Polyacrylate Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The Polyacrylate Market is segmented by Application (Adhesives, Paints and Coatings, Dispersants, and Other Applications) and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa).

Market Snapshot

Polyacrylate Market Overview
Study Period: 2016 - 2026
Base Year: 2020
Fastest Growing Market: Asia Pacific
Largest Market: Asia Pacific
CAGR: >4 %
Polyacrylate Market Key Players

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Market Overview

The polyacrylate market is projected to register a CAGR of over 4% during the forecast period (2021-2026).

The market was negatively impacted by COVID-19 in 2020. Polyacrylate is used as a thickening agent in paints, coatings, and adhesives to change the rheological properties of the respective material. Considering the pandemic scenario, the construction activities were stopped during the COVID-19 lockdown, thus decreasing the consumption of paints, coatings, and adhesives, which negatively impacts the demand for thickeners and polyacrylate.

  • Over the short term, the increasing demand for paints and coatings from the construction sector is expected to drive the market's growth.
  • On the flip side, the availability of biodegradable alternatives like thermal poly aspartate is likely to hinder the market's growth.
  • The Asia-Pacific region is expected to dominate the market and is also likely to witness the highest CAGR during the forecast period.

Scope of the Report

Polyacrylate is a polymer material with notable clarity and flexibility, and its glass transition temperature lies below room temperature. Major acrylic polymers include polymethyl acrylate and polyethyl acrylate, which can be produced by the polymerization of acrylic esters. Polyacrylates are mainly used as a thickening agent in paints, adhesives, and coatings. The polyacrylate market is segmented by application and geography. By application, the market is segmented into adhesives, paints and coatings, dispersants, and other applications. The report also covers the market size of and forecasts for the polyacrylate market in 15 countries across major regions. For each segment, the market sizing and forecasts have been done on the basis of revenue (USD million).

Application
Adhesives
Paints and Coatings
Dispersants
Other Applications
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
United Kingdom
France
Germany
Italy
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
South Africa
Saudi Arabia
Rest of Middle-East and Africa

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Key Market Trends

Soaring Demand from the Paints and Coatings Segment

  • The paints and coatings segment is the major consumer of the polyacrylate market. The increasing construction activities across the world are boosting the demand for polyacrylate in the coatings sector.
  • The increasing middle-class population, coupled with their increasing disposable income, has facilitated the expansion in the middle-class housing segment, thereby driving the residential construction.
  • In 2019, the total value of new construction put in place was about USD 1365 billion in the United States and reached about USD 1430 billion in 2020, with a growth rate of about 4.5%, which, in turn, increases the consumption of polyacrylate.
  • According to Eurostat, the construction production of EU-27 member countries increased by 22.1% in May 2020 compared to the previous month, considering the unprecedented decline in months of March and April due to the COVID-19 impact. Furthermore, the construction production decreased by 3.3% in December 2020 compared to November month.
  • The United Kingdom monthly construction output was decreased by 2.9% in December 2020 compared with the previous month, decreasing to about USD 18.76 billion, registering a first monthly decline in growth since the unprecedented fall of 40.7% in April 2020, which in turn likely to impact the market demand for polyacrylate in the near future.
  • The Asia-Pacific region is expected to witness the highest growth in new residential construction projects due to the expanding housing construction market in developing countries, like China, India, and ASEAN countries.
  • In North America and Europe, with the increase in the government regulations related to VOC emissions, there has been an increase in water-borne coatings from the past few years due to their zero/low solvent content coupled with desired characteristics.
  • Therefore, the aforementioned factors are expected to show a significant impact on the market in the coming years.
Polyacrylate Market Revenue Share

