Butyl Acrylate falls under the category of unsaturated hydrocarbons. Butyl Acrylate is available in clear colorless liquid and having a characteristic fruity odor, colorless and hygroscopic crystalline solid. Furthermore the butyl acrylate is soluble in organic solvents but shows limited solubility in water, also exhibit less density than water. Butyl Acrylate can readily polymerized and further exhibits wide range of properties depending upon the reaction condition and monomer selection. Butyl acrylate is manufactured and formulated by different process and reaction such as carbon monoxide, nickel carbonyl, acetylene and butyl alcohol reacts together to make butyl acrylate. Commercially butyl acrylate is available in different types and formulation and manufactures tailor-made the formulation according to the end user needs. Butyl acrylate found adoption on large scale in different application such as formulation of adhesives & sealants, paint & coatings, plastic processing, textile and also used in water treatment application. Furthermore, butyl acrylate is commercially used for the formulation and synthesis of co polymers and homopolymers such as acrylic acid and its esters, salts, amides and unsaturated polyesters. The different concentration of the monomer during the formulations of butyl acrylate based acrylic polymers enables the excellent properties such as low temperature flexibility, superior sunlight and weathering resistance & better water resistance. These properties makes the solution as a material of choice in paint & coating formulation. Butyl acrylate also used in cleaning products, paper finishes and antioxidant agents. The double bond present in the compound enables quick reactivity and also allows this product to be adopted as a chemical intermediary.
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Butyl Acrylate Market: Drivers and Restraints
In last few years, an increase in the production & consumption of Butyl Acrylate for numerous application has been witnessed and a similar roadmap and trend is expected to follow in the coming years. The introduction of renewable and innovative procedures of production coupled with growing demand in the petrochemical industry is estimated to influence market evolution positively. Infrastructural developments changing lifestyles, and growing disposable incomes have headed to an increase in refurbishment and renovation activities and construction plans, which have pushed development in this application. Moreover, the increase demand and considerable booming in the automotive industry, and mounting industrialization in all emerging countries have also pushed growth in the paints & coatings market. Innovative approaches of production have made possible the recycle of such compounds and has succeeded to decrease the costs and possible hazards accounted during its manufacturing and application. This will help the growth in the market for long term. Moreover increase in production of butyl acrylate with advanced newly developed technology by the major shareholders present in the value chain helps in driving the growth over the forecasted period. Also, there has been increase in R &D activities by the manufactures has been witnessed which enables the usage of the butyl acrylate based product in different novel applications. However, there is a probability for an oversupply of the butyl acrylate in the industry due to too much capacity building by manufacturers initiating a demand-supply gap and therefore dropping prices for the final product. Furthermore, stringent government guidelines about the disposal and production of the compound owing to its non-bio-degradable property is likely to dent the industry growth over the forecast period.
Butyl Acrylate Market: Segmentation
On the basis of product type, the Butyl Acrylate Market can be segmented as:
- i-Butyl Acrylate
- n-Butyl Acrylate
- t-Butyl Acrylate
On the basis of Application, the Butyl Acrylate Market can be segmented as:
- Adhesives & sealants
- Paint & Coatings
- Others( Consumer Goods, Water treatment)
Butyl Acrylate Market: Region Wise Outlook
The global Butyl Acrylate market is segmented into the seven key regions: North America, Latin America, Western Europe, and Eastern Europe, Asia Pacific Excluding Japan (APEJ), Japan and Middle East and Africa (MEA). As of 2016, the growth in developed regions such as Western Europe, Japan and North America will be driven by the expansion of industries like automotive, and construction. The APEJ and Latin America region will also register rapid growth due increasing demand for adhesives and resins and increase in manufacturing units mainly in the emerging economies such as China and India. In addition increasing populations and disposable incomes which are prominent factors for the high growth of the end-use industries. MEA is also projected to also expand with a significant CAGR over the forecast period.
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Examples of some of the market participants in the global Butyl Acrylate Market identified across the value chain include:
- Dow Chemicals
- Mitshui Chemicals
- Nippon Paints
- Toagosei Co., Ltd.