Global Butyl Acrylate Market, By Product Type (I-Butyl Acrylate, N-Butyl Acrylate and T-Butyl Acrylate), Purity (High Purity, Common Purity), Application (Paints and Coatings, Adhesives and Sealants, Chemical Synthesis, Plastic Additives, Textiles and Others) – Industry Trends and Forecast to 2029
Market Analysis and Size
There has been an increase in the output and use of butyl acrylate for a variety of applications in recent years, and this trend is expected to continue in the coming years. The market's evolution is expected to be aided by the adoption of sustainable and advanced manufacturing processes, as well as rising demand in the petrochemical sector. Refurbishment and restoration operations, as well as construction plans, have increased as a result of improved infrastructure, rising disposable incomes, and changing lifestyles. The global butyl acrylate market is expected to grow in the coming years due to the expanding scope of use in these applications.
Global Butyl Acrylate Market was valued at USD 3,356.74 million in 2021 and is expected to reach USD 4997.35 million by 2029, registering a CAGR of 5.1% during the forecast period of 2022-2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and climate chain scenario.
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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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014 - 2019)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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By Product Type (I-Butyl Acrylate, N-Butyl Acrylate and T-Butyl Acrylate), Purity (High Purity, Common Purity), Application (Paints and Coatings, Adhesives and Sealants, Chemical Synthesis, Plastic Additives, Textiles and Others)
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Countries Covered
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U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa
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Market Players Covered
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BASF SE (Germany), Arkema (France), Dow (US), Evonik Industries AG (Germany), NIPPON SHOKUBAI CO. LTD. (Japan), SIBUR (Russia), LG Chem (South Korea), SASOL Limited (South Africa), Formosa Petrochemical Corporation (Taiwan), and Mitsubishi Chemical Holdings Corporation (Japan), WANHUA Chemical Group Co. Ltd. (China), Shanghai Huayi Acrylic Acid Co. Ltd. (China), HAIHANG Industry (China)
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Market Opportunities
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Market Definition
Butyl acrylate is known to be a foremost type of acrylic esters, which is extensively prevalent for its hardness, sturdiness, high temperature resistance and high strength. It is mainly used for manufacturing thermoplastic compounds. Butyl acrylate is perfect for surface coating applications. Butyl acrylate is produced from ester grade acrylic acid, which is also known as glacial acrylic acid (GAA), with a small amount of n-butanol at high temperatures, at a yield of 94% to 95%. The production of butyl acrylate is generally integrated to an acrylic acid facility.
Butyl Acrylate Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:
Drivers
- High Use Across End Users
The growth of the butyl acrylate market is attributed to the increasing sales of the automotive industry coupled with high utilization across end use industries such as paints and coatings, adhesives and sealants, chemical synthesis, plastic additives, textiles and others over the forecast period. Furthermore, the rising demand for water-based coatings will boost market growth over the forecast period.
The rise in the need for water-based coatings will further propel the growth rate of butyl acrylate market. Additionally, they are applicable in wide range of end use sectors owing to its hardness, high strength, and high temperature resistance property which is projected to bolster the growth of the market.
Opportunities
- Investments and Sustainable Development Trends
Furthermore, the growing investment in the building and construction sector extend profitable opportunities to the market players in the forecast period of 2022 to 2029. Additionally, the adoption of sustainable development methods which will further expand the future growth of the butyl acrylate market.
Restraints/Challenges
- High Costs
The butyl acrylate prices are currently rising because of a supply shortage. The availability of butyl acrylate is being hampered in China due to a scarcity of acrylic acid, a key raw material for the production of the substance. The rise in the price of butyl acrylate will create hindrances for the growth of the butyl acrylate market as it creates affordability issues amongst the consumers.
- Stringent Regulations
Also, the strict rules related to the manufacturing of butyl acrylate will prove to be a demerit for the butyl acrylate market. Therefore, this will challenge the butyl acrylate market growth rate.
This butyl acrylate 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 butyl acrylate market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Butyl acrylate Market
The recent outbreak of coronavirus had a negative impact on the butyl acrylate market. COVID-19-related restrictions have already hampered supply chain operations around the world. The transportation of the materials was not possible due to a logistical halt. Due to the implementation of lockdown in several locations, production factories were forced to close. As a result, manufacturers suffered significant financial losses, and many were forced to close their doors. Demand from various industries, such as the automotive and textile industries, has decreased dramatically. As a result, during the epidemic, the butyl acrylate market suffered a huge loss financially.
Global Butyl Acrylate Market Scope
The butyl acrylate market is segmented on the basis of product type, purity and application. 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 Type
- I-Butyl Acrylate
- N-Butyl Acrylate
- T-Butyl Acrylate
Purity
- High Purity
- Common Purity
Application
- Paints and Coatings
- Adhesives and Sealants
- Chemical Synthesis
- Plastic Additives
- Textiles
- Others
Butyl acrylate Market Regional Analysis/Insights
The butyl acrylate market is analyzed and market size insights and trends are provided by country, product type, purity and application as referenced above.
The countries covered in the butyl acrylate market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period of 2022-2029. The market growth over this region is attributed to the occurrence of leading acrylic esters manufacturers. Furthermore, the rise in the need for water-based coatings, and restrictions on VOC emission plastics will further boost the growth of the butyl acrylate market in the region during the forecast period.
Asia-Pacific on the other hand, is estimated to show lucrative growth over the forecast period of 2022-2029, due to the rise in the automotive car production. Moreover, the increasing investment in construction and automotive industry is further anticipated to propel the growth of the butyl acrylate market in the region in the coming years.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like 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 Butyl Acrylate Market Share Analysis
The butyl acrylate 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 butyl acrylate market.
Some of the major players operating in the butyl acrylate market are
- BASF SE (Germany)
- Arkema (France)
- Dow (U.S.)
- Evonik Industries AG (Germany)
- NIPPON SHOKUBAI CO. LTD. (Japan)
- SIBUR (Russia)
- LG Chem (South Korea)
- SASOL Limited (South Africa)
- Formosa Petrochemical Corporation (Taiwan)
- Mitsubishi Chemical Holdings Corporation (Japan)
- WANHUA Chemical Group Co. Ltd. (China)
- Shanghai Huayi Acrylic Acid Co. Ltd. (China)
- HAIHANG Industry (China)
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