Acrylic Monomers Market By Product (Butyl Acrylate Monomer, Methyl Acrylate Monomer, and Other), By Application (Paints & Coatings, Adhesives & Sealants, Plastics), By End-User (Automotive, Textiles, Construction, Oil & Gas), By Region And Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends, And Forecast 2023-2032

Report Overview

Acrylic Monomers Market size is expected to be worth around USD 15.4 Bn by 2032 from USD 8.8 Bn in 2022, growing at a CAGR of 5.9% during the forecast period from 2023 to 2032.

The market report pertaining to acrylic monomers offers a profound analysis of this dynamic sphere, adorned with key insights and data-driven recommendations that aim to provide businesses with an intricate understanding of its intricacies. This report diligently delves into the market's vast expanse, encompassing its dimensions, growth trajectory, and prevailing trends. It further expounds upon the prominent players operating within this domain, elucidating the strategies they employ to maintain their competitive edge. Additionally, this report astutely highlights the manifold challenges and opportunities that abound, proffering invaluable insights on how to surmount them.

Acrylic monomers, as chemical compounds, wield a multifarious array of applications across diverse industries, their utility extending to the creation of acrylic resins, coatings, adhesives, plastics, and an assortment of other products. Their proliferation stems from the extraordinary chemical and physical properties they possess, which encompass resolute durability, impeccable transparency, and remarkable resistance to the vagaries of weathering and aging.

The acrylic monomers market boasts indispensability in numerous sectors, ranging from construction and automotive to packaging and electronics. These monomers confer a distinct advantage by seamlessly amalgamating with sundry chemicals, resulting in the formulation of high-performance coatings, adhesives, and plastics. Their reputation for delivering unrivaled clarity, invincible scratch resistance, and formidable UV resistance precedes them.

The growth trajectory of the acrylic monomers market is propelled by an assortment of factors. Foremost among them is the mounting demand for sustainable materials, as well as the relentless advancement of manufacturing processes and the superior performance of acrylic monomers vis-à-vis their chemical counterparts. Furthermore, the escalating need for high-performance coatings, adhesives, and plastics emanating from a multitude of industries is poised to serve as a pivotal driver of market expansion.

However, akin to its chemical brethren, the acrylic monomers market finds itself grappling with ethical concerns that loom large. Central to these concerns is the safety and environmental impact engendered by the manufacturing and utilization of acrylic monomers. In order to assuage these anxieties, myriad companies have resolved to prioritize transparency, elucidation, and accountability in their operations. Concurrently, they are implementing measures designed to attenuate the ecological footprint of their manufacturing processes.

Driving Factors

An Increase in Demand Across Diverse Industries

The global acrylic monomers market is experiencing robust growth propelled by a number of factors. The escalating demand for acrylic polymers across a wide spectrum of end-use industries is one of the primary catalysts. Several industries, including automotive, construction, paints and coatings, textiles, and adhesives, have increased their use of acrylic polymers. This increase is due to their exceptional properties, which include high resistance to sunlight, weathering, and chemical breakdown. These characteristics make acrylic polymers an ideal material for a variety of applications.

Advancements in Polymerization Techniques

Significant advances in polymerization techniques have contributed significantly to the growth of the acrylic monomers market. These developments have led to the creation of novel and innovative products with enhanced properties. Concurrently, the production process itself has become more efficient and cost-effective, fostering industry growth.

Increasing Use of Acrylic Monomers as Raw Materials

The rising use of acrylic monomers as essential raw materials in the production of acrylic-based products is another significant factor fueling market expansion. This trend has resulted in the emergence of a wide range of acrylic-derived products, such as acrylic acids, acrylic esters, and acrylic sheets, to meet the varied requirements of consumers.

Emerging Technologies for Sustainability

Emerging technologies such as green polymerization techniques and the production of bio-based monomers have the potential to influence the future of the acrylic monomers market. These innovative approaches seek to reduce the environmental impact of chemical products by providing alternatives that are more sustainable. Embracing and employing these technologies can help businesses align with shifting sustainability objectives and consumer preferences.

Potential Disruptors and Changing Consumer Preferences

The competitive landscape of the acrylic monomers market could be threatened by a number of factors. The entry of new market participants or changes in consumer preferences can have a substantial effect on market dynamics. To thrive in this dynamic environment, companies in the industry must maintain vigilance, adapt quickly to market changes, and address evolving consumer demands proactively.

