According to a new report by Expert Market Research, ‘Global Methyl Acrylate Market Size, Share, Price, Trends, Growth, Report and Forecast 2020-2025’, the Acrylate Market was valued at USD 6.86 Billion in 2019 and is projected to reach USD 9.88 Billion by 2025, at a CAGR of 6.3% from 2020 to 2025.
Competitive Landscape & Supplier Analysis:
- Arkema SA (EPA: AKE)
- LG Chem Ltd. (KRX: 051910)
- BASF SE (ETR: BAS)
- Shanghai Huayi Acrylic Acid Co., Ltd.
- Nippon Shokubai Co., Ltd. (TYO: 4114)
- SIBUR International GmbH
- Others
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Methyl acrylate (C4H6O2) is a colourless volatile liquid having a slight solubility in the water while, methyl acrylate completely gets soluble into ethers, alcohols and other organic solvents. Methyl acrylate is produced by reacting acrylic acid with methanol in a reactor at elevated temperature, which gives methyl acrylate along with water as a by-product. Methyl acrylate is used in the formation of photopolymer and copolymer to serve various industrial application such as cleaning and waxing products, synthetic rubbers and latexes etc. Methyl acrylate undergoes an addition reaction with a wide variety of organic and inorganic compounds as well. Methyl acrylate also acts as a reagent in the synthesis of several pharmaceuticals intermediates.
Methyl acrylate is used in the manufacturing of surface coatings, elastomers, adhesives, thickeners, plastics, textiles, and inks. It also acts as a reagent in the synthesis of various pharmaceuticals intermediates. The highest demand for methyl acrylate comes from the food packaging and plastic industry where it offers significant advantage as an additive. It is also used as the starting block for anti-oxidants and amino esters.
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The growing demand for methyl acrylate from end-user such as automobile, construction, packaging and cosmetics industry is expected to drive the growth of the methyl acrylate market in the forecast period of 2020 to 2025. The increasing focus of methyl acrylate usage in surface coatings due to its flexibility of providing temperature variations in the curing process, while providing an excellent finish to the coatings, these factors in combination are inducing high levels of potential growth for the market.
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