Market Overview:
Acrylate is a conjugate ester, salt and base of acrylic acid. Its structural formula consists a vinyl group attached to the carbonyl carbon in acrylic acid. Isobutyl acrylate is one of the esters of acrylic acid. It is a clear colorless chemical compound available in liquid form in the market. Isobutyl acrylate polymerizes exothermically in the presence of heat and light. Isobutyl forms homopolymers and copolymers with acrylic acids, its other esters, and methacrylate. Application of isobutyl acrylates can be found in diverse sectors including construction, paints & coatings, plastics manufacturing, packaging and automotive. It is also majorly used as a feedstock in number of commercial chemical reactions. Global construction adhesives market is anticipated grow at considerable CAGR, which may drive the demand of isobutyl acrylate as an adhesive. Surge in the disposable income of people in developing countries is favoring the growth of major end use industries such as building & construction, decorative, and automobile. This in turn is expected to propel growth of the global isobutyl acrylate market.
Market Segmentation
The global isobutyl acrylate market is segmented based on application, end use industry, and region. Based on application, the market is divided into adhesives, sealants, coatings, plasticizers, thermoplastics and chemical intermediates. Among these applications, use of isobutyl acrylates as adhesives and sealants is holding major share of overall demand of isobutyl acrylates. The trend of building a sustainable infrastructure in order to conserve the resources would increase the use isobutyl acrylates in construction activities. People are spending a considerable amount on adding decorative value to the commercial and housing buildings, which may drive the demand of isobutyl acrylates for binding decorative materials such as glazing sheets and foils. With rapid industrialization the number of complex and intense industrial process are increasing in bid to diversify the products. This is expected to fuel the demand of isobutyl acrylate in high pressure and temperature adhesive application. Isobutyl acrylates is also used in manufacturing thermoplastics. The global thermoplastic market is constantly heading north on account of its increasing usage in major end use industries such as automotive, construction, medical, and footwear, among the others. Apart from this, chemicals industry is consuming significant share of over isobutyl acrylate demand, wherein isobutyl acrylate undergoes addition reaction with number of organic and inorganic compounds.
Based on end use industry the global isobutyl acrylate is segmented into building & construction, paints & coatings, automotive, plastics, chemicals and others, wherein the major end use industries are building & construction and paints & coatings. Building & construction industry accounts for 35% of the overall demand of isobutyl in its key end use industries. Increasing standards of living mingled with growing disposable income of people in developing countries is favoring the growth of the global isobutyl acrylate market. The decorative materials make considerable use of isobutyl acrylates for binding purpose. Apart from building & construction, paints & coating industry is closely following the same growth trajectory. Automotive industry is leaping constantly owing to an increasing demand of both four and two-wheeler vehicles around the world. The chemicals industry is soaring at higher CAGR in its major regions such as Asia Pacific and North America with the diversification of chemical products to be used in vast number of end use industries such as healthcare, food & beverages, consumer goods and others.
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Competitive Analysis:
- BASF SE
- Mitsubishi Chemical Corporation
- BAMM
- OSAKA ORGANIC CHEMICAL INDUSRTY LTD.
- NIPPON SHOKUBAI CO., LTD.
- Sigma-Aldrich Co. LLC.
- Solventis Limited
Regional Analysis
The major regions in the global isopropyl acrylate are Asia Pacific, North America, and Europe. Other important regions in this market includes the Middle East & Africa and Latin America. Asia Pacific is the largest market among the major regions in the global isobutyl acrylate market. It accounts for ~40% share of the global isobutyl acrylate market. The major markets in this region are India, China, and Japan. This is attributed to the growing construction activities in developing counties in this region. North America is the significant market in the global isobutyl acrylate market. U.S. is the largest market in this region owing to the established aerospace industry along with the growing reconstruction activities. Europe is following North America in terms of market size it is holding in the global isobutyl acrylate market. Countries namely, U.K., Germany, and France are the leading market in this region on account of the growing automotive and decorative industry. The Middle East & Africa is anticipated to grow at higher rate due to the huge growth and investment potential in this region. Lastly, Latin America may join hand with the leading markets with increasing industrialization and pacifying political scenario of the region.
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