Acrylate Market Analysis

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.