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Increase in demand for lightweight and low-cost engineered plastic in construction, automotive is major factors driving Acrylate Monomer Market
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Based on industrial grades, the market for acrylate monomer has been segmented into methyl methacrylate (MMA), ethyl methacrylate (EMA), butyl methacrylate (BMA), and 2-ethylhexyl methacrylate (2-EHMA). 2-EHMA is expected to be a dominant segment of the global acrylate monomer market during the forecast period. This is primarily due to characteristic features of acrylate monomer such as low bond volatility and reactivity caused by its high molecular weight. 2-EHMA is extensively used in the production of copolymers and homo-polymers in a wide range of industries. This makes it an excellent choice for plasticizing in several applications. However, other industrial grade segments such as MMA, BMA, and EMA are less dominant, as these grades are more hazardous in the event of uncontrolled polymerization.
Increase in demand for lightweight and low-cost engineered plastic in construction, automotive, aerospace, electronics, and other industries is one of the major factors driving the global acrylate monomer market. High demand for pressure-sensitive adhesives that can bond well to low-surface-energy (LSE) plastics also contributes to the market growth. Further, usage of acrylate monomers improves freeze thaw stability, mechanical stability, and increases the shelf life of paints. These factors fuel the demand for acrylate monomers in the paints & coatings industry. Acrylate monomer is highly reactive in nature. It polymerizes rapidly, thereby generating a large amount of heat. Hence, producing less volatile monomer provides immense opportunities for the manufacturing industry to use acrylate monomer. Fluctuation in prices of raw materials may hamper the growth of the market for acrylate monomer.
In terms of regions, the global acrylate monomer market has been segmented into Asia Pacific, Europe, North America, Middle East & Africa, and Latin America. Asia Pacific is anticipated to dominate the global acrylate monomer market, followed by Europe and North America, during the forecast period. This is primarily ascribed to the rapid industrialization, high GDP growth, and developing infrastructure in countries such as China and India. Increase in disposable income of people in Asia Pacific has boosted the demand for automobiles. This is augmenting the demand for plastics, which, in turn, is driving the acrylate monomer market in the region. The U.S. and Germany are projected to witness high demand for acrylate monomer, owing to expected rapid growth in various end-user industries such as adhesives, personal care, and sealants during the forecast period. Increasing R&D activities these countries are anticipated to offer less volatile acrylate monomers, thereby providing growth opportunities for the market. Manufacturers in developing economies in Latin America and Middle East & Africa are entering into partnerships to develop acrylate monomers that meet specific needs of various industrial applications.
Major players operating in the global acrylate monomer market are BASF SE,
Dow Chemical Company, Hexion Inc., American Acryl L.P., Formosa Plastics Corporation, Rohm and Haas Company, LG Chem, Mitsubishi Chemical Holding, and StoHaas Monomer GmbH.
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Eastern Europe (Poland and Russia)
Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
Middle East and Africa (GCC, Southern Africa, and North Africa)
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