Global Crotonic Acid Market: Growth, Trends, and Forecast

In 2019, sales of paints and coatings around the world generated $172.8 billion, says the World Paints and Coatings Industry Association (WPCIA). This is attributed to the rising disposable income, burgeoning construction activities, shorter renovation cycles, and rapid urbanization. The rising demand for paints and coatings, in turn, is predicted to propel the global crotonic acid market size to $853.7 million by 2025 from $592.0 million in 2020, at a 7.9% CAGR between 2021 and 2025.

To receive free sample pages of this report@ https://www.psmarketresearch.com/market-analysis/crotonic-acid-market/report-sample

This is because this white, crystalline solid is a key ingredient of paints and coatings. The chemical, when mixed with other compounds, forms a copolymer, which, in turn, leads to the creation of a thickener. The thickener is itself used during the manufacturing of glossy emulsion paints. Another key reason for the crotonic acid market advance is the rising demand for the compound for the production of adhesives, where it is used as a comonomer with vinyl acetate.

The crotonic acid market growth has slowed down during the COVID-19 crisis, owing to the suspension of operations in many end-use industries, including textile, paints and coatings, automotive, and packaging. This resulted in a massive reduction in the demand for this acid from industries, which themselves witnessed a low demand for the end products due to the widespread financial insecurity.

Inquire before purchase@ https://www.psmarketresearch.com/send-enquiry?enquiry-url=crotonic-acid-market

The paints and coatings division held the largest share in the crotonic acid market in the past, on the basis of end user. Binders containing crotonic acid are used in paints and coatings to hold the pigments together, by tightly binding them. In this regard, the burgeoning requirement for paints and coatings in the automotive, construction, and packaging industries is aiding in the market advance.

China is the largest consumer of the compound currently, and it is also projected to experience the highest crotonic acid market CAGR in these five years. Due to the large number of residential and commercial properties being repaired and renovated, the demand for paints and coatings is increasing in the country. Moreover, large amounts of crotonic acid are consumed during the manufacturing of intermediates, fungicides, and plasticizers in China.

About P&S Intelligence

P&S Intelligence provides market research and consulting services to a vast array of industries across the world. As an enterprising research and consulting company, P&S believes in providing thorough insights on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness. P&S keeps the interest of its clients at heart, which is why the insights we provide are both honest and accurate. Our long list of satisfied clients includes entry-level firms as well as multi-million-dollar businesses and government agencies.

Contact:
P&S Intelligence
Phone: +1-347-960-6455
Email: enquiry@psmarketresearch.com
Web: https://www.psmarketresearch.com

This release was published on openPR.