Global Acrylates Market Overview
Acrylates Market Size was valued at USD 12.6 Billion in 2024. The Acrylates industry is projected to grow from USD 13.46 Billion in 2025 to USD 24.34 Billion by 2034, exhibiting a compound annual growth rate (CAGR) of 6.80% during the forecast period (2025 - 2034). The increasing adoption of acrylates within the spray coating sector, coupled with a robust demand for infrastructure enhancements and rising requirements from the packaging industry are expected to be a significant market driver for the Acrylates Market.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Acrylates Market Trends
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Growing demand for the personal care industry and Increasing demand from the packaging industry are driving the market growth
Market CAGR for Acrylates is being driven by the Growing demand for the personal care industry and Increasing demand from the packaging industry. The significant growth in the personal care industry is a pivotal factor propelling the expansion of the Acrylate Market. Acrylates copolymer, a key component extensively employed in the cosmetics sector, plays a vital role in this trend. According to data provided by Cosmetics Europe, the association representing the personal care industry in Europe, revenues within the cosmetics and personal care sector have been consistently increasing in numerous countries worldwide. Notable revenue escalations were recorded in the cosmetics and personal care industry across several countries in 2019 compared to the previous year: In the United States, revenue surged by 15.32%, rising from US$71.79 billion in 2018 to US$82.79 billion in 2019. India witnessed a 10.04% increase, with revenues climbing from US$12.25 billion in 2018 to US$13.48 billion in 2019. South Korea experienced a 3.11% increase, with revenues growing from US$11.22 billion in 2018 to US$11.57 billion in 2019. Japan registered a remarkable 8379% increase, with revenues surging from US$33.66 billion in 2018 to US$36.62 billion in 2019. This substantial growth in the cosmetics and personal care sector on a scale is generating heightened demand for cosmetic and personal care products. Consequently, this surge in demand is further bolstering the Acrylate Market, as acrylates are prominently utilized as acrylate copolymers within the personal care industry.
The surge in acrylate demand is intrinsically linked to the growing utilization of adhesives and sealants within the packaging sector. Acrylate copolymers have gained substantial traction in the packaging industry due to their impressive attributes, including chemical purity, stability, hydrophobicity, low-temperature performance, exceptional durability against weathering, and high resistance to water, heat, and sunlight, among other characteristics. As per data from the World Packaging Organization (WPO), a authority and governing body in the packaging industry, the annual revenue of the packaging sector exceeded the US$500 billion mark in 2019. This milestone served as a pivotal driver, spurring the demand for adhesives and sealants within the packaging industry, consequently catalyzing the growth of the Acrylate Market.
As a result, it is anticipated that throughout the projection period, demand for the Acrylates Market will increase due to the Growing demand for the personal care industry and Increasing demand from the packaging industry. Thus, driving the Acrylates Market revenue.
Acrylates Market Segment Insights
Acrylates Market Chemistry Insights
The Acrylates Market segmentation, based on Chemistry includes Butyl Acrylate, Ethyl Acrylate, 2-ethyl Hexyl Acrylate, Methyl Acrylate, and Other Chemistries. The Butyl Acrylate segment dominated the market, accounting for 58% of market revenue (6.4 Billion). Butyl acrylate is a widely favored solvent in the production of lacquers and paints. For instance, data from the British Coatings Federation reveals that the total sales value of paints and coatings reached US$3.58 billion (EURO 3.2 billion) in 2019, with a volume of 703 million liters. Similarly, the American Coatings Association reports an increase in the value of special purpose coatings, rising from US$5.2 billion in 2018 to US$5.4 billion, along with a quantity increase from 157 million gallons to 162 million gallons. These factors significantly drive the growth of the butyl acrylate segment in the Acrylate Market.
Figure 1: Acrylates Market, by Chemistry, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Acrylates Market Application Insights
The Acrylates Market segmentation, based on Application includes Paints, Coatings, & Printing Inks, Plastics, Adhesives & Sealants, Fabrics, and other applications. The Paints segment dominated the market, accounting for 58% of market revenue (6.4 Billion). The construction industry is on a constant rise, particularly in emerging economies. This has led to a surge in demand for paints and coatings to protect and beautify buildings and infrastructure. Acrylate-based paints are preferred for their durability, resistance to weathering, and excellent adhesion properties.
