Polyacrylate Market is forecast to reach $2.28 billion by 2025, after growing at a CAGR of 5.95% during 2020-2025. Increasing global population along with growing disposable incomes have contributed to growth in various end-use industries, including Polyacrylate market
growth. The demand for Polyacrylate has driven the increase in construction activities in many countries, especially the developing countries and the renovation of older structures coupled with consumer demand for highly featured coatings. Further, enhance the overall market demand for Polyacrylate during the forecast period.
- Polyacrylate is widely used as a cosmetic adhesive and the increasing demand for cosmetic products will also rapidly increase the demand for Polyacrylate.
- Fast-growing paints and coating industry, Polyacrylate are used in powder coating applied for appliances and automotive parts. Further, enhance the market demand for Polyacrylate during the forecast period.
- The huge growth of paints & coatings, adhesives, and textile industries mainly drives the global Polyacrylate market. Because of its excellent features, this polymer is used in versatile applications.
Type – Segment Analysis
Poly (Methyl Acrylate) segment held the largest share in the Polyacrylate Market in 2018. This polymer is high transparency, good impact toughness, elasticity, good weatherability and ozone resistance when compared to other types of Polyacrylate
Application – Segment Analysis
Adhesives segment has been the primary market for Polyacrylate is growing at a CAGR of XX%. Acrylic adhesives are rapid-setting adhesives, which can be used in water-based formulations and solvent-based adhesives. Due to their strength, acrylic esters adhesives are widely used in building and construction application and a unique variation is commonly used for the bonding of implant prostheses to bones. Such products cover a wide range of applications in the sectors of health and medical, appliances and automotive manufacturing. The benefits of acrylic adhesives differ compared to others because they even work on contaminated surfaces efficiently.
Geography – Segment Analysis
APAC dominated the Polyacrylate Market with a share of more than 28.1%, followed by North America and Europe. The economy of APAC is mainly influenced by the economic dynamics of countries such as China and India, but with growing foreign direct investment for economic development of South East Asia, the current scenario is changing. Countries in South East Asia are witnessing high growth. Due to fast economic growth in India and China, a change in sector trends is noted. With many Asia-Pacific nations still mainly rural, economic growth is set to promote continuing urbanization. In addition, population growth in these nations is anticipated to increase demand for end-use industry, which in turn is projected to drive the Polyacrylate Market during the forecast period. India is likely to witness a USD 1.3 trillion investment in housing over the next seven years, where the country is likely to see 60 million new homes being built. It is anticipated that the supply of affordable housing in India will increase by about 70% by 2024. The’ Housing for All by 2022′ of the Indian government scheme is a major game change for the industry. All these factors attribute to the market growth of the market.
Drivers – Polyacrylate Market
- Increasing use in Water-Borne Paints & Coatings
Most of the water-borne paints & coatings segment is formed by Polyacrylate resins. These are used in architectural surface coatings Moreover, the market for water-borne coating is rising consistent worldwide with the increasing use of water-borne coating in their products by a large number of automobile manufacturers, for example Hyundai, Toyota and Honda. In addition, the Government of China is imposing taxes on liquid coatings that do not meet the VOC emission requirements, thus increasing demand and use of eco-friendly coatings (which include a significant share of water-borne coating). In addition, the use of acrylic polymers in high-temperature applications improves the demand as they are cost-effective and alternatives to fluorocarbon polymers and silicones.
Challenges – Polyacrylate Market
- Availability of Biodegradable Alternatives like Thermal Polyaspartate
Polyacrylate is nontoxic and environmentally benign, but it is not biodegradable. Because it is widely used for many applications, it poses an environmental problem from a landfill perspective. When Polyacrylate is used as an antiscalant or a dispersant, it becomes part of wastewater. Polyacrylate is nonvolatile and not biodegradable, so the only way to remove it from the water is to precipitate it as an insoluble sludge. Polyaspartate has similar properties to the Polyacrylate and so it can be used as a dispersant, or an antiscalant, or a super absorber. Polyaspartate is bio degradable.
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Polyacrylate market. In 2018, the market of Polyacrylate has been consolidated by the top five players accounting for xx% of the share. Major players in the Polyacrylate Market are BASF SE, Evonik Industries AG, Lucite International, LG Chem Ltd., DowDupont, Arkema S.A., Kao Corporation, Nippon Shokubai Co. Ltd., Sanyo Chemical, and RSD Polymers Pvt Ltd., among others.
- In 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.
- In January 2016, Arkema introduced a new tie layer resin, Orevac 18362, which has excellent clarity and high adhesion to EVOH barrier films and polyamides.