Report : South and Central America 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 South and Central America Butyl Acrylate Market during 2021-2028
According to a new market research study on “South and Central America Butyl Acrylate Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast – by Application and Country,” is expected to reach US$ 120.21 million by 2028 from US$ 94.29 million in 2021. The market is estimated to grow at a CAGR of 3.5% from 2021 to 2028. The report provides trends prevailing in the South and Central America butyl acrylate market along with the drivers and restraints pertaining to the market growth. Expanding construction sector and rising demand for coatings from automotive industry are major factors driving the growth of the South and Central America butyl acrylate market. However, side effects on health and regulations may hinder the growth of South and Central America butyl acrylate market.
In South America, Brazil has reported the highest number of COVID-19 cases, followed by Argentina, Peru, Chile, and Ecuador. Governments across the region have implemented several preventive measures to protect their residents and limit the spread of SARS-CoV-2. South American countries have been experiencing lower export revenues due to a fall in commodity prices and export volumes, particularly involving trade relationships with China, Europe, and the US. Limitations on trade activities have adversely affected the demand for butyl acrylate from paints and coatings producing industries across the region.
The market for South and Central America 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 South and Central America butyl acrylate market. Based on country, the South and Central America butyl acrylate market is segmented into Brazil, Argentina and rest of South and Central America. In 2020, Brazil held the largest share in South and Central America butyl acrylate market. Furthermore, in this present scenario of COVID 19 pandemic, the South and Central America butyl acrylate market has been facing difficulties and several countries have suffered heavily. The manufacturing sectors in the South and Central America 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 South and Central America 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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