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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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
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.
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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