DUBLIN, September 16, 2021--(BUSINESS WIRE)--The "Crotonic Acid Market Research Report: By Application, End User - Global Industry Analysis and Growth Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The increasing consumption of crotonic-acid-based dispersions in paints, coatings, and adhesives will steer the crotonic acid market at a CAGR of 7.9% during the forecast period (2021-2025). Adhesives containing this acid offer rapid solidification, owing to which their application has significantly surged in high-speed manufacturing lines, such as those of packaging and textiles. The soaring demand for these adhesives will propel the market to $853.7 million by 2025 from $592.0 million in 2020.
Thus, the expansion of the adhesives industry is one of the key factors contributing to the crotonic acid market growth. The acid is used as a comonomer with vinyl acetate, to produce copolymers that are primarily utilized in the formulation of adhesives. For example, hot-melt adhesives are usually developed by grafting crotonic and acrylic acids onto metallocene ethylene-octene copolymers. Additionally, technological advancements have led to the preparation of improved adhesives that offer exceptional flexibility, performance, and bond strength under a wide temperature range.
Another key factor driving the market is the spurring demand for paints and coatings. This acid is a vital ingredient of these products as it can form copolymers when blended with other chemical compounds. Additionally, when the crotonic acid monomer is copolymerized with other compounds, it results in a thickener, which is applied in the manufacturing of glossy emulsion paints. These paints offer extra glow and protection to the interiors and exteriors of buildings. Thus, the soaring demand for glossy emulsion paints will facilitate market growth in the forecast years.
The categories under the application segment of the crotonic acid market include coatings, fungicides, adhesive resins, plasticizers, and intermediates. Among these, the adhesive resins category dominated the market in 2020, and it is expected to maintain its lead throughout the forecast period. This is due to the rising application of crotonic acid in the manufacturing of copolymer dispersions for adhesive resins. Thus, the spurring demand for these adhesive formulations in the electronics, textile, packaging, and automobile industries will define the positive growth outlook for this category.
Further, the end user segment of the crotonic acid market is categorized into chemical, pharmaceutical, paints and coatings, automobile, packaging, textile, and electronics. Among these, the paints and coatings category held the largest market share in 2020, and it is expected to register the fastest growth in the forecast years. This can be owed to the exponential use of crotonic-acid-based binders in paints and coatings to hold the pigments in place by binding them and form a coating layer. The spiking demand for paints and coatings from the automotive, packaging, and construction sectors will fuel the growth of this category.
Globally, China dominated the crotonic acid market during the historical period (2016-2020), and it is expected to reflect the same trend in the forecast years. Additionally, the Chinese market is also projected to demonstrate the fastest growth throughout the forecast period. This can be ascribed to the magnifying demand for adhesives and paints and coatings for the repair and renovation of residential and commercial buildings. Moreover, the growing application of crotonic acid as a plasticizer, fungicide, and intermediary in the chemical, agriculture, and pharmaceutical industries will boost the market growth in China.
Growing demand for paints & coatings
Rapid growth in the adhesives industry
Impact analysis of drivers on market forecast
Short shelf life
Impact analysis of restraints on market forecast
Tianjin Jinhui Pharmaceutical Group Co. Ltd.
Kono chem co. Ltd.
WeylChem International GmbH
Zhengzhou Tuozhixiang Trading Co. Ltd.
Central Drug House (P) Ltd.
Henan Tianfu Chemical Co. Ltd.
ALB Technology Limited
Penta Manufacturing Company
Spectrum Chemical Manufacturing Corporation
For more information about this report visit https://www.researchandmarkets.com/r/jwm10z
View source version on businesswire.com: https://www.businesswire.com/news/home/20210916005800/en/
Laura Wood, Senior Press Manager
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