Global Isobornyl Acrylate Market Overview
Isobornyl Acrylate Market Size was estimated at 459.57 (USD Billion) in 2022. The Isobornyl Acrylate Industry is expected to grow from 504.84 (USD Billion) in 2023 to 1,175.7 (USD Billion) by 2032. The Isobornyl Acrylate Market CAGR (growth rate) is expected to be around 9.85% during the forecast period (2024 - 2032).
Key Isobornyl Acrylate Market Trends Highlighted
The Isobornyl Acrylate Terrane also showcases certain notable trends that influence its growth on completion of the global market. Rising applications of UV-curable coatings and adhesives in electronics, automotive, and industrial applications remain one key driver. Since it is made from sustainable materials, there is an increased uptake of Isobornyl Acrylate due to the prevailing demand for green and safe products. There is a scope for market growth through the development of new applications for specialty coatings, functional materials, and electronics inks. Continuous R&D activities are centered on improving the properties of Isobornyl Acrylate and introducing new uses for this unique acrylate. Another trend is a larger consumption of Isobornyl Acrylate in bio-based polymers, UV-curable compositions, and glues. This demonstrates the increasing concern for sustainability and environmental friendliness on the part of both consumers and industries.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Isobornyl Acrylate Market Drivers
Growing Demand for Pressure-Sensitive Adhesives (PSAs)
Pressure-sensitive adhesives are indispensable tools for many industries, such as packaging and labeling, and medical applications because of their composition and application versatility. Isobornyl acrylate, or IBA, is one of the most identified raw materials for the production of such adhesives due to several properties, including good adhesion, high shear strength, good resistance to water, and solvents. One of the recent trends contributing to the increased demand for PSAs and, in turn, IBS is the growing use of labels for many types of products.As noted in one of the industry reports, the pressure-sensitive adhesive market is expected to grow with time, and by 2027, the total valuation for this market is estimated to be approximately $ 35.4 billion, with an average CAGR of 5.2%. This trend obviously affects the increased demand for such raw materials as isobornyl acrylate since this substance is one of the key components in most PSA formulations. Another major factor influencing the growth of the IBA market is the increasing use of pressure-sensitive adhesives in light of expanding applications in many fast-growing Asian countries.
Rising Adoption of UV-Curable Coatings
Ultraviolet (UV)-curable coatings are gaining popularity due to their rapid curing time, low energy consumption, and excellent surface properties. Isobornyl acrylate is widely used in the formulation of UV-curable coatings, as it imparts flexibility, toughness, and adhesion to the coatings. The increasing adoption of UV-curable coatings in various applications, such as automotive, electronics, and wood finishing, is expected to drive the demand for isobornyl acrylate in the Isobornyl Acrylate Market Industry.The rising demand for UV-curable coatings in emerging markets, coupled with stringent environmental regulations favoring low-VOC (volatile organic compound) coatings, is anticipated to contribute to the growth of the isobornyl acrylate market.
Expansion of the Electronics Industry
The electronics industry is growing continuously due to the increasing uptake of smartphones, laptops, and other electronic gadgets. Besides, as Krahn et al. state, isobornyl acrylate is used as one of the components in the production of printed circuit boards, electronic components, and other electronic materials. Consequently, these trends are likely to lead to the better performance of the Isobornyl Acrylate Market Industry. Moreover, the expanding use of electronic devices in the automotive, healthcare, and industrial automation industries is forecasted to increase the demand for the discussed element.
