Butyl Acrylate Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Application (Paints and Coatings, Adhesives and Sealants, Chemical Synthesis, Plastic Additives, Textiles, and Others)
The market is projected to reach US$ 4,608.06 million by 2028 from US$ 3,356.74 million in 2021; it is expected to register a CAGR of 4.6% from 2021 to 2028.
Growing investment in the building & construction sector and increasing sales of the automotive industry are the key factors attributed to the growth of the butyl acrylate market over the forecast period. In addition, the rise in the need for water-based coatings is augmenting the market growth over the forecast period.
Based on application, the butyl acrylate market is segmented into paints and coatings, adhesives and sealants, chemical synthesis, plastic additives, textiles, and others. The paints and coatings segment is anticipated to grow, owing to the growing investment in automotive and building & construction industries. The growth of the adhesives and sealants segment is attributed to its broad scope of application in the automotive industry for heat exchanger sealing, core plug sealing, automotive hose bonding, and filter end cap bonding. It is also used in the electronic industry for various applications such as switches and relays, potting and sealing electrical components, sensors, and bonding electric motors.
The butyl acrylate market in Asia Pacific is expected to grow at the highest CAGR during the forecast period. Asia Pacific countries such as Australia, China, India, and Japan have many manufacturing industries, including automotive, building & construction, paper & pulp, and textile. China is the largest consumer of butyl acrylate, owing to the increasing usage of paints, coatings, sealants, and adhesives from the building and construction industry. The growth of the butyl acrylate market in APAC can be attributed to the rising investment in building and construction projects, including smart cities, sustainable infrastructure, and commercial complexes in India, China, and Japan.
The key players operating in the global Butyl Acrylate market include EXXON MOBIL CORPORATION; Arkema; Mitsubishi Chemical Corporation; OSWAL UDHYOG; NIPPON SHOKUBAI CO., LTD.; Indenta Chemicals Pvt. Ltd.; TCI Chemicals Pvt. Ltd.; Wanhua Chemical Group Co., Ltd.; LyondellBasell Industries Holdings B.V.; and Sasol.
The size of the overall global butyl acrylate market has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain more analytical insights into the topic. The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the butyl acrylate market.