Isononyl Acrylate Market - Global Market Share, Trends, Analysis and Forecasts, 2023 - 2032
Isononyl acrylate is a unique kind of acrylate attained by the reaction between isononyl alcohol and acrylic acid. Amongst all the commercially available acrylates, this chemical product has least glass transition temperature that renders it ideal for various applications such as paints & coatings, adhesives & sealants, etc. The global isononyl acrylate market is expected to garner maximum revenue in the forecast period. Factors such as rise in the global pressure sensitive adhesives business, high uptake of pressure sensitive tapes, utilized as masking & paper tapes, electrical tapes, packaging tapes, cloth & duct tapes and double-sided tapes, in different industries are expected to fuel the growth of isononyl acrylate market.
Also, the high demand for rigid packaging adhesives that are widely used in packaging applications in food & beverage and consumer goods industry across the globe is expected to propel the demand of isononyl acrylate. However, the highly complex and time-taking product manufacturing process, high expense required to manufacture this product are posing a challenge to the isononyl acrylate market. Additionally, the presence of cost competitive substitutes such as ethyl acrylate, methyl acrylate, butyl acrylate in the industry may present a significant hurdle to isononyl acrylate market growth.
The global isononyl acrylate market is segmented on the basis of application, and regions. Based on application, the global market is segmented into adhesive & sealants, and paints & coatings. Among the market segments, the sealants and adhesives are expected to command a major share owing to the growing demand of the product in the manufacturing of pressure sensitive adhesive tapes and labels that are mainly used in packaging industry. Also, the high demand for anti-corrosion paints for the protection of marine structure & vessels will also positively influence the growth of this market segment. Based on regions, the global isononyl acrylate market is divided into North America, Europe, Asia-Pacific (APAC), Middle East & Africa (MEA), and Latin America. The North American region is anticipated to command the maximum market share and would lead the isononyl acrylate market during the forecast period. Factors such as high usage rate of packaged food and goods in the developed economic regions including Europe and North America are driving the growth of this market.
The Asia-Pacific region is expected to witness the swiftest growth in the isononyl acrylate market. However, the gradual shift towards supermarket shopping and packaged food in the Asia Pacific regions owing to the adaptation of modern western style of consuming food and other products is propelling the growth of isononyl acrylate market in this region. Also, the rapid rate of industrialization and urbanization, coupled with infrastructural boom, has intensified the demand for paints & coatings. The increase in consumerism is also influencing the growth for this product in the region. Japan ranks among the major manufacturer and consumer of the product in Asia-Pacific region. The major companies that provide isononyl acrylate include ExxonMobil Chemicals, OSAKA Organic Chemical Industry Limited, BOC Sciences, KH Chemicals and Angene International Limited.
The major strategies adopted by these companies include contract manufacturing and research, that enables them to gain competitive edge in the global isononyl acrylate market.
- adhesive & sealants
- paints & coatings
- North America
- Asia-Pacific (APAC)
- Middle East & Africa (MEA)
- Latin America