According to Future Market Insights, the global acrylate oligomer market is projected to attain a valuation of USD 2.35 billion in 2023 and is estimated to reach USD 4.05 billion by 2033 while exhibiting a CAGR of 5.6% during the forecast period.
Rising demand for acrylate oligomers across various industries such as paints & coatings and buildings & construction is driving the growth in the acrylate oligomer market.
Acrylate oligomers are polymers of acrylates, used for a wide range of applications across industries like building & construction, automotive & transportation, chemicals, and paints & coatings. These acrylate oligomers exhibit superior chemical resistance, heat resistance, and durability. Hence, they are being increasingly used in the ultraviolet (UV) and electron beam (EB) curing of coatings and inks.
These acrylate oligomers create low thermal stress on the substrate, thereby making them suitable for applications where thermal stress is not allowed on the substrate. Hence, the growing demand for high-performance coatings and adhesives in the automotive and construction sectors is projected to create lucrative growth avenues within the global acrylate oligomer market during the assessment period.
The market is expected to be driven by high demand from Asia Pacific and Middle East & Africa, as rapid growth in construction activities in developing nations like India and China. The polymer's properties, including low viscosity, fast drying time, and temperature solubility, are expected to fuel its increasing application.
Other reasons for its rising consumption are excellent adhesion on metal surfaces, good weathering resistance at elevated temperatures, and long-term durability without discoloration or degradation (except when exposed to ultraviolet light). These factors are expected to drive market growth during the forecast period.
| Report Attribute | Details |
|---|---|
| Expected Market Value (2023) | USD 2.35 billion |
| Anticipated Forecast Value (2033) | USD 4.05 billion |
| Projected Growth Rate (2023 to 2033) | CAGR of 5.6% |
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Use of Acrylate Oligomers in UV-Cured Applications to Drive Market Growth
Rising preference for UV-cured paints, adhesives & coating resins, and rapid expansion of industries such as building & construction and automotive are some of the factors driving the demand for acrylate oligomers. Acrylate oligomers have become widely popular across the paints and coatings industry on account of their excellent chemical resistance and fast-curing properties. Hence, they are being extensively used in ultraviolet (UV) and electron beam curing applications.
A robust growth of the building and construction industry due to the economic boom, and rising government initiatives and investments is providing impetus to the acrylate oligomer market demand. The booming automotive and electronics industries across the world are anticipated to create lucrative growth opportunities for acrylate oligomer manufacturers during the forthcoming decade.
Acrylate oligomers like urethane acrylate oligomer and polyester acrylate oligomer have become ideal for the production of automotive coatings and adhesives which require strong bonding properties to withstand extreme environmental conditions. The introduction of new advanced acrylate oligomers in the market is expected to further expand the global acrylate oligomer market size in the future.
Growing Environmental Concerns to Restrain Growth
Despite the rising popularity of acrylate oligomers, there are certain factors that restrict growth in the acrylate oligomer market. Some of these factors include growing environmental concerns regarding volatile organic compound (VOC) emission, the presence of stringent environmental standards, and advancement in industrial safety standards.
Various countries are introducing environmental compliance laws to restrict the use of VOC content in paints, coatings, and inks. This, in turn, is negatively impacting the growth of the acrylate oligomer market.
Asia Pacific: A Thriving Hub for Acrylate Oligomers Driven by Rapid Industrialization and Urbanization
As per FMI, Asia Pacific is expected to continue to remain the leading market for acrylate oligomers during the forecast period between 2023 and 2033. This is owing to the rapid industrialization and urbanization, the presence of leading acrylate oligomers manufacturers, easy availability of raw materials at affordable costs, and favorable government support.
The demand for acrylate oligomers in the region is expected to rise at a CAGR of 5.8% during the forecast period. The regional market is expected to accumulate over 38.8% market share in 2023.
Fast-growing nations like India and China are experiencing demand for high-performance paints and coatings due to booming automotive and construction sectors. This is expected to trigger the sales of acrylate oligomers in the region.
Rapid Expansion of Construction Industries to Fuel the Market in Europe
According to Future Market Insights, Europe's acrylate oligomer market is projected to exhibit steady growth with a CAGR of 5.5% during the forecast period. Growth is due to the rapid expansion of industries like building & construction, and chemicals & plastics.
Demand is particularly surging across countries such as the United Kingdom, France, and Germany, as per FMI. This is due to higher infrastructure spending, the presence of various leading acrylate oligomer manufacturers, and the growing popularity of UV-cured paints and resins.
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Some of the leading manufacturers of acrylate oligomer include Arkema SA, BASF SE, Covestro AG, Royal DSM, Hitachi Chemical Company Ltd., Nippon Gohsei, Lambson Limited, Allnex Group, Jiangsu Sanmu Group Corporation, Toagosei Co. Ltd., IGM Resins B.V., Alberdingk Boley GmbH, and Miwon Specialty Chemical Co. Ltd.
The presence of a large number of domestic and regional players has made the global acrylate oligomer market highly competitive in nature. In order to capitalize on the emerging opportunities, leading acrylate oligomer manufacturers are increasingly adopting various strategies such as new product launches, partnerships, acquisitions, mergers, and the establishment of new manufacturing facilities across lucrative regions.
Some recent developments in the acrylate oligomer market are:
| Report Attribute | Details |
|---|---|
| Market Value in 2023 | USD 2.35 billion |
| Market Value in 2033 | USD 4.05 billion |
| Growth Rate | CAGR of 5.6% from 2023 to 2033 |
| Base Year for Estimation | 2022 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USD billion and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered |
Type, End Use Industry, Region |
| Regions Covered |
North America; Latin America; Western Europe; Eastern Europe; South Asia and Pacific; East Asia; Middle East and Africa |
| Key Countries Profiled | United States, Canada, Brazil, Mexico, Germany, United Kingdom, France, Spain, Italy, Russia, Poland, Czech Republic, Romania, China, Japan, South Korea, India, Bangladesh, Australia, New Zealand, GCC countries, South Africa, Israel |
| Key Companies Profiled |
Arkema SA; BASF SE; Covestro AG; Royal DSM; Hitachi Chemical Company Ltd.; Nippon Gohsei; Lambson Limited; Allnex Group; Jiangsu Sanmu Group Corporation; Toagosei Co. Ltd.; IGM Resins B.V.; Alberdingk Boley GmbH; Miwon Specialty Chemical Co. Ltd. |
| Customization & Pricing | Available upon Request |
The acrylate oligomer market is set to attain a value of USD 2.35 billion in 2023.
The acrylate oligomer market is estimated to surpass USD 4.05 billion by 2033.
The acrylate oligomer market is projected to experience a CAGR of 5.6% through 2033.
Asia Pacific's robust 5.8% CAGR through 2033 positions it as the prime region for lucrative revenue opportunities in the acrylate oligomer market.
Key acrylate oligomer market players are Arkema SA, BASF SE, Covestro AG, Royal DSM, Hitachi Chemical Company Ltd, and others.
| Estimated Market Size in 2024 | USD 138.8 million |
|---|---|
| Projected Market Value in 2034 | USD 209.4 million |
| Value-based CAGR from 2024 to 2034 | 4.2% |
| Expected Market Value (2023) | USD 3.65 billion |
|---|---|
| Market Value (2033) | USD 5.5 billion |
| Projected Growth Rate (2023 to 2033) | CAGR 4.1% |
| Market Size (2022) | USD 8.75 Billion |
|---|---|
| Market Size (2032) | USD 16.43 Billion |
| Market CAGR (2022 to 2032) | 6.5% |
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