LONDON--(BUSINESS WIRE)--Technavio’s latest market research report on the global acrylate monomers market provides an analysis of the most important trends expected to impact the market outlook from 2018-2022. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
According to Technavio analysts, the global acrylate monomers market will grow at a CAGR of close to 6% during the forecast period. The wide application of acrylate monomers in the paints and coatings industry is a major factor driving the market’s growth.
The demand for acrylate monomers in the paints and coatings industry is increasing due to the technological advances in the production process and selection of high-quality raw materials for manufacturing acrylate coatings. Acrylics are widely used as acrylic solution polymers and acrylic emulsions. Acrylate monomers are popularly used as binding agents due to their properties such as color stability, transparency, and weather resistance.
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In this report, Technavio highlights the rising demand for water-based acrylate coatings as one of the key emerging trends driving the global acrylate monomers market:
Rising demand for water-based acrylate coatings
The increasing awareness about the harmful effects of synthetic or solvent-based coatings on health and environment has augmented the demand for water-based coatings. The most popular paints and coatings are water-based acrylic coatings, which are used in various end-user segments. Environmental concerns regarding the impact of VOCs on air quality have led to the substitution of solvent coatings with water-based coatings. Water-based acrylate copolymers used in coatings offer excellent scrub and stain-resistance, superior pigment wetting, tack-free ability, and superior water barrier properties.
“There has been an increase in demand for water-based coatings due to factors such as the rising middle-class population, increasing health concerns, and technological advances. Water-based acrylates are used for the development of acrylic resins as they inculcate properties such as resistance to chemicals, water, and corrosion and enhance cohesion. The increasing demand for water-based acrylate coatings is expected to have a positive influence on the global acrylate monomers market during the forecast period,” says a senior analyst at Technavio for research on plastics, polymers, and elastomers.
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Global acrylate monomers market segmentation
This market research report segments the global acrylate monomers market into the following applications (paints and coatings, adhesives and sealants, plastics, and printing inks) and key regions (the Americas, APAC, and EMEA).
The paints and coatings segment held the largest market share in 2017, accounting for nearly 44% of the market. The market share for this application is expected to increase by 2022.
APAC was the leading region for the global acrylate monomers market in 2017, accounting for a market share of nearly 42%. By 2022, APAC is expected to continue dominating the market and register the highest growth in terms of market share.
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