The market for acrylate oligomers is anticipated to grow at a compound annual growth rate (CAGR) of 5.6% from its estimated valuation of USD 2.35 billion in 2023 to USD 4.05 billion by 2033. Because acrylate oligomer replaces traditional polymers in the paints and coatings and adhesives and sealants industries, there is expected to be a rise in sales of this product. The growing consumer preference for eco-friendly and bio-based products also helps the market.
The paints & coatings industry, fueled by construction activities and the demand for decorative paints, constitutes the largest end-use segment for acrylate oligomers. Similarly, the adhesives & sealants industry, particularly driven by the packaging sector, is the second-largest end-use segment, contributing to the market’s growth.
An essential growth driver for market is the rising adoption of acrylate oligomers as replacements for traditional polymers across various applications. Their outstanding properties, including high transparency, flexibility, and toughness, make them well-suited substitutes for polymers like polystyrene and polyvinyl chloride in industries like packaging, toys, and electronics. Furthermore, the market is propelled by the increasing demand for eco-friendly and bio-based products.
Heightened regulations on hazardous chemicals usage and growing environmental awareness contribute significantly to the rising demand for environmentally friendly and bio-based products in the market. Technological advancements, including the introduction of innovative cutting techniques and the utilization of biobased materials, have the potential to revolutionize the market. To maintain a competitive edge, continuous innovation and technological upgrades are crucial.
Acrylate oligomer manufacturers can expect promising growth opportunities in the upcoming decade, primarily driven by the advancing automotive and electronics industries. The exceptional properties of acrylate oligomers, especially their ability to create robust coatings and adhesives, make them an ideal choice for the automotive sector, where strong bonding properties are essential to withstand challenging environmental conditions. As new advanced acrylate oligomers enter the market, they are anticipated to further enhance and expand the global acrylate oligomer market in the near future.
Key Takeaways
- The market in Asia Pacific is expected to expand at a CAGR of 5.8% during the forecast period.
- The demand for acrylate oligomer in Europe is expected to expand at a CAGR of 5.5% during the forecast period.
- Asia Pacific is expected to dominate the market by commanding over 38.8% market share in 2023.
“A surge in construction activities and expected advancements in the automotive industry are projected to drive market growth over the forecast period,” comments an FMI analyst
Competitive Landscape
The global acrylate oligomer market is intensely competitive due to the significant presence of domestic and regional players. To leverage emerging opportunities, leading acrylate oligomer manufacturers are adopting diverse strategies, including new product launches, partnerships, acquisitions, mergers, and establishing new manufacturing facilities in lucrative regions.
Key Companies Profiled
- Arkema SA
- BASF SE
- Covestro AG
- Royal DSM
- Hitachi Chemical Company Ltd.
- Nippon Gohsei
- Lambson Limited
- Allnex Group
- Jiangsu Sanmu Group Corporation
- Toagosei Co. Ltd.
- IGM Resins B.V.
- Alberdingk Boley GmbH
- Miwon Specialty Chemical Co. Ltd.
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Key Segments Profiled in the Acrylate Oligomer Industry Survey
By Type:
- Urethane
- Polyester
- Laminated
- Epoxy
- Others
By End Use Industry:
- Automotive & Transportation
- Chemicals & Plastics
- Buildings and Construction
- Paint & Coatings and Adhesives
- Other Industries
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia and Pacific
- East Asia
- Middle East and Africa
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