Restraining Factors

The Volatility in Raw Material Prices

The volatility of raw material prices is one of the most significant barriers to entry for the Global Acrylic Monomers Market. As a downstream industry, acrylic monomer producers rely on upstream industries for basic materials such as petroleum, ethylene, propylene, and benzene. Due to market conditions, geopolitical situations, and variations in production capacities, the prices of these raw materials may fluctuate drastically at times. This can result in higher production costs and lower profit margins for acrylic monomer manufacturers. To combat the volatility of raw material prices, manufacturers must take measures such as effective hedging, supply chain optimization, and long-term contracts.

Environmental Concerns Related to the Production and Disposal of Acrylic Monomers

Environmental concerns associated with the production and disposal of acrylic monomers are another constraining factor for the Global Acrylic Monomers Market. In the manufacture of acrylic monomers, hazardous chemicals such as methanol, formaldehyde, and glacial acrylic acid are utilized. During production and transportation, these chemicals may pose a threat to the environment. In addition, the disposal of waste products from the manufacturing process can cause environmental harm, such as air and water pollution. Therefore, the industry must utilize non-toxic solvents, recycle refuse products, and implement stringent waste management policies.

The Threat of Competition from Alternative Polymerization Technologies

Alternative polymerization technologies are another threat to the Global Acrylic Monomers Market. These technologies include polyethylene, polypropylene, and polyvinyl chloride, which have comparable properties to acrylic polymers at a lower cost. These technologies have slowed the development of the acrylic monomers market, necessitating innovation and technological advances in production to maintain a competitive advantage.

Regulatory Restrictions on Certain Acrylic Monomers

Lastly, certain acrylic monomers are subject to regulatory restrictions on the Global Acrylic Monomers Market. Due to their hazardous properties, China, the United States, and the European Union have placed restrictions on the use of specific acrylic monomers, including methyl methacrylate and butyl acrylate. These restrictions can hinder the growth prospects of the acrylic monomers market in these nations, necessitating alternative production methods and product innovation.

Product Analysis

The Butyl Acrylate Monomer Segment is becoming increasingly dominant in the global acrylic monomers market. In recent years, the demand for butyl acrylate has increased due to its superior water resistance, high gloss, and exceptional adhesion. The Butyl Acrylate Monomer Segment is expected to dominate the global acrylic monomers market in the coming years, according to a recent report by MarketsandMarkets.

According to the report, the rising demand for butyl acrylate monomer is predominantly attributable to the increased production of polymers for coatings, adhesives, and sealants. Major end-users of butyl acrylate monomer include the automotive, construction, and textile industries. These industries require coatings, adhesives, and sealants that can withstand severe environments and provide corrosion and abrasion protection.

Due to their rapid economic development, emerging economies are propelling demand for the Butyl Acrylate Monomer Segment. In countries such as India, China, and Brazil, the construction and automotive industries are expanding rapidly. As a consequence, there is an increase in demand for high-performance coatings, adhesives, and sealants. This trend is anticipated to persist over the next few years, resulting in an increase in demand for butyl acrylate monomer.

Application Analysis

The Adhesives & Sealants Segment dominates the global acrylic monomers market, and its share is anticipated to rise over the next few years. The automotive, construction, and packaging industries all use adhesives and sealants extensively. The demand for adhesives and sealants with superior bonding strength and resistance to severe environments is on the rise.

Due to their rapid economic development, emerging economies are fueling demand for the Adhesives & Sealants Segment. These economies are experiencing substantial development in their automotive and construction sectors, which is increasing demand for high-performance adhesives and sealants. Increasing demand for packaged foods and other consumer products is also contributing to the expansion of the packaging industry. This trend is anticipated to persist over the next few years, resulting in an increase in demand for adhesives and sealants.

End-User Analysis

The Automotive Segment dominates the global acrylic monomers market, and this dominance is anticipated to continue in the future years. Coatings, adhesives, and sealants for the automotive industry are produced extensively using acrylic monomers. These products offer superior protection against corrosion, the elements, and ultraviolet light.

Due to their rapid economic development, emerging economies are fueling the expansion of the Automotive Segment. These economies are experiencing substantial development in their automotive industries, which is increasing demand for high-performance coatings, adhesives, and sealants. Additionally, the automotive industry is experiencing a shift toward lightweight materials and electric vehicles, which necessitates the development of new coatings and adhesives to satisfy the specific needs of these products.

Additionally, consumer trends and behavior toward the Automotive Segment are undergoing accelerated change. Consumers are becoming increasingly concerned with the safety and environmental impact of the automobiles they purchase. Automotive manufacturers are developing safer, more fuel-efficient, and less polluting vehicles in response to this trend. This has increased the use of acrylic monomers in the automotive industry for the production of coatings, adhesives, and sealants.

