Global Acrylic Monomers Market, By Product (Acrylate, Acrylic Acids and Salts, Bisphenol Acrylics, Polyfunctional Acrylics, Fluorinated Acrylics, Acrylonitrile, Acrylamide and Methacrylamide, Malemide, Carbohydrate Monomers, Others), Application (Plastic, Adhesives and Sealants, Synthetic Resins, Acrylic Fibers, Building Materials, Fabrics, Acrylic Rubber, Others), End Use (Paints and Coatings, Building and Construction, Automotive, Consumer Goods, Packaging, Water Treatment, Marine, Aerospace, Others) - Industry Trends and Forecast to 2031.
Acrylic Monomers Market Analysis and Size
The acrylic monomers market is driven by increasing spending in the construction sector. In addition, a positive outlook toward the paints and coating industry is an important driver for the market. Moreover, the shifting focus of manufacturers toward eco-friendly acrylic monomers is expected to boost market growth. However, meeting complex and evolving regulatory standards is expected to restrain market growth.
Data Bridge Market Research analyzes that the global acrylic monomers market is expected to reach USD 8,968,297.16 thousand by 2031, which is USD 6,306,373.18 thousand in 2023, registering a CAGR of 4.52% during the forecast period of 2024 to 2031.
"Methyl Methacrylate (MMA)" dominates the market is the segment. MMA is a widely used acrylic monomer, particularly in the production of plastics, coatings, and adhesives, making it a prominent and dominant category in the market.
In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework
Acrylic Monomers Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2024 to 2031
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Base Year
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2023
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Historic Years
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2022 (Customizable to 2016-2021)
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Quantitative Units
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Revenue in USD Thousand, Volume in Thousand Litres
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Segments Covered
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By Product (Acrylate, Acrylic Acids and Salts, Bisphenol Acrylics, Polyfunctional Acrylics, Fluorinated Acrylics, Acrylonitrile, Acrylamide and Methacrylamide, Malemide, Carbohydrate Monomers, Others), Application (Plastic, Adhesives and Sealants, Synthetic Resins, Acrylic Fibers, Building Materials, Fabrics, Acrylic Rubber, Others), End Use (Paints and Coatings, Building and Construction, Automotive, Consumer Goods, Packaging, Water Treatment, Marine, Aerospace, Others)
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Countries Covered
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U.S., Canada, Mexico, Germany, France, Spain, Turkey, U.K., Netherlands, Russia, Switzerland, Belgium, Hungary, Italy, Rest of Europe, China, India, Japan, Australia, South Korea, Malaysia, Singapore, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, South Africa, Egypt, Saudi Arabia, U.A.E., Israel, Rest of Middle East and Africa
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Market Players Covered
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Pallav Chemicals (India), Chirag Enterprise (India), DHALOP CHEMICALS (India), B JOSHI AGROCHEM PHARMA (India), BASF SE (Germany), Arkema (France), Mitsubishi Chemical Group Corporation (Japan), DOW (U.S.), LG Chem (South Korea), Evonik Industries AG (Germany), NIPPON SHOKUBAI CO., LTD. (Japan), Bharat Petroleum Corporation Limited (India), LobaChemie Pvt Ltd. (India), Solvents (U.K.), and Tokyo Chemical Industries Co., Ltd. (Japan)
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Market Opportunities
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Market Definition
Acrylic monomers are those compounds that contain acrylic acid, and the related compound called acrylates. The compound which is named acrylic is mainly an acrylate or acrylic acid or polymer. Acrylic monomers are highly reactive chemicals. Acrylic monomer liquids are generally used with polymer powder to produce long-lasting acrylic nails. Acrylic monomers contain ethyl methacrylate (EMA), owing to their maximum strength, rapid implementation, and superior adhesion properties.
