The paints and coatings industry holds a positive outlook for the market, driven by various factors and applications that contribute to its 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 analyses that the Europe Acrylic Monomers Market is expected to reach the value of USD 2,718,142.83 thousand by 2030 from USD 1,901,459.57 thousand in 2022, at a CAGR of 4.7% during the forecast period.
Key Findings of the Study
- Increasing Spending 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 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 to 2015-2020)
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Quantitative Units
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Revenue in USD Thousand
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Segments Covered
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Product (Acrylamide and Methacrylamide, Acrylate, Acrylic Acids and Salts, Acrylonitrile, Bisphenol Acrylics, Carbohydrate monomers, Fluorinated Acrylics, Malemide, Polyfunctional Acrylics, 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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Germany, U.K., Italy, France, Spain, Switzerland, Russia, Turkey, Belgium, Netherlands, and Rest of Europe
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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.), Tokyo Chemical Industry Co., Ltd. (Japan) and 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 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
Europe 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 Europe acrylic monomers market
In 2023, the acrylate segment is expected to dominate the market with a 31.67% market share due to the growing paints and coatings industry.
- 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 Europe acrylic monomers market
In 2023, the plastic segment is expected to dominate the market with a 29.16% market share because of its versatility and widespread use in various industries, including packaging, automotive, construction, and consumer goods, due to its exceptional durability, transparency, and lightweight properties.
- 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 paints and coatings segment is expected to dominate the market with a 30.99% market share
Major Players
Data Bridge Market Research analyzes BASF SE (Germany), Arkema (France), Evonik Industries AG (Germany), NIPPON SHOKUBAI CO., LTD. (Japan), and Mitsubishi Chemical Group Corporation (Japan) as the major market players in the Europe acrylic monomers market.
Market Developments
- In May 2023, NIPPON SHOKUBAI CO., LTD. celebrated the inauguration of a new acrylic acid facility in Cilegon, Indonesia. This state-of-the-art facility boasts a production capacity of 100,000 MT/Y, reinforcing Nippon Shokubai's position as a major player in the acrylic monomer market
- In April 2023, Evonik achieved 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 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. Mitsubishi Chemical Group and Mitsui Chemicals will work together to develop stronger, more sustainable chemical logistics
- In November 2022, Arkema Inc. and Nippon Shokubai American Industries, Inc. (NAII), through their joint venture had strengthened their commitment to accelerate the decarbonization of energy sources by entering into a long-term power purchase agreement with EDF Energy Services, LLC (EDF) intended for 100% of their expected annual energy usage supplied by wind power
- 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 like diapers. This joint effort aims to provide sustainable alternatives to the petrochemical-based acrylic acid currently in use
Regional Analysis
Geographically, the regions covered in the Europe acrylic monomers market report are Germany, U.K., Italy, France, Spain, Switzerland, Russia, Turkey, Belgium, Netherlands, and Rest of Europe.
As per Data Bridge Market Research analysis:
Germany is expected to be the dominant and fastest growing region in the Europe acrylic monomers market
Germany is expected to dominate and fastest growing region in the Europe acrylic monomers market due to the growing paints and coatings industry in the region.
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