Global Acrylates Market Overview
The Acrylates Market Size was estimated at 10.22 (USD Billion) in 2023. The Acrylates Industry is expected to grow from 10.56(USD Billion) in 2024 to 15 (USD Billion) by 2035. The Acrylates Market CAGR (growth rate) is expected to be around 3.24% during the forecast period (2025 - 2035).
Key Acrylates Market Trends Highlighted
The Acrylates Market is witnessing several important market trends driven by a range of factors. One of the key market drivers is the increasing demand for acrylates in diverse applications, including coatings, adhesives, and sealants. This surge in demand is attributed to the growing construction and automotive industries that are pushing for innovative and high-performance materials. Moreover, the rising focus on sustainability is encouraging manufacturers to develop eco-friendly acrylate products, which align with environmental initiatives and regulations aimed at reducing volatile organic compounds (VOCs) in products. There are also numerous opportunities to be explored in the region as the market evolves.
For instance, the development of bio-based acrylates presents a significant opportunity for manufacturers looking to tap into the rising consumer preference for sustainable products. This trend is supported by increasing government initiatives promoting green chemistry and renewable feedstocks, which could potentially reshape the acrylates landscape. Additionally, advancements in technology are enabling the customization of acrylate formulations, further enhancing their applications across various industries. Recent times have showcased a notable shift towards higher-performance formulations that cater to the specific needs of industries, such as electronics and automotive, which require greater durability and functionality from materials.
This trend towards tailored solutions is becoming increasingly vital for maintaining a competitive advantage in the market. Overall, the Acrylates Market is positioned for progressive growth, underpinned by technological innovation, sustainability efforts, and the expansion of application areas.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Acrylates Market Drivers
Increasing Demand for Acrylates in Coatings and Adhesives
The growing need for acrylates in coatings and adhesive applications is expected to propel the acrylates market industry's expansion. The European Coatings Association predicts that between 2020 and 2025, the worldwide paint and coatings industry will expand at a compound annual growth rate (CAGR) of 4.0%. The growing need for high-performance coatings that provide improved durability and visual appeal is what is driving this expansion. The demand for acrylic resins, which are used in a variety of applications such as automotive and architectural coatings, has grown, according to companies like BASF, which has made significant investments in acrylic-based products through its Innovation Campus in Gent, Belgium.
Additionally, manufacturers are now concentrating on acrylates due to environmental rules that favor high-performance but ecologically sustainable goods, which is driving additional expansion in this industry. The current trends of technical improvements and expanding application scope indicate that the acrylates market industry will continue to grow.
Growth in the Construction Industry
The Acrylates Market Industry benefits significantly from the boom in the construction sector, driven by urbanization and infrastructural developments worldwide. The United Nations reports that by 2050, nearly 68% of the world's population is projected to live in urban areas, leading to increased construction activities that use acrylates for sealants and adhesives. Major organizations like the US Geological Survey have estimated that construction spending reached approximately USD 1.36 trillion in 2021, with projections to keep increasing as governments worldwide invest in infrastructure projects.
This surge across markets not only creates a dire need for effective materials but also boosts the demand for acrylates, which are essential in enhancing the adhesion and resilience of construction materials.
Advancements in Polymer Technology
Technological innovations in polymer chemistry are pushing the boundaries of what is possible in the Acrylates Market Industry. As R efforts intensify in companies such as Dow Inc., there is a growing focus on developing high-performance acrylic polymers that offer superior performance in various industrial applications. Government initiatives like the US National science foundation have dedicated substantial funding towards polymer research, which enhances the overall capabilities of acrylate products.
These advancements led to the creation of new acrylate-based formulations that cater to diverse sectors ranging from automotive to consumer goods, thus broadening the market's applicability. Consequently, as researchers develop more effective acrylic solutions, the demand for these products in the market is expected to rise significantly.
Rise in Renewable Energy Applications
The Acrylates Market Industry is also witnessing an upsurge in renewable energy applications, particularly in the manufacturing of solar panels. The International Energy Agency forecasts that solar energy capacity may increase by over 800 GW by 2025 due to heightened energy demands and government incentives promoting green energy. The properties of acrylates, such as transparency, UV resistance, and adhesion efficiency, make them ideal for use in photovoltaic applications.
