Acrylic Acid Market

Global Acrylic Acid Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2024-2030, The global acrylic acid market is experiencing substantial growth, primarily propelled by escalating demand in the polymer, engineering plastics, and paints industries.

The Global Acrylic Acid Market is valued at USD 13.8 Billion in 2024 and is expected to reach USD 19.5 Billion by 2030 with a CAGR of 5.1% over the forecast period.

Scope of Global Acrylic Acid Market Report-

Acrylic acid is an organic compound that is a highly reactive carboxylic acid that reacts with itself to form polyacrylic acid and is used as an absorbent in hygiene products. Acrylic acid is an important polymer as a raw material for many industrial and consumer products and is also used in surface coatings, textiles, adhesives, paper treatment, elastomers, paints, polishes, baby diapers, hygienic medical products, product detergents, and super absorbent polymers. Acrylic acid is also used in the production of sanitary medical devices, detergents, and wastewater treatment chemicals. Acrylic acid is used in the manufacture of plastics, paint formulations, leather finishing, paper coatings, and medicine or dentistry for dental plates, synthetic teeth, and orthopedic cement.

The COVID-19 outbreak has negatively affected the acrylic acid market in the year 2020. The chemical industry was expressively affected by COVID-19. Additionally, major companies such as paints, engineering plastics, automotive, textiles, coatings, and aerospace were unable to sell due to the strict lockdown. The industries had faced many challenges regarding labor shortages, transportation, and raw material shortages, so acrylic acid market demand decreased. Additionally, the construction industry has faced difficulties due to the COVID-19 epidemic, including logistics and a shortage of raw materials. As a result, the demand for global acrylic acid has decreased during the COVID-19 pandemic.

The global acrylic acid market is segmented based on derivative type and end-user. Based on derivative type, the acrylic acid market is segmented into acrylic esters, acrylic polymer, and others. Based on acrylic esters, the acrylic acid is sub segmented into the methyl acrylate, ethyl acrylate, butyl acrylate, and ethylhexyl acrylate. Based on acrylic polymer, the acrylic acid is sub segmented into acrylic elastomers, super absorbent polymers, and water treatment polymers. Based on end-user, the acrylic acid market is segmented into surface coatings industry, adhesives and sealants industry, plastic additives industry, water treatment industry, textiles industry, surfactants industry, and others.

The regions covered in this global acrylic acid market report are Asia-Pacific, North America, Europe, and the Rest of the World. Based on a country level, the market of global acrylic acid is subdivided into the U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, Southeast Asia, Middle East Asia (UAE, Saudi Arabia, Egypt) GCC, Africa, etc.

Key Players–

• BASF SE
• Arkema S.A.
• Ashland
• Cargill, Incorporated
• Dow Chemical
• Evonik Industries Ag
• Kemira Oyi
• LG Chem
• Lubrizol Corporation
• Mitsubishi Chemical Corporation
• Myriant Corporation
• Nippon Shokubai Co., Ltd.
• SIBUR
• Sanghavi Chemicals
• Dhalop Chemicals
• Others

Acrylic Acid Market Segmentation: –

By Derivative Type:

• Acrylic esters

  • Methyl acrylate
  • Ethyl acrylate
  • Butyl acrylate
  • Ethylhexyl acrylate

• Acrylic polymer

  • Acrylic elastomers
  • Super absorbent polymers
  • Water treatment polymers

• Others

By End-User:

• Surface coatings industry
• Adhesives and sealants industry
• Plastic additives industry
• Water treatment industry
• Textiles industry
• Surfactants industry
• Others

News: -

BPCL ships first consignment of acrylic acid from Kochi petchem plant

On April 14^th, 2021- BPCL had forwarded the first consignment of acrylic acid from its Propylene derivative petrochemical complex at Kochi Refinery. The first obtaining of acrylic acid is used in hygienic medical products, detergents, and wastewater treatment chemicals, plastics, coatings, adhesives, elastomers, paints, and polishes, were prepared to Rossari Biotech and Visen Industries.

