India Acrylate Esters MarketPosted by Sophia Jones on February 24th, 2021
Acrylate Esters demand in India grew at a CAGR of around 6.92% during 2016-2019 and is expected to achieve a healthy growth rate during the forecast period. Acrylate Esters has properties like heat and ageing resistance, less toxicity, color stability and low-temperature flexibility. These properties drive its adoption in the end user industries like Paints and Coatings, Textile, Plastic and Adhesive Industry. With the booming population, the infrastructure and construction industry are expected to grow that will drive the demand of Acrylate Esters in India. Acrylate Esters are used in the production of Acrylic Acid that has huge demand in India in the coming years. The major consumption of acrylate esters is of Butyl Acrylate in Paints and Coatings and Adhesives and Sealants Industry. The water proofing ability of Butyl Acrylate is the property that is used in the end-user industries. In the forecast years, the demand of Butyl Acrylate in Paints and Coating Industry is expected to grow. West India is the major consuming region in India. Methyl acrylate owing to high water and sunlight resistant properties has applications in latex paints production. Ethyl acrylate is widely used in the application in wastewater treatment chemicals. Due to stringent government regulations, the demand of ethyl acrylate is expected to increase in the forecast years. The demand of butyl acrylate in polymerization is also increasing. Fluctuating crude oil prices impact the acrylate esters prices. However, sudden outbreak of novel coronavirus hard hit the country’s Acrylate Esters sector as several Indian ports had to declare force majeure in compliance with the government’s lockdown measure in country’s battle against COVID-19. Acrylate Esters supplies remained tight throughout the final quarter of 2020 as the Indian market is dependent on exports from other countries. Years Considered for this Report: Objective of the Study: Currently there are no manufacturers of acrylate esters in India but Bharat Petroleum Corporation Limited is expected to introduce a manufacturing plant of butyl acrylate and 2 Ethyl Hexyl Acrylate by 2023. India is dependent on imports from international companies for Acrylate Esters. Import of Acrylate Esters declined by almost 20 per cent in FY 2020 and Acrylate Esters prices were assessed at USD XXX per MT on bulk contract basis. To extract data for India Acrylate Esters market, primary research surveys were conducted with manufacturers, suppliers, distributors, wholesalers and end users of Acrylate Esters. While interviewing, the respondents were also inquired about their competitors. Through this technique, Our Analyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, Our Analyst analyzed various end user segments and projected a positive outlook for India Acrylate Esters market over the coming years. To extract data for India Acrylate Esters market, primary research surveys were conducted with Acrylate Esters manufacturers, suppliers, distributors, wholesalers and end users. While interviewing, the respondents were also inquired about their competitors. Through this technique, Our Analyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, Our Analyst analyzed various end user segments and projected a positive outlook for India Acrylate Esters market over the coming years. Our Analyst calculated Acrylate Esters demand in India by analyzing the historical data and demand forecast was carried out considering the end use industries growth. Our Analyst sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by Our Analyst. Key Target Audience: The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Acrylate Esters manufacturers, distributors and policy makers. The report also provides useful insights about which market segments should be targeted over the coming years to strategize investments and capitalize on growth opportunities. Report Scope: Competitive Landscape Available Customizations: Browse our full report with Table of Content : About Market Reports on India: Contact us at: Like it? Share it!More by this author |