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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 2019, 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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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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