Isobornyl Acrylate Market Size, Share, Growth, and Industry Analysis, By Type (Isobornyl Acrylate and Methacrylate), By Application (Reactive Diluent, Resin Synthesis and Others), Regional Insights, and Forecast To 2031

Updated On: 29 April 2024

Isobornyl Acrylate Market Report Overview

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global isobornyl acrylate market size was USD 69 million in 2022 and market is projected to touch 92.59 Million by 2031, exhibiting a CAGR of 3.3% during the forecast period.

The global isobornyl acrylate is also known as, IBXA which is an actonym derived from its chemical name. it refers to a monofunctional reactive diluent that polymerizes when exposed to free radical sources. The product is recommended for coatings that require flexibility, hardness, and thermal resistance to maintain high elongation in urethane acrylates. Additionally, it is utilized in screen inks and coatings that require enhanced adhersion to polyolefins. A prominent factor influencing this market is the rising emphasis on expanding chemical facilities.

The global isobornyl acrylate market progression can be credited to upsurge in the demand due to growing construction projects will therefore propel the demand for paints and coatings for corrosion prevention and in turn, amplify compound usage worldwide. A compound can enhance the flexibility, resiliency, and hardness of paints, coatings, and inks.

COVID 19 Impact: Pandemic led to increase demand due to shifts in consumer behavior

The effects of the COVID-19 pandemic are already being felt on a global level, the global isobornyl acrylate was significantly influenced. The outbreak of COVID-19 had a negative impact on several markets. Various countries went into lockdown. With sudden pandemic, all kinds of businesses observed disruptions. The pandemic had a significant impact on the chemicals & advanced materials as well. The pandemic also led to changes in consumer behaviour, with a greater emphasis on hygiene and health-related products. This shift could have resulted in increased demand for products like coatings, adhesives and sealants, which use this chemical as a key ingredient.

Latest Trends

"The increasing growth of adhesives and sealants industries to surge the demand"

It is an important component in the formulation of adhesive and sealants. The adhesive and sealants industry has been expanding due to growing demand from various sectors such as construction, automotive, packaging and electronics. It offers desirable properties, including good adhesion, flexibility, and chemical resistance, making it a preferred choice for formulating high-performance adhesives and sealants.

Isobornyl Acrylate Market SEGMENTATION

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• By Type

Based on type, the global isobornly acrylate market is divided into isobornyl acrylate and methacrylate.

• By Application

Based on application, the market is divided into reactive diluent, resin synthesis and others.

Driving Factors:

"The rising investments in the construction sector and infrastructure development will benefit the growth of this market"

The construction industry has been witnessing growth worldwide, driven by urbanization, infrastructure projects, and housing demand. It finds extensive use in construction-related applications such as paints, coatings, flooring, and adhesive has consequently led to an increase demand for this chemical in the global market.

"Increasing utilization of this chemical in packaging and consumer goods"

It is also utilized in packaging materials, such as films and coatings, to enhance their performance characteristics. The packaging industry has experienced significant growth due to increased e-commerce activities, changing consumer preferences and the demand for sustainable and innovative packaging solutions. As a result, the demand for this market in this sector has also seen an upswing.

RESTRAING FACTORS:

"Increasing awareness about the product toxicity may create hindrance to industry growth"

The incident of allergic contact dermatitis and eye irritation due to exposure to this chemical substance has risen, limiting market demand to some extent. Government and regulatory agencies are imposing stricter regulations and guidelines regarding the use of chemicals, including isobornyl acrylate. They may set limit on exposure levels, require labeling and safety data sheets and impose restrictions or bans on certain applications. Compliance with these regulations may require additional investment in research, testing and safety measures, [potentially impacting the industry’s growth and profitability.

Isobornyl Acrylate Market Regional Insight

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"North America to dominate the market due to the rising growth of adhesive manufacturing industries"

North America is estimated to be the fastest-growing region in the overall market over the forecast period, owing to increasing growth of adhesive manufacturing. Scott Bader co. Ltd. Expanded the production of its crestabond MMA structural adhesive, suitable for bonding composites, metals, thermoplastics, and other substrates, in Canada which increased the revenue to this market. Home renovation has also witnessed a major upsurge, asserting a positive influence on isobornyl acrylate copolymer market players across the region.

Europe is expected to witness significant growth during the forecast period owing to strong industrial and manufacturing base, with diverse sectors such as automotive, construction and packaging. The European market benefits from the growth of end-user industries that heavily rely on this product. Europe has well-developed distribution network that efficiently supplies chemicals and raw materials to manufacturers.

Key Industry Players

"Market Players to focus on R&D to enhance growth in the global market"

The report delivers information about the list of market players and their operations in the industry. The information is collected and reported with proper research, technological developments, acquisitions, mergers, expanding production lines, and partnerships. Other aspects examined for this market include companies producing and introducing new products, regions they conduct their operations in, automation, technology adoption, generating the most revenue, and making a difference with their products.

List of Market Players Profiled

• NIPPON SHOKUBAI (Japan)
• Sartomer (U.S.)
• Evonik (Germany)
• Green Pine (Uttarakhand, India)
• Osaka Organic Chem (Japan)
• Solvay (Belgium)
• DSM (Netherland)
• Tianchi Chemical (China)
• IGM Resin (U.S.)
• WUXI ACRYL TECHNOLOGY (China)

Report coverage

This report examines an understanding of the global isobornyl acrylate market’s size, share, growth rate, segmentation by type, application, key players, and previous and current market scenarios. The report also collects the market’s precise data and forecasts by market experts. Also, it describes the study of this industry’s financial performance, investments, growth, innovation marks, and new product launches by the top companies and offers deep insights into the current market structure, competitive analysis based on key players, key driving forces, and restraints that affect the demand for growth, opportunities, and risks.

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

This report also discloses the research based on methodologies that define price trend analysis of target companies, collection of data, statistics, target competitors, import-export, information, and previous years’ records based on market sales. Moreover, all the significant factors which influence the market such as small or medium business industry, macroeconomic indicators, value chain analysis, and demand-side dynamics, with all the major business players have been explained in detail. This analysis is subject to modification if the key players and feasible analysis of market dynamics change.