-2030
In 2023, Asia-Pacific is dominating the global methyl acrylate market owing to the higher level of investments by manufacturers and increasing industrial application of methyl acrylate. Asia-Pacific will continue to dominate the market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period. This is due to the growing adoption of advanced technology and the launch of new products in this region. Additionally, the increasing use of methyl acrylate in industries and advancement in the manufacturing process of methyl acrylate is expected to further enhance the market growth rate in this region.
Asia-Pacific is estimated to be the fastest-growing region in the global methyl acrylate market during the forecast period 2023-2030
Asia-Pacific is expected to grow during the forecast period due to the presence of major market players and the rapid development of sustainable and eco-friendly products using methyl acrylate in emerging economies in this region. In addition to this, the rising production of methyl acrylate for various different applications in the region is expected to propel the market growth rate in this region.
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