Global 2-Ethylhexyl acrylate (2-EHA) Market Demand & Forecast Analysis, 2016-2032

2-Ethylhexyl acrylate (2-EHA) is a widely used acrylate and a crucial raw material in the production of adhesives, paints, coatings, and sealants. It finds particular application in pressure-sensitive contexts, where it is utilized alongside transparent substrates such as polyester films, cellulose, and vinyl acetate films. Additionally, it plays a role in the manufacturing of textiles, especially when a softer texture is desired, as well as in the production of printing inks. As of 2021, the global capacity for 2-ethylhexyl acrylate stood at 1017 kilo tons, and it is anticipated to reach 1250 kilo tons by 2026, primarily driven by capacity expansions in the Asia Pacific region. The global market for 2-ethylhexyl acrylate is projected to grow at a CAGR of 2.7% between 2022 and 2032. In most regions worldwide, the paints and coatings sector is expected to dominate the market, with its growth closely tied to the construction industry and the overall state of the economy. Other significant applications impacting the 2-ethylhexyl acrylate market include adhesives, sealants, and textiles.

Zhejiang Yonghe started its 40 kilo tons/annum 2-EHA plant during the second quarter of 2019. China is expected to witness a substantial increase in supply, as BASF recently announced the groundbreaking of its 2-EHA plant in Zhanjiang. With a production capacity of 100 kilo tons/annum, the plant is projected to become operational by 2025. The facility will be fully backward integrated, aiming to meet the rising regional demand for adhesives and coatings while ensuring a reliable supply and shorter lead times for customers in the region.

In February 2022, BPCL announced the dispatch of its first consignment of 2-ethylhexyl acrylate produced at its Kochi Refinery to Asian Paints and Visen Industries in India. The plant commenced production in 2021 and is currently the sole producer of 2-EHA in India, with a production capacity of 10 kilo tons/annum.

South Korea is a net exporter of 2-EHA, exporting 15.7 kilo tons of supplies in 2022. Shipments are primarily sourced to Netherlands, India, China, Belgium, and Thailand. The country also imports significant volumes, bought from China, Malaysia, and USA. LG Chem is the sole domestic manufacturer in the country, operating its 50 kilo tons/annum plant at Yeosu.

In terms of supply, North America is second biggest 2-ethylhexyl acrylate producer in the world after Asia Pacific. But in terms of 2-ethylhexyl acrylate consumption the region is third biggest consumer of 2-ethylhexyl acrylate. USA is the sole 2-EHA manufacturer in the region, with 245 kilo tons of capacity shared between BASF, Arkema and Dow. The region is a net exporter of 2-EHA, with shipments from USA primarily sourced to Belgium, South Korea, Canada, and Mexico. The country imports small volumes from Formosa Petrochemical (FPC)’s 2-EHA plant in Taiwan. Paints & coatings and adhesives & sealants collectively constitute for more than half the consumption in the region, with adhesives & sealants poised to witness the fastest growth during the forecast.

In terms of 2-ethylhexyl acrylate demand, Western Europe is the second largest market for 2-EHA after Asia Pacific. Manufacturing facilities are in Germany and France, both collectively responsible for the 180 kilo tons/annum production capacity in the region. The plants are operated by BASF at Ludwigshafen and Arkema at Carling. With domestic demand exceeding available supply, the region is a net importer of 2-ethylhexyl acrylates.

BASF is the sole manufacturer of 2-ethylhexyl acrylates in the Central & South American region. Located in Guaratinguetá, Brazil, the company converted its butyl acrylate plant into 2-EHA in 2015, following which production commenced in 2016. 2-EHA market in the region is forecast to grow with a compounded annual growth rate of 4.2% by 2032.

In 2021, Asia-Pacific was estimated to be the largest consumer of 2-ethylhexyl acrylate accounting for over 40% of the global 2-ethylhexyl acrylate market. China constituted the major demand source, driven by strong demand from its paints & coatings industry. Other Asian countries including Taiwan, Japan, India, Singapore, and South Korea also hold a significant share of the global 2-ethylhexyl acrylate market.

Paints & Coatings application dominates the global 2-ethylhexyl acrylate market. The application accounted for around over 35% of the global 2-ethylhexyl acrylate market in 2021 and it is further projected to register a CAGR of 3% in the long-term forecast owing to increase in use of 2-EHA in the construction, automotive and other industries. In automotive industry 2-EHA coating & adhesives are used for vehicle body coatings, adhesives for interior components. As the global automotive industry continues to grow, the 2-Ethylhexyl acrylate market in adhesives & sealants is projected to grow at CAGR of 3.1% between 2022-2032.

Building & Construction industry is primary consumer 2-ethylhexyl acrylate as coating & adhesives made from 2-EHA can withstand extreme weather conditions and heavy usage. Increase in residential and commercial construction, population growth, urbanization, green building initiatives, technological advancements and increase in renovation and retrofitting activities will further drive the global 2-ethylhexyl acrylate market in the long-term forecast.