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Base Year
Historical Year
Forecast Year
The global market for methyl acrylate attained a value of USD 405.4 million. The market is estimated to grow at a CAGR of 4% between 2024 and 2032 to reach a value of USD 577 million by 2032.
Global Methyl Acrylate Market Report Summary | Description | Value |
Base Year | USD Million | 2023 |
Historical Period | USD Million | 2018-2023 |
Forecast Period | USD Million | 2024-2032 |
Market Size 2023 | USD Million | 405.4 |
Market Size 2032 | USD Million | 577.0 |
CAGR 2018-2023 | Percentage | XX% |
CAGR 2024-2032 | Percentage | 4.0% |
CAGR 2024-2032 - Market by Region | Asia Pacific | 5.2% |
CAGR 2024-2032 - Market by Country | India | 5.9% |
CAGR 2024-2032 - Market by Country | China | 5.0% |
CAGR 2024-2032 - Market by Application | Adhesives and Sealants | 4.5% |
CAGR 2024-2032 - Market by End Use | Automobile | 4.6% |
Market Share by Country 2023 | China | 7.8% |
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Rising Demand from Food Packaging and Plastic Industries to Aid the Global Market Growth
The industry is driven by the rising demand from the food packaging and plastic industry, where it is used as an additive. The market is further aided by multiple factors, such as rising per capita incomes, changing lifestyles, and rapid urbanisation, especially in emerging economies, like India and China, among others. The rising demand for surface coating due to its extensive use in water-based coatings, such as lacquers and paints to offer low-temperature flexibility and UV and water resistance, is expected to augment the growth of the methyl acrylate market. Further, the growing demand for chemicals for water treatment to maintain sustainability is expected to push the market growth in the forecast period.
2023 Market Share by | Country |
China | 7.8% |
USA | XX% |
Canada | XX% |
Ongoing innovations in the chemical synthesis process to improve the production yield of methyl acrylate is a key trend in methyl acrylate market. Focus on eco-friendliness and green chemistry is encouraging manufacturers to research bio-based alternatives such as feedstocks for the production of methyl acrylate.
As per the methyl acrylate market dynamics and trends, Dow announced in August 2021 that it was investing in methyl acrylate production in the US Gulf Coast. The company stated that this move was a result of the rising demand for methyl acrylate in water treatment, resins, and packaging materials, among others.
According to ITC Trademap, in 2023, China led the global exports with 360,421 tons. As per the methyl acrylate industry analysis, Belgium followed with 276,815 tons, and the United States exported 260,753 tons. Germany exported 196,178 tons, while Saudi Arabia saw a significant export quantity of 139,051 tons. Malaysia exported 138,630 tons, France 112,039 tons, and Taiwan 98,872 tons. South Korea's exports stood at 65,677 tons, the Russian Federation at 63,604 tons, and South Africa at 47,248 tons. The Czech Republic exported 44,238 tons, and Japan's export quantity was 31,135 tons.
In 2021, the Asia Pacific region led the global coatings market, accounting for 27.0 billion Litres (56% of total market volume), with architectural coatings making up 11.68 billion Litres, which also contributed to the growth of the methyl acrylate industry. Europe followed with a market volume of 8.2 billion Litres (17%), with architectural coatings representing 5.15 billion Litres.
North America had a market volume of 5.7 billion Litres (12%), with 3.57 billion Litres dedicated to architectural coatings. Latin America accounted for a market volume of 4.1 billion Litres (8%), with 3.10 billion Litres in architectural coatings. The Middle East and Africa (MEA) region has a market volume of 3.3 billion Litres (7%), with architectural coatings comprising 2.41 billion Litres. OEM and Specialty coatings represent smaller portions of the market across all regions, with Asia Pacific leading in these categories as well, which enhanced the methyl acrylate industry revenue.
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Methyl acrylate refers to the colourless volatile liquid that has slight solubility in water, but in alcohols, ethers, and other organic solvents, it gets completely dissolved. It is used in the production of photopolymer and copolymer to cater to various industrial purposes like cleaning and waxing products, synthetic rubbers, and latexes, among others.
CAGR 2024-2032 - Market by | Application |
Adhesives and Sealants | 4.5% |
Surface Coatings | 4.2% |
Chemical Synthesis | XX% |
Plastic Additives | XX% |
Detergents | XX% |
Others | XX% |
On the basis of application, the market is divided into:
CAGR 2024-2032 - Market by | End Use |
Automobile | 4.6% |
Packaging | 4.3% |
Building and Construction | XX% |
Personal Care and Cosmetic | XX% |
Others | XX% |
Based on end use, the methyl acrylate industry can be segmented into:
CAGR 2024-2032 - Market by | Region |
Asia Pacific | 5.2% |
North America | 3.9% |
Europe | XX% |
Latin America | XX% |
Middle East and Africa | XX% |
The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
CAGR 2024-2032 - Market by | Country |
India | 5.9% |
China | 5.0% |
Brazil | 4.6% |
USA | 3.9% |
Australia | 3.5% |
Canada | XX% |
UK | XX% |
Germany | XX% |
France | 3.5% |
Italy | XX% |
Japan | XX% |
Saudi Arabia | XX% |
Mexico | XX% |
The report gives a detailed analysis of the following key players in the global methyl acrylate industry, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
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The Asia Pacific Presents Significant Growth Opportunities for the Methyl Acrylate Industry
Region-wise, the Asia Pacific region is expected to witness fast growth in the forecast period. Several factors, such as rising disposable income, growing urbanisation, and enhancing living standards, are aiding the market growth in the region, especially in developing economies, like India and China. Methyl acrylate is used in several industries, like furniture, automotive, metal, and paints and coatings, among others. Due to the rising demand for these products, along with the growing population, the methyl acrylate market share is expected to grow rapidly in the forecast period.
However, North America and Western Europe are anticipated to have moderate growth in the automotive sector. Latin America and Eastern Europe are estimated to witness significant growth over the forecast period owing to the rising automotive and paint industries. The Middle East and Africa region is also predicted to exhibit high growth in the coming years as a result of the rising construction activities.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Application |
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Breakup by End Use |
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Breakup by Region |
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Market Dynamics |
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Competitive Landscape |
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Companies Covered |
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Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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The global methyl acrylate market is projected to grow at a CAGR of 4% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach about USD 577 million by 2032.
The major drivers of the market include the rising use of methyl acrylate in various end-use sectors, the robust growth of the automotive sector, and rapid urbanisation and industrialisation.
The rising demand for methyl acrylate in the packaging sector, the growing demand for surface coatings, and the increasing use of the chemical in water treatment are the key trends supporting the market development.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
Surface coatings, chemical synthesis, adhesives and sealants, plastic additives, detergents, and textiles, among others, are the major applications of methyl acrylate.
The various end uses of methyl acrylate include automobile, packaging, building and construction, and personal care and cosmetics, among others.
The major players in the market are Arkema SA, LG Chem Ltd., BASF SE, Shanghai Huayi Acrylic Acid Co., Ltd., Nippon Shokubai Co., Ltd., and SIBUR International GmbH, among others.
The market attained a value of USD 405.4 million in 2023.
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