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Butyl Acrylate Market 2024 - By Industry Demand, Leading Players, Regional Overview And Forecast To 2033
Butyl Acrylate Market
As per the report, the butyl acrylate market size has grown strongly in recent years. It will grow from $4.85 billion in 2023 to $5.17 billion in 2024 at a compound annual growth rate (CAGR) of 6.8%. The butyl acrylate market size is expected to see strong growth in the next few years. It will grow to $6.76 billion in 2028 at a compound annual growth rate (CAGR) of 6.9%.
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Automotive Sector Expansion Fuels Growth In The Butyl Acrylate Market
The expansion of the automotive sector is expected to propel the growth of the butyl acrylate market going forward. The automotive sector encompasses the design, development, manufacturing, marketing, and sale of motor vehicles, including cars, trucks, buses, motorcycles, and other types of vehicles. The expansion of the automotive sector is due to improved economic conditions, government incentives and regulations, consumer preferences, and lifestyle changes. Butyl acrylate is used in the automotive sector to manufacture high-performance coatings and adhesives that provide durability and aesthetic finishes. For instance, in May 2023, according to the European Automobile Manufacturers Association, a Belgium-based automobile manufacturers association, the global production of motor vehicles reached 85.4 million units in 2022, reflecting a notable increase of 5.7% compared to 2021. Therefore, the expansion of the automotive industry is driving the growth of the butyl acrylate market.
Strategic Expansion In Butyl Acrylate Market To Meet Growing Demand
Major companies operating in the butyl acrylate market are increasing their focus on developing acrylic acid facilities to meet growing demand and ensure long-term profitability. The expansion of a new plant refers to the process of improving the capacity or capability of a manufacturing or production facility. For instance, in March 2023, BASF SE, a Germany-based chemical company, inaugurated a new acrylic production facility at its Zhanjiang Verbund site in China. The complex will have an annual capacity of 400,000 metric tons of butyl acrylate (BA) and 100,000 metric tons of 2-ethylhexyl acrylate (2-EHA) alongside glacial acrylic acid (GAA) plants. This expansion aims to meet the growing demand for acrylics in various industries across China and Asia, including hygiene, paint, and coatings. Acrylic acid is essential for producing superabsorbent polymers, while butyl acrylate and 2-ethylhexyl acrylate are crucial raw materials for adhesive and coating manufacturing.
The butyl acrylate market covered in this report is segmented -
1) By Product Type: I-Butyl Acrylate, N-Butyl Acrylate, T-Butyl Acrylate
2) By Purity: High Purity, Common Purity
3) By Application: Paints And Coatings, Adhesives And Sealants, Chemical Synthesis, Plastic Additives, Textiles, Other Applications
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Major companies operating in the butyl acrylate market are China Petroleum and Chemical Corporation, ExxonMobil Corporation, BASF SE, Bharat Petroleum Corporation Limited, The Dow Chemical Company, LyondellBasell Industries Holdings B.V, LG Chem Ltd., Mitsubishi Chemical Holdings, Wanhua Chemical Group Co. Ltd., Evonik Industries AG, Sasol Limited, Arkema Chemicals SA, Formosa Plastics Corporation, Sibur, Nippon Shokubai Co Ltd, Satellite Chemical Co Ltd, TCI Chemicals Pvt. Ltd., JBN SERVICES, Oswal Udhyog Group, Vizag Chemical, Otto Chemie Pvt Ltd, Dhalop Chemicals, KR Chemicals
Contents of the report:
1. Executive Summary
2. Butyl Acrylate Market Report Structure
3. Butyl Acrylate Market Trends And Strategies
4. Butyl Acrylate Market - Macro Economic Scenario
5. Butyl Acrylate Market Size And Growth
…..
27. Butyl Acrylate Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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