Key Market Segments

By Product

• Butyl Acrylate Monomer
• Methyl Acrylate Monomer
• 2-Ethyl Hexyl Acrylate Monomer
• Ethyl Acrylate Monomer

By Application

• Paints & Coatings
• Adhesives & Sealants
• Plastics

By End-User

• Automotive
• Textiles
• Construction
• Oil & Gas

Growth Opportunity

Development of Sustainable and Bio-Based Acrylic Monomers

As environmental concerns continue to be of paramount importance, manufacturers are developing more sustainable and bio-based acrylic monomers to meet market demands. Manufacturers can reduce their carbon footprint and environmental devastation by using monomers made from sustainable resources. Bio-based monomers are biodegradable and derived from renewable resources, making them an attractive alternative to conventional monomers. The development of sustainable and bio-based acrylic monomers will assist manufacturers in reducing their environmental impact and enhancing their product offerings, resulting in market expansion.

Construction and automotive Industry Expansion Drives Acrylic Polymer Demand

The construction and automotive industries are significant acrylic polymer consumers. Acrylic polymers are used to manufacture paints, coatings, and adhesives, which are essential components in both industries. As these industries continue to grow, so will the demand for acrylic polymers. Future market development is anticipated to be significantly influenced by the expansion of the construction and automotive industries in emerging markets like Asia-Pacific and Latin America.

Focus on Water Based Acrylic Systems

Acrylic systems based on water have several advantages over solvent-based systems. The lower volatile organic compound (VOC) emissions of water-based systems make them more environmentally benign. In addition, they have lower flammability ratings and are safer to handle. In the future years, manufacturers will likely place a greater emphasis on water-based acrylic systems as they seek alternatives to solvent-based systems.

Adoption of Specialty Acrylic Monomers for Niche Applications

In a variety of niche applications, such as dental materials, contact lenses, and optical fibers, specialty acrylic monomers are utilized. The demand for specialty acrylic monomers will increase as new applications are discovered. Adopting specialty acrylic monomers for niche applications enables manufacturers to distinguish themselves from rivals and acquire higher margins. Significant growth potential exists for specialty acrylic monomers, provided that manufacturers continue to innovate and develop new applications.

Penetration into Emerging Markets with Increasing Manufacturing Capabilities

Emerging markets such as Asia-Pacific and Latin America offer manufacturers substantial growth opportunities. Rapid industrialization and urbanization are propelling demand for acrylic monomers in these markets. As manufacturing capacities expand in these markets, manufacturers can take advantage of reduced expenses and acquire access to new customers. Penetration into emerging markets is anticipated to be a major market development driver in the future.

Latest Trends

Shift towards environmentally friendly and low VOC acrylic formulations

In recent years, the demand for eco-friendly coatings and paints with minimal environmental impact has increased. As a consequence, the acrylic monomers market is shifting toward low-VOC and water-based formulations. These formulations are non-toxic, innocuous, and more manageable than their solvent-based alternatives. Due to their low emissions of hazardous air pollutants (HAPs), low-VOC acrylic coatings are becoming increasingly popular in the automotive, aerospace, and industrial sectors. As environmental regulations become more stringent, it is anticipated that the demand for eco-friendly acrylic coatings will increase.

Utilization of Cross Linkable Acrylic Monomers for Enhanced Performance

Cross-linking is the process of linking the polymer chains of acrylic monomers to form a network structure. This network structure improves the performance of acrylic coatings, making them more durable, scratch-resistant, and UV-radiation-resistant. In the automotive, construction, and electronics industries, cross-linkable acrylic monomers are widely employed. These monomers have high glass transition temperatures, making them appropriate for applications requiring resistance to high temperatures. In the approaching years, the demand for cross-linkable acrylic monomers is anticipated to increase due to their superior performance characteristics.

Development of self-healing and self-cleaning acrylic coatings

Due to their ability to repair and sustain their appearance over time, self-healing and self-cleaning materials are becoming increasingly popular. Several companies are developing self-healing and self-cleaning acrylic coatings for the acrylic monomers market that can autonomously repair surface damage and scratches. These coatings have prospective applications in the automotive, aerospace, and marine industries, where surface appearance is crucial. Also being developed are self-cleaning acrylic coatings that repel grime and water, making them ideal for architectural facades and building exteriors.

