Global Methyl Acrylate Market to Reach USD 577 million by 2032 , Driven by the Accelerating Leather and Textile Industry

The methyl acrylate industry is aided by the growing demand for the product from the leather and textile industry, which uses it in the formulation of coatings to deliver a smooth finish to the final product. The accelerating demand for methyl acrylate within emerging industries, such as technical, and construction adhesives, where it is used in the manufacturing process, is also boosting the market growth. In addition, the rising demand for water treatment by the use of chemicals to maintain sustainability is expected to propel the market further.

BASF SE (OTCMKTS: BASFY) is a key industry player for methyl acrylate. In 2020, the company, along with Adani Group signed a Memorandum of Understanding (MoU) to assess a major joint investment in the acrylics value chain. This is the largest investment made by BASF in India up till now. This would increase the company prospects in the country for future projects and enhance the market growth of methyl acrylate over the forecast period. Methyl acrylate has a wide range of portfolios. It is used in detergents, automotive, packaging, and textile industries. Thereby bolstering the market growth of the product.

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Market Analysis by Application, End Use, and Region:

• The methyl acrylate industry, on the basis of application, is divided into surface coatings, chemical synthesis, adhesives and sealants, plastic additives, detergents, and textiles, among others.
• On the basis of end-use, the market is segmented into automobile, packaging, building and construction, and personal care and cosmetic, among others.
• Regionally, the market is divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

• The global methyl acrylate industry is being driven by the inflating disposable income, rapid urbanisation, and changing lifestyles.
• The rising food packaging and plastic industry, where the product is used as an additive, is further aiding the market growth of methyl acrylate.
• The emerging demand for products like adhesives, detergents, plastic additives, and textiles from the developing economies is enhancing the market growth.
• The increasing demand for surface coatings, such as water-based coatings for low-temperature flexibility, and UV and water resistance, is expected to drive the market growth in the forecast period. 

Key Offerings of the Report:

• The EMR report gives an overview of the global market for methyl acrylate for the periods (2018-2023) and (2024-2032).
• The report also offers the historical (2018-2023) and forecast (2024-2032) markets for the applications, end uses, and regional markets of methyl acrylate. 
• It gives an in-depth look at the regional price trends in the global market for methyl acrylate.The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

Arkema SA, LG Chem Ltd., BASF SE, Shanghai Huayi Acrylic Acid Co., Ltd., Nippon Shokubai Co., Ltd., and SIBUR International GmbH, among others, are the key players in the global methyl acrylate market. The EMR report looks into the capacity, market share, and latest developments of these major players like plant turnarounds, mergers and acquisitions, and capacity expansions.

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