In 2021, the market for acrylate oligomers was valued at about US$ 2.1 billion, and between 2022 and 2032, it is anticipated to increase at a constant CAGR of 5.68 percent. The market for acrylate oligomers is expanding as a result of rising demand from a variety of industries, including paints and coatings and construction.
Acrylate oligomer are the group of dimers, trimers and tetramers of acrylates. By molecular structure, Acrylate oligomer consists of complex of few acrylate monomers. Acrylate oligomers are majorly used as UV or electron beam curing resin.
The mentioned application thus enables the use of acrylate oligomer mainly in paints & coatings, inks and adhesives. Less price of acrylic oligomers compared to other oligomer along with the better curing properties of acrylate oligomers makes it a first choice of the coating, ink, adhesives and others. UV and electron beam are widely used as curing in various industries including adhesives, paints & coatings, automotive, building & construction, and electronics industry.
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Acrylate oligomers play a vital role in UV and electron beam curing applications. The advantages of using acrylate oligomers is that, it can cure at a faster rate compared to that of conventional curing. Acrylate oligomers use can create low thermal stress on substrate, therefore it is highly preferred in such applications where thermal stress is not allowed on the substrate.
Combination of various chemistries with acrylate oligomers can improve cure speed, adhesion, weatherability, scratch resistance, and hardness.
Market Dynamics of Acrylate oligomer Market
Growing preference of UV cured paints & coating resins
Increasing global population along with rise in the income level of the population in the growing economies is pushing the demand for performance coatings. Rise in the construction activities in the highly populated countries as well as other emerging economies is also driving the market for acrylate oligomer.
Because of important properties of acrylate oligomers, these are favored by most of the formulators especially where UV curing or electron beam curing is required. Increasing preference for acrylate oligomers along with other resins in various applications such a coatings, inks, and adhesives is expected to boost the demand for acrylate oligomers.
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Rise in the environmental standards and compliances are expected to impact the potential growth of acrylate oligomers market, during the forecast period
Large number of environmental compliance laws in developed and developing countries however, are impacting the potential growth of the acrylate oligomer market growth. Restrictions on the VOC content in paints & coatings and inks, is hindering the growth of these application industries of acrylate oligomers.
Advancement in the industrial safety standards by leading manufacturers in developed countries is a challenging task for the small scale manufacturers. This in overall, is expected to retard the business development for small scale manufacturers involve in sales and distribution of acrylate oligomer.
Acrylate oligomer market trends: Innovation and product advancement is resulting into new product development in the acrylate oligomer market
Key manufacturers are continuously investing in R&D for improved products and to gain market share with product differentiation every year. Growth in the demand for improved performance products is pushing the new developments in acrylate oligomer market.
Acrylate oligomer manufacturers are also focusing on the improving their distribution channel through contracts and agreements. Leading players are spreading their presence in the high growth regions through joint ventures and contracts.
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Acrylate oligomer Market: Regional Outlook
Asia is the leading region in the global acrylate oligomer market, owing to burgeoning paints & coatings industry in this region. Increasing urbanization in the China and India are supporting the automotive and building & construction industry growth in this region.
High index of regional industrial production in addition has boosted the demand of industrial paints which is expected to reflect into growth in demand for acrylate oligomer. Europe is expected to follow Asia Pacific acrylate oligomer market, in terms of demand, however the stringent environmental laws in Europe is affecting the potential growth of the acrylate oligomer market in this region.
North America followed Europe acrylate oligomer market, expecting the significant growth over the forecast period. Increasing production of acrylate oligomers in China at lower cost is increasing the price competition globally. This is pushing the acrylate oligomer business in Asia driving the global demand for acrylate oligomer.
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Global Acrylate oligomer Market Participants
Some of the market participants identified across the value chain of global Acrylate oligomer market are:
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The Global Acrylate oligomer Market: Regional analysis includes
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Global Acrylate Oligomer Market Segmentation
On the basis of Type, the global acrylate oligomer market can be segmented as:
On the basis of end use industry, the global acrylate oligomer market can be segmented as:
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