Acrylic Acid Market by Derivative Type (Acrylic Esters, Acrylic Polymer, and Others), and End-User (Diapers, Surface Coatings Industry, Adhesives and Sealants Industry, Plastic Additives Industry, Water Treatment Industry, Textiles Industry, Surfactants Industry, and Others): Global Opportunity Analysis and Industry Forecast, 2021–2030: Global Opportunity Analysis and Industry Forecast, 2021–2030
The global acrylic acid market was valued at $12.0 billion in 2020, and is projected to reach $19.2 billion by 2030, growing at a CAGR of 4.8% from 2021 to 2030.
Acrylic acid is the building block of chemicals and produced from propylene. There are two types of acrylic acids, namely technical acrylic acid and glacial acrylic acid. Acrylic acid acts as a precursor for many industrial applications such as coatings, adhesives, sealants, dispersants, and thickeners, which are used in many industries such as automobile, building, construction, telecommunication, consumer goods, etc. Commercialization of bio-based acrylic acid would ward-off government issues regarding environmental protection and give a thrust to the acrylic acid market.
Renewable raw derivative types would reduce the dependency on the fossil fuel resources. As the renewable raw derivative types are cheaper than fossil fuel resources, the manufacturing cost of acrylic acid would witness price correction. Due to this reason, there would be proper balance between the demand and supply. Moreover, bio-based acrylic acid minimizes the harmful effects of acrylic acid in the environment that leads to removal of the limitation of using acrylic acid concentration as per the guidelines of the regulatory bodies. This factor provides the companies the platform to use acrylic acid as per the requirement. Due to this reason, bio-based acrylic acid holds tremendous potential for the growth of acrylic acid market in regions such as North America, and Europe, where the market growth limited due to government regulations.
The global acrylic acid market is segmented on the basis of derivative type, end-user, and region. By derivative type, the market is fragmented into acrylic esters, acrylic polymer, and others. Acrylic esters segment further segmented into methyl acrylate, ethyl acrylate, butyl acrylate, and ethylhexyl acrylate. Acrylic polymer segment is further segmented into acrylic elastomers, super absorbent polymers, and water treatment polymers. Others segment is further segmented into ammonium polyacrylate and cyanopolyacrylate. By end-user, the market is divided into diapers, surface coatings industry, adhesives and sealants industry, plastic additives industry, water treatment industry, textiles industry, surfactants industry, and others. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Major players operating in the global acrylic acid market include Mitsubishi Chemical Holdings Corporation, Arkema S.A., BASF SE, The Dow Chemical Co., The Lubrizol Corporation, Evonik, Industries Ag, LG Chem Ltd., Myriant Corporation, Formosa Plastic Group, and SIBUR.
KEY BENEFITS FOR STAKEHOLDERS
The report provides in-depth analysis of the global acrylic acid market along with the current trends and future estimations.
This report highlights the key drivers, opportunities, and restraints of the market along with the impact analysis during the forecast period.
Porter’s five forces analysis helps to analyze the potential of the buyers & suppliers and the competitive scenario of the global acrylic acid industry for strategy building.
A comprehensive market analysis covers factors that drive and restrain the global acrylic acid market growth.
The qualitative data about market dynamics, trends, and developments is provided in the report.
IMPACT OF COVID-19 ON THE GLOBAL ACRYLIC ACID MARKET
Superabsorbent polymers (SAP) manufacturers benefitted from a short-term hike in sales as consumers sought to stock up on nappies and other hygiene products owing to national lockdowns implemented due to the COVID-19 pandemic. This was particularly noticeable in the European and American markets, where there was a surge in demand that resulted in a temporary tightening of the system and empty grocery shelves. However, as the supply chain was normalized and buying habits restored to a more typical pattern, the situation was relieved.
The construction industry has faced difficulties as a result of the COVID-19 epidemic, including logistics and shortage of raw derivative type. Attributed to the massive drop in financial markets around the world, it is projected that construction investments have been withdrawn globally. As a result, the demand for acrylic acid has decreased. The restrictions imposed by governments to combat the virus's impacts may result in lack of raw derivative type and people as well as disrupted supply chains, making it more difficult to meet contractual responsibilities. Furthermore, COVID-19 pandemic has forced builders to postpone the projects. These factors will hinder the acrylic acid market growth.
According to the International Finance Corporation, due to the COVID-19 crisis, it is expected to slow down global investments in the water sector. According to a survey conducted by Global Water Leaders Group, the outbreak will reduce industrial water demand by about 27%. As a result, demand for water treatment chemicals is expected to fall in the water sector, which will negatively impact the acrylic acid market.
By Derivative Type
Acrylic Esters
Acrylic polymer
Others
By End-user
Diapers
Surface Coatings Industry
Adhesives And Sealants Industry
Plastic Additives Industry
Water Treatment Industry
Textiles Industry
Surfactants Industry
Others
By Region
North America
U.S.
Canada
Mexico
Europe
France
Germany
Italy
Spain
U.K.
Rest Of Europe
Asia-Pacific
China
Japan
India
South Korea
Australia
Rest of Asia Pacific
LAMEA
Brazil
South Africa
Saudi Arabia
UAE
Rest of LAMEA
KEY MARKET PLAYERS
Mitsubishi Chemical Holdings Corporation
Arkema S.A.
BASF SE
The Dow Chemical Co.
The Lubrizol Corporation
Evonik, Industries Ag
LG Chem Ltd.
Myriant Corporation
Formosa Plastic Group
SIBUR
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