Market Introduction
The South and Central 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.
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.
Market Overview and Dynamics
The butyl acrylate market in South and Central America is expected to grow from US$ 94.29 million in 2021 to US$ 120.21 million by 2028; it is estimated to grow at a CAGR of 3.5% from 2021 to 2028. Road surface markings are essential to control and guide traffic. They are primarily used in relaying essential information to drivers; hence, they play an important role in road safety systems. Developing countries in South America are continuously developing their road infrastructure. For instance, a major portion of the South African roadways is unpaved, which is primarily due to the lack of adequate funds to construct good highways. The Argentinean economy has witnessed substantial downturns in the last ten years, and the country's government is under substantial debt limiting their investments in infrastructure. However, the government in the country is working on the facilitation of public-private partnership agreements to develop the road infrastructure in the country. Such developments will be a significant opportunity for paint and coatings manufacturers, including butyl acrylate producers.
Key Market Segments
Based on application, the paints and coatings segment accounted for the largest share of the South and Central 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 South and Central 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
South and Central America Butyl Acrylate Market Segmentation
South and Central America Butyl Acrylate Market – By Application
South and Central America Butyl Acrylate Market – By Country
South and Central America Butyl Acrylate Market – Company Profiles
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 94.29 Million |
| Market Size by 2028 | US$ 120.21 Million |
| CAGR (2021 - 2028) | 3.5% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Application
|
| Regions and Countries Covered |
South and Central America
|
| Market leaders and key company profiles |
|
The South and Central America Butyl Acrylate Market is valued at US$ 94.29 Million in 2021, it is projected to reach US$ 120.21 Million by 2028.
As per our report South and Central America Butyl Acrylate Market, the market size is valued at US$ 94.29 Million in 2021, projecting it to reach US$ 120.21 Million by 2028. This translates to a CAGR of approximately 3.5% during the forecast period.
The South and Central 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 South and Central America Butyl Acrylate Market report:
The South and Central America Butyl Acrylate Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The South and Central America Butyl Acrylate Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the South and Central America Butyl Acrylate Market value chain can benefit from the information contained in a comprehensive market report.
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