Ethyl Acrylate Market Size, Share, Growth, And Industry Analysis, By Type (Adhesives and Sealants, Surface Coatings, Detergents, Plastic Additives, and Others), By Application (Plastics Industry, Leather Industry, Paints and Coatings Industry, Packaging Industry, Paper Industry, and Textiles Industry) Regional Forecast to 2031

Updated On: 29 April 2024

Ethyl Acrylate Market Report Overview 

The global Ethyl acrylate market size was valued at USD 445.18 million in 2021. As per our research, the market is expected to reach USD 757.41 million by 2031, exhibiting a CAGR expansion of 5.46% during the forecast period. 

The global COVID-19 pandemic has been unprecedented and staggering, with the Ethyl acrylate market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

Ethyl acrylate is a chemical compound with the molecular formula C5H8O2. It is an ester, which means it is derived from acrylic acid (CH2=CHCOOH) and ethyl alcohol (C2H5OH). Ethyl acrylate is primarily used in the production of various polymers and resins. It is commonly used as a monomer in the synthesis of acrylic and meth acrylic polymers, which find applications in coatings, adhesives, textiles, and more. It can also be used in the manufacture of specialty chemicals.

Ethyl acrylate is a chemical compound primarily used in the production of various polymers and resins, making it an essential raw material for industries such as adhesives, coatings, textiles, and more. The market for ethyl acrylate is influenced by several factors, including demand from downstream industries, supply dynamics, regulatory changes, and global economic conditions.

COVID-19 Impact: Market Faced a Fall in Demand Due to Production Adjustments During the Pandemic

There was no single sector unaffected by COVID-19.  Some ethyl acrylate manufacturers adjusted their production in response to changing demand and market conditions. This could include temporary production halts or shifts in production to meet the demand for specific applications, such as hand sanitizers or medical supplies.

Latest Trends 

"Emphasis on Sustainability and Green Initiatives to Improve the Efficiency in the Market  "

The market is as dynamic as any other market. There has been a growing emphasis on sustainability and environmentally friendly products in the chemical industry. This trend is likely to continue, with increasing demand for green and bio-based alternatives to traditional chemicals, including ethyl acrylate.

Ethyl Acrylate Market Segmentation

• By Type Analysis

According to type, the market can be segmented into adhesives and sealants, surface coatings, detergents, plastic additives, and others.

 In terms of services, adhesives and sealants is the largest segment, as it holds the maximum share of the market.

• By Application Analysis

Based on application, the market can be divided into plastics industry, leather industry, paints and coatings industry, packaging industry, paper industry, and textiles industry.

Driving Factors

"Growing End-User Industries to Increase Demand in the Market"

Demand for ethyl acrylate is closely tied to downstream industries, including coatings, adhesives, textiles, and construction. Growth or contraction in these sectors has a direct impact on the demand for ethyl acrylate. End-user industries play a crucial role in driving the market. The demand for ethyl acrylate is closely linked to the needs of these industries, as it serves as a key raw material in the production of various products and materials. The coatings and paints industry is one of the largest consumers of ethyl acrylate. Ethyl acrylate is used in the formulation of acrylic paints and coatings. The demand for ethyl acrylate in this industry is driven by factors such as construction activity, infrastructure development, and consumer preferences for aesthetically pleasing and durable coatings. Growth in the construction and housing sectors, as well as infrastructure projects, increases the need for coatings, thereby driving the demand for ethyl acrylate.

"Rising Automotive Industries to Influence the Demand in the Market"

Ethyl acrylate is used in automotive coatings and adhesives, and the performance of the automotive industry plays a role in the demand for ethyl acrylate. The automotive industry plays a significant role in driving the demand for ethyl acrylate. Ethyl acrylate is used in various applications within the automotive sector, and its consumption is closely tied to the performance and trends in the automotive industry. The automotive industry's requirements for high-performance coatings, adhesives, and materials are critical drivers of the market. Manufacturers of ethyl acrylate and related products closely monitor automotive industry trends and innovations to meet the evolving needs of this dynamic sector. In this way this factor resulted in Ethyl acrylate market growth.

Restraining Factor

"Regulations Constraints Leads to a Declining Trend in the Market"

Stringent environmental regulations and safety standards in the production and use of chemicals can pose challenges for the market. Compliance with these regulations can lead to increased costs and process changes. As a consequence, it can result in the decline of demand in the market.

Ethyl Acrylate Market Regional Insights

"North America to Dominate the Market owing to Large Agricultural Sector"

North America has the largest Ethyl acrylate market share as it has a substantial agricultural sector that produces a significant amount of feedstock for ethanol production. Corn is a major source of ethanol in North America, and the region is one of the world's leading corn producers. In the U.S. federal and state governments have implemented policies and regulations that support the production and use of ethanol. The Renewable Fuel Standard (RFS) mandates the blending of ethanol with gasoline, creating a stable demand for ethanol in the transportation sector.

North America has invested in research and development to advance the technology and efficiency of ethanol production. This includes the use of advanced fermentation and distillation processes, which have made ethanol production more cost-effective. The U.S. and Canada have developed an extensive infrastructure for ethanol production and distribution. Ethanol refineries and blending facilities are widespread, making it easier to produce and deliver ethanol to end-users. Ethanol is considered a cleaner and more environmentally friendly alternative to fossil fuels, and it is often promoted as a renewable energy source. This aligns with environmental and sustainability goals in North America.

Key Industry Players

"Key Players Focus on Research and Development and Quality Assurance For Global Expansion"

The key players in the ethyl acrylate market, typically chemical manufacturers and suppliers, engage in various activities to operate and succeed in the market. Ethyl acrylate manufacturers invest in research and development to improve production processes, develop new formulations, and create innovative applications for ethyl acrylate. They aim to enhance product performance, reduce production costs, and adapt to changing market demands. Ensuring product quality and consistency is a critical aspect of ethyl acrylate manufacturing. Key players implement quality control measures and testing procedures to meet industry and regulatory standards. Some key players seek to expand their presence in regional and international markets, identifying opportunities for growth and adapting to the evolving needs of customers worldwide.

List of Market Players Profile

• Tokyo Chemical Industry Co., Ltd. (Japan)
• Arkema S.A. (France)
• Sasol Limited (South Africa)
• Mitsubishi Chemical Corporation (Japan)
• BASF SE (Germany)

Report Coverage 

The report brings together extensive research on the qualitative and quantitative factors affecting the market. It gives an overall macro and micro view of the online reputation service industry. This research profiles a report with extensive studies on the online reputation management services market that describe the firms affecting the forecasting period. Detailed studies also offer a comprehensive analysis by inspecting factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, and others.

Furthermore, the post-COVID-19 pandemic’s effect on international market restrictions and a deep understanding of how the industry will recover and strategies are also stated in the report. Finally, the competitive landscape has also been examined in detail to provide clarification of the competitive landscape.