India Butyl Acrylate Market Size Expands at CAGR of 7% to Surpass Value of USD 534 Million and Volume of 301,000 Tons by 2030

Published | 28 February 2024

India Butyl Acrylate Market is flourishing due to the growing demand for paints & coatings and adhesives & sealants from thriving construction industry driven rising disposable income.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the India Butyl Acrylate Market size by value at USD 432.99 million in 2023. During the forecast period between 2024 and 2030, BlueWeave expects the India Butyl Acrylate Market size to expand at a CAGR of 7.85% reaching a value of USD 534.03 million by 2030. The Butyl Acrylate market in India is propelled by the increasing application as a solvent in the paints and coatings, as well as adhesive and sealants sectors, predominantly within the expanding construction and automotive industries. India has witnessed a rising trend in residential and commercial development in recent years, driven by increasing investments and evolving lifestyles. Also, butyl acrylate plays a crucial role as an ingredient in pressure-sensitive adhesives, widely employed by the textile and construction sectors. Its presence in PVC modifiers and molding or extrusion additives further enhances its application in the plastics sector. With the upswing in construction activities and infrastructure development, there is an anticipated surge in demand for commodities like paints & coatings and plastics, consequently boosting the overall demand for butyl acrylate over the forecast period.

By volume, BlueWeave estimated the India Butyl Acrylate Market size at 261.66 thousand tons in 2023. During the forecast period between 2024 and 2030, BlueWeave expects the India Butyl Acrylate Market size by volume is projected to grow at a CAGR of 7.01% reaching the volume of 301.09 thousand tons by 2030. The increasing use of butyl acrylate in the production of thermoplastic ethylene acrylate copolymers (EAC), containing up to 35% butyl acrylate, stands out as pivotal factor contributing to market expansion. The combination of butyl acrylate with other monomers, such as vinyl acetate, methyl methacrylate, acrylic acid, styrene, and other acrylate ester monomers, opens up possibilities for diverse copolymer compositions.

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Opportunity – Expanding automotive industry

The expanding automotive industry in India is anticipated to drive the need for butyl acrylate. The compound plays a crucial role in polymer manufacturing, specifically contributing to the production of car dashboards and leather seats. Additionally, butyl acrylate serves as a key component in the production of sealants, utilized in various automotive applications such as within the trunk, hood, doors, front dash, and on both the interior and exterior metal joints of vehicles. The global surge in motor vehicle production stands as a significant factor contributing to the anticipated growth of the butyl acrylate market in the coming years.

Impact of Escalating Geopolitical Tensions on India Butyl Acrylate Market

Increasing geopolitical tensions can have a multifaceted impact on the India Butyl Acrylate Market. The surge in upstream values, particularly crude oil, is exerting pressure on downstream derivatives, thereby elevating inflationary concerns for consumers. Butyl acrylate prices in the domestic market have responded with buoyancy, driven by multiple elements contributing to these fluctuations. A substantial driver for this upward trajectory is the notable increase in crude oil values, impacting critical feedstocks like n-Butanol and Acrylic Acid. The exponential rise in crude oil prices is a consequence of global uncertainties, with low inventories in the USA driving up spot prices of Brent. Simultaneously, geopolitical tensions between Russia and Ukraine have further heightened global contract purchases. Additionally, increased consumption in China, post-easing of the dual energy policy and winter Olympics-related restrictions, has influenced the overall pricing dynamics for crude oil globally. Also, heightened demand fundamentals for Butyl Acrylate in the downstream derivative segment contribute to the overall upward price trend in the Indian market.

India Butyl Acrylate Market

Segmental Information 

India Butyl Acrylate Market – By Application

On the basis of application, the India Butyl Acrylate Market is divided into Paints & Coatings, Adhesives & Sealants, Chemical Synthesis, Plastic Additives, and Textiles segments. The paints & coatings segment holds the highest share in the India Butyl Acrylate Market by application closely followed by the adhesive & sealants segment. It is primarily due to their growing applications in the construction and automotive industries. Additionally, the rising trend of substituting old coatings with water-based alternatives in combination with the increased usage of adhesives further contributes to the sustained leadership of these industries in the market.

India Butyl Acrylate Market – By Region

Geographically, the India Butyl Acrylate Market is divided into North India, South India, East India, and West India regions. West India holds the highest market share and is expected to maintain its dominance during the forecast period. Its dominance is attributed to key consumption in states like Gujarat and Maharashtra, driven by prominent companies, such as Asian Paints. Until FY2022, India relied on imports to meet the demand for butyl acrylate.

Competitive Landscape

The India Butyl Acrylate Market is fragmented, with numerous players serving the market. The key players dominating the India Butyl Acrylate Market include Bharat Petroleum Corporation Limited, BASF, Vizag Chemical, Dhalop Chemicals, Dow, Arkema, Otto Chemie Pvt Ltd, KR Chemicals, and LG Chem. The key marketing strategies adopted by the players are facility expansion, product diversification, alliances, collaborations, partnerships, and acquisitions to expand their customer reach and gain a competitive edge in the overall market.

Don’t miss the business opportunity of the India Butyl Acrylate Market. Consult our analysts to gain crucial insights and facilitate your business growth.

The report's in-depth analysis provides information about growth potential, upcoming trends, and the India Butyl Acrylate Market statistics. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the India Butyl Acrylate Market along with industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyses the growth drivers, challenges, and competitive dynamics of the market.

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