Pune, India -- (SBWIRE) -- 12/27/2018 -- Regional Analysis:
Geographically, the Global Isobutyl Acrylate Market is divided into five key regions. It includes Asia Pacific, North America, Europe, Middle East & Africa, and Latin America. Among these regions, Asia Pacific is growing at highest CAGR owing to the presence of major end use industries in this region. India, China, and, Japan are the leaders in regional market. The region accounts for ~40% share of the Global Isobutyl Market. North America is holding significant share of the Global Isobutyl Acrylate Market. U.S. is the largest market is this region on account of the growing demand of isobutyl acrylates in reconstruction activities and transportation sector.
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Europe is another substantial region in the Global Isobutyl Acrylate Market, wherein Germany, U.K., France, Switzerland are the major markets. This is attributed to the major end use industries such as automotive and building & construction. The demand of high end value addition products in housing, and commercial buildings in this region may drive the demand of Isobutyl Acrylate. Apart from these three major regions in the Global Isobutyl Acrylate Market, the Middle East & Africa is growing at considerable rate during the forecast period. The region exhibit sizeable growth potential for Isobutyl Acrylate Market on account of increasing building & construction activities in this region. Lastly, Latin America is anticipated to join hand with leading end use industries in coming years due to pacifying economic and political scenario in Brazil and Colombia.
Industry Overview
Growing construction activities and rapid industrialization around the world is primarily driving the demand of Isobutyl Acrylates. Global Construction Adhesives Markets is estimated to reach ~USD 11 billion by the end of 2023 at CAGR of 5.5%. In addition to this, Acrylate Copolymer based adhesive is constantly penetrating into major industries such as building & construction and woodworking. An increasing standards of living and disposable income of people in developing countries facilitating them to invest in decorative and high end construction activities, which is expected to fuel the demand of Isobutyl Acrylate in making adhesives & sealants. There is an increasing production of chemicals over the world with growing demand of various organic and inorganic products. This in turn, is anticipated to increase use of Isobutyl Acrylates in commercial chemical reactions. Thermoplastic industry is steadily soaring in countries namely China and India on account of greater demand, low labor cost and raw material availability, which is projected to fetch considerable amount of isobutyl acrylate in manufacturing plastic materials. However, the major technical constraint in a growth of Isobutyl Acrylate Market is anticipated to be the potential health and environmental hazards. It violently react while polymerization reaction and is highly flammable when exposed to air. This necessitates provision of proper training and safety measures to be undertaken by handling industries. Nevertheless, with ongoing research in the field of safety and proper guidelines in place for handling this product would help overcome this bottleneck.
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