Integration of acrylic-based materials in 3D printing and additive manufacturing processes

Acrylic-based materials are also finding applications in the 3D printing and additive manufacturing industries, which are expanding rapidly. Due to their superior mechanical properties and ease of processing, acrylic filaments are extensively used in the production of 3D-printed parts. In the coming years, the use of acrylic-based materials in 3D printing is anticipated to increase due to their capacity to manufacture high-quality, complex parts. In addition, acrylic polymers are used in additive manufacturing processes such as stereolithography (SLA) and digital light processing (DLP) to produce prototypes and end-use parts.

Regional Analysis

Over the years, the acrylic monomers market has consistently expanded, and North America has emerged as the dominant player in this market. This article will investigate why North America has been so successful in the acrylic monomers market and the factors that have contributed to this dominance.

Let's begin by defining what acrylic monomers are. Acrylic monomers are a category of compounds used to create polymers and plastics. Their high reactivity and rapid polymerization rates make them suitable for use in a wide variety of applications, including adhesives, coatings, and textiles.

More than forty percent of the global acrylic monomers market is now controlled by North America. Numerous factors contribute to the success of North America in this market.

First, the chemical industry in North America is highly developed, with a highly skilled labor force and advanced manufacturing capabilities. This has enabled North American firms to produce high-quality acrylic monomers at competitive prices, allowing them to capture a substantial portion of the global market.

Second, North America has a large and varied customer base for acrylic monomers, extending from the automotive and construction sectors to the healthcare and personal care industries. This has increased the demand for acrylic monomers in North America, which has contributed to the market's expansion.

Thirdly, North American businesses have been quick to implement new technologies and innovations in the field of acrylic monomers, resulting in the creation of new products with improved properties and performance. This has allowed North American companies to remain competitive and maintain their market dominance.

Key Regions and Countries

North America

• US
• Canada
• Mexico

Western Europe

• Germany
• France
• The UK
• Spain
• Italy
• Portugal
• Ireland
• Austria
• Switzerland
• Benelux
• Nordic
• Rest of Western Europe

Eastern Europe

• Russia
• Poland
• The Czech Republic
• Greece
• Rest of Eastern Europe

APAC

• China
• Japan
• South Korea
• India
• Australia & New Zealand
• Indonesia
• Malaysia
• Philippines
• Singapore
• Thailand
• Vietnam
• Rest of APAC

Latin America

• Brazil
• Colombia
• Chile
• Argentina
• Costa Rica
• Rest of Latin America

Middle East & Africa

• Algeria
• Egypt
• Israel
• Kuwait
• Nigeria
• Saudi Arabia
• South Africa
• Turkey
• United Arab Emirates
• Rest of MEA

Key Players Analysis

BASF SE, for instance, is a prominent producer of acrylic monomers and offers a wide range of products for a variety of applications, including emulsion polymers, adhesives, coatings, and sealants. The company has a strong global presence and a reputation for producing high-quality goods and engaging in sustainable business practices.

Dow Inc. is an additional significant player in the acrylic monomers market, offering a variety of products including methacrylates, acrylic acid, and specialty monomers. The company has an extensive global presence and a reputation for sustainability and innovation.

Arkema S.A. is a global leader in the production of numerous specialty compounds, including acrylic monomers. The business provides a vast array of products, including functional monomers, waterborne resins, and thermosetting resins.

Mitsubishi Chemical Corporation is a prominent producer of methacrylate monomers and polymers and has a global presence. The company offers a diverse array of products, including automotive coatings, electronic components, and medical devices.

Evonik Industries AG is a global specialty chemicals corporation that manufactures acrylic monomers for a range of applications. The company is well-known for its innovative products and eco-friendly business practices and has a significant presence in the Asian, European, and North American markets.

Top Key Players in Acrylic Monomers Market

• NOVA Chemicals
• Dow Inc.
• Arkema S.A.
• Mitsubishi Chemical Corporation
• Formosa Plastics Corporation
• AGC Chemicals
• Chevron Philips Chemical Company LLC
• BASF SE
• Bayer AG
• Reliance Industries Limited
• Evonik Industries
• Other Key Players

Recent Development

• In 2022, BASF SE, a global leader in the chemical industry, announced plans to expand its acrylic monomer production capacity in order to satisfy the rising demand for high-quality acrylic products.
• In 2023, the French chemical company Arkema SA completed its acquisition of Lucite International Inc., a prominent manufacturer of acrylic monomers, with the intention of bolstering its market position and expanding its portfolio of acrylic products. The acquisition has already had a considerable impact on the market, as evidenced by the rise in Arkema's stock price in response to the announcement.
• In 2023, Nippon Shokubai Co Ltd, a Japanese chemical corporation, will release a new acrylic monomer product. The new product of the company promises improved quality and performance and is anticipated to revolutionize the industry.

Report Scope