Acrylic Acid Market by Derivative (Acrylic Esters, Acrylic Polymers, Ammonium Polyacrylate), Applications (Acrylic Esters, Acrylic Polymers), End-User - Global Forecast 2024-2030

Acrylic Acid Market by Derivative (Acrylic Esters, Acrylic Polymers, Ammonium Polyacrylate), Applications (Acrylic Esters, Acrylic Polymers), End-User - Global Forecast 2024-2030

The Acrylic Acid Market size was estimated at USD 12.89 billion in 2023 and expected to reach USD 13.68 billion in 2024, at a CAGR 6.63% to reach USD 20.21 billion by 2030.

Acrylic acids are used in producing acrylic esters and resins, primarily used in coatings and adhesives in various industries. The need for improved performance characteristics in various sectors such as construction, manufacturing, and healthcare industries further accelerates the consumption of acrylic acid-based products. However, market growth faces challenges due to fluctuating raw material prices, stringent environmental regulations, and health hazards associated with exposure to acrylic acid. Furthermore, increasing investments in R&D for bio-based alternatives and exploring novel applications for acrylic acid derivatives are expected to generate lucrative opportunities in the future.

Regional Insights

The Americas region showcases a robust demand for acrylic acid due to its extensive applications in personal care products, adhesives, paints, and coatings. The presence of regional manufacturers and expanding end-user industries are developing demand for acrylic acid in the Americas. Stringent environmental regulations in Europe, the Middle East, and Africa have led to research initiatives to develop bio-based alternatives to petrochemical-derived acrylic acid. The Middle East & African region's acrylic acid market is characterized by a rapidly expanding construction industry, driving demand for paint and coating products that utilize acrylic acid polymers. The Asia Pacific region represents high consumption and production capacity for acrylic acid. Rapid industrialization and urbanization have spurred demand across multiple sectors, such as textiles, detergents, and water treatment. The government's initiatives to curb pollution have led to the development of cleaner technologies for acrylic acid production.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Acrylic Acid Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers

• Increasing building and construction activities worldwide
• Applications in plastic manufacturing industries
• Extensive use in production of hygienic medical products

Market Restraints

• Volatility in raw material prices and concerns regarding health hazards

Market Opportunities

• Rise in R&D and advancements in acrylic acid production process
• Significant investments in water treatment projects

Market Challenges

• Constraints associated with acrylic acid bioproduction

Market Segmentation Analysis

• Derivative: Wide applications of acrylic esters in construction industry
• Application: Extensive use of acrylic acids as adhesives & sealants in consumer goods sector
• End User: Growing demand for acrylic acid for manufacturing of paints & chemicals worldwide

Market Disruption Analysis

• Porter’s Five Forces Analysis
• Value Chain & Critical Path Analysis
• Pricing Analysis
• Technology Analysis
• Patent Analysis
• Trade Analysis
• Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Acrylic Acid Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Acrylic Acid Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

Lubrizol launches New Rheology Modifier Carbopol SC-800

Lubrizol Life Science Beauty developed Carbopol SC-800 polymer to enhance the viscosity and stability of cleansers in mild and sulfate-free surfactant formulations. This polymer has undergone careful optimization to provide efficient viscosity, long-term thermal stability, and exceptional clarity without compromising foam quality. This polymer's solution is particularly suitable for shower gels, shampoos, and facial cleansers, as it effortlessly suspends natural beads, scrubs, and other cleansing elements.

Inauguration Ceremony Heldfor a New Acrylic Acid Facility in Indonesia

Nippon Shokubai Co., Ltd. established a new acrylic acid (AA) facility in Cilegon, Indonesia, with a production capacity of 100,000 MT/Y. Acrylic acid (AA) is primarily utilized by the Nippon Shokubai Group for the production of superabsorbent polymers (SAP) used in disposable diapers. In order to meet the growing demand for acrylic acid, the Nippon Shokubai Group plans to enhance its global AA/SAP supply network by expanding its AA production capacity.

BASF Breaks Ground on Acrylic Acid Complex at Zhanjiang Verbund Site in China

BASF has been constructing a new production complex at its Verbund site in Zhanjiang, China, which includes plants for glacial acrylic acid, butyl acrylate, and 2-ethylhexyl acrylate. This strategic investment enhances BASF's presence in key markets, allowing for more efficient support of customer growth.

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Acrylic Acid Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Acrylic Acid Market, highlighting leading vendors and their innovative profiles. These include Arkema Group, BASF SE, Bharat Petroleum Corporation Limited, Celanese Corporation, Central Drug House (P) Ltd., Covestro AG, Daicel Corporation, Dow Chemical Company, Eastman Chemical Company, Evonik Industries AG, INEOS AG, LG Chem Ltd., Libra Speciality Chemicals Limited, Lubrizol Corporation, LyondellBasell Industries Holdings B.V., Mitsubishi Chemical Corporation, Mubychem Group, NIPPON SHOKUBAI CO., Ltd., Parasol Chemicals Limited, Shandong Chuangying Chemical Co., Ltd., SIBUR International GmbH, Solvay SA, Wacker Chemie AG, WALGLAS GROUP, and WEGO CHEMICAL GROUP.

Market Segmentation & Coverage

This research report categorizes the Acrylic Acid Market to forecast the revenues and analyze trends in each of the following sub-markets:

• Derivative
• Acrylic Esters
• 2-Ethylhexyl Acrylate
• Benzyl Acrylate
• Butyl Acrylate
• Ethyl Acrylate
• Hydroxypropyl Acrylate
• Methyl Acrylate
• Specialty Acrylates
• Acrylic Polymers
• Acrylic Elastomers
• Superabsorbent Polymers
• Water Treatment Polymers
• Ammonium Polyacrylate
• Polycyanoacrylate
• Applications
• Acrylic Esters
• Adhesives & Sealants
• Detergents
• Plastic Additives
• Surface Coatings
• Textiles
• Acrylic Polymers
• Adult Incontinence & Personal Care Products
• Diapers & Training Pants
• Water Treatment
• End-User
• Consumer Goods
• Healthcare & Hospitals
• Paints & Chemical
• Plastic
• Region
• Americas
• Argentina
• Brazil
• Canada
• Mexico
• United States
• California
• Florida
• Illinois
• New York
• Ohio
• Pennsylvania
• Texas
• Asia-Pacific
• Australia
• China
• India
• Indonesia
• Japan
• Malaysia
• Philippines
• Singapore
• South Korea
• Taiwan
• Thailand
• Vietnam
• Europe, Middle East & Africa
• Denmark
• Egypt
• Finland
• France
• Germany
• Israel
• Italy
• Netherlands
• Nigeria
• Norway
• Poland
• Qatar
• Russia
• Saudi Arabia
• South Africa
• Spain
• Sweden
• Switzerland
• Turkey
• United Arab Emirates
• United Kingdom

Please Note: PDF & Excel + Online Access - 1 Year