The rising demand for Acrylic monomers across various industries is propelling the growth of the market.
Acrylic monomers Market Size – USD 9.32 Billion in 2018, Growth - CAGR of 4.6%, Trends – The growing demand from the Asia Pacific region.
The global Acrylic Monomers Market is forecast to reach USD 13.46 Billion by 2026, according to a new report by Reports and Data. The rising demand for Acrylic monomers across various industries, coupled with the need for durable paints and coatings, will boost the growth of the market. The application of Acrylic-based monomers as coatings is used in various industries such as architecture, automotive, and other industries. The architecture sector uses these coatings as surface coatings on aluminum, building surfaces, plastic, metals, glass, paper, steel, and more. In the automotive industry Acrylic coatings offer a rich gloss effect as well as a shield from mechanical and chemical attack.
Reports and Data's Global Acrylic Monomers Market research report is an in-depth investigation that provides an industry-wide overview of existing and emerging growth patterns, end-user analysis, and other key data that has been tested and validated by industry experts and professionals. The report examines the market in terms of importance, share, size, demand and supply, patterns, competitive landscape, industrial chain analysis, and other important factors. The report also provides a detailed outlook for the industry's driving and restraining forces, as well as micro and macroeconomic factors that are expected to influence its development.
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Top Companies: Evonik Industries, The DOW Chemical Company, Mitsubishi Chemical, LG Chem, Sumitomo Chemical, BASF, Arkema, Nippon Shokubai, Eastman Chemical Company, Esstech, Estron Chemical, Fushun Anxin Chemical, Miwon Specialty Chemical, Kuraray, Gelest, Gantrade Corporation, Chi Mei Corporation, Asahi Kasei, Ted Pella, and Hitachi Chemical, among others. The companies have adopted various strategies, including mergers, acquisitions, and partnerships to hold ongoing trails and come up with new developments in the market.
Further key findings from the report suggest:
- Tert-butyl Acrylic accounts for the largest market share of ~24% in the year 2018. Tertiary-butyl Acrylic is a highly versatile monomer, with UV weather ability, and superior solubility properties. It has applications in numerous areas such as feedstock for chemical syntheses. These monomers increase the viscosity and reduce the temperature characteristics of lubricants, which helps in the conservation of energy.
- The paints coating application account for the largest market share of ~22% in the year 2018. Acrylic paints contain one or more Acrylic-based products, which help enable paints and coatings to be applied efficiently while producing a durable and long-lasting coating. This helps to protect the surface from sunlight, rain, and other factors that may cause the layers to degenerate. The durability of Acrylic-based paints and coatings is used for numerous applications, such as roadway marking paints.
- The electronics industry accounted for the largest market share of ~18% in the year 2018. The electronics industries use Acrylic-based polymers to manufacture flat-screen computer monitors and televisions, as well as in DVDs, compact discs and laser discs. Printed circuit board coatings also contain Acrylic, which can provide them with increased resistance to corrosion, and improving their service life.
- North America held the second-largest market share of ~25% in the year 2018, owing to the demand for Acrylic monomers for several applications across many industries, such as marine, electronics, automotive, and aerospace, among others.
Market Overview:
Consumers are placing a higher importance on sustainability and, as a result, are choosing items based on factors like circularity and carbon footprint. Furthermore, consumer concern about carbon emissions has prompted increased investment in renewable energy, energy efficiency, and transportation decarbonization. These developments have had considerable impact on chemical end sectors, particularly in the automobile and construction industries. COVID-19 has exacerbated the situation by lowering the automobile and construction industries (as well as many others) and disrupting current supply lines.
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Market Segmentation:
The report is written with the aid of industry analysts, market segmentation, and data collection in order to assist readers in making profitable business decisions. The report includes a comprehensive database of technical and product advances. It also provides information on growth rates and market value, as well as a thorough examination of niche market segments. The report provides strategic advice to newcomers and existing businesses about how to make profitable and well-informed business decisions.
The global Acrylic Monomers market is segmented into:
Application Outlook (Volume, Kilo Tons; and Revenue, USD Billion; 2016-2026)
- Acrylic Sheets
- Molding
- Paints and Coatings
- Additives
- Adhesives
- Others
Derivatives Outlook (Volume, Kilo Tons; and Revenue, USD Billion; 2016-2026)
- Behenyl Acrylic
- Tert-Butyl Acrylic
- Cyclohexyl Acrylic
- Iso-Decyl Acrylic
- Stearyl Acrylic
- Others
Industry Vertical Outlook (Volume, Kilo Tons; and Revenue, USD Billion; 2016-2026)
- Automotive
- Architecture
- Electronics
- Advertisement Communication
- Building Construction
- Healthcare Life Science
- Aerospace
- Marine
- Others
Regional Outlook:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key Questions Addressed in the Report:
- What are the dominating factors that are influencing the growth of the industry?
- In the forecast period, which market segment is expected to rise the most?
- What are the risks and challenges that the industry is facing?
- In the coming years, which area is projected to dominate the market?
- Who are the major players in the market? What kind of strategic business plans have they made?
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