Acrylates Market End-use Industry Insights
The Acrylates Market segmentation, based on End-use Industry includes Building & Construction, Packaging, Consumer Goods, Automotive, Textiles, Bio-medical, Cosmetics & Personal Care, and Other End-Use Industries. The Building & Construction segment dominated the market, accounting for 60% of market revenue (6.6 Billion). The population is increasingly concentrated in urban areas, leading to a surge in urban development and infrastructure projects. This urbanization trend is driving the demand for construction materials, including paints, coatings, adhesives, sealants, and other products that often contain acrylates. Acrylate-based paints and coatings are widely used in the construction sector for both interior and exterior applications. They are preferred for their durability, weather resistance, and ability to provide aesthetically pleasing and long-lasting finishes on buildings. As more buildings and structures are constructed or renovated, the demand for architectural coatings continues to rise.
Acrylates Market Regional Insights
By region, the study provides market insights into North America, Europe, Asia-Pacific, and Rest of the World. The anticipated expansion of the Acrylates market in North America can be attributed to several key factors. Firstly, the rising environmental consciousness and heightened concerns surrounding plastic pollution are stimulating a growing demand for effective Acrylates solutions within the region. As per data from SWOP (Shop Without Plastic), the United States stands as the leading contributor to plastic waste generation in North America. In 2016, the U.S. generated a staggering 46 million U.S. tons (42 million metric tons) of plastic waste. Furthermore, when considering coastal nations, the United States occupies the third position in terms of its role in generating litter, illicitly discarded waste and other forms of improperly managed waste along its shorelines. Furthermore, North America has been proactively implementing recycling initiatives and embracing the principles of a circular economy, thus fostering the adoption of sustainable waste management practices. In addition, technological advancements in the processes for recycling microplastics are playing a pivotal role in driving market growth.
Further, the major countries studied in the market report are the US, Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: ACRYLATES MARKET SHARE BY REGION 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe's Acrylates Market accounts for the second-largest market share as The European automotive sector is sizable, and acrylate-based coatings are pivotal in the manufacturing of automobiles. As per the European Commission, the automotive industry's turnover accounts for more than 7% of the European Union's GDP, making it a significant economic force in the region. In 2022, this sector contributed approximately 10% of Europe's total exports. It is a well-connected ecosystem consisting of over 17,300 companies, encompassing original equipment manufacturers (OEMs) and suppliers across various tiers. These coatings provide exceptional performance attributes, such as corrosion resistance and aesthetic appeal, which are fundamental in the production of top-tier, high-quality vehicles. Further, the German Acrylates Market held the largest market share, and the UK Acrylates Market was the fastest-growing market in the European region
The Asia-Pacific Acrylates Market is expected to grow at the fastest CAGR from 2023 to 2032. According to data from the Ministry of Land, Infrastructure, Transport, and Tourism (MLIT) in Japan, the total investment in the construction sector in 2022 was estimated at approximately JPY 66,990 billion (equivalent to USD 508.16 billion). This marked a modest increase of about 0.6% compared to the preceding year. In India, there is a clear strategic intent to position itself as the world's third-largest construction market by 2025. To realize this goal, the country has initiated numerous plans and made substantial investments. Under the Technology Sub-Mission of PMAY-U, a significant initiative identified approximately 54 groundbreaking construction technologies to revolutionize the Indian construction technology sector. These advancements are expected to drive substantial market growth in India, resulting in increased construction activities across various sectors, including electronics, plastics, and paints. This, in turn, is anticipated to boost the demand for acrylate monomers over the forecast period. Moreover, China’s Acrylates Market held the largest market share, and the Indian Acrylates Market was the fastest-growing market in the Asia-Pacific region.
Acrylates Market Key Market Players & Competitive Insights
Leading market players are investing heavily in research and development to expand their product lines, which will help the Acrylates market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the Acrylates industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the Acrylates industry to benefit clients and increase the market sector. In recent years, the Acrylates industry has offered some of the most significant advantages to the coatings and paints sector, with their exceptional versatility and performance attributes. Major players in the Acrylates Market, including Air Liquide, Arkema Group, BASF SE, Evonik Industries AG, LG Chem Ltd., Mitsubishi Chemical Corporation, NIPPON SHOKUBAI CO., LTD., Sasol Limited, SIBUR, and Wanhua Chemical Group Co., Ltd. are attempting to increase market demand by investing in research and development operations.
BASF SE, a chemical conglomerate, specializes in the manufacturing, marketing, and sales of a diverse range of products, including chemicals, plastics, crop protection solutions, and performance products. Its extensive product line encompasses solvents, adhesives, surfactants, fuel additives, electronic chemicals, pigments, paints, food additives, fungicides, and herbicides. The company caters to various industries such as construction, furniture, agriculture, electronics, automotive, paints, coatings, and more. BASF actively engages in research and development in collaboration with customers, scientists, and partners. The company operates a widespread network of manufacturing facilities across the globe and maintains a significant presence in Europe, Asia Pacific, South America, Africa, the Middle East, and North America. Headquartered in Ludwigshafen, Germany, BASF reaffirmed its dedication to sustainability and innovation in September 2023 by expanding its Monomers Portfolio and introducing bio-based 2-Octyl Acrylate, demonstrating its commitment to a sustainable future with a substantial 73% 14C-traceable bio-based content by ISO 16620.
