The global butyl acrylate market depicts a competitive and fragmented landscape, thanks to the entry of large number of small players, reports Transparency Market Research (TMR). The global butyl acrylate market players are expected to increase price substantially in the near future, due to upward pressures in demand, adds TMR. Some key players in the butyl acrylate market are Arkema S.A., BASF S.E, Nippon Shokubai Co., LTD, Dowdupon Inc., LG Chem Ltd., Taogosei Co., Ltd., Mitsubishi Chemical Corporation, and SunVic Chemical Holdings Corporation.
The global butyl acrylate is witnessing several innovations by key players, especially in the areas of coatings, adhesives, and automotive. Key players in the market are also investing in upgrading their facilities to meet rising demand in the near future. For example, in 2018, Nippon Shokubai announced its plants to set up a new acrylic acid plant in Indonesia. A press release of the company stated, “The demand and supply balance of AA is highly tight, especially in Asia”.
The global butyl acrylate market is expected to touch US$ 8.1 bn in evaluation by 2026 end. It is expected to grow at a healthy 5.0% CAGR during 2018 and 2026. The high purity segment in the global butyl acrylate market is expected to register significant growth along with paints and coatings. Paints and coatings as application dominated the market at the beginning of the forecast period and are expected to grow at a rapid pace. The increased demand for coatings and paints in Asia Pacific, due to rising construction activity are expected to drive demand.
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Rising Demand for Automotive A Boon for the Butyl Acrylate Market
Vehicle sales are rising in emerging economies. The region is witnessing a major influx of first-time buyers and a significant number of luxury buyers as well. This is expected to emerge as a major opportunity for players in the butyl acrylate market. Butyl acrylate is widely used as a raw material for manufacturing engineered automotive products. Products such as acrylic elastomers are rising in demand in the auto industry due for parts such as seals, hoses, dampers, and gaskets. These are much more cost-effective as compared to the alternatives manufactured using fluorocarbon polymers. Additionally, they are ideal for catering to automotive industry’s demand for withstanding high temperature and hydrocarbon oils. Acrylics are also prominent in automotive coatings and printing inks, which require rapid drying mechanisms. Hence, they are used as lacquers and coatings.
On the other hand, several products from the butyl acrylate market require safe handling precautions due to their flammable nature. These are also under increased scrutiny due to environmental regulations.
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High Purity Chemicals to Propel the Butyl Acrylate Market
The butyl acrylate market is divided into high purity chemical and common purity chemical. The butyl acrylate chemicals offers various key characteristics for end-users, which makes it popular for adhesive materials and water-based coatings. The chemical offers high strength, chemical resistance, chemical resistance, rigidity, and thermal endurance as well. Additioanlly, The high purity chemicals are essential in engine components and vehicle interiors. Due to rising demand for vehicles in emerging economies, these are expected to outdo the common purity butyl acrylate varieties. The common purity chemicals are lab-based scaled down polymers.
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