Ethyl Acrylate Market

Ethyl Acrylate Market Outlook (2022- 2032)

The present market shares of ethyl acrylate account for USD 8.63 Billion. The market is expected to grow with a CAGR of 6.2% for the forecast duration. The Ethyl Acrylate market is expected to reach USD 16.73 Billion by the end of 2032.

Ethyl acrylate has been long famed for its use in manufacturing acrylic fibres. Moreover, the high solubility of ethyl acrylate in alcohols, ethers, and other common organic solvents is boosting its popularity by a considerable margin. The use of ethyl acrylate in emulsion-based polymers is one of the predominant reasons pushing the demand for ethyl acrylate.

The demand for ethyl acrylate is increasing across a wide range of end-use industries, including leather, paints, plastics, paper, packaging, and textiles, which is adding to its overall demand trajectory. The use of ethyl acrylate in the form of a coating in case of household items, ranging from magazines to envelop adhesives, is also triggering its adoption rate.

Ethyl acrylate is the ethyl ester of the parent acrylic acid. Ethyl acrylate finds wide applications in the homo-polymers and chemicals industry. Ethyl acrylate exhibits good water and sunlight resistance coupled with excellent weathering and low-temperature flexibility.

Being too volatile, ethyl acrylate reacts easily with many organic and inorganic compounds. Ethyl acrylate is colourless and is not soluble in water. However, it is readily soluble in organic solvents such as alcohol.

Report Attributes	Details
Ethyl Acrylate Market Market Size (2022 A)	USD 8.63 Billion
Base Year for Estimation	2022
Forecast duration for this research	2022-2032
Forecasted Market value (2032 F)	USD 16.73 Billion
Global Market Growth rate (2022-2032 E)	CAGR of 6.2%
Key Companies Profiled	The Dow Chemical Company Arkema S.A. Mitsubishi Chemical Corporation Tokyo Chemical Industry Co., Ltd. Wanhua Chemical Group Co., Ltd. du Pont de Nemours and Company Sasol Limited LG Chem Ltd. Toronto Research Chemicals

Drivers of Demand: Ethyl Acrylate Market

Considering its wide applications in the paints and coatings segment, the ethyl acrylate market is largely dependent on the growth of the construction and infrastructure sector. Ethyl acrylate is in stable demand from the pharmaceutical sector due to its use as a reagent in various pharmaceutical intermediates. The feasible properties and high demand from the end-user industries are the key factors in the growth of the global market of ethyl acrylate.

Acrylic acid is a vital raw material in the production of ethyl acrylate, and propylene is widely used for the commercial manufacture of acrylic acid. Any advancement in the global price of propylene adversely affects the cost of acrylic acid and its derivatives, particularly ethyl acrylate. Also, since ethyl acrylate is highly toxic, several environmental regulations limit its growth.

Health and safety organizations such as the New Jersey Department of Health and Senior Services, OSHA, NIOSH and ACGIH have termed ethyl acrylate as a “Carcinogen with extreme caution” and advised to reduce its human exposure to the lowest level possible. Economical and safety concerns tend to overshadow the numerous advantages of ethyl acrylate.

Deterring factors: Ethyl Acrylate Market

Excess exposure to ethyl acrylate may cause drowsiness, headache, and nausea. Along with being highly toxic, ethyl acrylate causes irritation to the skin, eyes, and respiratory tracks. Ethyl acrylate is a carcinogen and might prove to be fatal under prolonged exposure. Being too volatile, ethyl acrylate reacts easily with many organic and inorganic compounds. Ethyl acrylate is colourless and has low solubility in water. However, it is readily soluble in organic solvents such as alcohol.

The adoption of ethyl acrylate has borne the brunt of controversies regarding health issues associated with its exposure, including headache, convulsions, drowsiness, lethargy, and gastrointestinal, and respiratory irritation. The risk of cancer is associated with exposure of workers to ethyl acrylate among workers who are occupationally prone to the chemicals. But, with studies evolving with respect to the essentiality of ethyl acrylate and with some positive effects it induces in the target applications, the adoption rate of ethyl acrylate is increasing, yet at a steady rate.

Segment wise analysis

Ethyl acrylate is used widely in the plastics industry, leather industry, paints and coatings industry, packaging industry, paper industry, and textiles industry. The paint and coating industry dominated the usage of ethyl acrylate owing to its usability in the forms of gel, dip and shellac coatings. The paint and coating industry is expected to hold revenue of 40% share by value by 2024. Acrylic paints are found to be used in both exterior and interior coatings.

The manufacturers are into the production of acrylic resins that can be used in paints and latex products. Ethyl acrylate is primarily used in emulsion base polymers, acrylic rubber and elastomers. After the paint and coating segment, ethyl acrylate is widely popular as an adhesive and used in the manufacturing of acrylic fibres used in textiles.

The adhesive and sealants segment is expected to notice an upward demand trajectory owing to demand for furniture and textile applications. Ethyl acrylate is majorly used in surface coating for its resistance features. The material is also used as a detergent in cleaning and textile firms.

Regional Insights

Region-wise, Asia Pacific dominates the global ethyl acrylate market. Owing to the growth of the construction and infrastructure business in regions like the Asia Pacific. The rapid urbanisation in countries like India and China has opened the way to the construction sector application of ethyl acrylate. It is predicted that the adhesives and sealants will undergo the fastest growth, with the Asia Pacific region leading the global market.

In North America, the demand from these regions will experience stable growth. In terms of applications. Owing to the high volume manufacturing capacity of firms in this region is expected to drive sales of ethyl acrylate in the forecast period.

Competitive Landscape

Many of the key market players of ethyl acrylate are observed to adopt an expansion strategy to maintain a steady supply for the growing demands. The Ethyl Acrylate industry is likely to notice a rise in competition among dominant firms.

However, the manufacturing of the Ethyl Acrylate industry is a capital incentive process imposing challenges for start-ups in the sector. The key players in the market opt for product research, strategic collaborations, and extensive promotion of products. Companies are paying equal importance to sustainable production by focusing on making it a priority throughout the production cycle.

• For instance, in 2017, Arkema S.A. invested $90 million in its acrylic acid production units on Clear Lakes, Texas upgrading the total capacity to 270 kt/year.
• In March 2021, BASF doubled acrylic dispersions functionality in the Malaysian branch. This novel product line refers to state of art acronical edge dispersions. The new additional capacity was established for serving the ASEAN and New Zealand regions market.

Market Segmentation :

The ethyl acrylate market can be segmented on the basis of application and end-use industry.

• By Application :

  • Adhesives and Sealants
  • Surface Coatings
  • Detergents
  • Plastic Additives
  • Others

• By End-use :

  • Plastics
  • Leather
  • Paints and coatings
  • Packaging
  • Paper
  • Textiles

• By Region:

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • Asia Pacific
  • China
  • Japan
  • Middle East and Africa