Acrylate Market worth $14.7 Billion by 2028 | Key players Arkema S.A. (France), BASF SE (Germany), Dow Inc. (US), Nippon Shokubai Co., Ltd. (Japan), Evonik (Germany).

According to recent market research the "Acrylate Market by Chemistry, Application (Paints & Coatings, Plastics, Adhesives & Sealants, Fabrics), End-use Industry (Building & Construction, Packaging, Consumer Goods, Automotive, Textiles, Biomedical), & Region - Global Forecast to 2028", The acrylate market is projected to reach USD 14.7 Billion by 2028, at a CAGR of 6.4% from USD 10.8 Billion in 2023. The acrylate market is mainly driven by the demand for acrylate in various end-use industries, including building & construction, packaging, consumer goods, automotive, textiles, bio-medical, cosmetic & personal care. Moreover, it is also driven by rapidly developing and emerging economies such as India, China, and Japan.

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2-ethylhexyl acrylate (2-EHA) is a clear, colorless liquid with a specific odor. Its density is less than water and so it is not soluble in water. 2-EHA is soluble in organic solvents and can be easily polymerized with monomer molecules to form polymer chains.

Paints & coatings are widely used in buildings, automobiles, industrial goods, paper, and consumer goods to decorate, protect, and improve the life of the surface as well as resistance to environmental conditions. The demand for paints & coatings is high as they provide protection against weather conditions, dampness, corrosion, and fungi.

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The markets of Asia Pacific are registering high growth, and the trend is projected to continue during the forecast period. Emerging economies such as India, China, and Japan are investing in various industrial developments that are driving the acrylate market.

New product launches and expansions are the major growth strategies adopted by the key players in the market. The key global players in the acrylate market include Arkema S.A. (France), BASF SE (Germany), Dow Inc. (US), Nippon Shokubai Co., Ltd. (Japan), Evonik (Germany), LG Chem (South Korea), Mitsubishi Chemical Group Corporation (Japan), Sasol (South Africa), Sibur (Russia), and Wanhua Chemical Group Co. Ltd. (China)

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BASF is a leading chemical company. The company operates under 6 business segments: Chemicals, Materials, Industrial Solutions, Surface Technologies, Nutrition & Care, and Agricultural Solutions. It offers acrylate through the functional chemicals business segment. The company's research is divided into three global divisions: Process Research & Chemical Engineering, Advanced Materials & Systems Research and Bioscience Research. It supplies products and services to 90,000 customers. The company holds one of the top three market positions in around 80% of the business areas in which it is active. The company operates 6 Verbund sites and 232 additional production sites across Europe, Asia Pacific, North America, South America, Central America, Middle East & Africa.

Arkema S.A. is one of the leading companies providing specialty materials. The company has expertise in material science and designs materials to address the ever-growing demand for innovative and sustainable materials. The company operates through four business segments, namely adhesive solutions, advanced materials, coating solutions, and intermediates, and provides acrylate under the coating solution segment. Arkema S.A. serves various industries, including agriculture and food, automotive, transportation and aerospace, building and construction, electronics and electricals, chemicals and plastics, pulp and paper, and oil and gas.

The company has a strong global presence, operating through 44 plants and 5 R&D centers in North America, 60 plants and 7 R&D centers in Europe, and 44 plants and 4 R&D centers in Asia Pacific and the rest of the world. In 2022, the company filed 205 patents, 92% of which were related to sustainable development.

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