https://www.meticulousresearch.com/product/acrylate-market-6082
The global acrylate market is projected to reach $18.31 billion by 2031, growing at a CAGR of 7.4% from 2024 to 2031, driven by increasing demand for adhesives, sealants, paints, coatings, and polyethylene. The market is also expanding due to the rising use of acrylates in medical and healthcare applications, as well as the increasing demand from emerging economies. Additionally, there is a growing trend toward low-VOC and eco-friendly acrylate products, as well as high-performance acrylates in automotive coatings.
Key players in the acrylate market include BASF SE, Mitsubishi Chemical Corporation, Evonik Industries, Kuraray Co., Ltd., Nippon Shokubai Co., Ltd., Arkema S.A., The Dow Chemical Company, Sasol Limited, KH Chemicals BV, LG Chem, SIBUR International GmbH, and Polysciences, Inc. These companies operate in a moderately competitive market with numerous global, regional, and local players.
Among the product segments, butyl acrylate is expected to dominate the market in 2024 due to its extensive use in adhesives, paints, coatings, and automotive applications. In terms of grade, standard grade acrylates are anticipated to maintain a strong market position due to their cost-effectiveness and balanced performance in construction applications. The adhesives and sealants segment is expected to hold the largest share in the market, driven by the growing demand for flexible, high-performance bonding solutions.
Regionally, Asia-Pacific is expected to lead the acrylate market in 2024, driven by factors like rapid industrialization, urbanization, and population growth. China is anticipated to hold the largest market share in the region due to its dominance in manufacturing and infrastructure development. The global trend towards green buildings and increasing investments in infrastructure will further support market growth in the coming years.
