Crotonic Acid Market Analysis
Explore In-Depth Crotonic Acid Market Analysis, Covering Detailed Segmentation and Geographical Insights for the Period of 2019 to 2029
Report Code: 12140
Explore In-Depth Crotonic Acid Market Analysis, Covering Detailed Segmentation and Geographical Insights for the Period of 2019 to 2029
The adhesive resins category holds the largest market share and it is expected to demonstrate the highest CAGR during the forecast period. The high share of crotonic acid in adhesive resins is owing to its usage in the production of copolymer dispersions for adhesive resins to enhance their adhesion properties. In addition, the increasing demand for crotonic acid-based adhesive formulations in the automobile, packaging, textile, and electronics industries has propelled the market growth in this category.
The applications analyzed here are:
The demand for crotonic acid is the largest from the paints and coatings industry, and it is also projected to demonstrate the highest CAGR, of 11.0%, during the forecast period. The high share of the category is attributed to the fact that crotonic acid-based binders, used in paint and coatings, form a coating layer and hold pigments in place by binding them tightly. It also has the ability to form copolymers when mixed with other chemical compounds. Furthermore, the high demand for paints and coatings in the construction, automotive, and packaging industries has pushed the demand for crotonic acid.
In addition, crotonic acid monomer, when copolymerized with other compounds, results in the formulation of a thickener, which is used in the production of glossy emulsion paints. These glossy emulsion paints provide protective coatings and extra glowing effects to the exteriors and interiors of buildings. Thus, the rising demand for emulsion paints continues to shape the crotonic acid market.
The end users analyzed here are:
China is the largest market for crotonic acid globally, and it is expected to account for USD 560.2 million, in 2029. This trend is forecast to continue during the forecast period, with the country witnessing the fastest growth, of 10.8%. This will be owing to the increasing demand for paints and coatings for the renovation and repair of commercial and residential buildings. In addition, the high demand for crotonic acid as fungicides, intermediates, and plasticizers in the pharmaceutical, agricultural, and chemical industries has boosted the market growth in the country.
As per the U.S. International Trade Administration, China is the world’s largest construction market. The formulation of the 14th Five-Year Plan of China demonstrates its increased focus on expanding infrastructure projects in urbanization, transportation, water, and energy systems for which nearly USD 4.2 trillion is allocated to the development of new infrastructure projects. Live streaming online channels used in China, as sales platforms for cosmetics, electronics, and clothing are the most swiftly rising. It accounts for approximately 10% of Chinese e-commerce and is an essential part of a successful multi-channel sales stratagem. With such advancements and expanding economic opportunities are creating a surge in demand for crotonic acid in the nation.
The geographical breakdown is as follows:
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