Global Acrylic Monomers Market, By 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) - Industry Trends and Forecast to 2031.
Acrylic Monomers Market Analysis and Size
The acrylic monomers market continues to witness significant advancements, with innovations driving benefits across various industries. Enhanced formulations offer improved properties such as durability and flexibility, expanding applications in paints, adhesives, and coatings. This progress fosters efficiency and sustainability, catering to evolving consumer demands while promoting growth and competitiveness within the acrylic monomers market.
The global acrylic monomers market size was valued at USD 6,306,373.18 thousand in 2023, is projected to reach USD 8,968,297.16 thousand by 2031, with a CAGR of 4.52% during the forecast period 2024 to 2031. 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.
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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2024 to 2031
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Base Year
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2023
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Historic Years
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2022 (Customizable to 2016-2021)
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Quantitative Units
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Revenue in USD Thousand, Volumes in Units, Pricing in USD
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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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U.S., Canada, Mexico, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E., South Africa, Egypt, Israel, Rest of Middle East and Africa, Brazil, Argentina, and Rest of South America
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Market Players Covered
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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), Solvents (U.K.), and Tokyo Chemical Industries Co., Ltd. (Japan)
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Market Opportunities
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Market Definition
Acrylic monomers are small molecules that polymerize to form acrylic polymers. These monomers contain carbon-carbon double bonds, which undergo polymerization through various methods, such as free radicals or anionic mechanisms. Acrylic monomers are versatile and used in a wide range of applications, including paints, adhesives, coatings, and dental materials, due to their durability, transparency, and adhesive properties.
Acrylic Monomers Market Dynamics
Drivers
- Increasing Demand for Acrylic Monomers in End-Use Industries
Acrylic monomers play pivotal roles across diverse sectors including automotive, construction, paints, coatings, adhesives, and textiles. Their versatility caters to the growing needs of these industries, where they serve as fundamental components, fueling innovation and meeting evolving demands for performance and functionality. For instance, in automotive manufacturing, acrylic monomers are utilized in paint formulations, enhancing the durability and weather resistance of vehicle exteriors. Such broad applications across industries propel the demand for acrylic monomers, mirroring the growth of these sectors.
- Rising Preference for Water-Based Coatings
The growing preference for eco-friendly products and tightening environmental regulations are driving the popularity of water-based coatings. Acrylic monomers, crucial in these coatings, are witnessing increased demand. For instance, in response to stringent VOC regulations, many automotive manufacturers are shifting towards water-based acrylic coatings, boosting the demand for acrylic monomers in the automotive industry.
Opportunities
- Advancements in Technology
Continuous research and development efforts lead to the development of advanced acrylic monomers with improved performance characteristics such as enhanced adhesion, flexibility, and UV resistance. This innovation drives market growth by expanding the range of applications for acrylic monomers. For instance, the development of acrylic monomers with improved adhesion allows for their use in bonding dissimilar materials such as metals and plastics, expanding applications in automotive and electronics industries. Such advancements drive market growth by meeting evolving industry needs.
- Growing Construction Activities
The surge in global construction projects fuels demand for acrylic monomers, which are integral in construction materials such as coatings, adhesives, and sealants for their durability and weather resistance. For instance, in urban development initiatives such as China's Belt and Road Initiative, acrylic-based coatings, and sealants are essential for infrastructure projects, driving the need for acrylic monomers in the construction sector worldwide.
Restraints/Challenges
- Fluctuations in the Prices of Raw Materials
Fluctuations in raw material prices, such as propylene and isobutylene, can disrupt the acrylic monomers market. Increased costs for manufacturers may lead to higher product prices or reduced profits. Businesses relying on acrylic monomers for paints, adhesives, or coatings face budget uncertainties. Industries such as construction and automotive, dependent on stable acrylic monomer prices, could face project delays or heightened expenses due to cost unpredictability, potentially hindering market growth and operational efficiency.
- Meeting Complex and Evolving Regulatory Standards
Meeting complex and evolving regulatory standards in the market presents significant challenges. Government and environmental regulations worldwide demand adherence to safety and environmental protocols, necessitating costly research, reformulation, and paperwork. Non-compliance risks fines, legal issues, and reputational damage, hindering market growth. Compliance requires substantial investments, potentially slowing product development and increasing costs.
This market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays
Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions. Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.
Expected Impact of Economic Slowdown on the Pricing and Availability of Products
When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.
Recent Development
- In May 2023, NIPPON SHOKUBAI CO., LTD. marked the inauguration of a new acrylic acid facility in Cilegon, Indonesia. Boasting a production capacity of 100,000 MT/Y, this state-of-the-art facility solidifies Nippon Shokubai's status as a major player in the acrylic monomer market
- In April 2023, Evonik obtained DIN CERTCO certification for its VISIOMER Terra biobased methacrylate monomers, showcasing an impressive bio-content of up to 85%. This certification, based on the C14 radiocarbon method and ASTM D 6866:2021 protocol, underscores Evonik's dedication to sustainability and climate action
- In January 2023, Mitsubishi Chemical Group and Mitsui Chemicals embarked on collaborative research to standardize and optimize chemical logistics, crucial for both society and industry. Gradually implementing activities across various key subjects, immediate execution is expected this fiscal year, with a focus on developing stronger, sustainable chemical logistics
- In November 2022, Arkema Inc. and Nippon Shokubai American Industries, Inc. (NAII), via their joint venture, intensified efforts to accelerate energy source decarbonization. They secured a long-term power purchase agreement with EDF Energy Services, LLC (EDF), aiming for 100% of their anticipated annual energy usage to be supplied by wind power
Acrylic Monomers Market Scope
The market is segmented on the basis of product, application, and end use. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Product
- Acrylate
- Acrylic Acids and Salts
- Bisphenol Acrylics
- Polyfunctional Acrylics
- Fluorinated Acrylics
- Acrylonitrile
- Acrylamide and Methacrylamide
- Malemide
- Carbohydrate Monomers
- Others
Application
- Plastic
- Adhesives and Sealants
- Synthetic Resins
- Acrylic Fibers
- Building Materials
- Fabrics
- Acrylic Rubber
- Others
End Use
- Paints and Coatings
- Building and Construction
- Automotive
- Consumer Goods
- Packaging
- Water Treatment
- Marine
- Aerospace
- Others
Acrylic Monomers Market Regional Analysis/Insights
The market is analysed and market size insights and trends are provided by product, application, and end use as referenced above.
The countries covered in the market report are U.S., Canada, Mexico, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E., South Africa, Egypt, Israel, Rest of Middle East and Africa, Brazil, Argentina, and Rest of South America.
North America is expected to dominate in the market with the highest CAGR, driven by widespread adoption in adhesive and sealant development. Methacrylate-based reactive acrylics find versatile applications, enhancing formulations for adhesion and sealing across various industries.
Asia-Pacific is expected to dominate the acrylic monomers market, leveraging their use in high-performance coatings known for durability, weather resistance, and clarity. Paints and coatings manufacturers favour acrylic polymers to elevate product quality and lifespan, driving demand for these versatile materials in the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Acrylic Monomers Market Share Analysis
The market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to the market.
Some of the major players operating in the market are:
- 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 (U.K.)
- Tokyo Chemical Industries Co., Ltd. (Japan)
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