Global Acrylic Acid Market Dynamics–

Increasing demand in the engineering plastics and paint industries is driving the growth of the acrylic acid market. In the plastic and paint industries, acrylic acid is the primary raw material in the manufacture of plastics and paint formulations. Because it has a transparent plastic material with outstanding strength, stiffness, and optical clarity. Acrylic acid is widely used in the manufacture of plastic and paint. Painting is one of the growing trends in interior decoration and many developers and consumers are increasing demand. For example, according to Indian brand equity foundation in July 2022 the total plastics exports in 2021-22 recorded a sharp growth and increased by 35.4% over the last year and the increasing exports of plastics and related materials valued at US$ 13.34 billion. Additionally, according to coating world on 2021 Indian paint and coating industry account for more than 65% of the overall paints and coating market and 75% of the decorative paints market. Hence, acrylic acid is a key ingredient in the formulation of acrylic paints, coatings, and adhesives. These products are favored for their versatility, fast-drying properties, and the ability to adhere to various surfaces. With the construction and renovation sectors on the upswing, the demand for acrylic-based paints and coatings is escalating, further boosting the acrylic acid market.

However, the acrylic acid manufacturing process's initial investment is very high, as is the higher amount of investment required to operate such businesses. Additionally, acrylic acid is a highly dangerous substance, and it may require several pollution clearances for commercial production, so several health hazards are related to acrylic acid, such as skin, eye burns, and nasal irritation. All these factors may hamper the industry's growth during the forecast timeframe. Furthermore, companies in the global acrylic acid market are raising their product development and investment revenue opportunities to gain an edge over competitors.

Global Acrylic Acid Market Regional Analysis–

Why Asia Pacific is One of the Leading Region in Global Acrylic Acid Market?

Geographically, Asia-Pacific accounts for the leading share in the global acrylic acid market due to the rising growth observed in the construction sector and new infrastructure projects, which is driving the overall acrylic acid market, It is widely used in the construction industry for such things as solid cladding, panel materials, paints, resins, sealants, adhesives and adhesive tapes, flashing materials, concrete, mortars, renders, asphalt, baths, shower trays, and sinks, flooring, carpets, light fixtures, and many others. Therefore, in China and India, investment is also increasing at a strong rate due to the growing investments in the construction and infrastructure sectors. he construction industry in India is experiencing rapid expansion; however, approximately 80% of its supply side remains characterized by fragmentation and lack of organization.

How Acrylic Acid is Gaining Popularity in North America Region?

North America is the second-most important region in the acrylic acid market, driven by rising demand for hygienic medical products. Acrylic acid is used in the production of hygienic medical products, such as dental plates, artificial teeth, orthopaedic cement, baby diapers, nappies, sanitary napkins, and others. The increasing demand for personal hygiene medical products in the United States is due to increased personal hygiene awareness and disposable income, which lead to a leading share in personal hygiene medical products. For example, according to the United States Bureau of Labor Statistics on April 18th, 2022, dental hygienists earned a median annual salary of $76,810. Additionally, Acrylic acid and its derivatives, particularly as superabsorbent polymers, are valued in these medical and hygiene applications due to their ability to absorb and retain large amounts of liquids, as well as their biocompatibility and safety. Therefore, the hygienic medical products industry is driving the growth of the global acrylic acid market.

Key Benefits of Global Acrylic Acid Market Report–

• Global Acrylic acid market report covers in-depth historical and forecasts analysis.
• Global Acrylic acid market research report provides detailed information about market introduction, market summary, global market revenue (Revenue USD), Market Drivers, Market Restraints, Market opportunities, Competitive Analysis, Regional and Country Level.
• Global Acrylic acid market report helps to identify opportunities in the marketplace.
• Global Acrylic acid market report covers extensive analysis of emerging trends and competitive landscape.

By Regional & Country Analysis:

• North America

• U.S.
• Mexico
• Canada

• Europe

• UK
• France
• Germany
• Italy

• The Asia Pacific

• China
• Japan
• India
• Southeast Asia

• South America

• Brazil,
• Argentina
• Columbia

• The Middle East and Africa

• GCC
• Africa
• Rest of the Middle East and Africa

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