Polyacrylates Market

Polyacrylates Market Growth Outlook for 2023 to 2033

After the industrial revolution, paints & coatings were recognized as a potential market and became an imperative part of the manufacturing industry. Currently, the paint & coating industry is a major contributor to the economic growth of several countries, such as India, China, and ASEAN, among others. From manufacturing to housing, paints, and coatings are used in a wide variety of sectors to provide protection and decoration and to extend the life of products.

The size of the global paint and coatings market was predicted to be over 160 billion dollars in 2021. The market value of the industry is anticipated to hit 235 billion US dollars by 2029. In addition to the automotive, general industrial, coil, wood, aerospace, railing, and packaging coatings markets, the construction industry is the key driver of market growth.

A substantial increase in demand for Polyacrylates as a raw material is anticipated as the paints and coatings industry moves away from traditional solvent-borne coatings and towards the use of water-based and powder-based coatings. Polyacrylates are also widely used in the field of medicine, especially in dentistry for the purpose of manufacturing artificial teeth, jaws, and a variety of fillings.

What are various applications of Polyacrylates likely to favor demand?

Polyacrylates are valuable as superabsorbent materials in products like diapers, feminine hygiene items, and wound dressings because they can absorb a lot of water. In many different applications, including the construction, automotive, and electronics sectors, these can be utilized as adhesives.

Polyacrylates can be utilized as coatings to increase a surface's tensile strength and weather resistance. In the textile industry, they are used to increase the strength and water resistance of materials. As thickeners and stabilizers, these are utilized in personal care items like hair gels and styling aids.

Furthermore, Polyacrylates are also used for the manufacture of a variety of prostheses and contact lenses, as well as for manufacturing special castings for the preservation of a variety of items. Its wide applications make it more valuable and also help it to expand the arcade in the upcoming years.

Isobutyl acrylate (IBA) is a common monomer used in the production of polyacrylates. IBA is a clear, colorless liquid with a characteristic odor and is readily soluble in most organic solvents. The resulting polyacrylates can have different characteristics depending on the specific monomers used in the production process. However, these polyacrylates are not compatible with all solvents especially strong solvents like epoxy paint thinners.

Methyl acrylates, the most basic form of acrylates, are produced by esterifying acrylic acid with methanol. High strength, flexibility, and moderate hardness characterize polymethyl acrylates. They can be utilized to produce stretchable films that have a 750% ratio of elongation. Polybutyl acrylate and Polyethyl acrylate, however, can be stretched to 1800% and 2000% of their original lengths, respectively.

What are the Opportunities in this market?

Adoption of an organic growth strategy, supported by increasing demand from end-use industries, such as coating, adhesive, and textiles, among others, will help to cater to rising demand in the global market. Over the recent past, there has been an increase in the number of consolidation and expansion activities in the Polyacrylates market.

This can primarily be attributed to efforts by companies to meet the increasing demand for Polyacrylates, gain access to high-growth markets of Asia Pacific and strengthen their footholds in regions, such as Europe and North America. Also, innovative approaches towards the production process and recycling have helped in decreasing production costs and eliminating possible hazards during production and application. This will, in turn, help promote the growth of the market in the long term.

Sustainability to remain a key market competition differentiator in this industry

The raw ingredients needed to make polyacrylates can come from renewable and sustainable sources. Examples of bio-based monomers that can be utilized to lessen the reliance on fossil fuels include acrylic acid, which is obtained from renewable sources like plant material.

Companies can improve the energy efficiency of their production processes by implementing energy-saving technologies and practices. This can include optimizing equipment, reducing waste, and using renewable energy sources.

Conducting a life cycle assessment (LCA) of the product can help identify areas where sustainability improvements can be made. An LCA can evaluate the environmental impact of a product from raw material extraction to disposal, and provide insights into areas for improvement.

Key Players

The market is a highly organized market. A significant share of the market is accounted for by key players across the globe. Some of the key players identified across the value chain of the global market include BASF SE, Arkema Inc., Dow Dupont, TOYOBO CO., LTD., Lucite International, Wanhua Chemical Group Co.,Ltd., Sasol Limited, LG Chem Ltd. and TOAGOSEI CO., LTD., among others.

Segmentation

• On the basis of Product Type :

  • Methyl Acrylate
  • Ethyl Acrylate
  • Butyl Acrylate
  • Others

• On the basis of Function :

  • Thickening Agent
  • Adhesive
  • Binder
  • Other

• On the basis of Modification :

  • Silicon Modified
  • Organic fluorine Modified
  • Polyurethane Modified
  • Epoxy resin Modified
  • Other

• On the basis of End-use :

  • Paint & Coating
  • Adhesives & Sealant
  • Automotive
  • Leather
  • Plastic
  • Printing Ink
  • Others

• On the basis of Regions :

  • North America
    • U.S.
    • Canada
  • Latin America
    • Mexico
    • Brazil
  • Western Europe
    • Germany
    • Italy
    • France
    • U.K
    • Spain
  • Eastern Europe
    • Poland
    • Russia
  • Asia Pacific
    • China
    • India
    • ASEAN
    • Australia & New Zealand
  • Japan
  • Middle East and Africa
    • GCC
    • S. Africa
    • N. Africa