Report : Middle East and Africa 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 Middle East and Africa Butyl Acrylate Market during 2021-2028
According to a new market research study on “Middle East and Africa Butyl Acrylate Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast – by Application and Country,” is expected to reach US$ 99.16 million by 2028 from US$ 76.11 million in 2021. The market is estimated to grow at a CAGR of 3.9% from 2021 to 2028. The report provides trends prevailing in the Middle East and Africa butyl acrylate market along with the drivers and restraints pertaining to the market growth. development of the construction sector and incrementing demand for coatings from automotive industry are major factors driving the growth of the Middle East and Africa butyl acrylate market. However, health hazard and regulations may hinder the growth of Middle East and Africa butyl acrylate market.
Various chemicals & materials companies were closed during the lockdown periods, resulting in low production and sales of butyl acrylate and other products. A slowdown in demand from the paints and coatings industries is negatively impacting the market growth across the Middle East & Africa. However, the implementation of effective government policies in countries such as the UAE has significantly helped revive the industrial sector across the region, which is projected to favor the growth of the butyl acrylate market in the coming years.
The market for Middle East and Africa 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 Middle East and Africa butyl acrylate market. Based on country, the Middle East and Africa butyl acrylate market is segmented into South Africa, Saudi Arabia, UAE and rest of Middle East and Africa. In 2020, rest of Middle East and Africa held the largest share in Middle East and Africa butyl acrylate market. Furthermore, in this present scenario of COVID 19 pandemic, the Middle East and Africa butyl acrylate market has been facing difficulties and several countries have suffered heavily. The manufacturing sectors in the Middle East and Africa 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 Middle East and Africa 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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