Companies like 3M are heavily investing in research to improve acrylic-based encapsulation materials that enhance solar panel efficiency. With a shift towards sustainable energy solutions, the demand for acrylates in renewable applications will likely escalate, further propelling the industry's growth.
Acrylates Market Segment Insights
Acrylates Market Application Insights
The Application segment of the Acrylates Market is critical, showcasing diverse uses that reflect the material's versatility across multiple industries. In 2024, the market is valued at approximately 10.56 USD Billion and is projected to grow significantly by 2035, where it is expected to reach 15.0 USD Billion. Each application plays a unique role, with Adhesives holding a substantial share of the market. Valued at 2.65 USD Billion in 2024 and expected to rise to 3.75 USD Billion by 2035, Adhesives are integral in construction and manufacturing, where strong and flexible bonding is essential. Coatings come next, valued at 3.4 USD Billion in 2024, which highlights their importance in protecting surfaces and enhancing durability, with a growth projection reaching 4.8 USD Billion in 2035. Sealants, valued at 1.8 USD Billion in 2024, are essential for preventing the passage of fluid or air, especially in construction and automotive applications, and are expected to grow to 2.6 USD Billion by 2035.
Textiles and Plastics applications are also notable, with Textiles valued at 1.0 USD Billion in 2024, indicating a growing demand in the fashion and industrial sectors for high-performance fabrics that require acrylate-based finishes and coatings. The growth direction shows Textiles reaching a valuation of 1.4 USD Billion in 2035. Plastics, valued at 1.71 USD Billion in 2024, are expected to grow to 2.45 USD Billion, driven by their crucial role in making lightweight and durable products across various sectors, including automotive and consumer goods. These figures reflect a robust market growth trajectory and a well-diversified portfolio of applications in the Acrylates Market, with each application exhibiting unique growth drivers, challenges, and opportunities.
Overall, the demand for Acrylates in these Applications is fueled by trends towards sustainable and efficient materials, reflecting a significant push towards high-performance solutions across industries while navigating challenges such as cost fluctuations and regulatory hurdles. Identifying these growth areas is crucial for stakeholders looking to capitalize on market opportunities and position themselves strategically within the evolving landscape of the Acrylates Market.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Acrylates Market Type Insights
The Acrylates Market, categorized by Type, is experienced continued growth as it approaches a valuation of 10.56 Billion USD in 2024 and is projected to reach 15.0 Billion USD by 2035. This market segmentation includes five main types: Ethyl Acrylate, Butyl Acrylate, Methyl Acrylate, Acrylic Acid, and Propyl Acrylate. Ethyl Acrylate holds significant importance due to its extensive application in the production of coatings and adhesives, while Butyl Acrylate is recognized for its dominance in manufacturing polymers and sealants, driving market demand.
Methyl Acrylate is pivotal in the production of various copolymers, showcasing its relevance in diverse industries such as textiles and automotive. Acrylic Acid is essential in manufacturing superabsorbent polymers, which play a crucial role in personal care products and agriculture. Moreover, Propyl Acrylate garners attention for its utility in creating specialty coatings and resins. Acrylates Market statistics showcase a compound annual growth rate of 3.24 from 2025 to 2035, driven by advancements in technology and increasing demand for eco-friendly products.
The expansion of various end-use industries, along with evolving regulatory frameworks in different regions, presents both challenges and opportunities for market participants.
Acrylates Market End Use Industry Insights
The Acrylates Market is valued at 10.56 USD Billion in 2024, demonstrating notable growth driven by various end-use industries. Construction is a significant sector where acrylates are utilized in adhesives, sealants, and coatings, driven by urbanization and infrastructure development ly. The automotive industry also plays a critical role, employing acrylates in surface coatings and adhesives, which enhance vehicle durability and aesthetics. Consumer goods benefit from acrylates in various applications, including packaging and home products, as manufacturers seek sustainable solutions.
Furthermore, in the electronics sector, acrylates are crucial for adhesives and coatings that require precision and functionality. The medical industry increasingly relies on acrylates for applications in devices and biocompatible materials, reflecting the heightened demand for healthcare innovations. The Acrylates Market data indicates that these industries are pivotal for market growth as they continue to integrate advanced acrylate formulations into their offerings, driven by trends towards sustainability and performance enhancement.
