July 30, 2019
Global polyacrylate market is projected to reach a valuation of $2.14 billion by the end of 2026, according to the latest research available at Market Study Report LLC, report provides extensively data on market share, growth, trends and forecasts for the period 2018-2026.
For the uninitiated, polyacrylate is a widely used polymers for several end-use products. The worldwide polyacrylate market is largely fueled by the immense growth of paints & coatings, textiles, and adhesives markets. This material finds uses in a range of applications due to its excellent characteristics.
In the rapidly emerging paints & coatings market, polyacrylates are utilized in powder coatings commonly applied to automotive parts and appliances, water-based coatings for end-use in the architecture & protective segment, and solvent-borne coatings used on substrates in construction structures & corrosive environment.
As per the report, a steady rise in the global population together with the growing disposable incomes has helped flourish several end-use industries, thereby presenting numerous growth opportunities to the polyacrylate market. Growing construction activities across many nations, particularly the emerging economies along with the refurbishment of older structures paired with increasing consumer demand for feature-rich coatings are some of the major factors propelling the demand for polyacrylates within the end-use industry.
Numerous types of polyacrylates are utilized in various end-use products. For example, sodium polyacrylate is excessively used to make baby diapers, textiles, and personal care products. Although these polymers are not technically advanced, they continue to find extensive use due to their availability, efficacy, and low-cost features. Polyacrylates have a nominal environmental impact while its alternatives include a critical drawback, which will also favor the polyacrylate market share in the future.
In terms of geographical growth, Asia Pacific is the leading regional contender in global polyacrylate market, driven by high consumption nations such as India, China, and Japan. Other emerging nations like Thailand, Indonesia, and Vietnam have also observed growth across end-use industries like paints & coatings due to the growing construction activities, which has further proliferated polyacrylates market growth, cites the report.
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The major limitation faced by polyacrylate market is the threat of alternatives. Polyacrylate has several other resin alternatives that can be used for manufacturing paint & coatings and dispersants. Additionally, technical advancement in material science of the substitutes is also anticipated to pose threat for the industry. Some of the substitute resins are alkyd resins, epoxy, and polyurethane.
The competitive landscape of the polyacrylate market is made up of several multinational and local industry players. Some of the major market players include Arkema, BASF SE, Lucite International, Evonik Industries AG, DowDupont, LG Chem Ltd., Sanyo Chemical, Kao Corporation, and RSD Polymers Pvt Ltd. These companies launch innovative solutions and often join forces with other market leaders to innovate new products that meet the rising end-user demands, thereby augmenting the polyacrylate market size.