Albany, NY -- (SBWire) -- 11/27/2018 --Butyl Acrylate Market – Snapshot
Butyl acrylate is major acrylic monomer from the acrylic esters group, which is derived from acrylic acid for providing performance properties to a wide range of polymers. Butyl esters are utilized in various industries including paints & coatings, adhesives & sealants, textiles, plastic additives, and paper treatment.
Butyl acrylate monomers impart several desirable properties to polymeric materials such as color stability, heat resistance, aging resistance, clarity, low temperature flexibility, enhanced weather ability as well as acid and base resistance. Butyl acrylate possess characteristics such as hardness, durability, tackiness, and temperature resistance to varying degrees.
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Demand for butyl acrylate is driven primarily by GDP, due to its high amount of usage in paints, surface coatings, adhesives & sealants in construction and automotive industries. Therefore, demand for butyl acrylate is expected to be high in developing countries, who are anticipated to witness a rise of GDP at a higher growth rate. This, in turn, is expected to boost automotive and construction sectors in these countries.
In terms of value, the global butyl acrylate market is anticipated to reach US$ 8.1 Bn by 2026, expanding at a CAGR of 5.0% from 2018 to 2026. The global butyl acrylate market has been segmented based on purity and application. Based on purity, the global butyl acrylate market has been segregated into high purity and common purity. The high purity segment is expected to expand at a significant growth rate during the forecast period. Based on application, the global butyl acrylate market has been classified into paints & coatings, adhesives & sealants, chemical synthesis, plastic additives, textiles, and others. The others segment includes pulp & paper applications and leather processing. Butyl acrylate is utilized extensively in the production of plastic compounds. Butyl acrylate is also used in the production of industrial textile materials and apparel. The paints & coatings segment accounted for a significant share of the butyl acrylate market in 2017. It is likely to remain a dominant segment during the forecast period. The adhesives & sealants segment is anticipated to expand at a rapid pace, followed by the paints & coatings segment, in terms of value and volume, between 2018 and 2026.
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The report comprises profiles of major companies operating in the global butyl acrylate market. Key players operating in the butyl acrylate market include ARKEMA S.A., BASF S.E, NIPPON SHOKUBAI CO., LTD, DOWDUPON INC., LG CHEM LTD., TAOGOSEI CO., LTD., Mitsubishi Chemical Corporation, and SunVic Chemical Holdings Corporation. Other prominent players in the butyl acrylate market include Formosa Plastics Corporation, Shenyang Chemical Co., Ltd, OSWAL UDHYOG, Haihang Industry Co., Ltd., Shanghai Huayi Acrylic Co., Ltd., Wanhua Chemical Group Co., Ltd., and China National Offshore Oil Corporation. The market players are primarily focused on acquisition & mergers and strategic partnerships for relocation and consolidation of acrylic ester supply chains. In 2017, SunVic Chemical Holdings Limited and Arkema Asie SAS ('Arkema'), a leading global France-based chemical company, formed a joint venture, i.e. Taixing Sunke Chemical Co., Ltd. The joint venture owns three production lines for acrylic acid & acrylic esters in Taixing City, China.
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Global Butyl Acrylate Market to Reach Around US $8.1 Billion by 2026: Transparency Market Research