How is Expanding Construction Industry Driving Acrylates Market?

The burgeoning requirement for paints and coatings in the construction industry is one of the major factors fueling the demand for acrylates across the world. Moreover, because of this reason, the boom in the global construction industry, on account of the surging population levels and the increasing urbanization rate, is causing a massive rise in the sales of acrylates across the world. Many countries are making huge investments in infrastructural development projects.

As per the estimates of P&S Intelligence, a market research company based in India, the valuation of the acrylates market will grow from $10,949.9 million in 2018 to more than $12,593.8 million by 2024. Furthermore, the market is predicted to advance at a CAGR of 4.9% from 2019 to 2024. Butyl Acrylate, 2-ethylhexyl acrylate, ethyl acrylate, and methyl acrylate are the most widely used types of acrylates all over the world. 

Out of these, the demand for butyl acrylate will rise rapidly in the forthcoming years. This will be because this compound is used as a primary ingredient in the production of vinyl acrylic, styrene acrylic, and all-acrylic copolymers. Adhesives and sealants, paints and coatings, textile chemicals, leather chemicals, and acrylic fibers are the major application areas of acrylates. Amongst these, the usage of acrylates was found to be the highest in paints and coatings during the last few years.

Additionally, water-based paints are highly durable and stable in extreme temperature conditions. Across the globe, the demand for acrylates is predicted to shoot up in the Asia-Pacific region in the future years. This will be because of the soaring population levels, the increasing urbanization rate, and the surging disposable income of the people residing in this region. Moreover, the mushrooming requirement for paints and coatings is massively boosting the demand for acrylates in this region.

Hence, it is safe to say that the demand for acrylates will skyrocket all over the world in the coming years, primarily because of the expansion of the construction industry and the surging requirement for acrylic esters in adhesives and sealants.

Source: www.psmarketresearch.com

Comments

Post a Comment

Popular posts from this blog

Why Oxygen-Free Copper Market Opportunities Galore in APAC?

Image
 The major factors in the global oxygen-free copper market are skyrocketing demand for oxygen-free copper wires in the electronics & electrical industry and electric vehicles (EVs). This surging demand is owing to their ease of welding, renowned creep resistance, high impact strength, high thermal and electrical conductivity, and high ductility. The market is predicted to grow significantly in the coming years. The outbreak of COVID-19 had disrupted the entire circular economy, significantly reducing this market’s sales because of the ruptured logistical network, shutdown of electronic & electrical product factories, and reduced EV production. Within the grade system, the oxygen-free copper market can be bifurcated into oxygen-free electronic and oxygen-free categories. The latter bifurcation generated higher revenue in the market in the past, not only in terms of value but also in terms of volume. The category will continue to exhibit this trend in the coming years as well. T
Read more

How Will Rapid Industrialization Drive Hydraulic Equipment Demand?

Image
The Government of India completed the construction of 2,734 projects under the Smart City Mission till 2021. The government is currently working on the construction of 100 smart cities, 6 new ports and 14 coastal economic zones (CEZs). Likewise, Infrastructure Australia (IA) approved the construction of 44 new infrastructure projects in February 2021. The rising construction activities, on account of the booming population and mounting investments being made in the construction sector, will propel the need for hydraulic equipment in the coming years. Additionally, the rapid industrialization in developing countries will drive the hydraulic equipment market growth during 2021–2030. According to P&S Intelligence, the market generated a revenue of $37 billion in 2020. For instance, the United Nations Industrial Development Organization (UNIDO) aims to offer institutional support to special economic zones (SEZs) and industrial and technology parks in Brazil. The UNIDO will help Brazil
Read more

Sales of Hexamine Set to Shoot Up in Coming Years

Image
The mushrooming usage of hexamine in several industries such as rubber, pharmaceutical, explosives, and fuels is a major factor responsible for its soaring sales across the world. Moreover, the booming population in several countries is pushing up the demand for medical and pharmaceutical products. This is due to the fact that the surging population is causing poverty, which is, in turn, propelling the incidence of various diseases such as neurological disorders and urinary tract infections. Apart from the aforementioned factors, the rising requirement for hexamine in the plastic industry is also contributing toward the surging sales of the material throughout the world. It is used in plastic synthesis and heavily required in the packaging and construction industries, on account of these industries being prominent end users of plastics. With the surging population level, the number of construction and infrastructural development projects is increasing rapidly in many countries around t
Read more