International. The acrylate market was valued at US$6.86 million in 2016 and is projected to reach US$9.88 million by 2022, at a CAGR of 6.3% from 2017 to 2022. The increasing demand for acrylate in paints and coatings, adhesives, and the preference for water-based emulsions in these applications is driving the acrylate market.
In 2016, butyl acrylate had the highest demand in the acrylate market due to its application in the production of acrylic polymers, polyethylene (PE), textiles, papers, paints, inks and adhesives. The greatest demand for butyl acrylate is from coatings, adhesives, textiles and other applications such as polishing, printing and dyeing, among others.
Among the types, the paints and coatings segment is anticipated to grow at the highest CAGR during the forecast period.
Paints and coatings are the largest and fastest growing application of acrylate. Changing lifestyles, evolving infrastructure and rising disposable income have led to an increase in renovation activities and construction projects, which have driven growth in this app. In addition, the rise of the automotive industry and increasing industrialization in emerging countries have also driven growth in the paints and coatings market.
