Over the recent past, there has been significant growth in the consumption of Polyacrylates due to its growing applications in paint & coatings, adhesives & sealants, leathers and printing ink, among others. Among these applications, paints & coating dominates the Polyacrylates Market in terms of consumption. Growing infrastructural developments, increasing disposable incomes and changing lifestyle have led to an increase in restoration and renovation activities. Further, supported by new construction projects, demand for paints and coating is increasing, which is subsequently resulting into increased demand for Polyacrylates.
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Polyacrylates are a variety of polymers that are rubbery, tough, and soft. These important varieties of polymers are known for their impressive impact toughness, elasticity, and high transparency, and are known to have a moderately good level of heat resistance. Polyacylates also possess good ozone resistance and weatherability as they do not have double bonds.
Polyacrylates find vast uses in a number of industrial processes as these compounds work as intermediates for the production of a variety of industrially viable materials. Polyacrylates are often utilized in the production of paints and coatings, films, organic glass, adhesives, and impregnation chemicals for products such as leather, paper, fabrics, and wood. Polyacrylates are also widely used in the field of medicine, especially in dentistry for the purpose of manufacturing artificial teeth, jaws, and a variety of fillings. Polyacrylates are also used for the manufacture of a variety of prostheses and contact lenses, as well as for manufacturing special castings for the preservation of a variety of items.
The wide set of applications of polyacrylates allows the global polyacrylates market vast growth opportunities. The rising demand for polyacrylates in the medical industry will help the market expand at a promising pace in the next few years.
After the industrial revolution, paints & coatings was recognized as a potential market and became an imperative part of the manufacturing industry. Currently, the paint & coating industry is a major contributor to the economic growth of several countries, such as India, China and ASEAN, among others. From manufacturing to housing, paints and coatings are used in a wide variety of sectors to provide protection and decoration and to extend the life of products. Thus, increasing investments for infrastructural developments and significant growth of the manufacturing industry are some of the factors which, in turn, will help to drive the paints & coatings market in future. Further, with the paints & coatings industry shifting towards the use of water-based and powder-based coatings from traditional solvent-borne coatings, the demand for Polyacrylates, as a raw material, is expected to witness a healthy upsurge.
Polyacrylates are homopolymers or copolymers of acrylate monomers. For the production of Polyacrylates, an acrylate emulsion is synthesized with help of acrylic acid or acrylic ester. Generally, the acrylic acid used in production consists of a vinyl group and a carboxylic acid. The nature of polyacrylates depends on the substituted alkyl group, i.e., R or R’ attached during the production process. Due to the flexibility of the Polyacrylates polymer chain, the glass transition temperatures (Tg) are lower, owing to which Polyacrylates possess good impact strength, high transparency and elasticity, among other properties. The simplest type of acrylates are methyl acrylates which can be synthesized through the esterification of acrylic acid with methanol. Polymethyl acrylates have high strength, elasticity and moderate hardness. They can be used to create flexible films that can be elongated to a 750% ratio. However, Polyethyl acrylate and Polybutyl acrylate can be elongated to 1800% and 2000% of their original size.
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Moreover, due to their adhesive and anti-aging properties, consumption of Polyacrylates has increased in the adhesive & sealants industry – they are being especially used for the manufacturing of pressure- and heat-sensitive adhesives. Further, in the textile industry, Polyacrylates are used for sizing, printing and finishing. Thus, with the growth of these end-use industries across the globe, the Polyacrylates market is expected to witness healthy growth during the forecast period.
The Polyacrylates market is a highly organized market. Significant share of the market is accounted by key players across the globe. Some of the key players identified across the value chain of the global Polyacrylates market include BASF SE, Arkema Inc., Dow Dupont, TOYOBO CO., LTD., Lucite International, Wanhua Chemical Group Co.,Ltd., Sasol Limited, LG Chem Ltd. and TOAGOSEI CO., LTD., among others.
Adoption of organic growth strategy, supported by increasing demand from end-use industries, such as coating, adhesive & sealant and textiles, among others, will help to cater to rising demand in the global market. Over the recent past, there has been an increase in the number of consolidation and expansion activities in the Polyacrylates market. This can primarily be attributed to efforts by companies to meet the increasing demand for Polyacrylates, gain access to high-growth markets of Asia Pacific and strengthen their footholds in regions, such as Europe and North America. Also, innovative approaches towards the production process and recycling have helped in decreasing production costs and eliminating possible hazards during production and application. This will, in turn, help promote the growth of the market in the long term.
In July 2014, Arkema Inc. opened a new Methyl Acrylate production plant in Texas, US. The Company had invested US$ 110 Mn till the completion of the plant, which has a production capacity of around 45,000 Tons/year
In June 2015, BASF SE inaugurated first production plant for acrylic acid and butyl acrylate in Bahia, Brazil. The plant has production capacity of around 160,000 tons per year. The investment of the company was around US$ 650 Mn
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Polyacrylates Market Segment by Region, Type and Future Forecast Until 2028
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