HEA, HPA, HEMA, & HPMA Market Size Expected to Achieve USD 924.8 Million by 2031, Growing at a 3.0% CAGR| States Transparency Market Research, Inc.
Water-based Coatings to Determine the HEA, HPA, HEMA, & HPMA Market Outlook
Wilmington, Delaware, United States, Transparency Market Research, Inc., Aug. 01, 2024 (GLOBE NEWSWIRE) -- As per a recent report published by Transparency Market Research (TMR), the global HEA, HPA, HEMA, & HPMA market value is estimated to reach US$ 924.8 Mn by 2031 at a steady CAGR of 3.0% between 2023 and 2031.
Hydroxypropyl acrylate (HPA), 2-hydroxyethyl acrylate (HEA), hydroxypropyl methacrylate (HPMA), and 2-hydroxyethyl methacrylate (HEMA) are monomers that are extensively used in the manufacture of hydrogels, adhesives, coatings, hydrogels, and dental materials.
They can be categorized as clear liquids that undergo polymerization in order to form solid materials. HEMA provides adhesion, flexibility, and water absorption properties to polymers that come out of this process. HEMA is being increasingly preferred in the biomedical field in drug delivery systems and contact lenses.
Its common applications include automotive coatings, coating resins, paper coatings, architectural coatings, plastics, industrial coatings, adhesives & sealants, hygiene products, printing inks, textile finishes, modifiers, additives for transportation and oil production, and photosensitive materials.
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The HEA, HPA, HEMA, & HPMA Market Report by TMR highlights the factors that catalyze as well as restrain the industry growth. It also captures the latest trends and opportunities in the market.
HEA, HPA, HEMA, & HPMA Market - Key Takeaways
- Growth in Inclination Toward Water-based Coatings Fueling HEA, HPA, HEMA, & HPMA Market Size
The paints & coatings sector is witnessing a paradigm shift toward environmentally-friendly and low-VOC technologies such as powder and water-based coatings.
Water-based coatings are reported to be odorless as well as environmentally-friendly in comparison with solvent-based coatings. Therefore, they are preferred over solvent-based coatings.
The other factor contributing toward higher demand for water-based coatings is compliance with regulations laid down by regulatory bodies across North America, Europe, and Asia Pacific.
Usage of acrylate monomers such as HEA, HPA, HEMA and HPMA in water-based coating formulations improves their low-temperature flexibility, water resistance, and resistance against weathering and UV light.
Addition of a small quantity of methacrylic acid monomer to the formulation is preferred in order to provide latex stability and improve adhesion to substrate.
As per the Paint Quality Institute, water-based paints/coatings comprise close to 80% of household paints available in the market. Furthermore, solvent-based coatings and paints are at the risk of instability of supply and increase in feedstock prices.
- Increase in Usage of Acrylates in Sealants and Adhesives Augmenting HEA, HPA, HEMA, & HPMA Market Growth
Adhesives and sealants are extensively used in several industries such as building & construction, paper & packaging, consumer products, transportation, and leather & footwear.
Asia Pacific and Latin America are witnessing urbanization at a faster rate as compared to other economies. This urbanization encompasses not just commercial and residential construction but also development of infrastructure including bridges, railway stations, airports, dams, highways, and roads.
Acrylate monomers such as hydroxyethyl acrylate (HEA), acrylic acid, hydroxypropyl acrylate (HPA), and 2-ethylhexyl acrylate are used to obtain emulsion polymerization of pressure-sensitive adhesives.
Application of acrylate monomers such as HPA, HEA, HEMA, and HPMA in adhesives improves their chemical and physical properties, as they possess a higher shear and peel strength.
Specialty acrylate monomers as well as methacrylates are used in structural adhesives for improving adhesion as well as cohesion to metal. They also enhance mechanical toughness and improve bond strength.
HEA, HPA, HEMA, & HPMA Market Regional Insights
- Asia Pacific Holds Numero Uno Position
Asia Pacific accounts for the largest HEA, HPA, HEMA, and HPMA market share. This can be ascribed to the presence of a flourishing manufacturing sector in China, India, South Korea, and Japan.
Demand for innovative materials is rising in automotive, electronics, and building & construction sectors in Asia Pacific. As per the International Trade Administration, the added value of manufacturing vertical in South Korea is likely to increase to US$ 678 Bn in 2030 from US$ 437 Bn in 2018.
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Leading Players in HEA, HPA, HEMA, & HPMA Industry
The Dow Chemical Company, BASF SE, Mitsubishi Chemical Holding Corporation, Nippon Shokubai Co., Ltd., Osaka Organic Chemical Industry Ltd., Röhm GmbH, Polysciences, Inc., Tokyo Chemical Industry Co., Ltd., Changzhou Hickory Chemical Co., Ltd., Monomer-Polymer & Dajac Labs, Heze Chang Sheng Yuan Technology Co., Ltd., and Chizhou Fangda Science and Technology Co., Ltd. are the players leading the global landscape.
Key Strategies Adopted by HEA, HPA, HEMA, & HPMA Manufacturers
Companies operating in the global landscape are entering into inorganic modes of expansion such as mergers, acquisitions, and partnerships to reach out to a larger consumer base.
For instance, Evonik Industries’ business division, which includes the brand ‘PLEXIGLAS,’ has been operating as a part of Advent International Corporation since the last few years.
Market Segmentation
- Type
- Hydroxypropyl Acrylate (HPA)
- 2-Hydroxyehyl Acrylate (HEA)
- Hydroxypropyl Methacrylate (HPMA)
- 2-Hydroxyethyl Methacrylate (HEMA)
- Purity
- Purity 90%-95%
- Purity 95%-98%
- Purity Above 98%
- End-use
- Paints & Coatings
- Architectural Coatings
- Automotive Coatings
- Industrial Coatings
- Construction
- Plastics & Rubbers
- Personal Care
- Adhesives
- Printing Inks
- Chemical Intermediates
- Others
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