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The main objective of this report is to define, describe, and forecast the global “Acrylate Esters” market on the basis of types of applications, major sectors, deployment models, organization size, and regions. The report contains an analysis of the major factors influencing the growth of the market (drivers, restraints, opportunities, and challenges). It aims to strategically analyze the micromarkets with respect to individual growth trends, prospects, and their contribution to the market. The report attempts to forecast the market size for 5 major regions, namely, North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America. It contains key vendor profiles and comprehensively analyzes their core competencies. The report also tracks and analyzes competitive developments, including partnerships, collaborations, acquisitions, new product developments, and R&D activities in the market. According to the report, the global acrylate esters market is projected to grow at a CAGR of 5.9% over the forecast period of 2018-2024.

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Mitsubishi and IOC sign an agreement over the licensing for manufacturing Acrylic Acid and Acrylic Acid Ester in India

In May 2018, Mitsubishi Chemical Corporation (MCC), headquartered at Chiyoda Ward, Tokyo and Indian Oil Corporation Limited (IOC) have concluded an agreement over the licensing of MCC’s proprietary technology for manufacturing acrylic acid and acrylic acid ester.

Indian Oil Corporation Limited, the country’s largest oil and Gas Company, has been working on a project for producing petrochemicals from propylene in Dumad, India. Indian Oil Company has selected MCC’s technology for the process of manufacturing acrylic acid with an annual capacity of 90,000 tons and butyl acrylate with an annual capacity of 150,000 tons in the project.

Rising usages of butyl acrylate in paint and coating industry to promote the growth of acrylate esters market

Acrylate esters are been used in construction coatings. Rising construction industry has thus driven the demand for the acrylate esters market. Moreover, Acrylate Esters are used in various applications such as surface coatings, plastic adhesives, adhesives & sealants, textiles, and detergents. Butyl acrylate is used as a soft monomer to improve the toughness and temperature properties. Expanding demand of butyl acrylate in paint and coating industry is driving the growth of acrylate esters market. However, fluctuation in raw material prices is expected to be challenging for the growth of the acrylate esters market. Going further, rising adoption of biobased acrylic acid for a wide variety of commercial and consumer products including coatings, acrylic paints, adhesives, and textiles is projected to create several growth opportunities for the Acrylate Esters Market.   

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Asia pacific has amassed growth in acrylate esters market during forecast period

On the basis of geographies, Asia Pacific is anticipated to be the largest and fastest growing region for the acrylate esters market followed by Europe and North America. Rising demand from surface coating application is the key factor driving the growth of the market in the Asia Pacific region. In addition, research and development activities to develop new product development by leading players in acrylate esters boosting is also boost the market in the Asia Pacific region. China is the largest consumer of the acrylate esters in the Asia Pacific region.