Global Isononyl Acrylate Market: Snapshot
Specialty acrylate, isononyl acrylate is derived from the chemical reaction of isononyl alcohol and acrylic acid. Research indicates that isononyl acrylate has the least glass transition temperature as compared to other acrylates. This makes them the ideal raw material for adhesives and sealants.
The low glass transition temperature of isononyl acrylate also changes the rheological properties of elastic paints, thus making it a key ingredient in the production of paints and coatings. Owing to these reasons, the global isononyl acrylate market is expected to surge at a CAGR of 2.4% between 2016 and 2024. The global market is expected to reach a valuation of US$12.3 mn by the end of 2024 from US$10 mn in 2015. The four types of commercialized acrylates are methyl acrylate, ethyl acrylate, butyl acrylate, and 2-ethylhexyl acrylate (2-EHA).
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The global isononyl acrylate market is expected to thrive due to the flourishing global adhesives industry. The report indicates that the global adhesives and sealants industry is expected to expand at a CAGR of 4.5% between 2016 and 2024, whereas the global adhesives tapes industry is anticipated to rise at a CAGR of 6.8% during the same period. Both of these factors are expected to spike up the demand for isononyl acrylate in the coming years. Isononyl acrylate is primarily employed for adhesives applications due to their low glass transition temperature.
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Rising Production of Pressure-sensitive Tapes Keeps up Demand for Isononyl Acrylate
On the basis of application, the global isononyl acrylate market is segmented into adhesives and sealants and paints and coatings. Needless to say, the adhesives and sealants application segment is anticipated to expand at a phenomenal pace. This segment is also poised to acquire a share of 96.4% by the end 2024. Currently, the key application of isononyl acrylate is seen in the production of pressure-sensitive adhesive tapes. Thus, the rise in demand for these tapes is expected to have a positive influence on the demand for isononyl acrylate in the near future. Paints and coatings industry is also anticipated to offer lucrative opportunities to the overall market due to the growing demand for these in the booming construction industry.
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Asia Pacific to Remain Dominant throughout Forecast Period
In terms of geography, the global isononyl acrylate market is segmented into North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa. Of these regions, Asia Pacific holds a dominant share in the global market. The Asia Pacific isononyl acrylate market held a share of over 80% in the overall market in 2015. The rapid industrialization and growing manufacturing activities are expected to drive the regional market in the coming years. The emerging economies of India and China are anticipated to be key consumers of isononyl acrylate during the forecast period.