Report : Europe Butyl Acrylate Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Application (Paints and Coatings, Adhesives and Sealants, Chemical Synthesis, Plastic Additives, Textile, and Others)
The Paints and Coatings Segment to Dominate Europe Butyl Acrylate Market during 2021-2028
According to a new market research study on “Europe Butyl Acrylate Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast – by Application and Country,” is expected to reach US$ 1,062.06 million by 2028 from US$ 784.20 million in 2021. The market is estimated to grow at a CAGR of 4.4% from 2021 to 2028. The report provides trends prevailing in the Europe butyl acrylate market along with the drivers and restraints pertaining to the market growth. Development in the construction sector and incrementing demand for coatings from automotive industry are major factors driving the growth of the Europe butyl acrylate market. However, various regulations along with harmful health hazards may hinder the growth of Europe butyl acrylate market.
Many major European countries are expected to suffer economic losses due to the lack of revenue from various industries. The construction industry across Europe has been severely impacted by the COVID-19 pandemic, owing to the pause on ongoing, nonessential construction activities and reduction in new projects. This has hampered the demand for butyl acrylate in Europe. However, the rapid pace of vaccination in European countries is likely to fade these effects in the coming years, leading to favorable conditions for the growth of the butyl acrylate market across the region.
The market for Europe butyl acrylate is segmented into application and country. Based on application, the market is segmented into paints and coatings, adhesives & sealants, chemical synthesis, plastic additives, textile, and others. In 2020, the paints and coatings segment held the largest share in Europe butyl acrylate market. Based on country, the Europe butyl acrylate market is segmented into Germany, France, Italy, UK, Russia and rest of Europe. In 2020, Germany held the largest share in Europe butyl acrylate market. Furthermore, in this present scenario of COVID 19 pandemic, the Europe butyl acrylate market has been facing difficulties and several countries have suffered heavily. The manufacturing sectors in the Europe countries have been experiencing low production and a weak supply chain. Thereby, impacting the market for butyl acrylate.
Wanhua Chemical Group Co.Ltd., Exxon Mobil Chemicals, Arkema S.A., Oswal Udhyog, Nippon Shokubai Co. Ltd., LyondelBasell Industries Holdings B.V., Sasol, Mitsubishi Chemical Corporation, Indenta Chemicals Pvt. Ltd., and TCI Chemicals Pvt. Ltd are some of the leading companies in the Europe butyl acrylate market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market.
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