Data Bridge Market Research analyses that the methyl acrylate market will witness a CAGR of 4.80% for the forecast period of 2021-2028. Growth in the demand for methyl acrylate especially in the developing economies such as India and China, growing use of methyl acrylate for a wide range of end user applications such as automobile, packaging, construction, cosmetics and other applications, growth and expansion of food and packaging industry and surge in industrialization especially in the developing countries are the major factors attributable to the growth of the methyl acrylate market.
Market Analysis and Insights of Methyl Acrylate Market
Methyl acrylate is an organic chemical compound which is clear, colorless and highly flammable with an arid odor. Methyl acrylate is used as a solvent for a wide range of production processes as it exhibits high amount of ductility and high tensile strength. Further, methyl acrylate is also used as intermediate solvent chemical in the formulation of various chemical processing.
Rise in demand for methyl acrylate by the materials and packaging industry in developed and developing economies is the root cause fuelling up the market growth rate. Rising application areas for methyl acrylate such as in the automotive applications and growth and expansion of various end user industries especially in the developing economies will also directly and positively impact the growth rate of the market. Surging buildings and construction activities, rapid urbanization and growing focus on the technological advancements and modernization in the production techniques will further carve the way for the growth of the market.
However, insufficiency in raw material demand and supply owing to the lockdown and volatility in their prices will pose a major challenge to the growth of the market. High costs associated with research and development proficiencies will dampen the market growth rate. Growing penetration of alternatives in the market will also impede the market growth rate.
This methyl acrylate market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on methyl acrylate market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Methyl Acrylate Market Scope and Market Size
- On the basis of type, the global methyl acrylate market is segmented into industrial and pharmaceutical.
- Based on purity grade, the methyl acrylate market is segmented into less than or equal to 99% and greater than 99%.
- Based on the applications, the global methyl acrylate market has been segmented into surface coatings, chemical synthesis, adhesives and sealants, plastic additives, detergents, textiles and others.
- The methyl acrylate market is segmented on the basis of end user into automobile, packaging, construction, cosmetics and others.
Methyl Acrylate Market Country Level Analysis
The countries covered in the methyl acrylate market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Asia-Pacific dominates the methyl acrylate market owing to the increase in the research and development activities and increase in the demand from numerous end-user industries in this region. Asia-Pacific will continue to undergo substantial gains during the forecast period owing to the high economic growth in the emerging countries, growth and expansion of many end user industries in this region, and abundant availability of raw materials.
The country section of the methyl acrylate market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Methyl Acrylate Market Share Analysis
Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to methyl acrylate market.
The major players covered in the methyl acrylate market report are
Akzo Nobel N.V.,
Evonik Industries AG,
Formosa Plastics Corporation,
KURARAY CO., LTD.,
NIPPON SHOKUBAI CO., LTD.,
China Petroleum & Chemical Corporation,
Mitsubishi Chemical Corporation,
Zhejiang Satellite Petrochemical Co.,Ltd,
Nouryon, Jurong Chemical Group,
SHANGDONG KAITAI PETROCHEMICAL Co. LTD,
Zhejiang Kangde New Materials Co., Ltd among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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