Transparency Market Research in its new report titled, “Hydroxypropyl Acrylate Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 – 2026,” provides key insights on the hydroxypropyl acrylate market. The TMR report anticipates that the rapid expansion of the automotive industry in the last few years are boosting demand for hydroxypropyl acrylate market and the pattern is anticipated to continue during the forecast period i.e, 2018-2026.
According to the TMR report, hydroxypropyl acrylate is mainly used to manufacture cross-linkable polymer coatings and adhesives. It is produced and primarily used in closed systems. Its major use is either as a co-monomer in the manufacture of polymers or as a chemical reactant in the manufacture of chemical intermediates. Hydroxypropyl acrylate is used in the production of pressure sensitive adhesives, ion exchange resins, emulsion polymers, resins for radiation-curable coatings, heat-curable automotive clear coats, etc. Increase in demand for automotive across all regions is driving demand for hydroxypropyl acrylate. However, severe health concerns associated with hydroxypropyl acrylate may hamper its demand. Excessive exposure to hydroxypropyl acrylate may cause severe eye and skin irritation. Injuries related to hydroxypropyl acrylate may be slow to heal. However, direct consumer exposure to hydroxypropyl acrylate is negligible as it is used as co-monomer in polymers.
Hydroxypropyl acrylates is available in the liquid form. Based on application, the hydroxypropyl acrylate market can be segmented into architectural coatings, automotive top coatings, photocure resins, adhesives, and others. The automotive top coatings segment is anticipated to dominate the hydroxypropyl acrylate market during the forecast period. Expansion in the automotive industry in the last few years are boosting demand for hydroxypropyl acrylate market. The architectural coatings segment is anticipated to constitute a major share of the hydroxypropyl acrylate market during the forecast period. Increase in construction activities, especially in Asia Pacific, is anticipated to drive the hydroxypropyl acrylate market in the region in the near future.
Based on region, the hydroxypropyl acrylate market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific held a key share of the hydroxypropyl acrylate market in 2017. It is likely to continue to dominate the market during the forecast period. Asia is a prominent producer and consumer of automotive vehicles. Expansion in the automotive industry is anticipated to boost demand for hydroxypropyl acrylate market during the forecast period. The hydroxypropyl acrylate market in Asia Pacific is expected expand at a significant rate during the forecast period. The hydroxypropyl acrylate market in North America and Europe is at a mature stage and is anticipated to expand at a moderate pace between 2018 and 2026. The hydroxypropyl acrylate market in other regions such as Latin America and Middle East & Africa is expected to expand at a sluggish rate in the near future. Major companies operating in the hydroxypropyl acrylate market are profiled in this report to give a better competitive analysis and these include DowDuPont Inc., Polysciences, Inc., Hangzhou Hickory Chemical Co., Ltd, and Nippon Shokubai Co., Ltd.
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