Market Introduction
The North America butyl acrylate market is a highly fragmented market with the presence of considerable regional and local players providing numerous solutions for companies investing in the market arena. Butyl acrylates are a source of volatile organic compounds. Major manufacturers in the industry are increasingly focusing on developing bio-based products, which have a smaller overall impact on the environment. The manufacturers are under constant pressure to develop sustainable products, which can reduce their carbon footprint on the environment. There are numerous factors driving the adoption of bio-based products among manufacturers, including consumer demand, waste reduction, and government regulations. Companies are focusing on using bio-based materials to meet their sustainability goals. Bio-based butyl acrylate is still in the developing stage, and only a handful of companies are manufacturing it, as its chemical properties are still far lesser than butyl acrylate. However, companies are in the process of developing it, which is expected to be a major trend during the forecast period.
The COVID-19 pandemic has drastically altered the status of the chemicals & materials industry. The implementation of measures to combat the spread of the novel coronavirus aggravated the situations and harmed developments in several industries. The sudden lockdown of national and international boundaries led to disturbances in operational efficiencies and disruptions in value chains in industries such as building and construction and automotive. Emergency construction comprises projects that protect the health and safety of occupants or projects that can be unsafe if they remain unfinished. The consequences of the pandemic also disrupted product orders and deliveries, along with increasing the cases of cancellations and order backlogs. The significant decline in the growth of industries such as construction, automotive, and textile reduced the demand for butyl acrylate in North America. The temporary suspension of manufacturing activities also impacted butyl acrylate production in North America. The rising demand for modular buildings due to increased COVID-19 cases and the need for healthcare and quarantine buildings/units positively impacted the North America butyl acrylate market growth, and the demand for butyl acrylate is expected to rise in the coming years.
Market Overview and Dynamics
The butyl acrylate market in North America is expected to grow from US$ 696.74 million in 2021 to US$ 954.94 million by 2028; it is estimated to grow at a CAGR of 4.6% from 2021 to 2028. The automotive industry has witnessed substantial growth in sales in the past decade, and it is expected to grow substantially during the forecast period. Increasing income levels and declining prices of automobiles are the primary factors driving the demand for automobiles in North America. Further, the rise in the young population will drive the demand for automobiles in North America. Moreover, numerous government bodies are in the process of scrapping older vehicles at a given tax incentive which will boost the sales of newer vehicles in the market. The automotive sector is highly competitive, and companies operating in the industry are adopting numerous marketing strategies to boost sales. Numerous companies are investing heavily in the automobile manufacturing sector to increase production and eventually sales for the company. The facility is expected to manufacture approximately 1 million units annually. An increase in the manufacturing of automobiles will fuel the demand for coating, thereby driving the butyl acrylate market during the forecast period.
Key Market Segments
Based on application, the paints and coatings segment accounted for the largest share of the North America butyl acrylate market in 2020.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the North America butyl acrylate market are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report 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.
Reasons to buy report
North America Butyl Acrylate Market Segmentation
North America Butyl Acrylate Market – By Application
North America Butyl Acrylate Market – By Country
North America Butyl Acrylate Market – Company Profiles
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 696.74 Million |
| Market Size by 2028 | US$ 954.94 Million |
| CAGR (2021 - 2028) | 4.6% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Application
|
| Regions and Countries Covered |
North America
|
| Market leaders and key company profiles |
|
The North America Butyl Acrylate Market is valued at US$ 696.74 Million in 2021, it is projected to reach US$ 954.94 Million by 2028.
As per our report North America Butyl Acrylate Market, the market size is valued at US$ 696.74 Million in 2021, projecting it to reach US$ 954.94 Million by 2028. This translates to a CAGR of approximately 4.6% during the forecast period.
The North America Butyl Acrylate Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the North America Butyl Acrylate Market report:
The North America Butyl Acrylate Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The North America Butyl Acrylate Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the North America Butyl Acrylate Market value chain can benefit from the information contained in a comprehensive market report.
Please tell us your area of interest
(Market Segments/ Regions and Countries/ Companies)
E 1803, Panchshil Towers,
Wagholi, Haveli,
Pune - 412207,
Maharashtra, India
US:+16467917070
sales@businessmarketinsights.com
Get Free Sample For North America Butyl Acrylate Market
