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DUBLIN, June 8, 2023 /PRNewswire/ — The “Global Acrylate Market by Chemistry, Application (Paints & Coatings, Plastics, Adhesives & Sealants, Fabrics), End-use Industry (Building & Construction, Packaging, Consumer Goods, Automotive, Textiles, Biomedical), & Region – Forecast to 2028” report has been added to ResearchAndMarkets.com’s offering.
The acrylate market is projected to reach USD 14.7 billion by 2028, at a CAGR of 6.4% from USD 10.8 billion in 2023. Asia Pacific is home to several emerging economies with rapidly growing building and construction sectors, which further drives the demand for acrylates. China is the largest producer of acrylates in the region.
The growing demand for acrylates in China is mainly driven by the expanding building and construction, packaging, and consumer goods sectors, which have increased the demand for acrylates in various industries.
Ethyl Acrylate segment is expected to account for the second-largest share in 2022.
Ethyl acrylate (EA) is the ethyl ester of acrylic acid, produced through the esterification of acrylic acid with ethanol in the presence of acid catalysts. It is a colorless liquid with a pungent odor and is used in the production of resins, rubbers, plastics, textiles, non-woven fibers, paints, and denture materials. Ethyl acrylate is also used as a reagent in the synthesis of various pharmaceutical intermediates.
Adhesives & sealants is expected to be the second-fastest growing application type for acrylate market during the forecast period, in terms of value.
Acrylates are widely used in water-based adhesives. The increase in the use of emulsion and dispersion adhesives is driving the use of acrylates. The VOC emission regulations will decrease the use of solvent-based adhesives and increase the adoption of water-based adhesives, thus benefiting the acrylate market.
Based on region, Asia Pacific region was the largest market for acrylate in 2022, in terms of value.
Asia Pacific was the largest market for global…
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