Rockville, Aug. 28, 2023 (GLOBE NEWSWIRE) -- As per Fact.MR, a market research and competitive intelligence provider, the global Lauryl Acrylate Market is estimated to be valued at US$ 305.6 million in 2023 and is forecasted to expand at a CAGR of 5.2% between 2023 and 2033. Lauryl acrylate is a monomer that can be used in a variety of applications in the field of polymer chemistry due to its excellent adhesion properties, durability, and versatility. This monomer is being used in a wide range of applications, including automotive coatings, wood coatings, and metal coatings.
Lauryl acrylate can also be used to produce adhesives that have excellent bonding properties for the packaging, bookbinding, and paper manufacturing sectors. It is used to produce coatings with high solid content, which can reduce the need for solvents and VOCs, making the coatings more environment-friendly. It produces coatings with favorable film properties, such as high gloss, strong hardness, and excellent resistance to weathering and UV light.
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Key Takeaways from Market Study
- The global lauryl acrylate market is projected to expand at 5.2% CAGR and reach US$ 507.3 million by 2033.
- The market reached a valuation of US$ 290.5 million in 2022, expanding at a CAGR of 1.7% from 2018 to 2022.
- Leading manufacturers of lauryl acrylate include OSAKA Organic Chemical Industry Ltd., Scientific Polymer Products Inc., BASF SE, Shanghai CRM New Material Technology Co., Ltd, Arkema S.A., San Easters Corp., Green Chemical Co., Ltd., N. Shashikant & Company, United Mud Chemicals, Jamorin International, Miwon Speciality Chemical Limited, and Sinocure Chemical Co., Ltd.
- Use of lauryl acrylate in coating formulations is estimated to increase at a CAGR of 5.5% during the forecast period (2023 to 2033).
- The market in the United States is projected to reach US$ 153.2 million by 2033.
“Rising demand for coatings for consumer goods, construction, and automotive applications is contributing to the growth of the lauryl acrylate market,” says a Fact.MR analyst.
Market Growth Stratagems
Prominent strategies adopted by key market players include expanding their geographical presence, product diversification, strengthening supply chain management, establishing strategic partnerships with other industry stakeholders to access new markets and distribution channels, and focusing on customer engagement.
The forefront of the Lauryl Acrylate market features industry leaders such as OSAKA Organic Chemical Industry Ltd., Scientific Polymer Products Inc., BASF SE, Shanghai CRM New Material Technology Co., Ltd, Arkema S.A., San Easters Corp., Green Chemical Co., Ltd., N. Shashikant & Company, United Mud Chemicals, Jamorin International, Miwon Speciality Chemical Limited, and Sinocure Chemical Co., Ltd.
These key market players are dedicated to ongoing product innovation and sustainable production practices, heavily investing in research and development to introduce advanced Lauryl Acrylate solutions that cater to emerging applications. This commitment is poised to enhance product attributes, prolong durability, and bolster functionality.
Furthermore, diversification remains a pivotal element of their strategic approach, enabling the expansion of Lauryl Acrylate's utility across diverse industries. To uphold product quality and standards, these industry leaders are channeling investments into fortifying their product development and supply chain management systems.
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What Factors Fuel the Growth of the Lauryl Acrylate Market in the United States?
The United States market is poised to experience a 5.7% CAGR, reaching $153.2 million by 2033, primarily driven by the increasing integration of lauryl acrylate into cosmetics, which enhances product spreadability and numerous other qualities. Lauryl acrylates find applications in adhesives, coatings, paints, sealants, and personal care products, prompting high demand in the U.S. market.
Cosmetic companies have embraced the incorporation of lauryl acrylate to improve the texture, stability, adhesiveness, and moisture retention of their products, resulting in extended wear. This strategic usage of lauryl acrylate, notably in sunscreens, lotions, and foundations, significantly enhances the spreadability of these cosmetic items, fueling demand and creating lucrative opportunities for manufacturers and suppliers of lauryl acrylate to meet the evolving requirements of diverse industries in the United States.
Segmentation of Lauryl Acrylate Industry Research
- By Purity:
- <95%
- >95%
- By Form:
- Liquid
- Solid
- Powder
- Flakes & Crystals
- By Application:
- Adhesive Formulations
- Coating Formulations
- Architectural Coatings
- Industrial Coatings
- Automotive Coatings
- Textile Finishing
- Others
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the lauryl acrylate market, presenting historical market data for 2018 to 2022 and forecast statistics for 2023 to 2033.
The study reveals essential insights based on purity (<95%, >95%), form (solid, liquid), and application (adhesive formulations, coating formulations, textile finishing, others), across major regions of the world (North America, Latin America, Europe, East Asia, South Asia, and Oceania, and the Middle East & Africa).
Checkout More Related Studies Published by Fact.MR Research:
Ethyl Acrylate Market: The present shares of ethyl acrylate market account for USD 8.63 Billion. The market is expected to grow with a CAGR of 6.2% for the forecast duration. The Ethyl Acrylate market is expected to reach USD 16.73 Billion by the end of 2032.
Dimethylaminoethyl Acrylate Market: Global Dimethylaminoethyl Acrylate market is highly consolidated in nature with only few countable manufacturers positioned across the globe. Majority of the supply is concentrated in Europe while the rest of the supply share could be attributed to China and Japan.
Adhesive Resins Market: The global adhesive resins market is valued at US$ 18.7 billion in 2023 and is forecasted to top a market valuation of US$ 31 billion by the end of 2033, expanding at a CAGR of 5.1% over the next ten years.
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