H1 2023: The largest producers of Butyl Acrylate in the Asia Pacific region in H1 2023 were LG Chem Ltd., BASF-Petronas JV, Zhejiang Satellite Petrochemical Co., Ltd., and Oita Chemical. However, LG Chem Ltd. held the largest production capacity of Butyl Acrylate in H1 2023. In the first half of 2023, butyl acrylate prices fell on the Asian market. Prices for butyl acrylate were low due to a decline in usage by downstream industries in the Asia market. In Asia, the butyl acrylate market was overall negative in H1 2023. Low pricing was the result of the market's slow rate of new orders. The price of inputs decreased as a result of falling raw material costs, cutting the cost of producing butyl acrylate. In February 2023, Qixiang Tengda Chemical had its site in China shut down for the entire month of February for maintenance purposes. There have been no significant changes in the demand from other sectors, but the paints and coatings industry's consumption remained consistent. Prices for butyl acrylate in China increased marginally in May 2023 but quickly decreased by the end of the month. No notable changes occurred in May and June, but the construction industry was still steady in the Asian nations.
The Asia Pacific Butyl Acrylate market stood around 2100 thousand tonnes in 2022 and is expected to grow at a CAGR of 4.66% during the forecast period until 2032.
Butyl Acrylate is a type of acrylic ester that is created through the esterification of acrylic acid with n-butanol. Copolymers and homopolymers are created by butyl acrylate. Because it easily engages in addition reactions with a variety of organic and inorganic chemicals, butyl acrylate is also a very helpful feedstock for chemical synthesis. It serves as a raw material for plastics, acrylic rubber, emulsions, adhesives, coatings, and fibre processing agents. Because of its use in water-based coatings, rising construction activity, and its use in the automotive industry, butyl acylate demand is rapidly rising in APAC.
The demand for butyl acrylate is projected to increase in the upcoming years due to the growing use of butyl acrylate in paints & coatings, sealants, and adhesives that are also used in the building and construction industry. Asian nations like China and India are extensively involved in construction, which is projected to support the growth of the butyl acrylate market. These nations are also investing heavily in smart cities, sustainable infrastructure, commercial complexes, and residential buildings. The industrial sector is seeing increasing investment, which is accelerating market expansion. Asia Pacific nations are therefore projected to dominate the butyl acrylate market over the forecast period. Asia-Pacific nations like Japan and India are making large investments in building and construction projects including smart cities, business complexes, and residential structures. The industrial sector's growing investment is also propelling the market's expansion. As a result, it is anticipated that Asia Pacific nations will dominate the butyl acrylate market throughout the projection period. The size of Asia Pacific Butyl Acrylate market is expected to reach around 3300 thousand tonnes by 2032.
Based on consumption, the butyl acrylate market is dominated by the Asia Pacific region. It is expected that this region would continue to dominate the Asia Pacific butyl acrylate market after consuming over 55% of it in 2022. Based on region, APAC is segmented into China, India, South Korea, Japan and Rest of APAC. However, China leads the APAC butyl acrylate market followed by India. Due to the growing use of paints, coatings, sealants, and adhesives in the building and construction sector, China is the largest user of butyl acrylate. The demand for coating will most likely rise as more cars will be produced, propelling the butyl acrylate market over the forecast period. China was found as the top producer of butyl acrylate in the Asia Pacific area based on production capacity.
Based on the end-user industry, the Asia Pacific Butyl Acrylate market is segmented into Acrylate Copolymers, Paints and Coatings, Adhesives and Sealants, and Others. The Acrylate Copolymers industry is dominating the Butyl Acrylate market and is anticipated to grow further in the forecast period. The paints and coatings industry is another big consumer of butyl acylate in the Asia Pacific region. An increase in the need for paints & coatings for a number of applications across many automotive, construction, industrial industries is fueling the need for butyl acylate in the region.
Significant players in the Asia Pacific Butyl Acrylate market are LG Chem Ltd., Guangxi Huayi New Material Co., Bharat Petroleum Corporation Limited, Shanghai Huayi Acrylic Acid Co., Ltd, Zhejiang Satellite Petrochemical Co., Ltd., Jiangsu Sanmu Group, Zhejiang Satellite Petrochemical Co., Ltd, Nippon Shokubai Co., Ltd., Oita Chemical, Mitsubishi Chemical., and Others.