The collective demand from these industries underscores the importance of acrylates, highlighting their diverse applications and contributions within the Acrylates Market industry.
Acrylates Market Form Insights
The Acrylates Market is poised for notable growth, with a valuation of 10.56 billion USD in 2024, escalating to 15 billion USD by 2035. The Form segment, encompassing Liquid, Solid, and Emulsion types, holds significant importance in the overall market landscape. Liquid acrylates are often favored for their versatility in applications across adhesive and coating solutions, fostering their popularity. The Solid form plays a critical role in solidifying manufacturing processes, especially in paints and inks, reflecting the diverse needs of various industries.
Emulsion types are crucial for their emollient properties and are widely utilized in cosmetic formulations and construction materials. The Acrylates Market segmentation reflects a balanced demand across these forms, showcasing the industry's ability to meet varying consumer needs driven by trends in sustainability and innovative applications. The industry is further propelled by opportunities in emerging markets, although it faces challenges in regulatory compliance and raw material pricing. Overall, the Acrylates Market data points to a dynamic environment where different forms contribute to significant market growth and development.
Acrylates Market Regional Insights
The Acrylates Market exhibits significant regional dynamics, with North America leading the market as it holds a valuation of 3.25 USD Billion in 2024 and is anticipated to grow to 4.5 USD Billion by 2035, showcasing its majority holding in the industry. Europe follows closely, valued at 2.8 USD Billion in 2024, with a projection of 3.85 USD Billion by 2035, supported by robust industrial applications and increasing demand for eco-friendly products. The APAC region, valued at 3.1 USD Billion in 2024 and expected to reach 4.25 USD Billion by 2035, highlights rapid urbanization and growing manufacturing activities as key growth drivers.
South America and the Middle East Africa are smaller segments of the market, valued at 0.9 USD Billion and 0.51 USD Billion in 2024, respectively; however, their growth potential cannot be overlooked as they are gradually advancing in various industrial sectors. Overall, the Acrylates Market segmentation unraveled numerous opportunities driven by innovation in applications and sustainability efforts across these regions, aligning with market trends for growth.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Acrylates Market Key Players and Competitive Insights
The Acrylates Market is characterized by a diverse competitive landscape, marked by the presence of several prominent players who are leveraging various strategies to establish and strengthen their foothold in the industry. These companies are continuously adapting to evolving consumer demands, regulatory developments, and technological advancements to innovate and optimize their product offerings. As the demand for acrylates continues to rise across multiple sectors, including paints and coatings, adhesives, textiles, and plastics, key market participants are focusing on expanding their production capacities and enhancing operational efficiencies. The market is witnessing significant investments in research and development to explore new applications for acrylates, further intensifying competition among established and emerging players.
INEOS stands out in the Acrylates Market due to its robust manufacturing capabilities and extensive product portfolio. The company is known for its high-quality acrylate products that cater to various industries, providing solutions that are both efficient and sustainable. With strategically located production facilities around the globe, INEOS has established a strong market presence and is able to meet the demands of international customers effectively. The company benefits from its integrated business model, allowing for streamlined operations and reduced costs, which enhances its competitive edge. Additionally, INEOS invests significantly in innovation, ensuring that its product offerings align with market trends and technological advancements, further solidifying its position within the industry.
Nippon Shokubai has carved a significant niche in the Acrylates Market, focusing on advanced chemical solutions and specialized products. The company is recognized for its commitment to quality and innovation, offering a range of acrylate products that serve key sectors such as automotive, construction, and consumer goods. With a strong emphasis on research and development, Nippon Shokubai continuously enhances its product capabilities and expands its service offerings to meet demands. The company has established a substantial market presence through strategic partnerships and collaborations, which have allowed it to penetrate various regional markets effectively. Additionally, Nippon Shokubai's emphasis on sustainability and environmental stewardship resonates well with current industry trends, further strengthening its brand image. The company's active engagement in mergers and acquisitions also adds to its growth strategy, enabling it to diversify its product range and reinforce its competitive standing in the acrylates landscape.
