Acrylate Market Predicts Growth
Markets and Markets, a full-service market research company, recently published a report entitled “Acrylate Market by Chemistry (Butyl Acrylate, Ethyl Acrylate, Methyl Acrylate), Application (Paints & Coatings, Adhesives, Fabrics), End-use Industry (Packaging, Consumer Goods, Building & Construction, Automotive), Region – Global Forecast to 2022.” The title sounds like a different language, but the goal of the report was pretty simple: to define, describe and forecast the acrylate market.
The acrylate market was valued at $6.86 Billion in 2016 and by 2022, is projected to reach $9.88 Billion. This is with a projected compound annual growth rate (CAGR) of 6.3 percent from 2017 to 2022. The CAGR is expected to be so high because there is a growing demand for acrylates to be used in paints, coatings and adhesives, as well as preference for water-based colloids.
The methodology used to garner results for this report was extensive and detailed. Markets and Markets utilized secondary sources such as Hoovers, Bloomberg Business Week and Factiva. They also collected testimony from primary sources, including experts from related industries and suppliers of acrylate.
However, the accurate and salient predictions that resulted from the report were well worth the attention to detail. It was derived that butyl acrylate is currently leading the acrylate market in popularity and sales.
The report suggested that this is primarily due to its application in the production of acrylic polymers, polyethylene, textiles, papers, paints, inks and adhesives. This is particularly apt for Gellner Industrial, as butyl acrylate is used to create acrylic polymers, among other materials.
Regarding types of acrylates, the paints and coatings segment is expected to grow at the highest CAGR during the forecast period. An upturn in the economy and divergent lifestyle trends have resulted in an increase in renovation and refurbishment activities and construction projects, causing a large demand for paints and coatings.
The audience for this report includes: manufacturers of acrylate, chemical suppliers, traders, distributors and suppliers of acrylate, raw material suppliers, government and research organizations and industry associations. However, this report has implications for anyone wondering which market segments they should focus on from now to 2022.