Butyl Acrylate Market - Snapshot

Butyl acrylate is major acrylic monomer from the acrylic esters group, which is derived from acrylic acid for providing performance properties to a wide range of polymers. Butyl esters are utilized in various industries including paints & coatings, adhesives & sealants, textiles, plastic additives, and paper treatment.

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Butyl acrylate monomers impart several desirable properties to polymeric materials such as color stability, heat resistance, aging resistance, clarity, low temperature flexibility, enhanced weather ability as well as acid and base resistance. Butyl acrylate possess characteristics such as hardness, durability, tackiness, and temperature resistance to varying degrees.

Demand for butyl acrylate is driven primarily by GDP, due to its high amount of usage in paints, surface coatings, adhesives & sealants in construction and automotive industries. Therefore, demand for butyl acrylate is expected to be high in developing countries, who are anticipated to witness a rise of GDP at a higher growth rate. This, in turn, is expected to boost automotive and construction sectors in these countries.

In terms of value, the global butyl acrylate market is anticipated to reach US$ 8.1 Bn by 2026, expanding at a CAGR of 5.0% from 2018 to 2026. The global butyl acrylate market has been segmented based on purity and application. Based on purity, the global butyl acrylate market has been segregated into high purity and common purity. The high purity segment is expected to expand at a significant growth rate during the forecast period. Based on application, the global butyl acrylate market has been classified into paints & coatings, adhesives & sealants, chemical synthesis, plastic additives, textiles, and others. The others segment includes pulp & paper applications and leather processing. Butyl acrylate is utilized extensively in the production of plastic compounds. Butyl acrylate is also used in the production of industrial textile materials and apparel. The paints & coatings segment accounted for a significant share of the butyl acrylate market in 2017. It is likely to remain a dominant segment during the forecast period. The adhesives & sealants segment is anticipated to expand at a rapid pace, followed by the paints & coatings segment, in terms of value and volume, between 2018 and 2026.

Butyl acrylate is a major raw material required for the manufacture of engineering plastic components. Currently, the prices of butyl acrylate are increasing due to a shortage of supply. Its availability is affected in China, due to the shortage of supply of acrylic acid, which is a major raw material needed for the production of butyl acrylate. Production of butyl acrylate in the U.S. was disrupted recently by Hurricane Harvey, which caused a shortage, requiring imports or on-purpose production. Hurricane Harvey has disrupted several key feedstocks, leading to the announcements of forced plant shutdowns. The shortage of butyl acrylate, globally, is hampering the market despite production expansions witnessed in APAC. The prices for butyl acrylate are anticipated to rise in the second quarter of 2018 due to high demand. Increasing imports and recovery in supply are likely to play an important in role in 2018 in order to meet the demand for butyl acrylate.

China has established new butyl acrylate manufacturing plants. It plans to expand their capacity due to the sudden increase in demand from automotive and construction industries. In China, new acrylic acid & acrylic ester plants are being established by major Europe-based raw materials manufacturers such as BASF SE & AKEMA S.A.

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Asia Pacific dominated the global butyl acrylate market and accounted for more than 50% share in 2017. It was followed by Europe and North America. The U.S. held a key share of the butyl acrylate market, in terms of volume and revenue, in North America in 2017. It is likely to remain dominant during the forecast period across all regions. Presence of leading acrylic esters manufacturers and increase in demand for water-based coatings, and limitations on VOC emission plastics in the country are driving the demand for butyl acrylate in U.S. The butyl acrylate market in North America, Europe, and Asia Pacific is expected to expand at a high CAGR during the forecast period. The butyl acrylate market in Latin America and Middle East & Africa is projected to expand at a sluggish pace during the forecast period.

The report comprises profiles of major companies operating in the global butyl acrylate market. Key players operating in the butyl acrylate market include ARKEMA S.A., BASF S.E, NIPPON SHOKUBAI CO., LTD, DOWDUPON INC., LG CHEM LTD., TAOGOSEI CO., LTD., Mitsubishi Chemical Corporation, and SunVic Chemical Holdings Corporation. Other prominent players in the butyl acrylate market include Formosa Plastics Corporation, Shenyang Chemical Co., Ltd, OSWAL UDHYOG, Haihang Industry Co., Ltd., Shanghai Huayi Acrylic Co., Ltd., Wanhua Chemical Group Co., Ltd., and China National Offshore Oil Corporation. The market players are primarily focused on acquisition & mergers and strategic partnerships for relocation and consolidation of acrylic ester supply chains. In 2017, SunVic Chemical Holdings Limited and Arkema Asie SAS ('Arkema'), a leading global France-based chemical company, formed a joint venture, i.e. Taixing Sunke Chemical Co., Ltd. The joint venture owns three production lines for acrylic acid & acrylic esters in Taixing City, China.