Global Acrylic Monomer Market Overview
Acrylic Monomer Market Size was estimated at 14.48 (USD Billion) in 2022. The Acrylic Monomer Industry is expected to grow from 14.93(USD Billion) in 2023 to 19.7 (USD Billion) by 2032. The Acrylic Monomer Market CAGR (growth rate) is expected to be around 3.13% during the forecast period (2024 - 2032).
Key Acrylic Monomer Market Trends Highlighted
The Acrylic Monomer Market is poised for significant growth in the coming years, driven by rising demand from various end-use industries, including automotive, construction, and packaging. The increasing use of acrylic monomers in the production of superabsorbent polymers (SAPs) and plastics, coupled with their superior properties such as strength, durability, and clarity, is fueling market expansion. Moreover, the growing adoption of acrylic monomers in paints and coatings, as well as adhesives, is creating new opportunities for market participants.Recent trends in the Acrylic Monomer Market include the shift towards bio-based monomers, driven by rising environmental concerns and consumer demand for sustainable products. The market is also witnessing increasing demand for high-performance acrylic monomers that can meet the stringent requirements of advanced applications in electronics and medical devices. Furthermore, the growing popularity of UV-curable acrylic monomers is expected to drive market growth, due to their rapid curing times and low energy consumption.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Acrylic Monomer Market Drivers
Increasing Demand for Acrylic Products
The acrylic monomer market is driven by the market growth of acrylic products. To be more precise, acrylic monomers are used to produce paints, coatings, adhesives, and plastics among others. With the increasing popularity of these products, the demand for acrylic monomers is also growing. Another factor enhancing the market growth is the rising demand for acrylic paints. These are water-based paints, which are easier to use and clean, provide a greater variety of colors and finishes.Acrylic paints are typically intended for painting pictures, yet the product can be applied in drawing and varnishing, as well as different crafts. The production of indoor and outdoor acrylic paints is also becoming more and more popular. Furthermore, the growing specialty and technical acrylic coatings market is enhancing the position of the noted market. The utilization of coatings is aimed at protecting surfaces, and products made of acrylic coatings provide a high level of durability and gloss.Such acrylic coatings are commonly used in such areas as automotive, marine, and industrial. Finally, the increasing adhesives market is also supposed to drive the Acrylic Monomer Market. Adhesives are typically used for a variety of purposes, including packaging, construction, and automotive, that is why the growing demand for their production indicates the further growth of the noted industry. The Acrylic Monomer Market is growing, and it is expected to continue its development in the future.
Rising Disposable Income
The increasing disposable income of consumers in the developing countries is another key factor, fostering the growth of the Acrylic Monomer Market. As the consumers have more money for spending, the interest to the goods, produced from the acrylic polymers is rising up. In particular, the rising sales of the automobiles and growth of construction activity in the developing countries will contribute to the growth of the acrylic monomer market.Despite the growth of several industries economy, the increasing disposable income of consumers promotes the demand for luxury goods. The acrylic polymers are used to manufacture luxury goods, such as watches, jewelry, and handbags . The growing demand for the luxury products is expected to fuel the expansion of the acrylic monomer market.
Technological Advancements
The development of new technologies has also had a major impact on the growth of the acrylic monomer market. The development of new technologies has led to the occurrence of new acrylic polymers, the so called superacrylics. They are much lighter, stronger and more stable than the traditional acrylic polymers. They also come with a larger number of colours and finishes. The development of new technologies also influenced the number of applications for the acrylic polymers, as they are now widely used in medicine, electronics and aerospace.The rising number of applications is expected to drive the acrylic monomer market even further.
