[Online Quarterly Update] India Acrylate Ester market demand stood at 0.26 Million Tonnes in FY2021 and is forecast to reach 0.46 Million Tonnes by FY2030, growing at a healthy CAGR of 6.51% until 2030. Increasing use of Acrylate Ester in the paints & coatings industry, textiles, plastics, and adhesives backed by increasing construction activities in India is expected to spur the demand for Acrylate Ester. India’s construction industry is expected to expand over the forecast period driven by the government’s efforts to develop the country’s infrastructure and improve the housing sector. Increasing demand for Acrylates from the paints and coatings industry and adhesive industry due to improved characteristics such as heat and aging resistance, less toxicity, color stability, and low-temperature flexibility is expected to drive its adoption in various end-user industries. Acrylates are also used as precursors for industrial polymers and have great stability at transition temperature in comparison to normal polymers, which show transition at glass temperature and lose their property, while Acrylates remain stable.
Due to the outbreak of COVID-19 in FY2020, the world economy was disrupted. The market was affected drastically, and production and manufacturing units were shut down. Furthermore, the major market players intentionally halted the production keeping their employee’s health and wellness in mind. With imposed new regulations of the COVID-19 and proper precautions, the market is anticipated to regain its growth in the years to come. The pandemic is slowly being subsided and the effects are tried to be overcome by various methods. Once the market regains the full function of its production unit, the market is bound to show robust growth in the forecast period.
India’s domestic Acrylate’s demand is majorly met through imports with no domestic manufacturers currently operating in the country. However, surplus Butyl Acrylate capacities in China are strongly satisfying the country’s Acrylic Ester demand. As a result, there is immense scope for Acrylate Ester manufacturers to set up a plant in India to reduce import dependency in the paint industry. With rapid industrialization and developing infrastructure in the Asia-Pacific region, especially in China and India, the paints and coating sector is likely to prosper over the coming years, thereby triggering growth in the APAC Acrylate Ester market.
Major international players exporting Acrylate Ester to the Indian market are BASF SE, The Dow Chemical Company, Arkema SA, Nippon Shokubai Co., Ltd, Saudi Acrylic Monomer Company Limited, Mitsubishi Chemical Corporation, Hitachi Chemical Co., Ltd, Formosa Petrochemical Corporation, etc.
Years Considered for this Report:
Historical Years: FY2015 – FY2020
Base Year: FY2021
Estimated Year: FY2022
Forecast Period: FY2023– FY2030
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Objective of the Study:
• The primary objective of the study was to evaluate and forecast Acrylate Ester capacity, production, demand, inventory, and demand–supply gap in India.
• To categorize Acrylate Ester demand based on end-use, region, and sales channel.
• To study trade dynamics and company share in the India Acrylate Ester market.
• To identify major customers of Acrylate Ester in India.
• To identify and profile major companies operating in the India Acrylate Ester market.
• To identify major news, deals, and expansion plans in the India Acrylate Ester market.
To extract data for the India Acrylate Ester market, primary research surveys were conducted with Acrylate Ester manufacturers, suppliers, distributors, wholesalers, and end-users. 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 end user segments and projected a positive outlook for the India Acrylate Ester market over the coming years.
ChemAnalyst calculated Acrylate Ester demand in India by analyzing the historical data and demand forecast was carried out considering crude oil prices. ChemAnalyst sourced these values from industry experts and company representatives and externally validated them 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:
• Acrylate Ester manufacturers, suppliers, and other stakeholders
• Organizations, forums, and alliances related to Acrylate Ester distribution
• Government bodies such as regulating authorities and policymakers
• Market research and consulting firms
The study is useful in providing answers to several critical questions that are important for industry stakeholders, such as Acrylate Ester manufacturers, distributors, and policymakers. The report also provides useful insights about which market segments should be targeted over the coming years to strategize investments and capitalize on growth opportunities.
Report Scope:
In this report, the India Acrylate Ester market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:
Market, by Type
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Methyl Acrylate, Butyl Acrylate, Ethyl Acrylate and Others
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Market, by End Use
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Paints & Coatings, Adhesives and Sealants, Textiles and Others
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Market, by Application
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Additives, Binders, Surfactants etc.
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Market, by Sales Channel
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Direct/Institutional Sales, Retail Sales, Other Channel Sales
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Market, by Region
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North, East, West and South
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Available Customizations:
With the given market data, ChemAnalyst offers customizations according to a company’s specific needs.
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