Asia-Pacific Region to Dominate the Market

  • The Asia-Pacific region dominated the market during the forecast period primarily due to the rising construction sector.
  • China, India, and Japan are the major contributors to the increasing demand for polyacrylates across the region as well as the globe.
  • According to deliberations on the 14th five-year plan (2021-26), China has intended to increase the permanent urban residents to 65% by 2025, with no specific GDP growth target set for the period under this plan.
  • China was leading in the construction industry with market size of USD 1092.9 billion in the year 2019, registering a growth rate of 14.71% compared to the previous year, thus increasing the demand for polyacrylate used in the construction industry material such as coatings and adhesives.
  • Also, the Indian government has been actively boosting housing construction, as it aims to provide a home to about 1.3 billion people. The country is likely to witness around USD 1.3 trillion of investment in housing over the next seven years and is likely to witness the construction of 60 million new homes in the country. The availability of affordable housing in the country is expected to rise by around 70% by 2024.
  • In Japan, in 2019, a sudden rise in residential construction and projects related to the Tokyo Olympics 2020 prompted the construction industry's growth. However, with the outbreak of coronavirus, the Tokyo Olympics is further postponed to 2021.
  • The total new construction in Japan was accounted for about 127.55 million square meters in 2019 and reached about 113.74 million square meters in 2020, with a decline rate of about 10.5%, thus led to a decrease in consumption of polyacrylate from the construction segment used in products such as paints, coatings, and adhesives.
  • Therefore, the aforementioned factors are expected to show a significant impact on the market in the coming years.
Polyacrylate Market Growth Rate By Region

Competitive Landscape

Most of the players in the market captively consume polyacrylate to produce various products such as dispersions and polymethyl methacrylate (PMMA). The market studied is partially consolidated among the top players. The key players include BASF SE, Kao Corporation, Arkema, LG Chem, and Dow, among others.

Recent Developments

  • In September 2020, Sulzer Chemtech installed crystallization equipment for LG Chem to enhance the acrylic acid production to 160 kilotons annually at LG Chem's complex in Yeosu of South Korea.
  • In January 2020, BASF SE enhanced the flexibility of its water-soluble polyacrylate production plant along with slight capacity expansion at its Ludwigshafen site in Germany for application in household and commercial cleaning products and chemical formulation, thus, in turn, strengthens its polycarbonate business.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Increasing Demand for Paints and Coatings from the Construction Sector

      2. 4.1.2 Demand from the Cosmetics Industry for Usage as Adhesive

    2. 4.2 Restraints

      1. 4.2.1 Impact of the COVID-19 Pandemic

      2. 4.2.2 Availability of Biodegradable Alternatives like Thermal Polyaspartate

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

  5. 5. MARKET SEGMENTATION

    1. 5.1 Application

      1. 5.1.1 Adhesives

      2. 5.1.2 Paints and Coatings

      3. 5.1.3 Dispersants

      4. 5.1.4 Other Applications

    2. 5.2 Geography

      1. 5.2.1 Asia-Pacific

        1. 5.2.1.1 China

        2. 5.2.1.2 India

        3. 5.2.1.3 Japan

        4. 5.2.1.4 South Korea

        5. 5.2.1.5 Rest of Asia-Pacific

      2. 5.2.2 North America

        1. 5.2.2.1 United States

        2. 5.2.2.2 Canada

        3. 5.2.2.3 Mexico

      3. 5.2.3 Europe

        1. 5.2.3.1 United Kingdom

        2. 5.2.3.2 France

        3. 5.2.3.3 Germany

        4. 5.2.3.4 Italy

        5. 5.2.3.5 Rest of Europe

      4. 5.2.4 South America

        1. 5.2.4.1 Brazil

        2. 5.2.4.2 Argentina

        3. 5.2.4.3 Rest of South America

      5. 5.2.5 Middle-East and Africa

        1. 5.2.5.1 South Africa

        2. 5.2.5.2 Saudi Arabia

        3. 5.2.5.3 Rest of Middle-East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share/Ranking Analysis**

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 BASF SE

      2. 6.4.2 Arkema

      3. 6.4.3 Dow

      4. 6.4.4 Kao Corporation

      5. 6.4.5 LG Chem

      6. 6.4.6 Lucite International

      7. 6.4.7 RSD Polymers Pvt. Ltd

      8. 6.4.8 SANYO CHEMICAL LTD

      9. 6.4.9 SUMITOMO SEIKA CHEMICALS CO. LTD

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability

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Frequently Asked Questions

The Polyacrylate Market market is studied from 2016 - 2026.

The Polyacrylate Market is growing at a CAGR of >4% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

Asia Pacific holds highest share in 2020.

BASF SE, Arkema, LG Chem, Kao Corporation, Dow are the major companies operating in Polyacrylate Market.

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