Acrylic Monomer Market Segment Insights:
Acrylic Monomer Market Application Insights
The application segment defines the market dynamics of the Acrylic Monomer Market. Among the key applications, the paints and coatings segment emerged as the leading one, being responsible for a major share of the market revenue in 2023. The dominance of this application can be explained by the wide use of acrylic monomers in the formation of the architectural and industrial coatings due to their great adhesion, durability, and resistance to weathering. Another impactful sector is adhesives and sealants, which benefit from the rising need for the strong and elastic binding agents across the construction, automotive and packaging industries.Acrylic monomers are resistant to chemicals and solvents, and they ensure good bonding strength. SiberonA and Plastics and composites segment employs acrylic monomers as modifiers and reinforcing agents. They enhance polys’ mechanical and optical characteristics, as well as resistance to weathering, radiation, and heat. Textiles and fibers can be considered as a perspective application segment, which is advancing due to the growing need for the acrylonitrile-derived synthetic fibers. Fibers’ properties include softness, drape, and ability to manage moisture; therefore, they prove to be useful in clothing, home textiles, and technical fabrics.The paper and packaging sector remains a niche, where acrylic monomers are used as coatings and binders due to their ability to enhance the printability, strength, and barrier properties of paper and cardboard. They extend the survival and appearance of the stored products. The Acrylic Monomer Market is likely to develop at an incremetal rate during the upcoming years due to the mounting demand from numerous end-use industries.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Acrylic Monomer Market Reactivity Insights
Acrylate monomers held the largest revenue share in the Acrylic Monomer Market in 2023, and this trend is expected to continue through 2032. Acrylate monomers are commonly used in the production of adhesives, sealants, and coatings, owing to their excellent adhesion and durability. Methacrylate monomers, on the other hand, are primarily used in the manufacture of plastics, such as polymethyl methacrylate (PMMA), which is known for its high transparency and resistance to weathering. Other monomers, including acrylamide and methacrylamide, are used in various applications such as water treatment, papermaking, and textile processing.The increasing demand for acrylic monomers across a wide range of industries, coupled with advancements in polymerization technologies, is expected to drive the growth of the Acrylic Monomer Market in the coming years. Key players in the acrylic monomer market include Arkema, BASF, Dow, and Evonik, among others.
Acrylic Monomer Market Molecular Weight Insights
Molecular Weight Segment Insights and Overview The Acrylic Monomer Market is segmented by molecular weight into low, medium, and high molecular weight monomers. In 2023, the low molecular weight monomers segment accounted for the largest share of the market, and is expected to maintain its dominance throughout the forecast period. This growth is attributed to the increasing demand for low molecular weight monomers in the production of adhesives, coatings, and plastics. Medium molecular weight monomers are expected to witness significant growth over the forecast period, owing to their increasing use in the production of specialty chemicals and advanced materials.
Acrylic Monomer Market Regional Insights
The Acrylic Monomer Market segmentation by region offers insights into the market's performance across different geographical areas. The regional segmentation includes North America, Europe, APAC, South America, and MEA. North America is expected to account for a significant share of the global market in 2023, owing to the presence of well-established end-use industries such as automotive and construction. Europe is anticipated to follow North America in terms of market size, driven by factors such as rising demand for acrylic-based products in various industries.The Asia Pacific region is projected to witness the fastest growth over the forecast period, attributed to the increasing demand for acrylic monomers in emerging economies like China and India. South America and MEA are expected to contribute a smaller share to the global market but are anticipated to exhibit steady growth in the coming years.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Acrylic Monomer Market Key Players And Competitive Insights:
Major players in Acrylic Monomer Market are constantly striving to gain a competitive edge in the industry. Leading Acrylic Monomer Market players are focusing on product development, innovation, and strategic partnerships to strengthen their market position. The Acrylic Monomer Market industry is characterized by intense competition, with key players vying for market share through various strategies. Market participants are engaging in mergers and acquisitions to expand their global footprint and product offerings. Collaboration and partnerships with other industry players are also becoming increasingly common to gain access to new technologies, markets, and resources. Companies are investing heavily in research and development to create innovative and differentiated products that meet evolving customer demands.A leading company in the Acrylic Monomer Market, Mitsubishi Chemical Corporation, has a strong global presence and a diverse product portfolio that includes acrylic monomers, polymers, and resins. The company's focus on innovation has led to the development of high-performance acrylic monomers for a wide range of applications, including automotive, construction, and electronics. Mitsubishi Chemical Corporation's commitment to sustainability is evident in its efforts to reduce its environmental footprint through the use of renewable energy sources and eco-friendly technologies. The company's global reach and established customer base have contributed to its leading position in the industry.BASF, another key competitor in the Acrylic Monomer Market, is a global chemical company with a strong presence in the acrylics market. The company offers a comprehensive range of acrylic monomers, including methacrylates, acrylates, and specialty monomers. BASF's focus on customer-oriented solutions and technical expertise has enabled it to establish a strong presence in various industries, including automotive, construction, and coatings. The company's global manufacturing network and commitment to research and development have positioned it as a formidable competitor in the Acrylic Monomer Market. BASF's continued investment in innovation and sustainability initiatives is expected to further strengthen its market position in the years to come.
