Butyl Acrylate Market Size, Share and Industry Trends -2028

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)

Publication Month : Nov 2021

  • Report Code : TIPRE00021455
  • Category : Chemicals and Materials
  • Status : Published
  • No. of Pages : 135
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The Butyl Acrylate 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.

There is a significant increase in demand for butyl acrylate due to the growing requirement for adhesives, coatings, paints, and sealants from automotive and construction industries. The growing investment in the chemical industry and increasing demand for water-based coatings for applications such as coating for interiors of fly ash hoppers, coal cars, plastic pellet hoppers, refuse containers, trucks, and architectural and printing inks is driving the market. Butyl acrylate is used to produce copolymers and flexible acrylic polymers, which are used in adhesives, caulks, and sealants. The butyl acrylate used in polymer helps to improve tack, impact resistance, flexibility, and overall durability. It is used in various applications such as acrylic resins, packaging adhesives, structural adhesives, latex paints, caulks & sealants, concrete coatings, and elastomeric coatings.

The Butyl Acrylate market in Asia Pacific is expected to grow at the highest CAGR during the forecast period. Many Asia Pacific countries, including Australia, China, India, and Japan, have many manufacturing industries such as building & construction, automotive, and textile. China is the largest consumer of butyl acrylate, owing to the increasing usage of paints, coatings, sealants, and adhesives from the building & construction industry. Countries in Asia Pacific such as Japan and India are significantly investing in building and constructional activities such as building sustainable infrastructure, smart cities, commercial complexes, and residential buildings. The increasing investment in the industrial sector is also accelerating market growth. Thus, countries in Asia Pacific are expected to drive the butyl acrylate market over the forecast period.

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Butyl Acrylate Market: Strategic Insights

butyl-acrylate-market
Market Size Value inUS$ 3,356.74 million in 2021
Market Size Value byUS$ 4,608.06 million by 2028
Growth rateCAGR of 4.6% from 2021 to 2028.
Forecast Period2021-2028
Base Year2021
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Impact of COVID-19 Pandemic on Butyl Acrylate Market

The COVID-19 pandemic drastically altered the status of the chemical & materials sector and negatively impacted the growth of the butyl acrylate market. The implementation of measures to combat the spread of the virus aggravated the situation and impacted the growth of several industrial sectors. The sudden distortion in operational efficiencies and disruptions in the value chains attributable to the sudden closure of national and international boundaries impacted industries such as automotive, construction, and packaging. The significant decline in the growth of several industrial sectors significantly impacted the demand for butyl acrylate in the global market. Due to the COVID-19 pandemic, the market dynamics had negatively influenced the supply and demand trend for the butyl acrylate market. The chemical industry witnessed disruptions and production declines since February 2020. The chemical manufacturers are planning to make well-informed strategic changes and restructure the businesses to cater to the uneven demand scenario until the threat of the pandemic is over and industry dynamics return to pre-outbreak levels.

Butyl Acrylate Market

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Market Insights

Growth in Construction Industry

The increasing investment in the building & construction industry augments the usage of adhesives, paints, and sealants, which helps drive the butyl acrylate market. The growth of the butyl acrylate market is primarily attributed to the increase in urbanization rate, which gives rise to a large number of construction projects. For instance, in April 2021, DuPont announced an investment of around US$ 30 million to build a new manufacturing facility in Zhangjiagang, Jiangsu Province, in East China. In addition, in December 2020, the government of Brazil planned to invest US$ 27 billion in building infrastructure, which includes highway, port, railway, and airport segments. Furthermore, the Government of Chile had planned to increase the number of construction projects with an investment worth US$ 5.2 billion. Thus, booming investment in the building & construction industry is augmenting the usage of paints, coatings, and adhesives, which is anticipated to drive the market.

Application Insights

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 adhesives and sealants segment is also anticipated to grow, owing to the increasing usage in automotive hose bonding, core plug sealing, heat exchanger sealing, and filter end cap bonding, among other applications, which is expected to drive the butyl acrylate market over the forecast period.