Years considered for this report:
Historical Period: 2015- 2022
Base Year: 2022
Estimated Year: 2023
Forecast Period: 2024-2032
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Objective of the Study:
• To assess the demand-supply scenario of Butyl Acrylate which covers production, demand and supply of Butyl Acrylate market in the APAC.
• To analyse and forecast the market size of Butyl Acrylate
• To classify and forecast Asia Pacific Butyl Acrylate market based on end-use and regional distribution.
• To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., of Butyl Acrylate market in Asia Pacific region .
To extract data for Asia Pacific Butyl Acrylate market, primary research surveys were conducted with Butyl Acrylate manufacturers, suppliers, distributors, wholesalers and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for Asia Pacific Butyl Acrylate market over the coming years.
ChemAnalyst calculated Butyl Acrylate demand in the APAC by analyzing the historical data and demand forecast which was carried out considering the production raw material to produce Butyl Acrylate. ChemAnalyst sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• Butyl Acrylate manufacturers and other stakeholders
• Organizations, forums and alliances related to Butyl Acrylate distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Butyl Acrylate manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, Asia Pacific Butyl Acrylate market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Attribute
Details
Market size Volume in 2022
2100 thousand tonnes
Market size Volume by 2032
3300 thousand tonnes
Growth Rate
CAGR of 4.66% from 2023 to 2032
Base year for estimation
2023
Historical Data
2015 – 2022
Forecast period
2024 – 2032
Quantitative units
Demand in thousand tonnes and CAGR from 2022 to 2032
Report coverage
Industry Market Size, Capacity by Company, Capacity by Location, Operating Efficiency, Production by Company, Demand by End-Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Company Share, Manufacturing Process.
Segments covered
By End-Use: (Acrylate Copolymers, Paints and Coatings, Adhesives and Sealants, and Others)
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Market Data & Insights
Table of Content
1. Industry Market Size
It is an essential metric for market analysis, as it provides insights into the overall size and growth potential of Butyl Acrylate market in terms of value and volume.
2. Capacity By Company
On our online platform, you can stay up to date with essential manufacturers and their current and future operation capacity on a practically real-time basis for Butyl Acrylate.
3. Capacity By Location
To better understand the regional supply of Butyl Acrylate by analyzing its manufacturers' location-based capacity.
4. Plant Operating Efficiency
To determine what percentage manufacturers are operating their plants or how much capacity is being currently used.
5. Production By Company [Quarterly Update]
Study the historical annual production of Butyl Acrylate by the leading players and forecast how it will grow in the coming years.
6. Demand by End- Use [Quarterly Update]
Discover which end-user industry (Acrylate Copolymers, Paints and Coatings, Adhesives and Sealants, and Others) are creating a market and the forecast for the growth of the Butyl Acrylate market.
7. Demand by Region
Analyzing the change in demand of Butyl Acrylate in different regions, i.e., China, India, South Korea, Japan and Rest of APAC, that can direct you in mapping the regional demand.
8. Demand by Sales Channel (Direct and Indirect)
Multiple channels are used to sell Butyl Acrylate. Our sales channel will help in analyzing whether distributors and dealers or direct sales make up most of the industry's sales.
9. Demand-Supply Gap
Determine the supply-demand gap to gain information about the trade surplus or deficiency of Butyl Acrylate.
10. Company Share
Figure out what proportion of the market share of Butyl Acrylate is currently held by leading players across APAC.
11. Manufacturing Process
Discover insights into the intricate manufacturing process of Butyl Acrylate.
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into the worldwide outages affecting the commodity of interest. With every shutdown, it also reflects the impact on
supply of the product in the market at a Global level.
What is the expected Asia Pacific market size of Butyl Acrylate in terms of volume for 2032?
Ans:
The Asia Pacific market size of Butyl Acrylate is expected to reach approximately 3300 thousand tonnes by 2032, and it is expected to further expand with a CAGR of 4.66%.
Q2.
What are the major end-use industries of Butyl Acrylate?
Ans:
Butyl Acrylate is used in various end use industries Acrylate Copolymers, Paints and Coatings, Adhesives and Sealants.
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