Butyl Acrylate Market Size, Share, Growth, and Industry Analysis, By Type (Above 99.5% and Below 99.5%), By Application (Adhesives & Sealants, Plastics, Paint & Coatings, Textiles and Others (Consumer Goods, Water Treatment) Regional Insights, and Forecast To 2032

Updated On: 29 April 2024

BUTYL ACRYLATE MARKET REPORT OVERVIEW

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global butyl acrylate market size was USD 5115.81 million in 2021 and market is projected to touch USD 8352.72 million by 2032 at CAGR 4.56% during the forecast period.

Butyl acrylate is an organic compound that belongs to the acrylate family, which are esters of acrylic acid. It has the chemical formula C7H12O2 and the molecular weight of 128.17 g/mol. It is a clear, colourless, and flammable liquid that has a fruity odour and a boiling point of 147.6 °C. It is mainly used as a monomer or a co-monomer in the production of various polymers, such as acrylic resins, polyvinyl acetate, and polyvinyl chloride. These polymers are widely used in various applications, such as paints, coatings, adhesives, sealants, plastics, and textiles.

The butyl acrylate market is a segment of the acrylic esters market, which is a part of the petrochemicals industry. The market is influenced by various factors, such as the demand and supply of butyl acrylate and its derivatives, the price and availability of raw materials, such as propylene and acrylic acid, the innovation and development of production and purification technologies, the environmental and health regulations and standards, and the economic and social conditions of the regions and countries. The market is expected to grow at a moderate rate in the coming years, as the demand for butyl acrylate and its derivatives increases from various end-use industries, such as construction, automotive, textile, and packaging.

COVID-19 Impact: Market Growth Restrained by Pandemic due to Supply Chain Disruptions

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

The COVID-19 pandemic has had a significant impact on the butyl acrylate market share, as it has disrupted the supply chains, reduced the consumer demand, and affected the end-use industries such as construction, automotive, textile, and packaging. The lockdowns and travel restrictions imposed by various governments have hampered the production and distribution of it, as well as the access to raw materials and markets. The reduced disposable income and consumer confidence have also lowered the demand for it and its derivatives, such as paints, coatings, adhesives, and sealants. Moreover, the cancellation or postponement of construction and automotive projects, as well as the decline in textile and packaging activities, have also affected the market growth and profitability. However, some positive impacts of the pandemic on the market include the increasing demand for sanitizers, disinfectants, and personal protective equipment, which use it as an ingredient or a solvent. 

LATEST TRENDS

"Increasing Demand for Bio-Based and Sustainable Butyl Acrylate to Drive Market Growth"

One of the recent trends in the market is the increasing demand for bio-based and sustainable butyl acrylate, as consumers and regulators become more conscious of the environmental and health impacts of petroleum-based butyl acrylate. It is typically derived from non-renewable and fossil-based resources, such as crude oil and natural gas, which are associated with greenhouse gas emissions, pollution, and waste generation. Therefore, many market players are exploring alternative and renewable sources of it, such as biomass, sugar, and corn, which are biodegradable, renewable, and have a lower carbon footprint than the conventional sources. Some of the examples of bio-based and sustainable butyl acrylate are the products developed by BASF, OPX Biotechnologies, and Myriant Corporation, which use fermentation or chemical catalysis processes to produce it from renewable feedstocks.

BUTYL ACRYLATE MARKET SEGMENTATION

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• By Type

Based on type the market can be categorized into above 99.5% and below 99.5%.

Above 99.5% is the type of butyl acrylate that has a purity of more than 99.5%, which means it contains less than 0.5% of impurities, such as water, color, acidity, and other monomers. Above 99.5% is the standard specification, as it offers high-quality and high-performance for various applications, such as paints, coatings, adhesives, sealants, plastics, and textiles. Below 99.5% is the lower-quality and lower-performance type, as it may cause problems, such as polymerization, degradation, discoloration, and odor. Below 99.5% is usually produced by using less efficient or outdated production and storage methods, or by using lower-quality raw materials, such as crude oil and natural gas

• By Application

Based on application the global market can be categorized into adhesives & sealants, plastics, paint & coatings, textiles and others (consumer goods, water treatment).

Adhesives & sealants bond or seal surfaces or materials. Plastics are synthetic or semi-synthetic materials made from polymers. Paint & coatings protect, decorate, or modify surfaces or objects. Textiles are fabrics or materials made from natural or synthetic fibers. Others are applications that are not in the above categories, such as consumer goods, water treatment, and personal care. It provides different functions and benefits for each application, such as flexibility, adhesion, gloss, color retention, weather resistance, film formation, elasticity, transparency, processability, softness, wrinkle resistance, dyeability, cleaning, disinfecting, moisturizing, and fragrance.

