[FURL=https://www.industryarc.com/Report/16432/acrylic-ester-market.html]Acrylic Ester Market[/FURL] size is forecast to reach $11.1 billion by 2025, after growing at a CAGR of 6.1% during 2020-2025. Acrylic esters are acrylic acid-based polymers used for various applications, such as constructing, adhesives, textiles, detergents, and others in the form of water-based coating solutions. This ester family has replaced solvent based paints and sealants in various applications and is expected to see demand growth during the study period led by increasing coating applications in different industries apart from this high oil resistance and thermal stability are the key features of acrylic esters which are expected to add fuel to the production over the forecast period.Key Takeaways
APAC dominated the acrylic ester market owing to the increasing surface coatings application from construction activities in this region.
During the forecast era, the need for PPMA resins and the industrial manufacture of bio-based acid derivatives are projected to provide a stronger business opportunity for acrylic ester.
Production, as well as off take of acrylic ester market, is likely to virtually decline during 2020-2021 due to COVID-19 impact across various sectors.
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Acrylic Ester Market Segment Analysis - By Geography
Asia Pacific held the largest share with 36% in the acrylic ester market. Geographically, the Asia-Pacific acrylic ester industry dominated because of the strong demand in different industries for surface coating materials. In addition to the largest market, Asia-Pacific is also expected to remain the fastest growing regional acrylic ester market led by increased acrylic ester demand due to the rapid industrialization and infrastructure development particularly in China and India. In line with the 13th five-year plan (2016-2020), Chinese Government aims to build infrastructure on 30,000 km of railways and 30,000 km of expressways, according to the National Growth and Reform Commission and the Ministry of Transport of China. In the next five years, the Indian Government has announced its infrastructure target at US$1.4 trillion, including US$120.5 trillion for the growth of 27 industrial groups, while the Indigenous Railways earned a Rs 72.216 crore (US$10.33 billion) allocation under Union Budget 2020-21. Hence, all these factors will propel the growth of the acrylic ester market in the forecast period.
Acrylic Ester Market Drivers
Increasing demand of Bio-Based Acrylic Acid
Growing need of acrylic ester in surface coatings
Acrylic Ester Market Landscape: Major players in the acrylic ester market are Mitsubishi Chemical Holdings Corporation, Momentive Specialty Chemicals Inc., OJSC Sibur Holding, Nippon Shokubai Co. Ltd., Sasol Ltd., Arkema SA, BASF SE, Evonik Industries, LG Chem Ltd., and among others.
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