Methyl Acrylate Market Scope
Methyl salt (C4H6O2) is a colourless volatile liquid having a small solubility within the water whereas, methyl radical salt fully gets soluble into ethers, alcohols, and different organic solvents. methyl radical salt is created by reacting propanoic acid with methanol during a reactor at elevated temperature, which supplies methyl acrylate together with water as a by-product.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Key Companies Profiled | Arkema S.A (France), LG Chem Ltd. (South Korea), BASF SE (Germany), Shanghai Huayi Acrylic Acid Co., Ltd. (China), Chinese National Offshore Oil Corporation (China) and CJSC Sibur Holding (Russia) |
CAGR | % |
The global market for methyl acrylate is consolidated by global players in order to cater the growing demand for plastic additives and enhancements in wider industry scope like construction, automobile, packaging and others. The players should focus on offering more enhanced product quality and combination for low safety hazards in order to grab the consolidated market. Research Analyst at AMA estimates that china Vendors will contribute to the maximum growth of Global Methyl Acrylate market throughout the predicted period.
Arkema S.A (France), LG Chem Ltd. (South Korea), BASF SE (Germany), Shanghai Huayi Acrylic Acid Co., Ltd. (China), Chinese National Offshore Oil Corporation (China) and CJSC Sibur Holding (Russia) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research are Zhejiang Satellite Acrylic Acid (China) and Nippon Shokubai Co., Ltd. (Japan).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Methyl Acrylate market by Type , by Application (Surface Coatings, Chemical Synthesis, Adhesives & Sealants, Plastic Additives, Detergents, Textiles and Others) and Region with country level break-up.
On the basis of geography, the market of Methyl Acrylate has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2023.
Market Leaders and their expansionary development strategies
In 2020, Trinseo, a global materials company and manufacturer of plastics acquired Arkema S.A. a leader in specialty chemicals. This acquisition will complement Trinseo’s offerings to wider market including automotive, building & construction, medical and consumer electronics.
In October 2022, Arkema recently introduced a new range of recyclable high-performance polyamides. Partially or fully recycled Rilsan Polyamide 11, Rilsamid Polyamide 12 and Pebax polymers produced under Arkema's Virtucycle program at custom recycling centers in Italy are now being commercialized.
Influencing Trend:
Innovations in the Product in Food Packaging and Plastic Industry as an Additive
Market Growth Drivers:
Growth in Demand for Methyl Acrylate in Emerging Market Such as Technical, and Construction Adhesives
Challenges:
Fluctuation in The Price of Raw Material and Consistent Challenges in The Supply and Demand Side
Restraints:
Stringent Government Regulation Regarding Harmful Gas Emissions by Usage of Methyl Acrylate
Opportunities:
Rise in Applications of Water-Based Coatings Such as Lacquers and Paints to Provide Low-Temperature Flexibility, UV and Water Resistance
Key Target Audience
Research Institutes, End User Industry and Others