Properties associated with acrylate monomers such as UV resistance, glossy structure, chemical and moisture resistance, and durability is expected to accelerate the growth rate of acrylate monomer market across the forecast period of 2019-2029. Applications across various industries such as printing inks, adhesives and sealants, paints, coatings, caulks, textiles, paper finishes, and polymers are also vital components for the growth of acrylate monomer market. On the basis of type, the acrylate monomer market can be segmented into methacrylates, methyl acrylate monomer, TMPTA, butyl acrylate monomer, and 2-ethyl hexyl acrylate monomer.
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The acrylate monomer market gains largely from the construction sector. Due to increasing urbanization, there has been a significant rise in construction activities across the globe. With this rise, the demand for paints and coatings has also increased. This eventually serves as a growth multiplier for the acrylate monomer market. Rapid industrialization boom has also increased the demand for industrial coatings. Therefore, this aspect assists in the growth of the acrylate monomer market. The toxicity content may cause a hindrance to the growth of the acrylate monomer market.
Asia Pacific May Observe Exponential Growth
The acrylate monomer market is regionally spread across North America, the Middle East and Africa, South America, Asia Pacific, and Europe. The rapid industrialization drives undertaken by India and China make the Asia Pacific region a breeding ground for the growth of the acrylate monomer market. Other factors such as speedy urbanization in certain regions may also influence the growth rate of the region.
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Furthermore, steady growth can be predicted in developed regions such as Europe and North America due to the rising demand for paintings and coatings. Urbanization is gathering considerable momentum in the Middle East and Africa region. Therefore, the Middle East and Africa seem to be promising regarding the growth of the acrylate monomer market.