Alkyl acrylate market is anticipated to witness high growth rate due to its properties such as high viscosity boosting, strong binding and emulsion stabilizing, which is most required in cosmetics products.
Alkyl acrylate was valued at US$ 8.75 billion in 2022, and by 2032, it is anticipated to reach US$ 16.43 billion. From 2022 to 2032, this is anticipated to occur at a CAGR of 6.5 %. Acrylate is a major factor in the growth of the global alkyl acrylate market because of its use in adhesive and coating applications.
In the past decade, sales of cosmetics has spiraled which was mainly attributed to women becoming a major part of global workforce. Skin care has rose as an important trend in the global cosmetics market. In order to cope with this, manufacturers are consistently investing in development of chemicals that have multifunctional properties.
One such chemical is alkyl acrylate. Butyl acrylate is one of the prominent members of alkyl acrylates. The other members include methyl, ethyl, and vinyl among others. Alkyl acrylate contains two groups, hydrophobic and hydrophilic. Alkyl acrylate is used as a viscosity booster and absorbents. It is also used as an emulsion stabilizer, suspending agents, skin conditioning agents, and binders in personal care products.
Get a Sample Copy of the Report @ https://www.futuremarketinsights.com/reports/sample/rep-gb-2263
Alkyl acrylate is used in the personal care products which includes facial moisturizers, treatment creams, tanning lotions and sun creams among others. Alkyl acrylate is also used in shampoos, hair bleaching and colouring products.
Alkyl acrylate also finds a wide range of application in pharmaceuticals industry including effervescent and chewable tablets and oral suspension medicines. These acrylates are used in surface coatings in the form of polymers. Alkyl acrylates also find application in textiles, paints and leather processing. The global alkyl acrylate market is expected to show a higher growth rate over the forecast period.
Alkyl Acrylate Market Dynamics
Alkyl acrylate market is anticipated to witness high growth rate due to its properties such as high viscosity boosting, strong binding and emulsion stabilizing, which is most required in cosmetics products. Changing lifestyle of people coupled with increasing demand for anti-aging products is expected to propel the demand for alkyl acrylate, thus boosting the global alkyl acrylate market.
In addition to this, rapidly increasing demand for pharmaceuticals is also projected to augment the demand for alky acrylate over the forecast period. Increasing textile industry is also expected to fuel the demand for alkyl acrylates over the forecast period.
The major manufacturers in global alkyl acrylate market are focusing on developing new formulations that can maintain viscosity consistency at different temperatures. Furthermore, major companies have adopted the strategy of focussing on production capacity expansion.
Alkyl Acrylate Market: Regional Outlook
North America is expected to account for the largest market share in the global alkyl acrylate market over the forecast period. This is mainly attributed to the increasing demand for cosmetics in this region. The changing lifestyle of consumers coupled with increasing demand for anti-aging products is expected to boost the demand for alkyl acrylate market in this region.
Asia Pacific is expected to witness significantly higher growth rate in the global alkyl acrylate market over the forecast period. Europe is also expected to contribute a major share in the global alkyl acrylate market throughout the forecast period. Latin America and Middle East and Africa are also anticipated to exhibit relatively higher growth over the forecast period.
Alkyl Acrylate Market: Market Participants
The competitive landscape for alkyl acrylate market is majorly marked by the presence of large players as well as small scale players. Some of the major players identified in the supply chain of alkyl acrylate market are The Dow Chemical Company, Arkema SA, Thermax, BASF SE, San Ester Corp., Anhui Newman Fine Chemicals Co., Ltd., and Osaka Organic Chemical Industry Ltd. among others.
Request for Customization @ https://www.futuremarketinsights.com/customization-available/rep-gb-2263
Alkyl Acrylate Market: Segmentation
There are various perspectives of understanding the alkyl acrylate market segmentation. Some of the examples of such breakdown include alkyl acrylate market segmentation on the basis of chemical groups, product types, function, and application.
Alkyl acrylate market segmentation on the basis of chemical groups,
Alkyl acrylate market segmentation on the basis of product types ,
Alkyl acrylate market segmentation on the basis of functions,
Alkyl acrylate market segmentation on the basis of applications,
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market.
Jan 18, 2023
Copyright © 2006 - 2023 PRnob Media, UBIC Solutions, LLC. All Rights Reserved.
