Isobornyl Acrylate Market Size, Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI4343
Isobornyl Acrylate Market size will rapidly grow during the forecast period owing to increasing application in chemical industry across the globe. Isobornyl Acrylate is widely employed in the chemical business as an intermediary for the synthesis of polymers. The product is mostly used in ultraviolet and electronic beam cured inks, coatings, and adhesives. The growing coatings, adhesives and inks industry across globe is projected to positively contribute to the overall isobornyl acrylate market size during the review period.
Isobornyl acrylates possess excellent qualities such as water resistance, adhesion and scratch resistance which makes them highly desirable in coatings industry. Moreover, it also aids in maintaining high elongation in urethane acrylates and enhance the flexibility in coatings and inks. The growing construction expenditure across the globe coupled with the increased demand for UV and EB coatings is projected to be the major factors driving the global market. Additionally, the growing demand for automotive inks and coatings shall further boost product demand during the forecast period. However, prolonged exposure to the product can cause adverse effects which may pose threat to the isobornyl acrylate market growth over the forecast duration.
Isobornyl acrylate and isobornyl methacrylate has wide significance commercially and are widely employed in adhesives, coatings, cosmetics and drug delivery applications. These polymers find its application as construction material mainly for microfluidic devices. The properties such as low viscosity, good resolution and optical patterning makes them ideal as construction materials.
On the basis of application, the global Isobornyl acrylate market has been segmented into coatings, inks, adhesives, drug delivery and others. Among the aforementioned segments, the coating segment led the market in 2018 and shall exhibit similar trends throughout forecast period. The growing demand for coatings mainly in the developing nations is likely to generate substantial revenue to the segment during the review period. Moreover, the growing construction spending mainly in Asia Pacific shall further propel product demand during the forecast timeframe. According to the National Investment Promotion & Facilitation agency, by 2025 Indian construction market is projected to emerge as the third largest industry globally. The construction industry in India in terms of value is projected to record a CAGR of 15.7% to reach USD 738.5 billion by 2022. This shall fuel the demand for coatings, which in turn shall positively influence the market size during the forecast timeframe.
Inks and adhesive were other important segments in 2018. Isobornyl acrylate aids in providing resiliency, hardness and flexibility in adhesives and inks. Some of the niche product application include drug delivery applications. The product is widely used for the control release of anti-cancer chemotherapy drugs such as paclitaxel from coronary stents.
Asia Pacific is likely to expand at a significant CAGR in the global isobornyl acrylate market mainly due to rising product demand in pharmaceutical and coatings applications. The shifting of major coatings manufacturers in countries such as China and India shall further augment the market size during the forecast years. Moreover, the presence of major manufacturers of isobornyl acrylate in the region shall further accelerate product demand over the forecast timespan. North America and Europe are other prominent markets owing to the presence of major coatings and adhesive manufacturing companies.
Some of the prominent market share contributors in the isobornyl acrylate market include, Ashland, Chase Electronic Coatings, Mitsubishi Rayon Co., Ltd, IGM and Tianjin Toyo Ink. Major manufacturers are constantly adopting various organic and inorganic growth strategies to ensure a larger market share. For instance, Evonik in 2013 expanded its production capacity of VISIOMER IBOMA isobornyl methacrylate by over 20%.
By Application, 2014-2025 (Tons) (USD Million)
- Drug delivery
The above information has been provided for the following regions and countries:
- North America
- Latin America
- South Africa
- Saudi Arabia
- Chase Electronic Coatings
- Mitsubishi Rayon Co., Ltd
- Tianjin Toyo Ink
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