Key Companies in the Acrylates Market Include
- INEOS
- Nippon Shokubai
- SABIC
- Mitsubishi Chemical
- Formosa Plastics
- Asahi Kasei
- Kraton Corporation
- AkzoNobel
- Wacker Chemie
- Dow
- BASF
- Evonik Industries
- LG Chem
- Huntsman
Acrylates Market Industry Developments
In recent months, the Acrylates Market has experienced significant developments, particularly among major players such as INEOS, Nippon Shokubai, and Dow. In October 2023, Dow unveiled new strategies to enhance the production efficiency of its acrylate products, which is expected to meet the rising demand in various applications. Furthermore, in August 2023, Mitsubishi Chemical announced an expansion plan for its acrylate portfolio, focusing on sustainable and eco-friendly production methods. There has been a notable shift in market dynamics, with companies like SABIC and Wacker Chemie investing in Research and Development to innovate better and more sustainable acrylate solutions. In terms of mergers and acquisitions, a significant development occurred in September 2023 when AkzoNobel acquired a smaller specialty chemical firm to strengthen its position in the acrylates market. Growth forecasting indicates that the demand for acrylates, particularly in construction and automotive applications, is poised to increase steadily. Major happenings in the last two years include significant investments in acrylate production capacity aimed at addressing the growing demand and enhancing competitive positioning in various regional markets.
Acrylates Market Segmentation Insights
Acrylates Market Application Outlook
- Adhesives
- Coatings
- Sealants
- Textiles
- Plastics
Acrylates Market Type Outlook
- Ethyl Acrylate
- Butyl Acrylate
- Methyl Acrylate
- Acrylic Acid
- Propyl Acrylate
Acrylates Market End Use Industry Outlook
- Construction
- Automotive
- Consumer Goods
- Electronics
- Medical
Acrylates Market Form Outlook
Acrylates Market Regional Outlook
- North America
- Europe
- South America
- Asia Pacific
- Middle East and Africa
|
Report Attribute/Metric
|
Details
|
|
Market Size 2023
|
10.22(USD Billion)
|
|
Market Size 2024
|
10.56(USD Billion)
|
|
Market Size 2035
|
15.0(USD Billion)
|
|
Compound Annual Growth Rate (CAGR)
|
3.24% (2025 - 2035)
|
|
Report Coverage
|
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
|
|
Base Year
|
2024
|
|
Market Forecast Period
|
2025 - 2035
|
|
Historical Data
|
2019 - 2024
|
|
Market Forecast Units
|
USD Billion
|
|
Key Companies Profiled
|
INEOS, Nippon Shokubai, SABIC, Mitsubishi Chemical, Formosa Plastics, Asahi Kasei, Kraton Corporation, AkzoNobel, Wacker Chemie, Dow, BASF, Evonik Industries, LG Chem, Huntsman
|
|
Segments Covered
|
Application, Type, End Use Industry, Form, Regional
|
|
Key Market Opportunities
|
Rising demand in adhesives sector, Growth in construction industry applications, Expanding usage in automotive coatings, Increasing need for sustainable products, Advancements in manufacturing technologies
|
|
Key Market Dynamics
|
growing demand in adhesives, expanding application in coatings, increasing usage in plastics, rising environmental regulations, technological advancements in production
|
|
Countries Covered
|
North America, Europe, APAC, South America, MEA
|
Acrylates Market Highlights:
Frequently Asked Questions (FAQ) :
The Acrylates Market is expected to be valued at approximately 10.56 USD Billion by 2024.
The Acrylates Market is projected to grow at a CAGR of 3.24% from 2025 to 2035.
The Coatings application segment is expected to dominate, valued at 3.4 USD Billion in 2024.
The Adhesives segment is projected to grow to approximately 3.75 USD Billion by 2035.
The North American region is expected to be valued at around 3.25 USD Billion in 2024.
The APAC region is projected to reach a market size of about 4.25 USD Billion by 2035.
Key players include INEOS, SABIC, and Mitsubishi Chemical, among others.
The Sealants application segment is expected to be valued at about 1.8 USD Billion in 2024.
The MEA region is expected to grow to a market size of approximately 1.0 USD Billion by 2035.
The overall growth drivers include increasing demand from various applications such as adhesives and coatings.
