Top 6 Companies Leading the Global Methyl Acrylate Market

Arkema SA, LG Chem Ltd., Nippon Shokubai Co. Ltd., BASF SE, Shanghai Huayi Acrylic Acid Co. Ltd., and SIBUR International GmbH, among others, are significant players in the global methyl acrylate market.

The global methyl acrylate market is expected to grow at a CAGR of about 4% in the forecast period between 2022 and 2027. As per the analysis by Expert Research Market, the market is driven by growing demands from its applications as an additive, primarily from the plastics and food packaging industries.

Factors like rapid urbanisation, increase in per capita incomes, and evolving lifestyles are aiding in market growth, especially in the Asia Pacific region. There is an increasing demand for surface coatings due to their extensive application in water-based coatings, in the form of paints and other types of lacquers. This is due to their ability to provide resistance to water and UV, along with flexibility in low temperatures. This is expected to accelerate the growth of methyl acrylate market. The growing demand for water treatment chemicals to maintain sustainability is anticipated to boost the market growth.

Key players in industry have achieved growth in the market through mergers and acquisitions. These moves have helped enhance their reach in the market and uplifted their position in an otherwise highly competitive market. In 2021, BASF SE (FWB: BAS) announced its acquisition of the assets of Zodiac Enterprises LLC in Texas, United States. The acquisition is expected to supplement the circular economy business model of BASF, particularly in recycling of catalysts.

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Top 6 Methyl Acrylate Companies in the World

Arkema SA

Arkema S.A. is France-based company with a focus on specialty chemicals and other form of advanced materials. Arkema S.A. has three business segments, namely, coating solutions, performance products, and industrial chemicals. Arkema S.A. has 13 research centres, 144 production facilities and operates in approximately 55 countries globally. The company had 20,209 employees in 2021 and group sales of EUR 9.5 billion.

LG Chem Ltd.

Considered to be the largest chemical company in South Korea, LG Chem Ltd. has eight factories in the country, and 29 business locations spread across 15 countries. LG Chem Ltd. has three core focus areas, namely, basic materials and chemicals, IT and electronics material, and energy solutions. The company had 18,800 employees in 2021 and annual revenue of USD 32 billion.

BASF SE

BASF SE is a German-based multinational company and is adjudged to be the largest producer of chemicals worldwide. The company comprises of various subsidiaries and joint ventures in over 80 countries. BASF SE also operates six integrated production sites, along with an additional 390 operation sites in the Americas, Europe, Australia, Asia, and Africa. BASF caters to customers from more than 190 countries. BASF SE had 111,047 employees in 2021 and annual revenue of EUR 78.6 billion.

Shanghai Huayi Acrylic Acid Co. Ltd.

Shanghai Huayi Acrylic Acid Co. Ltd. is among the biggest domestic manufacturers that has a specialisation in acrylic acid and esters production. The vast product range include glacial acrylic acid, methyl acrylate, butyl acrylate, ethyl-hexyl acrylate, hydroxy-propyl acrylate, ethyl acrylate, methyl acrylic acid, acrylic acid, and methyl methacrylate.

Nippon Shokubai Co. Ltd.

Nippon Shokubai Co. Ltd. is a global chemical company. The company has four major divisions, namely, basic materials, acrylics, industrial & homemade solutions, and energy and electronics solutions. The company had 4,526 employees in 2021 and annual revenue of JPY 369,293 million.

SIBUR International GmbH

A frontrunner of the global industry for petrochemicals, SIBUR International GmbH, based out of Russia, is the largest petrochemicals company in the country. The company has two business segments, namely, Plastics, Elastomers, and Intermediates, along with Olefins & Polyolefins. The company serves customers in around 100 countries globally.

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