Isobornyl Acrylate Market Segment Insights:
Isobornyl Acrylate Market Application Insights
The Isobornyl Acrylate Market is segmented by Application into Paints and Coatings, Adhesives and Sealants, Paper and Paperboard Coatings, Plastics, and Electronics. Among these segments, Paints and Coatings is expected to hold the largest market share in 2023, accounting for over 40% of the Isobornyl Acrylate Market revenue. The growth of this segment is attributed to the increasing demand for Isobornyl Acrylate in architectural, industrial, and automotive coatings. In 2023, the Adhesives and Sealants segment is estimated to be valued at USD 125.4 million, and it is projected to reach USD 245.8 million by 2032, exhibiting a CAGR of 7.8%.The rising demand for pressure-sensitive adhesives, hot melt adhesives, and construction adhesives is driving the growth of this segment. Moreover, the Paper and Paperboard Coatings segment is anticipated to witness significant growth over the forecast period due to the increasing demand for packaging applications. The Plastics segment is also expected to experience substantial growth, owing to the growing use of Isobornyl Acrylate in the production of plastic films, sheets, and extrusions. In 2024, the Electronics segment is projected to reach USD 78.9 million, and it is estimated to exhibit a CAGR of 9.5% during the forecast period.The increasing demand for Isobornyl Acrylate in the manufacturing of electronic components and devices is driving the growth of this segment. The Isobornyl Acrylate Market is expected to witness significant growth in the coming years, driven by the increasing demand from various end-use industries.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Isobornyl Acrylate Market End Use Industry Insights
The End Use Industry segment of the Isobornyl Acrylate Market is expected to grow significantly in the coming years, driven by increasing demand from various industries. The Automotive industry is a major consumer of Isobornyl Acrylate, accounting for a significant share of the market. Isobornyl Acrylate is used in the production of automotive parts, such as coatings, adhesives, and sealants. The Construction industry is another key end-use industry for Isobornyl Acrylate, which is used in the production of construction materials, such as paints, coatings, and adhesives.The Packaging industry also represents a substantial market for Isobornyl Acrylate, which is used in the production of packaging materials, such as films, coatings, and adhesives. The Electronics and Electrical industry is another major end-use industry for Isobornyl Acrylate, which is used in the production of electronic components, such as printed circuit boards and capacitors. The Furniture and Woodworking industry is also a significant consumer of Isobornyl Acrylate, which is used in the production of furniture and other wood products.
Isobornyl Acrylate Market Product Type Insights
The Product Type segment of the Isobornyl Acrylate Market is categorized into High Purity, Low Purity, Technical Grade, and Food Grade. In 2023, the High Purity sub-segment held the largest market share, accounting for approximately 65% of the Isobornyl Acrylate Market revenue. The increasing demand for high-purity Isobornyl Acrylate in various industries, such as electronics and pharmaceuticals, is driving the growth of this sub-segment. The Food Grade sub-segment is expected to witness the fastest market growth during the forecast period, owing to rising consumer awareness regarding the safety and quality of food products.The use of Isobornyl Acrylate as a flavoring agent and stabilizer in food and beverage applications is expected to fuel the growth of this sub-segment. The Technical Grade sub-segment is primarily driven by its applications in industrial coatings and adhesives, while the Low Purity sub-segment finds its use in various low-end applications, such as construction and packaging.
Isobornyl Acrylate Market Viscosity Insights
The viscosity of isobornyl acrylate plays a crucial role in determining its properties and applications. Low viscosity isobornyl acrylate is characterized by its fluidity and ease of application. It is commonly used in coatings and adhesives, where its low viscosity enables smooth spreading and even coverage. This segment is projected to witness steady growth in the coming years, driven by the increasing demand for low-VOC and environmentally friendly coatings. Medium viscosity isobornyl acrylate offers a balance between fluidity and stability. It finds applications in printing inks, where its viscosity allows for controlled flow and precise printing results.This segment is expected to experience moderate growth, supported by the expanding printing and packaging industries. High viscosity isobornyl acrylate is known for its higher molecular weight and thicker consistency. It is primarily used in specialty applications, such as high-performance adhesives and sealants. The high viscosity of this segment imparts enhanced bonding strength and resistance to harsh environmental conditions. The demand for high viscosity isobornyl acrylate is anticipated to grow steadily, driven by the growing adoption of advanced adhesives in various industries.Overall, the viscosity segmentation of the Isobornyl Acrylate Market provides a comprehensive understanding of the market dynamics and growth opportunities. By catering to specific application requirements, each viscosity segment contributes to the overall growth and diversification of the isobornyl acrylate market.
Isobornyl Acrylate Market Regional Insights
The Isobornyl Acrylate Market is segmented into North America, Europe, APAC, South America, and MEA. Among these regions, APAC is expected to witness the fastest growth during the forecast period. The growth in this region is attributed to the increasing demand for Isobornyl Acrylate in the construction industry. In addition, government initiatives to promote green building and sustainable construction are further driving the growth of the Isobornyl Acrylate Market in APAC. North America and Europe are also expected to witness significant growth in the Isobornyl Acrylate Market, owing to the presence of a large number of end-use industries such as automotive, packaging, and electronics.The Isobornyl Acrylate Market in South America and MEA is expected to grow at a slower pace due to economic and political challenges in these regions.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Isobornyl Acrylate Market Key Players And Competitive Insights:
Isobornyl Acrylate Market major key players leading the industry are focusing on developing new products and expanding production capacities. Furthermore, to improve their products’ quality and efficiency, leading Isobornyl Acrylate Market companies are investing in research and development. The Isobornyl Acrylate Market is expected to record significant growth during the forecast period due to the increasing demand from the construction and automotive industries. One of the market’s major key players is Arkema. Furthermore, concerning Isobornyl Acrylate products, the company offers a wide range, including monomers, oligomers, and polymers. Moreover, in the automotive industry, Arkema is one major Isobornyl Acrylate supplier. However, the company has a strong global presence with manufacturing facilities based in Europe, North America, and Asia. A significant Isobornyl Acrylate Market competitor is BASF. The company also offers an extensive portfolio of Isobornyl Acrylate products, including monomers, oligomers, and polymers. Additionally, a major Isobornyl Acrylate supplier to the construction industry is BASF. The company also has a strong global presence with manufacturing facilities in Europe, North America, and Asia.
