Global Polyacrylate Market - Segmented by Product Type, Application, and Geography - Growth, Trends and Forecast (2018 - 2023)
The global polyacrylate market is expected to register a CAGR of 6.15% during the forecast period. Polyacrylate is an important class of polymers, which are tough and rubbery. They are known for high transparency, good impact toughness and elasticity, and have fairly good heat resistance. The two most important acrylic polymers are poly methyl acrylate and poly ethyl acrylate.
Increasing use in Water-Borne Paints & Coatings
Polyacrylate resins account for a major share of the water-borne paints & coatings segment. They are the most popular architectural coatings used. Additionally, the demand for water-borne coatings is consistently increasing across the world, with a large number of automobile manufacturers, such as Hyundai, Toyota, and Honda increasing their usage of water-borne coatings in their products. The Chinese government is also imposing taxes on liquid coatings that do not comply with the VOC emission limits, in turn boosting the demand and usage of eco-friendly coatings (of which water-borne coatings holds a major share). Additionally, the market is boosted by the application of acrylic polymers in elevated temperature applications, as they are an economical alternative for fluorocarbon polymers and silicones.
Adhesives Segment is Expected to have the Highest Growth
Acrylic adhesives are fast-setting and oxidation-resistant adhesives, which can be found in both water- and solvent-based formulations. Due to their high strength, acrylic adhesives are commonly used for building & construction applications, and a specialized variation is widely used for bonding implant prostheses to bones. The products find a wide range of applications in the health and medical field, electronic productions, appliances, and automotive manufacturing. Acrylic adhesives offer varied advantages over others, since they work efficiently even on contaminated surfaces. It also does not affect the aesthetics of the surface.
Asia-Pacific Dominates the Market
Geographically, Asia-Pacific occupied the largest market share followed by North America and Europe. Asia-Pacific experiences a high consumption rate of polyacrylate, due to the increasing use of water-borne paints and coatings material. In addition, this growth can be attributed to the increasing demand for super absorbent polymers in personal care products and presence of the acrylic adhesive industry, in the region.
Key Developments in the Market
February 2018: The Commission Delegated Regulation 2018/122 has amended various provisions of the existing Regulation 1007/2011, which serves as the framework law for textile fiber names and related labelling and marking in the European Union.
January 2016: Arkema introduced a new tie layer resin, Orevac 18362, which has excellent clarity and high adhesion to EVOH barrier films and polyamides.
Major Players: Arkema S.A., BASF SE, DowDuPont, Evonik Industries AG, and Nippon Shokubai Co. Ltd, amongst others.
Reason to Purchase this Report
Analyzing various perspectives of the market with the help of Porter’s five forces analysis
To understand the dominating application and product type used in the market
Countries expected to witness the fastest growth during the forecast period
Identify the latest developments, market shares, and strategies employed by the major market players.
3 months analyst support, along with the Market Estimate sheet (in excel)
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