The Ethylene Methyl Acrylate Market size is estimated to grow at a CAGR of 5.9% during the forecast period 2022-2027 and reach US$11.3 billion by 2027. The growth of the ethylene methyl acrylate market is primarily dependent on the growth of the paints & coating sector. Ethylene methyl acrylate copolymers can be processed using various methods such as extrusion coating lamination, blown/cast monolayer and coextruded films, injection molding, sheet or profile extrusion, blow molding and foam extrusion. Ethylene methyl acrylate is mainly used in the production of paints and coating, owing to its excellent thermal stability, toughness, flexibility and adhesion across a range of temperatures. The surging developments associated with the paints & coating sector across the world have led to considerable growth in the Ethylene Methyl Acrylate market.

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Ethylene Methyl Acrylate Market: The Paints & Coating Segment Leads the Market

On the basis of end-use industry, the Ethylene Methyl Acrylate Market can be segmented into paints & coating, automotive, packaging, textile and others. The paints & coating sector is evaluated to be the leading segment in the ethylene methyl acrylate market in 2021. During the forecast period 2021-2027, the paints & coating segment is expected to grow at a CAGR of 6.2%. This can be attributed to various reasons such as the increasing demand and production of paints & coating across the world. According to Nippon Paints Holding Co., Ltd, the demand for paints & coating in American regions is expected to reach up to US$34,158 million by 2024 from US$28,420 million in 2019, representing a significant increase of around 20.2% from 2019 to 2024. Meanwhile, the demand for paints & coating in Europe is estimated to reach US$39,516 million in 2024 from US$35,909 in 2019.

Ethylene Methyl Acrylate Market: Asia-Pacific Holds the Largest Market Share

On the basis of geography, the Ethylene Methyl Acrylate Market can be segmented into North America, South America, Europe, APAC and EMEA. According to IndustryARC’s analysis, Asia-Pacific has emerged as the most dominant region in the market. In 2021, the Asia-Pacific region held over 35% share of the total revenue earned by the market globally. Asia-Pacific countries including China and India are comparatively ahead in terms of the growth of the paints & coating industry. According to Paint India, the paints & coating industry in India was valued at US$8 billion in 2021. Also, the Indian paints & coating industry has witnessed consistent growth over the last decade. Moreover, recent insights from Nippon Paints Holding state that the demand for paints & coating in China is expected to reach up to US$60,514 million by 2024, depicting an increase of around 29.6% from US$46,694 million in 2019. The Ethylene Methyl Acrylate market would also witness significant growth in the North American region. The U.S. and Canada are emerging as competitive countries in the Ethylene Methyl Acrylate market.

Ethylene Methyl Acrylate Market: Competitive Landscape.

Key companies holding major shares in the Ethylene Methyl Acrylate Market are Asahi Kasei Corp, ExxonMobil, Chi Mei Corp, China National Petroleum Corporation, Dynasol Elastomers, En Chuan Chemical, Firestone Polymers LLC, INEOS Styrolution Group GmbH, Kraton Performance Polymers and LCY Chemical Corp.

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