Acrylate Market - By Product Type (Methyl Acrylate, Ethyl Acrylate, Butyl Acrylate, 2-Ethylhexyl Acrylate), By Grade, By Application (Adhesives & Sealants, Paints & Coatings, Textiles, Plastics, Paper & Paperboard, Personal Care Products), By End Use & Forecast, 2023 – 2032

Acrylate Industry Market Size

Acrylate Market size was valued at around USD 11.3 billion in 2022 and is anticipated to grow at a CAGR of over 6% between 2023 and 2032.  Acrylate-based materials offer durability and adhesive & weather-resistant properties, increasing their adoption in construction, automotive, and packaging applications. The construction industry employs acrylate-based products, such as paints, coatings, adhesives, and sealants, in residential & commercial buildings. These materials also find extensive uses in various automotive applications as adhesives, coatings, and sealants.
 

In the packaging industry, acrylate-based products are utilized in flexible packaging, rigid packaging, and labeling applications, thereby contributing to market growth during the forecast period.
 

Acrylate production involves the use of raw materials such as acrylic acid and esters. Fluctuations in the availability and prices of raw materials can increase the overall production costs, affecting the profit margins of manufacturers. Acrylate-based products, particularly solvent-based formulations, may contain Volatile Organic Compounds (VOCs), which have negative impacts on human health and air quality. The implementation of environmental standards to reduce VOC emissions is prompting manufacturers to invest in the research & development of low-VOC alternatives. Also, alternatives to acrylate-based products, such as epoxy resins, polyurethanes, and other adhesives & coatings, pose threats to market players. Manufacturers need to continuously innovate their products and demonstrate the advantages of acrylate-based materials over substitutes to maintain their market position. These factors may create barriers to product adoption, further restricting acrylate market growth.
 

COVID-19 Impact

Border restrictions and lockdown measures imposed during the COVID-19 pandemic disrupted the global supply chain. This limited the availability and transportation of raw materials required for acrylate production. Reduced manufacturing activities in end-use industries, such as construction, automotive, and consumer goods, resulted in decreased demand. The pandemic led to delays in construction projects, temporary plant shutdowns, and reduced consumer spending on non-essential goods. The automotive industry faced challenges due to factory closures, supply chain disruptions, and reduced consumer demand for vehicles. The decline in automotive production and sales directly affected the demand for acrylate-based adhesives, coatings, and sealants used in automotive applications. Thus, the COVID-19 pandemic severely impacted market growth. However, with the implementation of subsequent strategies by government & non-government organizations and the gradual resumption of industrial activities, the acrylate industry is expected to grow in the post-pandemic period.
 

Acrylate Market Trends

Various industries including construction, automotive, and furniture are witnessing a rising demand for environmental-friendly and low-VOC coatings. Water-based acrylate coatings offer low odor, low toxicity, and ease of application, making them more beneficial compared to solvent-based coatings. The increasing focus on sustainability and growing environmental concerns are boosting the demand for bio-based & renewable acrylate materials. Manufacturers are using bio-based feedstocks and developing green production processes to create eco-friendly acrylates. Moreover, manufacturers are innovating UV-curable acrylates, which offer fast curing, high productivity, and excellent performance properties in various applications. Advanced UV-curable technologies, such as improved photo initiators and resins, are expanding the use of acrylates in areas such as 3D printing, electronics, and coatings. Thus, the increasing application scope of this product is expected to proliferate the acrylate industry demand during the projected period.
 

Acrylate Market Analysis

Based on product type, the acrylate market is segmented into methyl acrylate, ethyl acrylate, butyl acrylate, 2-ethylhexyl acrylate, and others. Methyl acrylate is used to produce adhesives, coatings, and sealants. These products are widely used in industries, such as construction, automotive, and packaging, thereby supporting segment growth. Increasing construction activities, rising automotive production, and the need for effective adhesives & coatings contribute to the demand for methyl acrylate. Ethyl acrylate is experiencing a high demand owing to the growing number of construction projects, increasing demand for flexible packaging, and the rising applications of high-performance adhesives.
 

Based on the grade, the acrylate market is divided into standard grade, technical grade, chemical grade, and pharmaceutical grade. The standard grade segment held a 45% market share in 2022 and is expected to grow at a lucrative pace through 2032. Standard-grade acrylates are used in coating, adhesive, sealant, and textile applications. Industrial & economic growth, increasing construction activities, and growing consumer demand for everyday products contribute to the demand for standard-grade acrylates.
 

Based on application, the acrylate market is divided into adhesives & sealants, paints & coatings, textiles, plastics, paper & paperboard, personal care products, and others. The adhesives & sealants segment held a dominant market share in 2022 and is anticipated to grow at 6.87% CAGR through 2032. In the adhesives & sealants segment, the increasing demand for flexible & high-performance adhesives and the need for strong bonding & sealing properties are driving the demand for acrylates. In the coatings & paints segment, acrylates are in high demand owing to the expanding construction and automotive industries, rising demand for eco-friendly & low-VOC coatings, and the need for products with enhanced durability & performance. The increasing demand for high-performance textiles and the need for products offering water & stain resistance are a few factors proliferating the demand for acrylates in the textiles & fibers segment.
 

Based on end use, the acrylate market is categorized into construction, automotive, packaging, textile, paints & coatings, adhesives & sealants, personal care, and others. The construction segment held a dominant market share in 2022 and is anticipated to grow throughout the years. The increasing infrastructure development, growing automotive production, rising packaging requirements, and advancements in electronic devices contribute to the demand for acrylates in the adhesives & sealants segment. Acrylates are being increasingly used in textiles & fibers owing to consumer preference for functional & performance textiles and the need for textiles offering properties such as water & stain resistance and durability.
 

The U.S. accounted for USD 2.4 billion in 2022 and is anticipated to expand at a rapid pace in the near future. The construction industry in North America employs acrylates in coatings, adhesives, sealants, and construction chemicals. The regional automotive industry is another significant consumer of acrylates, utilizing them in coatings, adhesives, sealants, and interior components. The packaging industry in North America utilizes acrylates in coatings, adhesives, and sealants for various packaging applications. These growth factors in various industries will boost North American industry demand.
 

Acrylate Market Share

Major players operating in the acrylate market are :

• Arkema SA
• BASF SE
• Dow Inc.
• Evonik Industries AG
• Mitsubishi Chemical Corporation
• LG Chem Ltd.
• Nippon Shokubai Co., Ltd.
• Hexion Inc.
• SIBUR Holding PJSC
•  Formosa Plastics Corporation.

These players focus on strategic partnerships, new product launches, and commercialization efforts for market expansion. They also emphasize R&D investments to introduce innovative products and garner maximum market revenue.
 

The acrylate market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD Billion) & volume (Kilo Tons) from 2018 to 2032, for the following segments:

Click here to Buy Section of this Report

By Product Type

• Methyl acrylate
• Ethyl acrylate
• Butyl acrylate
• 2-ethylhexyl acrylate
• Others

By Grade

• Standard grade
• Technical grade
• Chemical grade
• Pharmaceutical grade

By Application

• Adhesives & sealants
• Paints & coatings
• Textiles
• Plastics
• Paper & paperboard
• Personal care products
• Others

By End Use

• Construction
• Automotive
• Packaging
• Textile
• Paints & coatings
• Adhesives & sealants
• Personal care
• Others

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Spain
  • Italy
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Indonesia
  • Malaysia 
• Latin America
  • Brazil
  • Mexico
  • Argentina
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Egypt