Global Acrylic Monomers Dynamics
Drivers
- Positive outlook toward paints and coating industry
The paints and coatings industry holds a positive outlook with respect to the acrylic monomer market, driven by various factors and applications that contribute to its growth. One of the primary drivers behind the positive outlook for the paints and coatings industry is the extensive use of acrylic monomers, specifically N-butyl acrylate. These monomers serve as essential building blocks for copolymers used in the formulation of paints and coatings. These properties include the ability to form hydrophobic polymers, which are crucial for creating coatings that provide protection and durability. This property makes them particularly valuable in the formulation of coatings, where water resistance and durability are essential. Methacrylate, another essential acrylic monomer derived from methacrylic acid, enjoys widespread usage in diverse applications, including computer screens and paints.
- Increasing spending in the construction sector
The construction sector stands as a vital pillar of global economic development, shaping the skylines of cities and laying the foundation for infrastructure growth. The surge in construction spending is primarily attributed to the growing urbanization and population expansion. With more people moving to cities, there is an escalating demand for residential, commercial, and infrastructure development. Governments and private investors are pouring substantial funds into construction projects to meet these demands. This surge in construction activity serves as a catalyst for the acrylic monomer market.
Opportunity
- Shifting focus of manufacturers toward eco-friendly acrylic monomers
The acrylic monomer market is currently witnessing a significant shift in focus, with manufacturers increasingly turning their attention towards eco-friendly acrylic monomers. One key driver behind this shift is the increasing concern for the environment. In recent years, there has been a growing awareness of the environmental impact of traditional acrylic monomers, which are often derived from fossil fuels and can release harmful emissions during their production. This has led to a heightened demand for more environmentally friendly alternatives. Manufacturers are now investing in research and development to create acrylic monomers that are derived from renewable resources and have a reduced environmental impact.
Restraints/Challenges
- Fluctuations in the prices of raw materials
Fluctuations in raw material prices can act as a restrain in the acrylic monomers market. Similarly, acrylic monomers are made using ingredients like propylene and isobutylene, and their prices can be like a rollercoaster. When these raw material prices suddenly rise, it can make producing acrylic monomers more expensive. Manufacturers might have to charge more for their products or see their profits shrink. Now, think of businesses that use acrylic monomers to make paints, adhesives, or coatings. They rely on a stable supply and cost of these monomers to plan their budgets and prices. When raw material prices jump, it can disrupt these plans, causing uncertainty in the market. Moreover, industries that use acrylic monomers, such as construction or automotive and paint & coatings, also feel the impact. Unpredictable costs can affect their projects and budgets, potentially leading to delays or increased expenses.
- Meeting complex and evolving regulatory standards
The complex and ever-changing rules and regulations can be a major challenge in the acrylic monomers market. In the acrylic monomers industry, there are rules set by governments and environmental agencies around the Globe. These rules are there to ensure the safety of workers, consumers, and the environment. They might include limits on the use of certain chemicals or guidelines on how waste should be managed. Complying with these regulations often requires significant investments in research and development. Companies may need to reformulate their products, change their production processes, or invest in new equipment to meet these standards. The paperwork and documentation required for compliance can also be overwhelming. This can slow down product development and increase costs. Moreover, non-compliance can lead to fines, legal troubles, and damage to a company's reputation, which is expected to challenge market growth.
