Global Acrylic Acid Market Size study & Forecast, by Derivative type (Acrylic Esters, Acrylic polymer, Others), by Formulation (Water-borne Coating, Solvent-borne Coating, Solventless Coating, Powder Coating, Radiation Curable Coating), by End-user (Diape

Global Acrylic Acid Market Size study & Forecast, by Derivative type (Acrylic Esters, Acrylic polymer, Others), by Formulation (Water-borne Coating, Solvent-borne Coating, Solventless Coating, Powder Coating, Radiation Curable Coating), by End-user (Diapers, Surface Coatings Industry, Adhesives And Sealants Industry, Others) and Regional Analysis, 2023-2030

Global Acrylic Acid Market is valued at approximately USD XX billion in 2022 and is anticipated to grow with a healthy growth rate of more than XX% during the forecast period 2023-2030. Acrylic acid, an organic compound characterized by its sharp or pungent smell, serves as a precursor for the synthesis of acrylate esters. Acrylate esters find diverse applications, encompassing paper treatment, plastic additives, textiles, sealants, adhesives, and surface coatings. Additionally, acrylic acid plays a role in the manufacturing of sanitary medical devices, detergents, and chemicals for wastewater treatment. Industries are actively advancing and implementing methods to produce acrylic acid from petrochemicals. However, due to stringent regulations governing the commercial utilization of acrylic acid, manufacturers are increasingly turning to bio-based methodologies for its production, utilizing renewable resources such as glycerol and sugar. In comparison to petrochemical processes, the use of renewable feedstock yields economically competitive outcomes. The key factors driving the market growth are increasing demand for superabsorbent polymers, expanding applications in coatings and adhesives, and expansion in personal care and hygiene products that are anticipated to create the lucrative demand for acrylic acid at a substantial rate.

Additionally, the growing paints and coatings industry significantly supports the growth of the acrylic acid market. Acrylic acid is a crucial raw material in the production of acrylic-based coatings. These coatings are known for their versatility, durability, and weather resistance, making them highly desirable for various applications in the paints and coatings industry. According to Statista, in 2023, the global paints and coatings industry was valued at USD 179.98 billion and it is anticipated to reach USD 255.59 billion by 2032. As a result, the growing paints and coatings industry is anticipated to support the market growth. Moreover, ongoing advancements in production processes and the development of bio-based acrylic acid are anticipated to create lucrative opportunities for the market. However, environmental concerns health hazards, and regulatory issues stifle market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Acrylic Acid Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the rising awareness of superabsorbent polymers, environmental regulations the shift towards bio-based acrylic acid, and the presence of key market players. Whereas, the Asia Pacific is expected to grow with the fastest growth rate over the forecast period, owing to factors such as the increasing demand in end-use industries, rapid industrialization and urbanization, expanding construction sector, and growing awareness of hygiene products.

Major market player included in this report are:
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
Jurong Group

Recent Developments in the Market:
 In April 2022, Wanhua disclosed plans to invest USD 3.6 billion in establishing a chemical complex in China by 2024. The facility is set to produce a range of chemicals, including propylene oxide, polyether polyols, acrylic acid, polypropylene, and various others.

Global Acrylic Acid Market Report Scope:
 Historical Data – 2020 - 2021
 Base Year for Estimation – 2022
 Forecast period - 2023-2030
 Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
 Segments Covered – Derivative type, Formulation, End-user, Region
 Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Derivative type:
Acrylic Esters
Acrylic polymer
Others

By Formulation:
Water-borne Coating
Solvent-borne Coating
Solventless Coating
Powder Coating
Radiation Curable Coating

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

Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC

Latin America
Brazil
Mexico

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Companies Mentioned
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
Jurong Group

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