Global Isononyl Acrylate Market: Highlights
·
The
global isononyl acrylate market is projected to grow at a CAGR of around 2.5% between 2019 and 2027.
Growth in the global adhesives industry is expected to provide the necessary
momentum to the isononyl acrylate market in the
next few years.
·
Isononyl
acrylate is an acrylic ester (acrylate), which has low glass transition
temperature. Acrylic esters are largely employed in pressure-sensitive tapes.
Furthermore the paints & coatings, is another key application industry,
which has been expanding steadily since the last few years due to extensive
demand from developed and developing regions.
·
Factors
such as expensive nature of isononyl acrylate and availability of cheaper
substitutes such as 2EHA, butyl acrylate, methyl acrylate and ethyl acrylate
are anticipated to hinder the growth of the isononyl acrylate market during the
forecast period. Furthermore, High cost of production and long lead time are
also expected to significantly obstruct the growth of the global isononyl
acrylate market during the forecast period.
Global Isononyl Acrylate Market: Segmental Trends
·
In terms
of applications, adhesives was the largest segment of the global isononyl
acrylate market, accounting for nearly 96% share in 2018. The
segment is anticipated to continue its dominance during the forecast period due
to continual growth from the pressure sensitive adhesive tapes market.
·
Paints
and coatings is another key application segment of the isononyl acrylate
market. The segment is estimated to witness the moderate growth in the next few
years due to the steady increase in demand for paints and coatings in developed
regions. Isononyl acrylate is usually used in the elastic paints applications.
·
The rise
in demand for specialty paints has driven the market for specialty raw
materials required to manufacture these paints and coatings. Several acrylic
esters have traditionally been used in paints and coatings as raw materials,
owing to elastic and adhesive nature of acrylic esters.
·
Acrylates
such as 2-ethylhexyl acrylates (2EHA), butyl acrylates, and ethyl acrylates are
commercially used in the paints & coatings industry. Among these, 2EHA is a
more commercially used raw material. The low glass transition temperature of
2EHA imparts efficiency to elastic paints and coatings.
Global Isononyl Acrylate Market: Regional
Highlights
·
Asia
Pacific dominates the isononyl acrylate market, followed by Europe and North
America. Significant expansion in the adhesives and sealants application segments
in developing regions is anticipated to be a key factor driving the isononyl
acrylate market in these regions.
·
Japan and
China were major markets for isononyl acrylate in Asia Pacific in 2018.
The adhesives segment has undergone a transformation over the past few years.
The development of pressure-sensitive adhesive tapes is driving the market in
the region. This trend is estimated to continue during the forecast period.
·
Isononyl
acrylate is utilized to control the rheological properties of paints and
coatings. Advancements in the construction industry are propelling this sector
in Middle East & Africa. However, it is projected to expand at a sluggish
rate, owing to the availability of cheaper substitutes.
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Key Developments in Global Isononyl Acrylate Market
·
Companies
like Nitto Denko Corporation have developed acrylic adhesives based on isononyl
acrylate as the main monomer due to its phenomenal characteristics.
·
In 2014, LG
Chem, Ltd. filed a patent for the invention related to an acrylic adhesive tape
and applying same on flat panel display. Isononyl acrylate may be used as
acrylic acid based ester monomer for adhesion and cohesion force of the foam
tape.
·
In 2011,
3M Innovative Properties Company registered a patent under the name of
pressure-sensitive adhesives derived from 2-alkyl alkanols.
·
In 1983,
Nissan Chemicals registered a patent under the name of isononyl acrylate
monomer composition.
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Global Isononyl Acrylate Market: Competition
Landscape
·
The
global isononyl acrylate market is highly consolidated. Key players include BOC
Sciences, Osaka Organic Chemical Industry Ltd, and Angene International
Limited.
·
Japan is
the major manufacturer of isononyl acrylate. Other Asian manufacturers are
trying to enter the isononyl acrylate market however high cost of production
and high degree of competition acts as a major barrier for the new entrant.
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