This acrylic monomers market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the acrylic monomers market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Recent Developments
- In May 2023, NIPPON SHOKUBAI CO., LTD. celebrated the inauguration of a new acrylic acid facility in Cilegon, Indonesia. This state-of-the-art facility boasts a production capacity of 100,000 MT/Y, reinforcing Nippon Shokubai's position as a major player in the acrylic monomer market
- In April 2023, Evonik achieved DIN CERTCO certification for its VISIOMER Terra biobased methacrylate monomers, confirming a bio-content of up to 85%. This certification, based on the C14 radiocarbon method and ASTM D 6866:2021 protocol, highlights Evonik's commitment to sustainability and climate mitigation
- In January 2023, Mitsubishi Chemical Group and Mitsui Chemicals have initiated collaborative research to standardise and optimise chemical logistics, which underlie both society and industry. The corporations want to gradually roll out activities across a variety of key subjects, with those that can be immediately executed expected to begin this fiscal year. Mitsubishi Chemical Group and Mitsui Chemicals will work together to develop stronger, more sustainable chemical logistics
- In November 2022, Arkema Inc. and Nippon Shokubai American Industries, Inc. (NAII), through their joint venture had strengthened their commitment to accelerate the decarbonization of energy sources by entering into a long-term power purchase agreement with EDF Energy Services, LLC (EDF) intended for 100% of their expected annual energy usage supplied by wind power
- In September 2019, Archer Daniels Midland and LG Chem formed a partnership to develop biobased acrylic acid, a key component in superabsorbent polymers used in products like diapers. This joint effort aims to provide sustainable alternatives to the petrochemical-based acrylic acid currently in use
Global Acrylic Monomers Market Scope
The acrylic monomers market is categorized into three segments based on product, application, and end-use. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Product
- Acrylate
- Acrylic Acids and Salts
- Bisphenol Acrylics
- Polyfunctional Acrylics
- Fluorinated Acrylics
- Acrylonitrile
- Acrylamide and Methacrylamide
- Malemide
- Carbohydrate Monomers
- Others
Application
- Plastic
- Adhesives and Sealants
- Synthetic Resins
- Acrylic Fibers
- Building Materials
- Fabrics
- Acrylic Rubber
- Others
End-Use
- Paints and Coatings
- Building and Construction
- Automotive
- Consumer Goods
- Packaging
- Water Treatment
- Marine
- Aerospace
- Others
Global Acrylic Monomers Market Regional Analysis/Insights
The acrylic monomers market is analyzed, and market size insights and trends are provided by product, application, and end-use as referenced above.
The countries covered in the market report are U.S., Canada, Mexico, Brazil, Argentina, rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, rest of Asia-Pacific, U.A.E., Saudi Arabia, Egypt, South Africa, Israel, and rest of Middle East and Africa.
Asia-Pacific is expected to dominate the market due to acrylic monomer having high-performance coatings with exceptional durability, weather resistance, and clarity. Manufacturers in the paints and coatings industry increasingly turn to acrylic polymers to enhance the quality and longevity of their products.
North America is expected to grow with the highest CAGR due to the high adoption of these monomers in the development of adhesives and sealants. Reactive acrylics based on methacrylate monomers have found widespread applications in various adhesive and sealant formulations. Germany dominates Europe region as their increased durability ensures that structures can withstand the test of time, aligning perfectly with the long-term goals of construction projects. Acrylic monomers play a pivotal role in this endeavor by improving the workability and flowability of concrete.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Positive Outlook toward the Paints and Coating Industry
The acrylic monomers also provides you with detailed market analysis for every country growth in expenditure for capital equipment, installed base of different kind of products for acrylic monomers market, impact of technology using life line curves and changes in regulatory scenarios and their impact on the acrylic monomers market. The data is available for historic period 2010-2020.
Competitive Landscape and Global Acrylic Monomers Market Share Analysis
The acrylic monomers market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies focus related to acrylic monomers market.
Some of the major players operating in the acrylic monomers market are:
- Pallav Chemicals (India)
- Chirag Enterprise (India)
- DHALOP CHEMICALS (India)
- B JOSHI AGROCHEM PHARMA (India)
- BASF SE (Germany)
- Arkema (France)
- Mitsubishi Chemical Group Corporation (Japan)
- DOW (U.S.)
- LG Chem (South Korea)
- Evonik Industries AG (Germany)
- NIPPON SHOKUBAI CO., LTD. (Japan)
- Bharat Petroleum Corporation Limited (India)
- LobaChemie Pvt Ltd. (India)
- Solventis (U.K.)
- Tokyo Chemical Industries Co., Ltd. (Japan)
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