Acrylate Market Size, Share, Forecast, & Trends Analysis by Product (Butyl Acrylate, Methyl Acrylate, Ethyl Acrylate), Grade, Application (Plastics {PVC}, Synthetic Resins), End User (Building & Construction {Commercial}, Automotive)—Global Forecast to 2031

The Acrylate Market was valued at $10.42 billion in 2023. This market is expected to reach $18.31 billion by 2031 from an estimated $11.09 billion in 2024, at a CAGR of 7.4% during the forecast period from 2024 to 2031.

Acrylate Market Size & Forecast

The growth of this market is driven by the rising demand for adhesives and sealants applications, expanding use in the paints and coatings industry, and growing demand for polyethylene. Moreover, increasing use in medical and healthcare applications and growing demand in emerging economies are expected to create market growth opportunities for the stakeholders operating in this market. Furthermore, development of low-VOC and eco-friendly acrylate products and rising focus on high-performance acrylates for automotive coatings are prominent trends in the acrylate market.

Key Findings in the Acrylate Market

• By Product: In 2024, the Butyl Acrylate Segment is Expected to Dominate the Acrylate Market
• By Grade: In 2024, the Standard Grade Segment is Expected to Dominate the Acrylate Market
• By Application: In 2024, the Adhesive & Sealants Segment is Expected to Dominate the Acrylate Market
• By End User: In 2024, the Building & Construction Segment is Expected to Account for the Largest Share of the Acrylate Market
• By Geography: Asia-Pacific is Expected to Dominate the Acrylate Market in 2024

Acrylate Market Growth Drivers

Rising Demand for Adhesives and Sealants Applications

The surge in demand for acrylates is primarily driven by the unique properties of acrylic adhesives, which offer strong bonding capabilities, fast-setting times, and versatility across various applications. These qualities are significantly boosting the demand for acrylates, particularly in the formulation of adhesives and sealants. Adhesives and sealants are vital in sectors such as automotive, construction, electronics, packaging, and healthcare, among others. As these industries evolve, the need for acrylates has grown due to their superior bonding strength, flexibility, weather resistance, and ease of application.

The increasing use of lightweight materials in industries like automotive and aerospace is further supporting this market growth. With the shift toward lighter and more fuel-efficient vehicles, acrylate-based adhesives and sealants provide an ideal solution for bonding composite materials, plastics, and metals, which are increasingly used in vehicle manufacturing. These adhesives offer excellent performance in automotive applications, such as glass bonding, body panels, and interior parts, contributing to weight reduction and improved fuel efficiency.

In construction, acrylates are integral to the development of high-performance sealants that meet the growing need for energy-efficient and sustainable buildings. Acrylate-based sealants are used for weatherproofing, glazing, and insulating applications, offering outstanding durability and resistance to UV radiation, moisture, and temperature extremes. With the global push for green building practices and energy-efficient structures, acrylates are gaining traction for construction sealants that support sustainability and long-term building integrity.

The electronics industry also benefits from acrylates due to their exceptional adhesive properties, particularly for bonding components in electronic devices such as smartphones, tablets, and televisions. Acrylate-based adhesives are favored for their fast-curing times, high bond strength, and ability to withstand varying thermal conditions, making them suitable for intricate and high-precision applications in electronics assembly. Additionally, the global growth of the packaging industry, driven by e-commerce and consumer goods, is also driving the demand for acrylates.

Therefore, the rising demand for adhesives and sealant applications is expected to continue driving the growth of acrylates in the coming years.

Growing Demand for Polyethylene

Polyethylene is a widely used thermoplastic polymer in various applications, including packaging, automotive, construction, and consumer goods. The polyethylene production has increased due to the growth of industries and growth in demand for lightweight, durable, and cost-effective materials. This increase in demand for PE creates a ripple effect, boosting the demand for acrylates, which are usually used in the manufacturing of adhesives, coatings, and sealants, often in combination with polyethylene-based products.

Acrylates, primarily esters of acrylic acid, are major components in the formulation of polymer blends, especially those involving PE. These esters enhance the physical properties of PE, such as flexibility, adhesion, and surface tension, making them ideal for various applications. In packaging, for instance, acrylates are used in coatings and films that enhance the clarity, durability, and barrier properties of polyethylene-based packaging materials. This makes PE packaging more versatile, appealing to industries like food and beverage, pharmaceuticals, and consumer goods, all of which are witnessing rise in demand for packaging materials that are both sustainable and effective.

In the automotive sector, acrylates improve the performance of PE in parts that require increased flexibility, adhesion to other substrates, and resistance to environmental stress. Polyethylene-based automotive components, such as bumpers and trim, benefit from acrylate-based coatings that offer additional protection against abrasion, UV degradation, and chemicals. As the automotive industry continues to evolve with a focus on lightweight materials and improved fuel efficiency, the demand for high-performance polyethylene, enhanced by acrylates, is also growing.

