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Acrylate Market Trends

Report ID: GMI6223
Published Date: Jul 2023
Report Format: PDF

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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.

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

The market size for acrylate was valued at around USD 11.3 billion in 2022 and is estimated to reach USD 17.8 billion by 2032, owing to the increasing demand for packaging products.

The standard grade segment held a 45% market share in 2022 and is expected to grow at a lucrative pace by 2032 as the product is widely used in coating, adhesive, sealant, and textile applications.

The U.S. acrylate market accounted for USD 2.4 billion in 2022 and is anticipated to expand at a rapid pace in the near future, owing to expanding construction, automotive, and packaging industries across the region.

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