Isobutyl acrylates Market Poised to Expand at a Robust Pace Over 2018 – 2028-end
Isobutyl acrylates are the ester of acrylic acid and isobutyl alcohol. They are used as raw materials for adhesives, plastics, coatings and emulsions. It is a colorless liquid and poses an irritant odor. Isobutyl acrylates are widely being adopted in the end-use industries such as automotive, building & construction and others. The global isobutyl acrylates market is expected to foray ahead with a considerable CAGR over the forecast period of 2019-2029. Increasing demand for isobutyl acrylates in applications, such as adhesives, sealants, plasticizers, coatings, thermoplastics etc. is poised to drive the global isobutyl acrylates market. Key players of the market including BASF SE, Mitsubishi Chemical Corporation, Nippon Shokubai Co. Ltd. etc. are dedicated towards increasing the application areas of isobutyl acrylates and minimizing its negative effects. However, the isobutyl acrylates market growth is restricted by the high inflammable nature of the chemical along with fluctuating raw material prices.
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Increasing demand for isobutyl acrylates from the end-use industries worldwide is providing traction to the market growth over the forecast period
Increase in construction industry tends to increase the number of infrastructures and buildings that further create a wide adoption base for isobutyl acrylates, thereby driving the market growth over the forecast period. According to Institution of Civil Engineers, UK, a report “Global Construction Perspectives and Oxford Economics” suggests that the global construction market is expected to reach US$ 8 trillion by the end of 2030. Also, China, India and United States will lead the industry by accounting for about 57% of the global construction industry growth. Furthermore, continuously increasing population rates and urbanization are some of the factors that are positively supplementing market growth till 2028. Moreover, growth in automotive production also tends to open wide adoption avenues for isobutyl acrylates market over the forecast period. As per OICA (International Organization of Motor Vehicle Manufacturers), Paris, the total cars and commercial vehicle production in 2016 was recorded to be around 72.1 million that further escalated up to 73.4 million in 2017. Also, Asia Pacific is a key region considering automotive production. Thus, increasing automotive production consequently calls for adhesives, sealants and coatings that are recognized as the major application areas for isobutyl acrylates.
Segmentation analysis of Isobutyl acrylates Market
The global isobutyl acrylates market is bifurcated into three major segments that are application, end-use industry and region.
On the basis of application, the global isobutyl acrylates market is divided into:
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On the basis of end-use industry, the global isobutyl acrylates market is divided into:
Building & Construction
Based on region, the global isobutyl acrylates market is segmented as:
South Asia & Oceania
Middle East & Africa (MEA)
Isobutyl acrylates Market: Regional Outlook
The global isobutyl acrylates market is segmented into six regions including North America, Latin America, Europe, East Asia, South Asia & Oceania and MEA. Among the above-mentioned regions, East Asia along with South Asia & Oceania are the regions that contributed maximum market share in 2018 in terms of volume owing to high adoption of Isobutyl acrylates across automotive and building & construction industries. India is expected to be a key market for isobutyl acrylates in the future years. Furthermore, Europe is expected to follow East Asia in terms of volume in 2018. High automotive production within the region along with the presence of key players are some of the reasons driving Europe isobutyl acrylates market. Moreover, Middle East & Africa along with Latin America accounts for a substantial market share in terms of isobutyl acrylates demand in 2018.
Key players of isobutyl acrylates Market
Prominent players in the global isobutyl acrylates market are BASF SE, Mitsubishi Chemical Corporation, Osaka Organic Chemical Industry Ltd., Nippon Shokubai Co. Ltd., Solventis Limited and others. The isobutyl acrylates market consists of well-diversified global and regional players with global vendors ruling the market.
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