Evonik Industries AG, a subsidiary of RAG-Stiftung, is a specialized chemical firm with a comprehensive product portfolio encompassing surfactants, polymers, resins, additives, and more. Its products have diverse applications across multiple markets, including agriculture, renewable energy, paints and coatings, paper and printing, metal and oil products, electrical and electronics, food and animal feed, consumer and personal care items, pharmaceuticals, plastics, rubber, and the automotive and construction sectors. In addition to its product offerings, Evonik provides essential services such as process technology, technical support, logistics, utilities, waste management, and engineering. The company maintains significant production facilities in Germany, Belgium, the United States, China, and Singapore. With operations spanning North America, Asia-Pacific, Africa, South America, Europe, and other regions, Evonik is headquartered in Essen, Nordrhein-Westfalen, Germany. In May 2023, Evonik further solidified its strategic distribution partnership with Vimal Intertrade and Nordmann for its VISIOMER Specialty Methacrylates in the Indian market.
Key companies in the Acrylates Market include
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Air Liquide
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Arkema Group
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BASF SE
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Evonik Industries AG
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LG Chem Ltd.
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Mitsubishi Chemical Corporation
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NIPPON SHOKUBAI CO., LTD.
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Sasol Limited
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SIBUR
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Wanhua Chemical Group Co., Ltd.
Acrylates Industry Developments
March 2021: On March 9, 2021, BASF substantially increased its production capacity for acrylic dispersions in Pasir Gudang, Malaysia. This expansion introduced a range of advanced products, including Acronal EDGE, Acronal PLUS, Joncryl, and the next-generation Acronal ECO dispersions. The primary objective of this capacity enhancement was to cater to the markets of ASEAN (Association of Southeast Asian Nations), Australia, and New Zealand.
May 2022: In May 2022, Evonik Industries AG further solidified its strategic distribution partnership with Vimal Intertrade and Nordmann in India. This collaboration is centered on the production of VISIOMER specialty methacrylate, enabling more agile responses and increased adaptability to address evolving market trends.
Acrylates Market Segmentation
Acrylates Market Chemistry Outlook
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Butyl Acrylate
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Ethyl Acrylate
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2-Ethyl Hexyl Acrylate
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Methyl Acrylate
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Other Chemistries
Acrylates Market Application Outlook
Acrylates Market End-use Industry Outlook
Acrylates Market Regional Outlook
- North America
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Australia
- Rest of Asia-Pacific
- Rest of the World
- Middle East
- Africa
- Latin America
| Report Attribute/Metric |
Details |
| Market Size 2024 |
USD 12.6 Billion |
| Market Size 2025 |
USD 13.46 Billion |
| Market Size 2034 |
USD 24.34 Billion |
| Compound Annual Growth Rate (CAGR) |
6.80% (2025-2034) |
| Base Year |
2024 |
| Market Forecast Period |
2025-2034 |
| Historical Data |
2020-2024 |
| Market Forecast Units |
Value (USD Billion) |
| Report Coverage |
Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered |
Chemistry, Application, End-use Industry, and Region |
| Geographies Covered |
North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered |
The US, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled |
Air Liquide, Arkema Group, BASF SE, Evonik Industries AG, LG Chem Ltd., Mitsubishi Chemical Corporation, NIPPON SHOKUBAI CO., LTD., Sasol Limited, SIBUR, and Wanhua Chemical Group Co., Ltd. |
| Key Market Opportunities |
The emerging commercialization of bio-based acrylic acid |
| Key Market Dynamics |
The high demand for modification of infrastructure activities, and increasing demand from the packaging industry |
Acrylates Market Highlights:
Frequently Asked Questions (FAQ) :
The Acrylates Market size was valued at USD 11.1 Billion in 2022.
The Acrylates Market is projected to grow at a CAGR of 6.80% during the forecast period, 2025-2034.
North America had the largest share of the market
The key players in the market are Air Liquide, Arkema Group, BASF SE, Evonik Industries AG, LG Chem Ltd., Mitsubishi Chemical Corporation, NIPPON SHOKUBAI CO., LTD., Sasol Limited, SIBUR, and Wanhua Chemical Group Co., Ltd.
Butyl Acrylate dominated the market in 2022.
The paint industry had the largest share of the market.
