The paints and coatings industry holds a positive outlook toward the acrylic monomers market, driven by various factors and applications that contribute to the market 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 North America Acrylic Monomers Market is expected to reach USD 1,608,199.90 thousand by 2030 from USD 1,107,202.15 thousand in 2022, growing with a CAGR of 4.9% during the forecast period of 2023 to 2030.
Key Findings of the Study
Increasing Expenditure 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 monomers 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 Years
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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, Polyfunctional Acrylics, Bisphenol Acrylics, Fluorinated Acrylics, Acrylonitrile, Acrylamide and Methacrylamide, Carbohydrate Monomers, Malemide, 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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U.S., Canada, and Mexico
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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), LG Chem (South Korea), LobaChemie Pvt. Ltd. (India), NIPPON SHOKUBAI CO., LTD. (Japan), Solventis (U.K.), and Tokyo Chemical Industry Co., Ltd. (Japan)
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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 North America 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 is expected to dominate the North America acrylic monomers market
In 2023, the acrylate segment is expected to dominate the market with a market share of 30.48% due to their versatility and use in a wide range of applications from paints and coatings to adhesives and textiles.
- 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 is expected to dominate the North America acrylic monomers market
In 2023, the plastic segment is expected to dominate the market with a market share of 28.95% driven by the growth of acrylic-based coatings, adhesives, and sealants due to their versatility and durability.
- 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 plastics and coatings segment is expected to dominate the market with a market share of 29.90%.
Major Players
Data Bridge Market Research analyzes Dow (U.S.), BASF SE (Germany), Evonik Industries AG (Germany), Mitsubishi Chemical Group Corporation (Japan), and Arkema (France) as the major players operating in the North America acrylic monomers market.
Market Developments
- In September 2023, BASF SE expanded its growing portfolio of 14C bio-based monomers with a proprietary process for the production of 2-Octyl Acrylate (2-OA). The new product underlines BASF’s strong commitment to innovation for a sustainable future with 73% 14C-tracable bio-based content according to ISO 16620. Besides the regular 14C bio-based 2-Octyl Acrylate, BASF also launched a new product 2-Octyl Acrylate BMB ISCC Plus.
- In April 2023, Evonik received 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 Corporation and Mitsui Chemicals initiated collaborative research to standardize and optimize 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. The companies will work together to develop stronger and more sustainable chemical logistics.
- 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 such as diapers. This joint effort is focused on providing sustainable alternatives to the petrochemical-based acrylic acid currently in use.
Regional Analysis
Geographically, the countries covered in the North America acrylic monomers market report are U.S., Canada, and Mexico.
As per Data Bridge Market Research analysis:
The U.S. is expected to dominate and is the fastest-growing country in the North America acrylic monomers market
The U.S. is expected to dominate the market due to the growing paints and coatings industry in the country and is expected to be the fastest-growing country due to the rising spending on the construction sector.
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