According to ChemAnalyst report, “Global Butyl Acrylate Market: Plant Capacity, Production, Operating Efficiency, Process, Demand & Supply, End Use, Application, Sales Channel, Region, Competition, Trade, Customer & Price Intelligence Market Analysis, 2015-2030”, the global Butyl Acrylate market is expected to grow at a healthy CAGR of 4.18% during the forecast period on account of its increasing demand for manufacturing of acrylic polymers and polyethylene having application across various downstream industries including paints, coatings, adhesives, acrylic textiles and other products which are widely used in the construction sector.
Butyl Acrylate, an acrylate monomer is a clear liquid, flammable in nature and readily polymerized with monomer molecules to create polymer chains. It is prepared by mixing n-butanol and acrylic acid to produce butyl acrylate, water, and other by-products. The major demand driving factor of Butyl Acrylate is the production of homopolymers and co-polymers having applications in water based industrial paints. The growing consumption of water-based coatings which are applied onto the flooring and other surfaces to provide long-lasting finish and environmental protection would propel the demand for Butyl Acrylate in the coming years as well.
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In addition, Butyl Acrylate market is highly driven by construction activities and overall growth in construction and automotive industry globally. The report analyses that increasing construction sector will bolster demand of Butyl Acrylate in coming years which has reported sharp fall in consumption and overall demand in 2020 due to COVID-19 pandemic across the globe. As during 2020 pandemic lockdowns were imposed by the government across various nations and ban of international trade and other activities globally in order to prevent any disease outbreak has significantly affected the Butyl Acrylate market. It is an exceptionally reliable choice for building and construction industry due to its increased usage in various applications such as floor polish formulations, paints, and others. During the COVID-19 peak in 2020, majority of the manufacturers have shut down their production units which caused tight supply of raw material, acrylic acid from producer countries like Europe and China including international trade bans. This has caused Butyl Acrylate prices to rise by 2020 Q3 following resumption of construction activities and hence overall Butyl Acrylate demand recovery for the manufacturing of engineering plastic components globally.
The report has considered the impact of novel coronavirus on the global Butyl Acrylate market, taking into consideration the demand supply imbalance created due to the unprecedented crisis. The Butyl Acrylate market growth witnessed slight downward shift in 2020, as several countries adopted strict lockdown measures to curb the spreading of COVID-19, consequently leading to raw material disruptions and reduced offtake from the downstream acrylic ester industries. Butyl Acrylate prices were subjected to acute volatility during FY20 under the influence of unstable raw materials and feedstock availability issues due disrupted trade amid COVID-19 outbreak in 2020.
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According to ChemAnalyst report, “Global Butyl Acrylate Market: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End Use, Application, Distribution Channel, Region, Competition, Trade, Customer & Price Intelligence Market Analysis, 2015-2030”, some of the major Butyl Acrylate players operating in the global market are Arkema S.A., BASF S.E, Nippon Shokubai Co., Ltd, DowDupont Inc., LG Chem Ltd., Taogosei Co. Ltd., Mitsubishi Chemical Corporation, and SunVic Chemical Holdings Corporation, Formosa Plastics Corporation, Shenyang Chemical Co., Ltd, Haihang Industry Co., Ltd., Shanghai Huayi Acrylic Co., Ltd., Wanhua Chemical Group Co., Ltd. and others. Regionally, Asia-Pacific dominates the global Butyl Acrylate market holding nearly 50% of total market share followed by Europe and North America as of 2019. Asia-Pacific dominance is backed by additions of new acrylic acid & acrylic ester plants commenced by leading manufacturers, BASF SE & Arkema S.A. in the country to satisfy growing demand and hefty investments in the construction and paints & coatings industry. China, being the world’s largest country by population, holds vast potential towards accelerating the growth of global Butyl Acrylate market in the forecast period. Rapidly expanding population and construction activities in the counties like South Korea, Taiwan, India, and China would further drive the Asia Pacific market growth in the forecast period.
“ChemAnalyst estimates that the paints & coatings segment holds the largest share of Butyl Acrylate total global demand. The growth in construction sector which spur the need for paints, coatings, and other Butyl Acrylate applications viz., adhesives & sealants would strongly drive the global Butyl Acrylate market. It seems that due to government favorable policies and efforts towards reducing VOC emission plastics in environment would also prompt Butyl Acrylate market demand worldwide. In addition, high demand for water-borne coatings and films in the buildings with superior properties which include high stability, water, and heat resistance etc. including rising construction activities post lockdown lift-ups, the overall Butyl Acrylate consumption would grow tremendously. These factors would keep supporting the global Butyl Acrylate market in the long run. The pandemic has triggered strong inter-country political clashes while there has been a global shift in the trade preferences and hence significant changes in the supply chains and overall Butyl Acrylate prices. These factors are strong determinants of the future risks involved and potentially new markets which may originate in the forecast years, seeking opportunity amidst the COVID-19 crisis.”, said Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm promoting ChemAnalyst.
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