Moreover, the construction industry’s increasing use of polyethylene-based materials for insulation, pipes, and films has driven the need for acrylates in applications such as sealants, paints, and coatings. Acrylates improve the adhesion, water resistance, and durability of these products, making them crucial for long-lasting infrastructure. As industries continue to prioritize high-quality, efficient materials, the demand for acrylates is expected to grow in tandem with polyethylene.

Acrylate Market Trend

Development of Low-VOC and Eco-Friendly Acrylate Products

The increasing environmental regulations and consumer demand for sustainable alternatives are boosting the demand for low-VOC and eco-friendly acrylate products. Usually, acrylates are used in coatings, adhesives, and sealants and can emit high levels of VOCs, contributing to air pollution and health concerns. With increasing concerns, manufacturers are focusing on formulating low-VOC or VOC-free acrylates, using renewable raw materials and adopting green technologies. For instance, in March 2022, TOYOCHEM CO., LTD. (Japan) launched a low-odor, low-VOC acrylic pressure-sensitive adhesive (PSA), the Oribain EXK 21-046, for use in enclosed spaces such as vehicles and building interiors.

These eco-friendly acrylates not only reduce environmental impact but also offer improved safety for end-users. As industries, particularly automotive, construction, and packaging, prioritize sustainability, the demand for these low-VOC, eco-friendly acrylate products is expected to continue to rise, aligning with global efforts to reduce carbon footprints and promote greener manufacturing practices.

Acrylate Market Analysis: Top Market Opportunity

The Butyl Acrylate Segment to Dominate the Acrylate Market in 2024

Based on the product, the acrylate market is segmented into butyl acrylate, ethyl acrylate, methyl acrylate, 2-ethylhexyl acrylate, and other acrylates. In 2024, the butyl acrylate segment is expected to account for the largest share of the acrylate market. This segment’s large market share is primarily due to the widespread use in the production of various products, including adhesives, paints, coatings, and automotive and industrial applications. In addition, the growth in construction and automotive industries, technological advancements, and increasing demand for pressure-sensitive adhesives are supporting the growth of this market.

Butyl acrylate is primarily used in pressure-sensitive adhesives, protective coatings, and sealants, where enhanced flexibility and resistance to harsh environments are critical. It has strong adhesive properties, which make it suitable for pressure-sensitive adhesives and sealants. Furthermore, it helps to enhance the durability and weather resistance of coatings, especially in outdoor or industrial applications. Moreover, it is used in the production of copolymers and in acrylic plastic modifiers. It helps improve the processability and performance of plastics by enhancing their impact resistance and flexibility.

Geographical Analysis

Asia-Pacific Dominates the Acrylate Market

Based on geography, the acrylate market is majorly segmented into five regions: North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2024, Asia-Pacific is expected to account for the largest share of the acrylate market, followed by North America and Europe. Asia-Pacific's significant market share can be attributed to several key factors, such as rapid industrialization, urbanization, increasing population, and availability of raw materials. Additionally, favorable government regulations and incentives for infrastructure development further support the market growth in the region. The rise in residential, commercial, and infrastructure construction, along with the automotive industry’s expansion, is fueling the demand for acrylate-based paints and coatings, particularly in countries like China and India. Furthermore, in 2024, China is expected to account for the largest share in the Asia-Pacific acrylate market.

Moreover, this region is also expected to record the highest CAGR during the forecast period of 2024–2031, due to the increasing shift toward sustainable and eco-friendly solutions. There is growing demand from Southeast Asian countries due to urban expansion, cost-effective manufacturing, and expanding automotive, electronics, and packaging sectors. These are the factors expected to support the growth of this region during the forecast period.

Key Companies

The report offers a competitive analysis based on an extensive assessment of the leading players’ product portfolios, geographic presence, and key growth strategies adopted in the last three to four years. Some of the key players operating in the acrylate market are BASF SE (Germany), Mitsubishi Chemical Corporation (Japan), Evonik Industries AG (Germany), Kuraray Co., Ltd.(Japan), Nippon Shokubai Co., Ltd. (Japan), Arkema S.A. (France),The Dow Chemical Company (U.S.), Sasol Limited (South Africa), KH Chemicals BV (Netherlands), LG Chem, Ltd. (South Korea), SIBUR International GmbH (Austria), and Polysciences, Inc. (U.S.).

Acrylate Industry Overview: Latest Developments from Key Industry Players

• In October 2024, Arkema S.A. (France) launched ethyl acrylate based on bioethanol. This offers a bio carbon content (BCC) of 40% and a product carbon footprint (PCF) reduction of up to 30%.
• In August 2024, BASF SE (Germany) launched bio-based ethyl acrylate to embrace sustainability with 40% bio-content, offering a 30% reduction in PCF compared to its fossil-based counterpart.
• In March 2022, Synthos S.A. (Poland) launched bio-based SYNEXIL AW90CX acrylic dispersion for transparent and pigmented wood coatings.

Acrylate Market Research Summary

Key questions answered in the acrylate market report: