Global Methyl Acrylate Market Segmentation, 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 and Coating, Automobile, Packaging, Construction, Cosmetics, and Others) - Industry Trends and Forecast to 2031
Methyl Acrylate Market Analysis
The methyl acrylate market is experiencing notable growth, driven by advancements in production technologies and increasing demand across various industries. The latest methods involve the use of high-throughput processes and enhanced catalysts that improve yield and reduce energy consumption. For instance, continuous flow reactors are being utilized to optimize the reaction conditions, leading to more efficient production cycles.
In addition, the implementation of bio-based raw materials for methyl acrylate synthesis is gaining traction, aligning with global sustainability goals. This shift not only reduces the carbon footprint but also meets the growing consumer demand for environmentally friendly products.
The automotive and construction sectors are major consumers of methyl acrylate, where it is used in adhesives, sealants, and coatings. The rise of electric vehicles and infrastructure development projects is expected to further propel market growth. Moreover, the expanding application of methyl acrylate in the production of superabsorbent polymers and as a key component in paints and coatings will contribute to its increasing adoption. Overall, the methyl acrylate market is poised for significant growth, bolstered by technological innovations and heightened industrial demand.
Methyl Acrylate Market Size
The global methyl acrylate market size was valued at USD 415.62 million in 2023 and is projected to reach USD 693.04 million by 2031, with a CAGR of 6.60% during the forecast period of 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 import export analysis, production capacity overview, production consumption analysis, price trend analysis, climate change scenario, supply chain analysis, value chain analysis, raw material/consumables overview, vendor selection criteria, PESTLE Analysis, Porter Analysis, and regulatory framework.
Methyl Acrylate Market Trends
“Growing Demand for Adhesives and Sealants”
A significant trend driving the methyl acrylate market is the increasing demand for adhesives and sealants in various industries, particularly in construction and automotive. Methyl acrylate is a key raw material in formulating high-performance adhesives known for their excellent bonding strength and flexibility. For instance, the rise in residential and commercial construction projects post-pandemic has spurred the demand for durable sealants that can withstand environmental stressors. Additionally, the automotive industry is leveraging methyl acrylate-based adhesives for lightweight and fuel-efficient vehicle designs. This surge in applications emphasizes methyl acrylate's versatility and positions it as a crucial component in modern manufacturing processes.
Report Scope and Methyl Acrylate Market Segmentation
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Attributes
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Methyl Acrylate Key Market Insights
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Segments Covered
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Countries Covered
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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, South Africa, Egypt, Israel, 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
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Key Market Players
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Mitsubishi Chemical Group (Japan), NIPPON SHOKUBAI CO., LTD. (Japan), LG Chem (South Korea), Dow (U.S.), BASF SE (Germany), Arkema (France), DuPont (U.S.), EVONIK (Germany), Merck KGaA (Germany), Solventis (France), Shanghai Huayi Acrylic Acid Co., Ltd. (China), SIBUR INTERNATIONAL (Russia), Nouryon (Netherlands), Jurong Group Su (China), and SHANDONG KAITAI PETROCHEMICAL Co., LTD. (China)
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Market Opportunities
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Value Added Data Infosets
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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 import export analysis, production capacity overview, production consumption analysis, price trend analysis, climate change scenario, supply chain analysis, value chain analysis, raw material/consumables overview, vendor selection criteria, PESTLE Analysis, Porter Analysis, and regulatory framework.
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Methyl Acrylate Market Definition
Methyl acrylate is an organic compound classified as an acrylate ester, with the chemical formula C4H6O2. It appears as a colorless liquid with a characteristic fruity odor and is soluble in organic solvents. Widely used in the production of polymers, methyl acrylate serves as a key monomer in the manufacturing of coatings, adhesives, and sealants, enhancing properties such as flexibility and durability. Additionally, it is utilized in the formulation of paints and textiles. However, it is flammable and can cause skin irritation, necessitating proper safety measures during handling and storage.
Methyl Acrylate Market Dynamics
Drivers
- Increasing Demand for Methyl Acrylate-Based Products
Methyl acrylate, a colorless and volatile liquid with a pungent odor, is crucial in various industries, including coatings, adhesives, textiles, and plastics. Its properties make it a valuable raw material in producing acrylic fibers, fiber treatments, molding resins, adhesives, paints, coatings, and emulsions. Despite its hazardous nature being toxic upon inhalation, ingestion, or skin contact the demand for methyl acrylate-based products is surging due to growth across these sectors. The increasing use of methyl acrylate in applications such as automotive coatings, construction adhesives, and textile treatments is driving market expansion. As industries focus on innovation and enhanced performance, the rising demand for methyl acrylate underpins significant growth opportunities in the market.
- Rising Demand for Textiles
The textile industry is witnessing a significant rise in the demand for methyl acrylate due to its superior adhesion properties, which enhance fabric treatments and coatings. Methyl acrylate is used to create durable finishes in various textile applications, including apparel, upholstery, and industrial fabrics. For instance, manufacturers utilize it in water-repellent coatings for outdoor gear, ensuring longevity and performance under harsh conditions. Additionally, the growing trend of functional textiles, such as antimicrobial and UV-resistant fabrics, further propels the demand for methyl acrylate. As sustainability becomes a priority, its application in eco-friendly textile treatments also boosts market growth, catering to consumer preferences for quality and performance.
Opportunities
- Technological Advancement in the Manufacturing Process of Methyl Acrylate
Technological advancements in the manufacturing process of methyl acrylate are significantly enhancing market growth. Methyl acrylate is primarily used in producing polymers and resins, particularly acrylic fibers, coatings, and adhesives. Traditionally, it is synthesized by reacting acrylic acid with methanol in the presence of a catalyst, a process that is exothermic and necessitates cooling to manage temperatures. However, innovations such as improved catalytic processes, optimization of reaction conditions, and the integration of green chemistry principles are streamlining production. These advancements not only increase efficiency and yield but also reduce energy consumption and environmental impact. As manufacturers adopt these modern methods, the demand for methyl acrylate is expected to rise, reflecting its versatility in various applications, including agricultural chemicals and pharmaceuticals.
- Rising Demand in the Medical Sector
The demand for methyl acrylate in the medical sector is surging due to its essential role in dental adhesives and prosthetics. As healthcare evolves, there is a growing need for advanced, biocompatible materials that provide strong adhesion and durability. For instance, methyl acrylate is widely used in dental restorations to bond crowns and fillings securely, enhancing patient outcomes. Additionally, its application in manufacturing orthopedic prosthetics ensures a reliable connection between implants and surrounding tissues, promoting patient comfort and mobility. This increasing focus on innovative healthcare solutions, driven by advancements in technology and materials science, significantly propels the methyl acrylate market forward.
Restraints/Challenges
- Fluctuating Cost of Raw Materials used in Methyl Acrylate Production
The production of methyl acrylate is heavily influenced by the fluctuating costs of its raw materials, primarily derived from petrochemicals. A key component in this process is propylene, which is sourced from crude oil and natural gas. As crude oil prices fluctuate, they directly impact the cost of propylene, consequently affecting the overall production expenses of methyl acrylate. Given that crude oil serves as a fundamental raw material for various chemicals, any volatility in its pricing can significantly influence the production costs of methyl acrylate. This interconnectedness highlights the importance of monitoring crude oil market trends, as they can lead to substantial variations in the profitability and pricing strategies for methyl acrylate producers.
- Stringent Government Regulations Regarding the use of Methyl Acrylate
Stringent government regulations on methyl acrylate differ across countries and regions, with many jurisdictions implementing strict controls due to health and environmental concerns. Under the REACH regulation, any company producing or importing over one ton of methyl acrylate annually must register with the European Chemicals Agency (ECHA). This registration entails providing detailed information about the substance's properties, uses, and potential risks to human health and the environment. These regulations are designed to ensure that the handling of methyl acrylate is safe, preventing risks to public health and the environment. Consequently, compliance with these stringent regulations poses significant challenges to market growth for companies involved in the production and use of methyl acrylate.
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.
Methyl Acrylate Market Scope
The market is segmented on the basis of type, purity grade, application, and end user. The growth amongst these segments will help you analyse 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.
Type
- Industrial
- Pharmaceutical
Purity Grade
- Less Than Or Equal To 99%
- Greater Than 99%
Application
- Surface Coatings
- Chemical Synthesis
- Adhesives and Sealants
- Plastic Additives
- Detergents
- Textiles
- Others
End User
- Paint and Coating
- Automobile
- Packaging
- Construction
- Cosmetics
- Others
Methyl Acrylate Market Regional Analysis
The market is analysed and market size insights and trends are provided by type, purity grade, application, and end user as referenced above.
The countries covered in the 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, South Africa, Egypt, Israel, 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.
Asia-Pacific is expected to dominate the methyl acrylate market, driven by substantial investments in research and development. This focus on innovation is anticipated to enhance production capabilities and product offerings. China leads the region, supported by a robust presence of key players and manufacturers, fostering competitive advantages. As a result, the region is poised for significant growth in the methyl acrylate sector.
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.
Methyl Acrylate Market Share
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 market.
Methyl Acrylate Market Leaders Operating in the Market Are:
- Mitsubishi Chemical Group (Japan)
- NIPPON SHOKUBAI CO., LTD. (Japan)
- LG Chem (South Korea)
- Dow (U.S.)
- BASF SE (Germany)
- Arkema (France)
- DuPont (U.S.)
- EVONIK (Germany)
- Merck KGaA (Germany)
- Solventis (France)
- Shanghai Huayi Acrylic Acid Co., Ltd. (China)
- SIBUR INTERNATIONAL (Russia)
- Nouryon (Netherlands)
- Jurong Group Su (China)
- SHANDONG KAITAI PETROCHEMICAL Co., LTD. (China)
Latest Developments in Methyl Acrylate Market
- In June 2020, Merck KGaA achieved a significant milestone with the approval of BAVENCIO, a PD-L1 targeted NK-cell therapy specifically designed for patients with locally advanced or metastatic urothelial carcinoma. This innovative treatment option not only strengthens Merck KGaA’s commitment to advancing cancer care but also expands its product portfolio, providing clinicians with more effective tools to combat this challenging form of cancer and improve patient outcomes
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