Global Isononyl Acrylate Market: Highlights
- The global isononyl acrylate market is projected to grow at a CAGR of around 5%between 2019 and 2027. Growth in the global adhesives industry is expected to provide the necessary momentum to the isononyl acrylate market in the next few years.
- Isononyl acrylate is an acrylic ester (acrylate), which has low glass transition temperature. Acrylic esters are largely employed in pressure-sensitive tapes. Furthermore the paints & coatings, is another key application industry, which has been expanding steadily since the last few years due to extensive demand from developed and developing regions.
- Factors such as expensive nature of isononyl acrylate and availability of cheaper substitutes such as 2EHA, butyl acrylate, methyl acrylate and ethyl acrylate are anticipated to hinder the growth of the isononyl acrylate market during the forecast period. Furthermore, High cost of production and long lead time are also expected to significantly obstruct the growth of the global isononyl acrylate market during the forecast period.
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Global Isononyl Acrylate Market: Segmental Trends
- In terms of applications, adhesives was the largest segment of the global isononyl acrylate market, accounting for nearly96% share in The segment is anticipated to continue its dominance during the forecast period due to continual growth from the pressure sensitive adhesive tapes market.
- Paints and coatings is another key application segment of the isononyl acrylate market. The segment is estimated to witness the moderate growth in the next few years due to the steady increase in demand for paints and coatings in developed regions. Isononyl acrylate is usually used in the elastic paints applications.
- The rise in demand for specialty paints has driven the market for specialty raw materials required to manufacture these paints and coatings. Several acrylic esters have traditionally been used in paints and coatings as raw materials, owing to elastic and adhesive nature of acrylic esters.
- Acrylates such as 2-ethylhexyl acrylates (2EHA), butyl acrylates, and ethyl acrylates are commercially used in the paints & coatings industry. Among these, 2EHA is a more commercially used raw material. The low glass transition temperature of 2EHA imparts efficiency to elastic paints and coatings.
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Global Isononyl Acrylate Market: Regional Highlights
- Asia Pacific dominates the isononyl acrylate market, followed by Europe and North America. Significant expansion in the adhesives and sealants application segments in developing regions is anticipated to be a key factor driving the isononyl acrylate market in these regions.
- Japan and China were major markets for isononyl acrylate in Asia Pacific in 2018. The adhesives segment has undergone a transformation over the past few years. The development of pressure-sensitive adhesive tapes is driving the market in the region. This trend is estimated to continue during the forecast period.
- Isononyl acrylate is utilized to control the rheological properties of paints and coatings. Advancements in the construction industry are propelling this sector in Middle East & Africa. However, it is projected to expand at a sluggish rate, owing to the availability of cheaper substitutes.
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Key Developments in Global Isononyl Acrylate Market
- Companies like Nitto Denko Corporation have developed acrylic adhesives based on isononyl acrylate as the main monomer due to its phenomenal characteristics.
- In2014, LG Chem, Ltd. filed a patent for the invention related to an acrylic adhesive tape and applying same on flat panel display. Isononyl acrylate may be used as acrylic acid based ester monomer for adhesion and cohesion force of the foam tape.
- In 2011, 3M Innovative Properties Company registered a patent under the name of pressure-sensitive adhesives derived from 2-alkyl alkanols.
- In 1983, Nissan Chemicals registered a patent under the name of isononyl acrylate monomer composition.
Global Isononyl Acrylate Market: Competition Landscape
- The global isononyl acrylate market is highly consolidated. Key players includeBOC Sciences, Osaka Organic Chemical Industry Ltd, and Angene International Limited.
- Japan is the major manufacturer of isononyl acrylate. Other Asian manufacturers are trying to enter the isononyl acrylate market however high cost of production and high degree of competition acts as a major barrier for the new entrant.
Companies in the Isononyl Acrylate market have increasingly shifted gears with wide application of digital technology across the continuum, from raw material sourcing to manufacturing to generation of final output, to warehousing to final distribution operations. Among the various affects, the market is witnessing new growth economics due to thinning of line between specialty and commodity businesses that are associated with the larger ecosystem. At the same time, new growth parameters are being vigorously being debated as industry stakeholders put greater emphasis on the circular economy processes.
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