According to ChemAnalyst report, “India Butyl Acrylate Market Analysis: Plant Capacity, Production, Technology, Operating Efficiency, Demand & Supply, End-User Industries, Sales Channel, Regional Demand, Company Share, Foreign Trade, FY2015-FY2035”, The India Butyl Acrylate Market is likely to reach around 470 thousand tonnes by FY2035, at a CAGR of 5.48% during the forecasted period. The end-use industries like Paints and Coatings, Adhesive & Sealants, Printing Inks, Textile, and Cleaning Products are anticipated to accelerate the Butyl Acrylate Market in India in the forthcoming years.
Butyl Acrylate is an ester of acrylic acid with the chemical formula C₇H₁₂O₂. Commercial production of Butyl Acrylate is completed by the chemical reaction between acrylic acid and butanol in a reactor with an acidic catalyst in a place with a high temperature to create water, butyl acrylate, and other by-products. The resulting combination is subsequently refined in a distillation zone to produce butyl acrylate with higher purity. This method typically yields between 94 and 97%. Butyl Acrylate is employed as a solvent for coating adhesives, paints & coatings, inks, solvents, etc. The structure of butyl acrylate also contains a double bond due to which it is used as a chemical intermediate for various chemicals. Additionally, it can be found in cleaning materials, antioxidant compounds, fabrics, sealants, enamel paints, and paper finishes.
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The primary factor driving the market for this product is the usage of butyl acrylate as a solvent in numerous chemical goods. It is primarily employed by the coatings and paints industries. These coatings are utilized in various industries such as Architectural rubber coatings, water-based dispersions, and materials for hardware manufacture and refinishing of automobiles. Moreover, butyl acrylate is an ingredient for pressure-sensitive adhesives which are heavily employed by the textile and construction sectors. Butyl acrylate is also present in several PVC modifiers and moulding or extrusion additives thus driving its application in the plastics sector. With rising construction activities and infrastructure development, it is anticipated that the demand for commodities like paints & coating, and plastics is bound to increase which is expected to further fuel the demand for Butyl Acrylate in the forthcoming years. Additionally, the growing usage of butyl acrylate to manufacture thermoplastic ethylene acrylate copolymers (EAC), which include up to 35% butyl acrylate, is another leading factor causing market expansion. Mixtures of butyl acrylate with other monomers like vinyl acetate, methyl methacrylate, acrylic acid, styrene, and other acrylate ester monomers open a scope for various copolymer compositions.
The India Butyl Acrylate Market is segmented based on end-use, sales channel, and region. Based on end-use, the India Butyl Acrylate market is segregated into Paints and Coatings, Adhesive & Sealants, Printing Inks, Textile, Cleaning Products, and Others. In FY2023, the Paints and Coatings industry made up approximately 50% of the domestic demand followed by the Adhesive & Sealants industry. These industries are anticipated to be the lead consumers of the market even in the forecasted period as a result of their growing usage in the construction and automotive industries, as well as an increase in the replacement of old coatings with water-based paints and coatings and exceeding usage of adhesives.
Regionally, the Indian Butyl Acrylate market is segregated into four regions based on regional consumption: West, South, North, and South, with the West being the leading region. States like Gujarat and Maharashtra have been the key consumers of Butyl Acrylate due to the presence of leading industries of paints and acrylics such as Asian Paints located in these states. Moreover, to fulfill the growing demand for Butyl Acrylate, IOCL has commissioned a new plant which is estimated to be in operation in FY2024.
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“India Butyl Acrylate Market Analysis: Plant Capacity, Production, Technology, Operating Efficiency, Demand & Supply, End-User Industries, Sales Channel, Regional Demand, Company Share, Foreign Trade, FY2015-FY2035” As of FY2022, Bharat Petroleum Corporation Limited is the only producer of butyl acrylate. Other major global players fulfilling the Butyl Acrylate demand in India via exports are Basf Petronas Chemicals Sdn Bhd, Pinghu Petro Chemical Co Ltd, National Petrochemical Industrialza, Toyota Tsusho Corporation, and Others.
“The rapidly increasing demand of Butyl Acrylate as the solvents for manufacturing paints, coatings, adhesives, sealants, inks, etc. is expected to boost the India Butyl Acrylate Market in the forecast period until FY2035. Moreover, West India is leading consumers with States like Gujarat and Maharashtra being the of Butyl Acrylate due to the presence of leading paints & coating industries located in these sates. Currently Bharat Petroleum Corporation Limited is the only producer of butyl acrylate in the Nation and IOCL has been planning to launch a new plant which is anticipated to be fully functional by FY2024. “Said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm promoting ChemAnalyst worldwide.
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