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Automotive Sector Expansion Fuels Growth In The Butyl Acrylate Market: A Key Factor Shaping the Future of the Butyl Acrylate Market in 2025
Butyl Acrylate Market Size
The size of the butyl acrylate market has shown significant expansion in the past few years. It is projected to rise from $5.17 billion in 2024 to $5.55 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 7.2%. The surge during the historical time frame can be associated with factors including the demand from construction and building industries, the development of the automotive sector, the widening scope of the packaging industry, socioeconomic growth, urbanization, and infrastructural progress.
Expectations are high for the butyl acrylate market to experience robust growth in the coming years. The market is projected to expand to $7.22 billion in 2029, with a compound annual growth rate (CAGR) of 6.8%. This growth over the forecast period can be ascribed to factors such as the rising demand from end-use industries, economic expansion, advancements in technology, the availability and pricing of raw materials, and environmental regulations. Key trends anticipated during the forecast period encompass technological innovations, improvements in manufacturing technologies, a surge in mergers and acquisitions, and novel product offerings.
What Key Elements Are Boosting Growth in the Butyl Acrylate Market?
The butyl acrylate market is predicted to burgeon with the growth of the automotive industry. The automotive industry, which includes the conceptualization, development, production, promotion, and sales of motor vehicles such as cars, motorcycles, trucks, buses and more, is expanding due to factors like better economic circumstances, government schemes and rules, evolving consumer choices, and changes in lifestyle. Butyl acrylate finds application in this industry, primarily in the production of high-quality coatings and adhesives that offer longevity and pleasing visual finishes. The European Automobile Manufacturers Association from Belgium reported in May 2023 that the worldwide production of motor vehicles saw a striking ascent to 85.4 million units in 2022, marking an impressive 5.7% rise from 2021. Consequently, the growth of the automotive sector is accelerating the expansion of the butyl acrylate market.
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Which Businesses Are at the Forefront of Butyl Acrylate Market Development?
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
What Are the Latest Innovations in the Butyl Acrylate Market?
The key players in the butyl acrylate market are shifting their attention towards establishing acrylic acid facilities to satiate the escalating demand and to secure sustained profitability. For example, in March 2023, the Germany-based chemical company, BASF SE, launched a new acrylic production facility at its Zhanjiang Verbund location in China. The plant is projected to have an annual production capacity of 400,000 metric tons of butyl acrylate (BA), 100,000 metric tons of 2-ethylhexyl acrylate (2-EHA), and additional glacial acrylic acid (GAA) plants. With this enlargement, the company seeks to cater to the proliferating demand for acrylics in diverse sectors throughout China and Asia, including but not limited to hygiene, paint, and coatings. There is an importance of acrylic acid in the fabrication of superabsorbent polymers, as well as the necessity of butyl acrylate and 2-ethylhexyl acrylate as paramount raw materials for the production of adhesive and coating.
How Is the Butyl Acrylate Market Segmented?
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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Where Is the Butyl Acrylate Market Growth Most Prominent?
North America was the largest region in the butyl acrylate market in 2024. The regions covered in the butyl acrylate market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Is Covered In The Butyl Acrylate Global Market Report?
- Market Size Analysis: Analyze the Butyl Acrylate Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Butyl Acrylate Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Butyl Acrylate Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Butyl Acrylate Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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