Butyl Acrylate Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
The Business Research Company's Butyl Acrylate Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033 It will grow from $4.85 billion in 2023 to $5.17 billion in 2024 at a compound annual growth rate (CAGR) of 6.8%.”
— The Business Research Company
LANDON, GREATER LANDON, UK, July 18, 2024 /EINPresswire.com/ -- The global butyl acrylate market is projected to grow from $4.85 billion in 2023 to $5.17 billion in 2024, at a CAGR of 6.8%. Despite challenges, the market is anticipated to reach $6.76 billion by 2028 at a CAGR of 6.9%, driven by demand from the construction and building industries, the automotive sector, and packaging industry expansion.
Expansion of the Automotive Sector Drives Market Growth
The expansion of the automotive sector is a significant factor contributing to the growth of the butyl acrylate market. Butyl acrylate is used in the automotive sector to manufacture high-performance coatings and adhesives, providing durability and aesthetic finishes. For instance, according to the European Automobile Manufacturers Association, global motor vehicle production reached 85.4 million units in 2022, a 5.7% increase compared to 2021, indicating robust growth in the automotive sector.
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Key Players and Market Trends
Major companies such as China Petroleum and Chemical Corporation, ExxonMobil Corporation, and BASF SE focus on developing acrylic acid facilities to meet growing demand and ensure long-term profitability. BASF SE, for instance, inaugurated a new acrylic production facility at its Zhanjiang Verbund site in China in March 2023, aiming to meet the growing demand for acrylics in various industries across China and Asia.
Technological Innovations and Advances
Product innovations are a key trend in the butyl acrylate market. Major companies are introducing innovative products to maintain their market position. For example, BASF SE's new facility, with an annual capacity of 400,000 metric tons of butyl acrylate and 100,000 metric tons of 2-ethylhexyl acrylate, exemplifies the industry's drive for innovation.
Segments:
• Product Type: I-Butyl Acrylate, N-Butyl Acrylate, T-Butyl Acrylate • Purity: High Purity, Common Purity • Application: Paints and Coatings, Adhesives and Sealants, Chemical Synthesis, Plastic Additives, Textiles, Other Applications
Geographical Insights: North America Leading the Market
North America led the butyl acrylate market in 2023 and is expected to be the fastest-growing region. The comprehensive report provides detailed insights into regional dynamics, market trends, and growth opportunities.
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Butyl Acrylate Global Market Report 2024 from TBRC covers the following information:
Market size data for the forecast period: Historical and FutureMarket analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.The Butyl Acrylate Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on butyl acrylate market size, butyl acrylate market drivers and trends, butyl acrylate market major players, competitors' revenues, market positioning, and market growth across geographies. The butyl acrylate market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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July 18, 2024, 08:46 GMT
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