H1 2023: The largest producers of Butyl Acrylate on a global scale in H1 2023 were BASF SE, Dow Chemical Company, Arkema, and Guangxi Huayi New Material Co. However, BASF SE held the largest production capacity of Butyl Acrylate in H1 2023. The prices of Butyl Acrylate declined in the Asian market during H1 2023. Because of declining consumption of butyl acrylate by the downstream industries in the Asia market, the prices of butyl acrylate were low. Overall, butyl acrylate market remained bearish during H1 2023 in Asia. The low pace of the new orders in the market led to low pricing scenario. Raw material costs declined resulting in minimal input prices and thus lowering the production costs of butyl acrylate. In February 2023, Qixiang Tengda Chemical had their site in China shut for the entire month of February for maintenance purposes. While the consumption by the paints & coatings industry remained stable, there have been no big changes in the demand from other sectors. In China, Butyl Acrylate prices rose slightly in May 2023 but soon fell by the end of the month. Similar market scenario was observed in the North American market with bearish Butyl Acrylate market trend in H1 2023. The level of goods inventory among traders remained steady. This was due to low product consumption by the paints and coatings sector. The supply chain in the region remained stable, ensuring that inventory levels remained stable among dealers and suppliers. Furthermore, shipments of Butyl Acrylate were able to meet the demand from downstream sectors in North America region.
The global Butyl Acrylate market stood around 4000 thousand tonnes in 2022 and is expected to grow at a CAGR of 4.48% during the forecast period until 2032.
Butyl Acrylate is a form of acrylic ester, synthesized via esterification reaction between acrylic acid and n-butanol. The demand for Butyl Acrylate is significantly growing around the globe with rising usage in water-based coatings, increasing construction activities and its application in automotive industries.
The butyl acrylate market is likely to be driven by the Acrylate Copolymers industry in the forecast period. Acrylate Copolymers are employed as solvents by numerous downstream industries such as paints and coatings, and adhesives, which are further used by the construction and automotive sectors. Also, the growing demand for butyl acrylate in the paints and coatings segment is yet another contributing factor to the market growth. Due to its growing use in the construction and automotive industries, as well as an increase in the replacement of existing coatings with water-based paints and coatings, paints and coatings segment is projected to continue its dominance on the butyl acetate market in the coming years. Furthermore, increased industrialization in developing countries, as well as rising demand and significant expansion in the automotive sector, will most likely fuel the growth in the paints and coatings industry which will likely boost the Butyl Acrylate market in the forthcoming years. The increased usage of butyl acrylate in the manufacture of adhesives and sealants is expected to benefit the global Butyl Acrylate industry. The total global Butyl Acrylate market demand is expected to reach around 6000 thousand tonnes by 2032.
Based on region, Asia Pacific dominates the butyl acrylate market based on consumption. In 2022, this region consumed approximately 55% of the global butyl acrylate market and is anticipated to maintain its dominance in the upcoming years. Because of the rising use of butyl acrylate in paints & coatings, sealants, and adhesives which are further used in the building and construction industry is likely to boost the butyl acrylate demand in the forthcoming years. Asian countries such as China and India are spending heavily in building and construction activities such as sustainable infrastructure, smart cities, commercial complexes, and residential buildings, is likely to contribute to butyl acrylate market expansion. Growing investment in the industrial sector is also hastening market growth. As a result, Asia Pacific countries are likely to drive the butyl acrylate market over the forecast period. Based on production capacity, Asia Pacific region ranked as the main producer with being China being on the top.
Based on the end-user industry, the global Butyl Acrylate market is segmented into Acrylate Copolymers, Paints and Coatings, Adhesives and Sealants, and Others. The Acrylate Copolymers industry is dominating the Butyl Acrylate market and is anticipated to grow further in the forecast period. Another significant consumer of Butyl Acrylate global market is the Paints and Coatings industry. The need for Butyl Acrylate in this segment is being driven by an increase in the demand for paints & coatings for a variety of applications across numerous end-use industries, including automotive, construction, industrial, and others.
Major producers in the production of Global Butyl Acrylate market are BASF SE, Dow Chemical Company, Arkema, LG Chem Ltd., Formosa Plastics Corporation, Saudi Acrylic Monomers Company (SAMCO), Shanghai Huayi Acrylic Acid Co., Ltd, PETRONAS Chemicals Group Berhad (PCG), Zhejiang Satellite Petrochemical Co., Ltd., Oita Chemical, Nippon Shokubai Co., Ltd. , Bharat Petroleum Corporation Limited, and others.
Years considered for this report:
Historical Period: 2015- 2022s
Base Year: 2022
Estimated Year: 2023
Forecast Period: 2024-2032
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Objective of the Study:
• To assess the demand-supply scenario of Butyl Acrylate which covers production, demand and supply of Butyl Acrylate market in the globe.
• To analyse and forecast the market size of Butyl Acrylate
• To classify and forecast Global Butyl Acrylate market based on end-use and regional distribution.
• To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., of Butyl Acrylate market in the globe.
To extract data for Global Butyl Acrylate market, primary research surveys were conducted with Butyl Acrylate manufacturers, suppliers, distributors, wholesalers and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for Global Butyl Acrylate market over the coming years.
ChemAnalyst calculated Butyl Acrylate demand in the globe by analyzing the historical data and demand forecast which was carried out considering the production raw material to produce Butyl Acrylate. ChemAnalyst sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• Butyl Acrylate manufacturers and other stakeholders
• Organizations, forums and alliances related to Butyl Acrylate distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Butyl Acrylate manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, Global Butyl Acrylate market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Attribute
Details
Market size Volume in 2022
4000 thousand tonnes
Market size Volume by 2032
6000 thousand tonnes
Growth Rate
CAGR of 4.48% from 2023 to 2032
Base year for estimation
2023
Historical Data
2015 – 2022
Forecast period
2024 – 2032
Quantitative units
Demand in thousand tonnes and CAGR from 2022 to 2032
Report coverage
Industry Market Size, Capacity by Company, Capacity by Location, Operating Efficiency, Production by Company, Demand by End-Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Company Share, Foreign Trade, Manufacturing Process.
Segments covered
By End-Use: (Acrylate Copolymers, Paints and Coatings, Adhesives and Sealants, and Others)
By Sales Channel: (Direct Sale and Indirect Sale)
Regional scope
North America, Europe, Asia Pacific, Middle East and Africa, and South America.
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Member - Board of Directors
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What is the expected global market size of Butyl Acrylate in terms of volume for 2032?
Ans:
The global market size of Butyl Acrylate is expected to reach approximately 6000 thousand tonnes by 2032, and it is expected to further expand with a CAGR of 4.48%.
Q2.
What are the major end-use industries of Butyl Acrylate?
Ans:
Butyl Acrylate is used in various end use industries Acrylate Copolymers, Paints and Coatings, Adhesives and Sealants, and Others.
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