Key Companies in the Acrylic Monomer Market Include:
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LG Chem
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Mitsubishi Chemical Corporation
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Sumitomo Chemical Company
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Formosa Plastics Corporation
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Showa Denko
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Toray Industries
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Evonik Industries
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Lotte Chemical Corporation
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Hanwha Chemical Corporation
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BASF SENewparaDow Chemical Company
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China National Chemical CorporationenwparaSinopec
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Asahi Kasei Corporation
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Lucite International
Acrylic Monomer Market Industry Developments
The Acrylic Monomer Market is poised to reach USD 19.7 billion by 2032, exhibiting a CAGR of 3.13% during the forecast period (2024-2032). The market is driven by the increasing demand for acrylic polymers in various end-use industries, including automotive, construction, and electronics.Recent news developments in the market include the expansion of production capacity by leading manufacturers such as BASF and Evonik. Additionally, there is a growing focus on the development of bio-based acrylic monomers, driven by environmental concerns and the rising demand for sustainable products.Major players in the market are focusing on strategic partnerships and acquisitions to strengthen their market position. For instance, in 2021, Trinseo acquired Arkema's acrylic monomers business, enhancing its global footprint and product portfolio. Technological advancements, such as the development of high-performance acrylic monomers, are also expected to drive market growth in the coming years.
Acrylic Monomer Market Segmentation Insights
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Acrylic Monomer Market Application Outlook
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Paints and Coatings
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Adhesives and Sealants
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Plastics and Composites
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Textiles and Fibers
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Paper and Packaging
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Acrylic Monomer Market Reactivity Outlook
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Methacrylate Monomers
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Acrylate Monomers
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Other Monomers
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Acrylic Monomer Market Molecular Weight Outlook
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Low Molecular Weight Monomers
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Medium Molecular Weight Monomers
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High Molecular Weight Monomers
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Acrylic Monomer Market Regional Outlook
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North America
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Europe
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South America
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Asia Pacific
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Middle East and Africa
| Report Attribute/Metric |
Details |
| Market Size 2022 |
14.48(USD Billion) |
| Market Size 2023 |
14.93(USD Billion) |
| Market Size 2032 |
19.7(USD Billion) |
| Compound Annual Growth Rate (CAGR) |
3.13% (2024 - 2032) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year |
2023 |
| Market Forecast Period |
2024 - 2032 |
| Historical Data |
2019 - 2023 |
| Market Forecast Units |
USD Billion |
| Key Companies Profiled |
LG Chem ,Mitsubishi Chemical Corporation ,Sumitomo Chemical Company ,Formosa Plastics Corporation ,Showa Denko ,Toray Industries ,Evonik Industries ,Lotte Chemical Corporation ,Hanwha Chemical Corporation ,BASF SENewparaDow Chemical Company ,China National Chemical CorporationenwparaSinopec ,Asahi Kasei Corporation ,Lucite International |
| Segments Covered |
Application ,Reactivity ,Molecular Weight ,Regional |
| Key Market Opportunities |
Growing demand in paints and coatings expanding automotive and construction sectors increasing use in electronics and adhesives surging demand from the packaging industry rising disposable income in developing economies |
| Key Market Dynamics |
Rising demand technological advancements expansion in emerging markets fluctuating raw material prices and environmental regulations |
| Countries Covered |
North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Acrylic Monomer Market is expected to reach a valuation of 14.93 Billion USD by 2023, and is projected to reach 19.7 Billion USD by 2032, exhibiting a CAGR of 3.13% during the forecast period.
The Asia-Pacific region holds a significant market share in the Acrylic Monomer Market, driven by the growing demand for acrylic products in end-use industries such as automotive, construction, and electronics. Other key regions include North America, Europe, and the Middle East & Africa.
Acrylic Monomer finds applications in a wide range of industries, including the production of polymethyl methacrylate (PMMA), adhesives, coatings, and surface treatments. PMMA is used in various products such as automotive parts, construction materials, and medical devices.
Evonik Industries, Dow Chemical, BASF, Mitsubishi Chemical, and LG Chem are some of the prominent players in the Acrylic Monomer Market.
The growth of the Acrylic Monomer Market is driven by increasing demand for lightweight and durable materials in various industries, rising construction activities, and the growing popularity of acrylic-based products in automotive and consumer electronics.
The Acrylic Monomer Market faces challenges such as fluctuating raw material prices, environmental regulations, and competition from alternative materials such as polycarbonate and glass.
The COVID-19 pandemic had a moderate impact on the Acrylic Monomer Market. While demand from certain industries, such as automotive, declined, other industries, such as healthcare and packaging, saw increased demand for acrylic-based products.
Emerging trends in the Acrylic Monomer Market include the development of bio-based acrylic monomers, advancements in polymerization technologies, and increasing adoption of acrylic-based products in sustainable applications.
The future outlook for the Acrylic Monomer Market is positive, driven by the growing demand for lightweight and durable materials, increasing construction activities, and the adoption of acrylic-based products in various industries.
Potential applications of Acrylic Monomer in the future include the development of advanced composites, self-healing materials, and novel drug delivery systems.
