Global Methyl Acrylate Market Report and Forecast 2025-2034

Global Methyl Acrylate Market Size

The global market for methyl acrylate attained a value of USD 405.4 million. The market is estimated to grow at a CAGR of 4% between 2024 and 2032 to reach a value of USD 577 million by 2032.

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Methyl Acrylate Market Growth

Rising Demand from Food Packaging and Plastic Industries to Aid the Global Market Growth

The industry is driven by the rising demand from the food packaging and plastic industry, where it is used as an additive. The market is further aided by multiple factors, such as rising per capita incomes, changing lifestyles, and rapid urbanisation, especially in emerging economies, like India and China, among others. The rising demand for surface coating due to its extensive use in water-based coatings, such as lacquers and paints to offer low-temperature flexibility and UV and water resistance, is expected to augment the growth of the methyl acrylate market. Further, the growing demand for chemicals for water treatment to maintain sustainability is expected to push the market growth in the forecast period.

Methyl Acrylate Market Trends

Ongoing innovations in the chemical synthesis process to improve the production yield of methyl acrylate is a key trend in methyl acrylate market. Focus on eco-friendliness and green chemistry is encouraging manufacturers to research bio-based alternatives such as feedstocks for the production of methyl acrylate.

Recent Developments

As per the methyl acrylate market dynamics and trends, Dow announced in August 2021 that it was investing in methyl acrylate production in the US Gulf Coast. The company stated that this move was a result of the rising demand for methyl acrylate in water treatment, resins, and packaging materials, among others.

Industry Outlook

According to ITC Trademap, in 2023, China led the global exports with 360,421 tons. As per the methyl acrylate industry analysis, Belgium followed with 276,815 tons, and the United States exported 260,753 tons. Germany exported 196,178 tons, while Saudi Arabia saw a significant export quantity of 139,051 tons. Malaysia exported 138,630 tons, France 112,039 tons, and Taiwan 98,872 tons. South Korea's exports stood at 65,677 tons, the Russian Federation at 63,604 tons, and South Africa at 47,248 tons. The Czech Republic exported 44,238 tons, and Japan's export quantity was 31,135 tons.

In 2021, the Asia Pacific region led the global coatings market, accounting for 27.0 billion Litres (56% of total market volume), with architectural coatings making up 11.68 billion Litres, which also contributed to the growth of the methyl acrylate industry. Europe followed with a market volume of 8.2 billion Litres (17%), with architectural coatings representing 5.15 billion Litres.

North America had a market volume of 5.7 billion Litres (12%), with 3.57 billion Litres dedicated to architectural coatings. Latin America accounted for a market volume of 4.1 billion Litres (8%), with 3.10 billion Litres in architectural coatings. The Middle East and Africa (MEA) region has a market volume of 3.3 billion Litres (7%), with architectural coatings comprising 2.41 billion Litres. OEM and Specialty coatings represent smaller portions of the market across all regions, with Asia Pacific leading in these categories as well, which enhanced the methyl acrylate industry revenue.

Factors Contributing to the Growth of the Methyl Acrylate Market Share Globally

• Robust growth in automotive, packaging, and construction sectors drives methyl acrylate demand.

• Innovations in production enhance accessibility and cost-effectiveness of methyl acrylate.

• Rapid urbanization, especially in Asia-Pacific, boosts demand in construction materials and coatings and aids methyl acrylate demand.

• Rising preference for lightweight, flexible packaging solutions drives market growth in Europe.

• Stricter regulations and sustainable material initiatives increase methyl acrylate use.

Challenges Faced by Manufacturers in the Global Methyl Acrylate Market

• Complex production processes result in elevated costs, affecting price competitiveness.

• Planned and unplanned production outages lead to supply constraints and price volatility, affecting methyl acrylate demand forecast.

• Evolving environmental regulations require constant adaptation, increasing operational costs. 

