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Albany, New York, Aug. 13, 2019 (GLOBE NEWSWIRE) -- Transparency Market Research has recently published a new research report about the overall dynamics of the global acrylate monomers market. According to this research report, the acrylate monomers market was initially valued at US$6,987.9 Mn back in 2016. The market is projected to grow in the coming years and reach a new valuation worth US$11,112.3 Mn by the fall of 2025. Such substantial growth of the market is projected at a CAGR of 5.4% over the course of the given forecast period of 2017 to 2025.
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The global acrylate monomers market has a highly price-sensitive marketplace. This has led numerous key players in the market to concentrate on cost-effective formulations of the acrylate monomers to develop inexpensive acrylic esters or acrylic acids. On the other hand, manufacturers are more inclined towards entering partnerships and agreements with the OEM manufacturers and merchandisers. The objective behind this is to create a strong brand value in the market. However, this has not discouraged the emergence of several upcoming companies that are striving to develop specialty chemicals solutions to enhance their product portfolio. Some of the prominent players plying their trade in the market include names such as Arkema, Evonik Industries, and Dow Chemical Company among others.
A number of leading companies in the market are now leveraging the arising opportunities in the market due to the inexpensive formulations for creating a variety of high-performing specialty acrylate monomers. This has proven to be a successful business strategy to consolidate the presence of these companies across the market in the years to come. The companies are also opting for acquisitions, mergers, and joint ventures in the untapped geographical regions to generate newer revenue options.
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From a product point of view, the global acrylate monomers market is segmented into different segments such as 2 ethyl hexyl acrylate monomer (2-Ethylhexyl acrylate or 2-EHA monomer), ethyl acrylate, methyl acrylate monomer, and butyl acrylate. Of these, the global market is prominently dominated by the segments of 2-Ethylhexyl acrylate and butyl acrylate. This dominance of these segment is due to their broad range of applications in several formulations in the paints and coatings vertical.
Presence of Strong Middle Class in Emerging Economies is Presenting Numerous Business Opportunities
From a geographical viewpoint, the global acrylate monomers market is primarily segmented into key regions like North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa. Of these, the global market was chiefly dominated by the Asia Pacific region in 2016 and is expected to do so over the course of the given forecast period. The growth of the Asia Pacific regions is fueled due to the substantial rise in the demand for acrylate monomers from several end-use industries. The region is also attracting several business opportunities due to the presence of emerging economies such as India and China who have experienced a great surge in the middle-class population with high per capita income.
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Increasing Popularity in Paints and Coatings Market is Driving Market Uptake
There are several factors that are contributing to the positive growth of the global acrylate monomers market. One of the major driving factors for the development of the global market is the broad range of applications of these acrylate monomers in the production of inks, paints, and coatings. In addition to this, the increasing use of these monomers in the production of water-based coatings is also helping to propel the growth of the global market.
Another important reason for the rising adoption of acrylate monomers is that they offer several benefits such as strong adhesiveness and UV curability. Such properties are making them highly popular across different industry verticals, particularly in the paints and coatings sector.
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The study presented here is based on a report by Transparency Market Research (TMR) titled “Acrylate Monomers Market (Product - Butyl Acrylate Monomer, Methyl Acrylate Monomer, 2-Ethyl Hexyl Acrylate Monomer, and Ethyl Acrylate Monomer; Application - Paints & Coatings, Adhesives & Sealants, Plastics, and Printing Inks) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2025.”
The global acrylate monomers market is segmented based on:
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