The global butyl acrylate market depicts a competitive andfragmented landscape, thanks to the entry of large number of small players,reports Transparency Market Research (TMR). The global butyl acrylate marketplayers are expected to increase price substantially in the near future, due toupward pressures in demand, adds TMR. Some key players in the butyl acrylatemarket are Arkema S.A., BASF S.E, Nippon Shokubai Co., LTD, Dowdupon Inc., LGChem Ltd., Taogosei Co., Ltd., Mitsubishi Chemical Corporation, and SunVicChemical Holdings Corporation.
The global butyl acrylate is witnessing several innovations by keyplayers, especially in the areas of coatings, adhesives, and automotive. Keyplayers in the market are also investing in upgrading their facilities to meetrising demand in the near future. For example, in 2018, Nippon Shokubaiannounced its plants to set up a new acrylic acid plant in Indonesia. A pressrelease of the company stated, “The demand and supply balance of AA is highlytight, especially in Asia”.
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The global butyl acrylate market isexpected to touch US$ 8.1 bn in evaluation by 2026 end. It is expected to growat a healthy 5.0% CAGR during 2018 and 2026. The high purity segment in theglobal butyl acrylate market is expected to register significant growth alongwith paints and coatings. Paints and coatings as application dominated themarket at the beginning of the forecast period and are expected to grow at arapid pace. The increased demand for coatings and paints in Asia Pacific, dueto rising construction activity are expected to drive demand.
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RisingDemand for Automotive A Boon for the Butyl Acrylate Market
Vehicle sales are rising in emergingeconomies. The region is witnessing a major influx of first-time buyers and asignificant number of luxury buyers as well. This is expected to emerge as amajor opportunity for players in the butyl acrylate market. Butyl acrylate iswidely used as a raw material for manufacturing engineered automotive products.Products such as acrylic elastomers are rising in demand in the auto industrydue for parts such as seals, hoses, dampers, and gaskets. These are much morecost-effective as compared to the alternatives manufactured using fluorocarbonpolymers. Additionally, they are ideal for catering to automotive industry’sdemand for withstanding high temperature and hydrocarbon oils. Acrylics arealso prominent in automotive coatings and printing inks, which require rapiddrying mechanisms. Hence, they are used as lacquers and coatings.
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On the other hand, several products from the butyl acrylate marketrequire safe handling precautions due to their flammable nature. These are alsounder increased scrutiny due to environmental regulations.
High Purity Chemicals to Propel theButyl Acrylate Market
The butyl acrylate market is divided into high purity chemical andcommon purity chemical. The butyl acrylate chemicals offers various keycharacteristics for end-users, which makes it popular for adhesive materialsand water-based coatings. The chemical offers high strength, chemicalresistance, chemical resistance, rigidity, and thermal endurance as well.Additioanlly, The high purity chemicals are essential in engine components andvehicle interiors. Due to rising demand for vehicles in emerging economies,these are expected to outdo the common purity butyl acrylate varieties. Thecommon purity chemicals are lab-based scaled down polymers.
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