The butyl acrylate market size has grown strongly in recent years. It will grow from $4.85 billion in 2023 to $5.17 billion in 2024 at a compound annual growth rate (CAGR) of 6.8%. The growth in the historic period can be attributed to construction and building industry demand, automotive industry growth, packaging industry expansion, economic growth, urbanization, and infrastructure development.
The butyl acrylate market size is expected to see strong growth in the next few years. It will grow to $6.76 billion in 2028 at a compound annual growth rate (CAGR) of 6.9%. The growth in the forecast period can be attributed to demand from end-use industries, economic growth, technological advancements, raw material availability and prices, and environmental regulations. Major trends in the forecast period include technological innovations, advances in production technologies, increased mergers and acquisitions, and innovative product offerings.
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Segmentation & Regional Insights
The butyl acrylate market covered in this report is segmented –
1) By Product Type: I-Butyl Acrylate, N-Butyl Acrylate, T-Butyl Acrylate
2) By Purity: High Purity, Common Purity
3) By Application: Paints And Coatings, Adhesives And Sealants, Chemical Synthesis, Plastic Additives, Textiles, Other Applications
North America was the largest region in the butyl acrylate market in 2023. The regions covered in the butyl acrylate market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The expansion of the automotive sector is expected to propel the growth of the butyl acrylate market going forward. The automotive sector encompasses the design, development, manufacturing, marketing, and sale of motor vehicles, including cars, trucks, buses, motorcycles, and other types of vehicles. The expansion of the automotive sector is due to improved economic conditions, government incentives and regulations, consumer preferences, and lifestyle changes. Butyl acrylate is used in the automotive sector to manufacture high-performance coatings and adhesives that provide durability and aesthetic finishes. For instance, in May 2023, according to the European Automobile Manufacturers Association, a Belgium-based automobile manufacturers association, the global production of motor vehicles reached 85.4 million units in 2022, reflecting a notable increase of 5.7% compared to 2021. Therefore, the expansion of the automotive industry is driving the growth of the butyl acrylate market.
Key Industry Players
Major companies operating in the butyl acrylate market are China Petroleum and Chemical Corporation, ExxonMobil Corporation, BASF SE, Bharat Petroleum Corporation Limited, The Dow Chemical Company, LyondellBasell Industries Holdings B.V, LG Chem Ltd., Mitsubishi Chemical Holdings, Wanhua Chemical Group Co. Ltd., Evonik Industries AG, Sasol Limited, Arkema Chemicals SA, Formosa Plastics Corporation, Sibur, Nippon Shokubai Co Ltd, Satellite Chemical Co Ltd, TCI Chemicals Pvt. Ltd., JBN SERVICES, Oswal Udhyog Group, Vizag Chemical, Otto Chemie Pvt Ltd, Dhalop Chemicals, KR Chemicals
The butyl acrylate market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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