Key Companies in the Isobornyl Acrylate Market Include:
Isobornyl Acrylate Market Industry Developments
The Isobornyl Acrylate Market is expected to reach USD 1175.7 billion by 2032, exhibiting a CAGR of 9.85% during the forecast period. Increasing demand for bio-based products, coupled with the growing adoption of renewable feedstocks in various industries, is driving the market growth. The Asia-Pacific region is projected to dominate the market, owing to the rising demand for bio-based products in the region. Key players in the market include GEO Specialty Chemicals, Synthomer, and Allnex. Recent developments include the launch of new bio-based Isobornyl Acrylate products and the expansion of production capacities by major manufacturers.
Isobornyl Acrylate Market Segmentation Insights
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Isobornyl Acrylate Market Application Outlook
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Isobornyl Acrylate Market End Use Industry Outlook
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Isobornyl Acrylate Market Product Type Outlook
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High Purity
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Low Purity
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Technical Grade
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Food Grade
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Isobornyl Acrylate Market Viscosity Outlook
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Isobornyl Acrylate 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 |
459.57 (USD Billion) |
| Market Size 2023 |
504.84 (USD Billion) |
| Market Size 2032 |
1175.7 (USD Billion) |
| Compound Annual Growth Rate (CAGR) |
9.85% (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 |
Eastman Chemical Company, The Dow Chemical Company, Evonik Industries, Arkema, Mitsubishi Chemical Corporation, Lanxess, Huntsman Corporation, Zeon Corporation, BASF, Toray Industries, Wacker Chemie AG, SABIC, Sumitomo Chemical Company |
| Segments Covered |
Application, End Use Industry, Product Type, Viscosity, Regional |
| Key Market Opportunities |
Rising demand in electronics construction and automotive Increasing adoption in UV curable coatings Growing preference for eco-friendly materials Expansion in emerging economies Technological advancements |
| Key Market Dynamics |
Rising demand for UV-curable coatings Increasing applications in electronics Growing automotive industry Technological advancements Expansion of AsiaPacific market |
| Countries Covered |
North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Isobornyl Acrylate Market is expected to reach USD 1175.7 billion by 2032, exhibiting a CAGR of 9.85% during the forecast period (2024-2032).
Asia-Pacific is the largest consumer of isobornyl acrylate, accounting for over 50% of the global market share. The region's growing construction and automotive industries are major drivers of demand for isobornyl acrylate.
Isobornyl acrylate is primarily used in the production of pressure-sensitive adhesives, acrylic resins, and coatings. It is also used in the manufacture of paints, inks, and plastics.
The key competitors in the Isobornyl Acrylate Market include BASF, Dow, Arkema, Mitsubishi Chemical, and DIC Corporation.
The growth of the Isobornyl Acrylate Market is driven by increasing demand from the construction, automotive, and electronics industries. The rising use of pressure-sensitive adhesives and acrylic resins is also contributing to market growth.
The Isobornyl Acrylate Market faces challenges such as fluctuating raw material prices and intense competition from alternative materials. Environmental concerns related to the use of isobornyl acrylate can also hinder market growth.
The Isobornyl Acrylate Market is expected to grow at a CAGR of 9.85% during the forecast period (2024-2032). Rising demand from emerging economies and the increasing use of isobornyl acrylate in various applications is expected to drive market growth.
Key trends in the Isobornyl Acrylate Market include the development of bio-based isobornyl acrylate, the increasing use of isobornyl acrylate in water-based adhesives, and the growing demand for isobornyl acrylate in the packaging industry.
Opportunities for growth in the Isobornyl Acrylate Market include the expansion of the construction and automotive industries in emerging economies, the development of new applications for isobornyl acrylate, and the increasing demand for sustainable materials.
Key challenges for the Isobornyl Acrylate Market include the fluctuating prices of raw materials, the intense competition from alternative materials, and the environmental concerns associated with the use of isobornyl acrylate.