• Underinvestment in aging production facilities leads to reliability issues and higher costs.

• The market's competitiveness demands continuous innovation and strategic differentiation.

Key Growth Opportunities in the Global Methyl Acrylate Market

• Increased use in automotive paints, coatings, and adhesives boosts methyl acrylate market opportunities.

• Rising demand for flexible and rigid packaging materials.

• Advancements in production processes and new applications.

• Growing use in personal care products like nail polish and hair gel.

Key Factors Impacting the Price of Methyl Acrylate

Raw Material Costs:

• The primary raw materials for producing methyl acrylate are propylene and methanol. Fluctuations in the prices of these commodities, often due to changes in crude oil prices, can significantly impact costs and methyl acrylate market value.

Supply and Demand Dynamics:

• The balance between supply and demand in the market affects prices. High demand from industries like textiles, adhesives, paints, and coatings, coupled with supply constraints, can drive prices up.

Production Capacity and Technology:

• The availability of production facilities and technological advancements can influence supply levels. Expansions, shutdowns, or upgrades in manufacturing plants can lead to changes in market prices.

Economic Conditions:

• Economic growth or recession affects industrial activities and consumer spending, which in turn impacts the demand of methyl acrylate market.

Trade Policies and Tariffs:

• Import and export tariffs, trade agreements, and geopolitical tensions can affect the flow of raw materials and finished products, influencing prices.

Competitive Landscape:

• The level of competition among manufacturers and suppliers can affect pricing strategies. New entrants or changes in market share among existing players can lead to price adjustments and affect methyl acrylate demand growth.

Energy Costs:

• Energy prices, particularly natural gas and electricity, play a role in production costs. Increases in energy prices can lead to higher production costs and, consequently, higher prices for methyl acrylate.

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Methyl Acrylate Industry Segmentations

Methyl acrylate refers to the colourless volatile liquid that has slight solubility in water, but in alcohols, ethers, and other organic solvents, it gets completely dissolved. It is used in the production of photopolymer and copolymer to cater to various industrial purposes like cleaning and waxing products, synthetic rubbers, and latexes, among others.

On the basis of application, the market is divided into:

• Surface Coatings

• Chemical Synthesis

• Adhesives and Sealants

• Plastic Additives

• Detergents

• Textiles

• Others

Based on end use, the methyl acrylate industry can be segmented into:

• Automobile

• Packaging

• Building and Construction

• Personal Care and Cosmetic

• Others

The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Competitive Landscape

The report gives a detailed analysis of the following key players in the global methyl acrylate industry, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

• Arkema SA

• LG Chem Ltd.

• BASF SE

• Shanghai Huayi Acrylic Acid Co., Ltd.

• Nippon Shokubai Co., Ltd.

• SIBUR International GmbH

• Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

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Methyl Acrylate Market Regional Analysis

The Asia Pacific Presents Significant Growth Opportunities for the Methyl Acrylate Industry

Region-wise, the Asia Pacific region is expected to witness fast growth in the forecast period. Several factors, such as rising disposable income, growing urbanisation, and enhancing living standards, are aiding the market growth in the region, especially in developing economies, like India and China. Methyl acrylate is used in several industries, like furniture, automotive, metal, and paints and coatings, among others. Due to the rising demand for these products, along with the growing population, the methyl acrylate market share is expected to grow rapidly in the forecast period.

However, North America and Western Europe are anticipated to have moderate growth in the automotive sector. Latin America and Eastern Europe are estimated to witness significant growth over the forecast period owing to the rising automotive and paint industries. The Middle East and Africa region is also predicted to exhibit high growth in the coming years as a result of the rising construction activities.

Key Highlights of the Report

Methyl Acrylate Market Report Snapshots

Methyl Acrylate Market Size

Methyl Acrylate Market Growth

Methyl Acrylate Market Trends

Methyl Acrylate Companies

Methyl Acrylate Market Regional Analysis