Acrylate Monomers Market will Exhibit a Steady 5.4% CAGR through 2017 - 2025
Mergers and acquisitions and expansion in new geographies have been envisaged to open growth opportunities in the global acrylate monomer market, notes the study.
Transparency Market Research foresees the global acrylate monomer market to attract a revenue of US$11,112.3 mn by the end of 2025 from US$6,987.9 mn in 2016, expanding at 5.4% CAGR between 2017 and 2025.
Based on product, the global acrylate monomers market is categorized into butyl acrylate, methyl acrylate, ethyl acrylate, 2-ethyl hexyl acrylate, and others. Of them, butyl acrylate and 2-ethyl hexyl acrylate are commonly used in the paint & coating industry.
Geography-wise, Asia Pacific holds the leading share in the global acrylate monomers market driven by a number of favorable factors.
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acrylate monmers market
Extensive Demand for Water-based Coatings in Developed Regions Benefits Market
“The extensive use of acrylate monomers in paints and coatings is chiefly driving the global acrylate monomers market. In particular, the demand for water based coatings is positively influencing the demand for acrylate monomers. This is because the use of acrylate monomers in water-based coatings enhances the physical properties of the formulation. In addition, it provides better water resistance, low temperature flexibility, and excellent weathering and sunlight resistance,” explains the author of the study. As per the Paint Quality Institute, water-based paints or coatings constitute almost 80% of paints sold for household use, in developed regions.
Acrylate monomers display properties of UV curability, weather resistance, and adhesiveness that make them suitable for a wide array of applications. Apart from this, superior durability and UV resistance, high flexibility, and gloss are the key properties of acrylate monomers that have boosted their demand.
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Acrylate monomers find extensive scope in polymer flooding technology used in the oil and gas sector. Studies reveal that acrylamide upon copolymerization with functional acrylate monomers enhance the physical properties such as temperature resistance and salt resistance of polymers that are used for flooding the reservoir. Though still in experimental stage, the results obtained so far are quite promising on grounds of which acrylate monomers may find commercial applications in the oil and gas industry.
Lastly, the growing popularity of superabsorbent polymers is also benefiting the acrylate monomers market.
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