Butyl Acrylate Market, by Application – 2020 and 2028

The key players operating in the 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 key companies adopt strategies such as mergers and acquisitions and research and development to expand their customer base and gain significant share in the global market, allowing them to maintain their brand name globally.

Report Spotlights

  • Progressive industry trends in the butyl acrylate market to help players develop effective long-term strategies
  • Business growth strategies adopted by developed and developing markets
  • Quantitative analysis of the butyl acrylate market from 2018 to 2028
  • Estimation of global demand for butyl acrylate
  • PEST analysis to illustrate the efficacy of buyers and suppliers operating in the industry
  • Recent developments to understand the competitive market scenario
  • Market trends and outlook, as well as factors driving and restraining the growth of the butyl acrylate market
  • Assistance in the decision-making process by highlighting market strategies that underpin commercial interest, leading to the market growth
  • The size of the butyl acrylate market size at various nodes
  • Detailed overview and segmentation of the market, as well as the butyl acrylate industry dynamics
  • Size of the butyl acrylate market in various regions with promising growth opportunities

Butyl Acrylate Market – by Application

Paints and Coatings, Adhesives and Sealants, Chemical Synthesis, Plastic Additives, Textiles, and Others

Company Profiles

  • 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.
  • Sasol
Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Application

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States

Frequently Asked Questions


Can you list some of the major players operating in the global butyl acrylate market?

The major players operating in the global butyl acrylate market are 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.

In 2020, which region held the largest share of the global butyl acrylate market?

In 2020, Asia Pacific accounted for the largest share of the global butyl acrylate market. Increasing investment in construction & automotive industry has propelled the demand of butyl acrylate in the region. In addition, growing investments by governments in infrastructural development projects such as smart cities, sustainable infrastructure, airports, and public transit systems is driving the demand for butyl acrylate in Asia Pacific region.

Which application segment is the fastest growing in the global butyl acrylate market?

In 2020, the paints and coatings segment accounted for the largest market share. The growth of the segment is primarily attributed to high quality and durable acrylic emulsions which have revolutionized the paint industry. The usage of butyl acrylate in solvent-born coatings, interior and exterior water-based paints, emulsion paints, and printing inks for applications that requires quick drying rates such as auto based lacquers and industrial coatings. Thus, wide scope application of paints and coatings across vertical of industries is driving the butyl acrylate market growth over the forecast period.

What are the trending factors which helps drive the global butyl acrylate market?

Development of bio based butyl acrylate, wherein leading research institutes are working to make it more sustainable is trending the market dynamics. In addition, growing production of automotive in post pandemic scenario is also trending the market outlook during the forecast period.

In 2020, which country held the largest market share in global butyl acrylate market?

In 2020, China held the largest market share in the global butyl acrylate market. China is the world’s largest vehicle market across the globe, as per the International Trade Administration (ITA). The Chinese government has taken several initiatives for automobile manufacturers for augmenting the production capacity of the country to 35 million by 2025. The growing prospects of construction industry in China is further fueling the market growth. For instance, in 2019, the government of China had invested US$ 1.9 billion in 13 public housing projects. Thus, increasing construction activities and automotive production is anticipated to propel the butyl acrylate market in China in the coming years.

What is the key driver for the growth of the global butyl acrylate market?

Increasing usage of butyl acrylate in paints, coatings, adhesives and sealants in building & construction industry along with growing production of automotive are the key factors driving the market growth over the forecast period. With the growing expansion of building & construction industry wherein paints, coatings and sealants have gained significant momentum is fueling the butyl acrylate market over the projected period. Growing investment in automotive industry owing to rise in awareness for emission free vehicles is augmenting the automotive production which is further driving the market growth.

The List of Companies - Butyl Acrylate Market

  1. EXXON MOBIL CORPORATION
  2. Arkema
  3. Mitsubishi Chemical Corporation
  4. OSWAL UDHYOG
  5. NIPPON SHOKUBAI CO LTD
  6. Indenta Chemicals Pvt. Ltd
  7. TCI Chemicals Pvt. Ltd
  8. Wanhua Chemical Group Co., Ltd
  9. LyondellBasell Industries Holdings B.V.
  10. Sasol

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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