DRIVING FACTORS

"Increasing Popularity of Water-Based Coatings to Boost the Market"

Water-based coatings are coatings that use water as a solvent or a carrier for the resin or pigment, instead of organic solvents, such as it. Water-based coatings have several advantages over solvent-based coatings, such as lower volatile organic compound (VOC) emissions, lower toxicity, lower flammability, lower odor, and easier cleanup. Water-based coatings are also more compatible with various substrates, such as metal, wood, plastic, and concrete, and offer better performance, durability, and aesthetics. It is used as a monomer or a co-monomer in the production of water-based coatings, as it imparts flexibility, adhesion, gloss, and water resistance to the coatings. The increasing demand for water-based coatings from various end-use industries, such as construction, automotive, furniture, and packaging, is driving the growth of the market.

"Rowing Demand from the Emerging Economies to Expand the Market"

Another driving factor for the market is the growing demand from the emerging economies, such as China, India, Brazil, and Southeast Asia. These economies have a large and growing population, with a rising middle class and disposable income, which create a huge potential market for it and its derivatives. The development and expansion of the end-use industries, such as construction, automotive, textile, and packaging, in these regions, are also contributing to the growth of the market. The increasing urbanization, industrialization, and infrastructure development in these regions are also creating more opportunities and demand for it and its products.

RESTRAINING FACTOR

"Environmental and Health Hazards Associated, to Potentially Impede Market Growth"

One of the restraining factors for the market is the environmental and health hazards associated with it and its derivatives. It is a flammable, volatile, and toxic substance that can cause irritation, inflammation, and allergic reactions to the skin, eyes, and respiratory system. It can also cause damage to the liver, kidneys, and nervous system if ingested or inhaled. Moreover, it and its derivatives, such as paints, coatings, adhesives, and sealants, can emit VOCs, which are harmful to the environment and human health. VOCs can contribute to air pollution, smog formation, ozone depletion, and global warming.

BUTYL ACRYLATE MARKET REGIONAL INSIGHTS

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"Asia Pacific Region Dominating the Market due to Owing to the Increasing Demand and Production "

Asia Pacific is expected to be the highest butyl acrylate market growth. The Asia Pacific region has a large and diverse market for it and its products, such as paints, coatings, adhesives, sealants, plastics, and textiles, which are widely used in various end-use industries, such as construction, automotive, furniture, and packaging. The region also has a large and growing population, with a rising middle class and disposable income, which create a huge potential market for it and its products. The development and expansion of the end-use industries, such as construction, automotive, textile, and packaging, in the region, are also driving the growth of the market.

KEY INDUSTRY PLAYERS

"Key Industry Players Shaping the Market through Innovation and Market Expansion"

The Butyl acrylate market is significantly influenced by key industry players that play a pivotal role in driving market dynamics and shaping consumer preferences. These key players possess extensive retail networks and online platforms, providing consumers with easy access to a wide variety of wardrobe options. Their strong global presence and brand recognition have contributed to increased consumer trust and loyalty, driving product adoption. Moreover, these industry giants continually invest in research and development, introducing innovative designs, materials, and smart features in cloth wardrobes, catering to evolving consumer needs and preferences. The collective efforts of these major players significantly impact the competitive landscape and future trajectory of the market.

List of Market Players Profiled

• CNOOC (China)
• Shenyang Chemical (China)
• Wanhua Chemical (China)
• Handsome Chemical (China)
• Sasol (South Africa)
• TOAGOSEI (Japan)
• Arkema (France)
• LG Chem (South Korea)
• Hongxin Chemical (China)
• Mitsubishi Chemical (Japan)
• NIPPON SHOKUBAI (Japan)
• KAITAI (China)
• BASF (Germany)
• Jurong Group (Singapore)

INDUSTRIAL DEVELOPMENT

June 2021:  One of the recent industrial developments in the market is the production of it from bio-based propylene. Propylene is one of the key raw materials for the production of it, as it is used to produce acrylic acid, which is then esterified with butanol to produce it. However, propylene is typically derived from fossil fuels, such as crude oil and natural gas, which are non-renewable and have a high environmental impact. Therefore, a novel and sustainable method of producing propylene from bio-based sources, such as biomass, sugar, and glycerol, has been developed by researchers from the University of Groningen and the University of Amsterdam.

REPORT COVERAGE

The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.

The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated timeframe. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.