The global acrylic monomers market is expected to reach US$11,124 mln by 2025, from US$7,012 mln in 2017 growing at a CAGR of 5.7% during the forecast period of 2018 to 2025, as per Data Bridge Market Research. Acrylate monomers are the esters which comprises of vinyl group and have a different range of applications such as coatings, paints, plastics, adhesives & sealants, printing inks and textiles. Acrylate monomers are generated by direct esterification of polyol or alcohol. This esterification is done with meth acrylic acid or acrylic acid. The important application of acrylate monomers is in the paints and coating industry. Better durability and UV resistance, high flexibility and gloss are the major properties of acrylates that influence their consumption. Some acrylate monomers have a different functional group attached to the carbon atom and relates to the type of functional group they are diversified as butyl acrylate, methyl acrylate, ethyl acrylate monomers.
In 2017, Dow chemical company signed an agreement for coatings and silicones market in Saudi Arabia, where it was beneficial in expansion of economic diversification and advanced manufacturing development plan. In 2013, Dow chemical company had established a plant related to acrylic monomer at Middle East region
Market Drivers include:
* Raising demand of acrylic monomers in hygienic products, detergents and waste water treatment chemicals.
* Utilization of acrylate monomers for the improvement of operational efficiency for water based coatings.
* Major revenue contributor in the field of paints & coatings and adhesives & sealants industry.
The global acrylate monomers market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes global acrylate monomers market shares of global, Europe, North America, Asia Pacific, South America and Middle East & Africa. Governments across the globe are investing significantly in the development of pipeline infrastructure in developing countries such as India, China and Brazil. In 2018, BASF Petronas expanded its market in Kuantan, Malaysia with a wide range production of acrylic acid and butyl acrylate.