Crotonic Acid Market Overview, Leading Players and Future Scope

Crotonic acid is one of the prime ingredients used in the production of paints and coatings, due to its ability to form copolymers when combined with other chemical compounds. Moreover, when crotonic acid monomer is copolymerized with other compounds, it leads to the formulation of a thickener, which is utilized in glossy emulsion paints. Such paints offer protective coatings and additional glowing effect to the interiors and exteriors of buildings. Thus, the rising demand for emulsion paints will boost the production of the acid in the coming years.

Moreover, the rapid growth in the adhesives industry will drive the crotonic acid market at 7.9% CAGR during 2021–2025. The market is expected to grow from $592.0 million in 2020 to $853.7 million by 2025. Copolymers obtained after mixing crotonic acid with vinyl acetate are used in the formulations of adhesives. For instance, the production of hot melt adhesives usually involves the grafting of crotonic acid and acrylic acid on to metallocene ethylene–octene copolymers. Moreover, technological developments have resulted in the formulation of improved adhesives that offer phenomenal bond strength, performance, and flexibility under a wide range of temperature. 

Apart from these, crotonic acid is also used as an intermediate in the pharmaceutical sector to produce crotamiton drug, which is utilized as an acaricide in the treatment of scabies. Furthermore, this acid also finds wide applications in other end-use industries like packaging and textile, owing to its rapid solidification characteristic, which is required for high-speed manufacturing in these sectors. Thus, the growth of the pharmaceutical, packaging, and textile industries will amplify the consumption of the acid in the foreseeable future.

The application segment of the crotonic acid market is classified into intermediates, coatings, fungicides, adhesive resins, and plasticizers. Among these, the adhesive resins category held the largest market share in 2020 and it is expected to retain its dominance in the forecast years. This can be ascribed to the usage of the acid copolymer dispersions, which are used in adhesive resins for improving their adhesion properties. Moreover, the mounting demand for crotonic acid-based adhesive formulations in the textile, electronics, packaging, and electronic sectors has also fueled the market growth in this category.

Thus, the growing consumption of adhesives and paints and coatings in various sectors will accelerate the production of crotonic acid in the foreseeable future.

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