Butyl Methacrylate Market Size, Share, Growth, and Industry Growth by Type (N-Butyl Methacrylate and I-Butyl Methacrylate) By Application (Paintings and Coatings, Adhesives and Sealants, Printing and Ink, Acrylic Copolymer), Regional Forecast To 2032

Updated On: 08 July 2024

Butyl Methacrylate Market REPORT OVERVIEW

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The global butyl methacrylate market size was USD 124.6 million in 2023 and is projected to touch USD 268.85 million by 2032, exhibiting at a CAGR of 8.90% during the forecast period.

C4H9O2CC(CH3) =CH2 is the formula for butyl methacrylate, an organic chemical colorless liquid that's commonly used to make methacrylate polymers. It's usually polymerized in a free-radical environment. A colorless, transparent liquid with a faint acrylic or fruity odor. On one end, there's a polymerizable methacrylate functional group, and on the other, there's a reactive ester group. It has a low volatility and is somewhat miscible with water. It is soluble in most organic solvents and has a low volatility. It has a heavier vapor than air. It easily copolymerizes with a wide range of monomers. Durability, strength, and transparency are all attributes of the added ester group.

COVID-19 Impact: Halt on Production and Supply Chain Disruption to Impede Sales.

The butyl methacrylate market has been damaged by the coronavirus pandemic. Due to nationwide lockdowns and strict social distancing measures, there was a huge demand for protective equipment and sanitizers around the world, resulting in a huge surge in demand for butyl methacrylate transparent sheets, which were used as protective barriers around the world to prevent the spread of the virus. However, due to a sharp drop in demand in the automotive and transportation sectors, demand fell as well, negatively impacting the industry.

LATEST TRENDS

"Rising Demand from Various Applications to Bolster Market Progress"

Methacrylate is the building block for a wide range of acrylic applications found in a variety of industries throughout the world. Methacrylate monomers are specialty compounds that have been developed for specific uses such as coatings, paints, inks, and adhesives. Chemical intermediates are also used to increase compatibility, flexibility, effect modification, heat resistance, and crosslinking. They help to improve the performance of created materials by reducing and renewing styrene, which improves surface hardness and impact resistance. Methacrylate monomers are a common industrial monomer found in a variety of industries, including architecture, automotive, aerospace, marine, and construction. In hip and knee replacements, methyl methacrylate (MMA) is used as a PVC modifier, chemical intermediary, and cement. It is commonly used in the production of ethyl and butyl methacrylate compounds.

Butyl Methacrylate Market Segmentation

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• By Type Analysis

By type, the market is segmented into N-Butyl Methacrylate and I-Butyl Methacrylate.

• By Application Analysis

Based on application, the market is classified into Paintings and Coatings, Adhesives and Sealants, Printing and Ink, Automotive, and Acrylic Copolymer.

Because butyl methacrylate is widely used in automobile glazing, the automotive segment leads the market.

DRIVING FACTORS

"Increasing Demand in Automotive Sector to Facilitate Industry Progress"

One of the factors fueling the growth of the butyl methacrylate market is the wide applicability of methacrylate compounds. The rise in demand for butyl methacrylate for polymerization is expected to positively influence market growth in the coming years due to its deeply reactive double bonds, recovering ability, economical nature of methacrylate compounds, and broad range of functions of methacrylate-based in the automotive sector. Because of its superior optical qualities, such as in light-guiding plates and light diffusion plates for flat panel displays, the demand for methacrylate-based goods has increased, driving the butyl methacrylate market expansion in the forecast period.

"Increasing Adoption in Infrastructural Development to Magnify Market Growth"

The need for acrylic resins is increasing in items like as instrument clusters and taillights for vehicles and trucks, which is driving the segment's expansion. Polymerization of methacrylate monomers results in Polymethylmethacrylate (PMMA) pellets and beads, which are then molded into a variety of end-use products. PMMA can be molded into sink faucet knobs, contact lenses, and sunglasses and eyewear lenses. Because of its scratch resistance, methacrylate compounds are in high demand in the electronics and paints and coatings sectors.

This is due to various manufacturer requirements, such as reduced emissions of volatile organic compounds (VOCs) by methacrylates, which contribute to smog formation, and the achievement of a durable protective surface coating on vehicles. In the automotive sector, methacrylate monomers such as methyl methacrylate (MMA) and butyl methacrylate are commonly employed. Methacrylate monomers are mostly used in the automobile industry for vehicle glazing.

RESTRAINING FACTORS

"High Costs and Covid-19 Impact to Impede Market Progress"

One of the most likely factors impeding the expansion of the methacrylate monomers market is strict administration in some nations. Many governments have used a variety of coercive measures to stifle the growth of the methacrylate monomers market. Furthermore, the market for methacrylate monomers is projected to be hampered by volatility in the costs of raw materials used in manufacture.

Butyl Methacrylate Market REGIONAL INSIGHTS

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"Presence of a Developed Infrastructure to Bolster Growth in Asia Pacific"

Asia Pacific is likely to dominate the butyl methacrylate market due to increased demand from the automobile and construction industries as a result of the expanding population. Residential building is predicted to be boosted by the fast-growing population and the presence of expanding economies. To take advantage of the cheap manufacturing costs, many methacrylate monomer manufacturers are establishing or expanding manufacturing sites in Asia Pacific. The market in the region is growing due to high demand from the sign and display, architectural and construction, and automotive industries.

KEY INDUSTRY PLAYERS

"Major Players Acquiring Start-Ups and Expanding Consumer Base to Improve Market Position"

Several major firms are very competitive. Furthermore, in terms of market share, the market is now dominated by a few major rivals. By expanding into new nations, these market-leading enterprises are diversifying their customer base. To increase their market share and profit margins, many companies rely on strategic collaborative initiatives. Industry players are also purchasing start-ups focused on enterprise network equipment technologies to increase their product capabilities.

INDUSTRY DEVELOPMENT

MPD Chemicals LLC finalized the acquisition of Norquay Technology in January 2018. MPD expects to have greatly increased their product offerings and solution portfolio for organic and inorganic chemicals as a result of this purchase.

List of Market Players Profiled

• Mitsubishi Chemical (Lucite International) (Japan)
• Mitsubishi Gas Chemical (Japan)
• LG MMA (South Korea)
• Evonik Industries (Germany)
• Fushun Donglian Anxin Chemical (China)
• KYOEISHA Chemical (Japan)
• Dow Chemical (U.S.)
• Shanghai HeChuang Chemical (China)
• Huayi Hefeng Special Chemical (China)

REPORT COVERAGE

The research covers various topics, including demand, product development, revenue generation, and sterile vial sales across regions. Considering sales during the forecast period, an optimistic and cautious scenario has been used to fully estimate the butyl methacrylate sector. The survey also takes into account price point comparisons by region with the global average price.