Acrylic Acid

Acrylic Acid

Global Acrylic Acid Market to Reach US$20.4 Billion by 2030

The global market for Acrylic Acid estimated at US$14.4 Billion in the year 2023, is expected to reach US$20.4 Billion by 2030, growing at a CAGR of 5.1% over the analysis period 2023-2030. Acrylic Polymers Derivative, one of the segments analyzed in the report, is expected to record a 5.7% CAGR and reach US$10.2 Billion by the end of the analysis period. Growth in the Acrylic Esters Derivative segment is estimated at 5.1% CAGR over the analysis period.

The U.S. Market is Estimated at US$3.8 Billion While China is Forecast to Grow at 8.2% CAGR

The Acrylic Acid market in the U.S. is estimated at US$3.8 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$4.7 Billion by the year 2030 trailing a CAGR of 8.2% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 2.9% and 4.2% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.8% CAGR.

Global Acrylic Acid Market - Key Trends and Drivers Summarized

What Makes Acrylic Acid a Key Chemical in Industrial Applications?

Acrylic acid is a fundamental building block in the chemical industry, known for its versatile applications and essential role in producing a wide array of products. This organic compound, characterized by its clear, colorless liquid form and acrid odor, is predominantly used to manufacture acrylate esters, which are vital components in the production of adhesives, paints, coatings, and textiles. Its ability to undergo polymerization and form long-chain polymers makes it an indispensable material in creating superabsorbent polymers, which are used extensively in hygiene products like diapers and adult incontinence products. Furthermore, acrylic acid is a critical ingredient in water treatment chemicals, helping to maintain clean and safe water supplies. The widespread applicability and functional properties of acrylic acid underscore its importance in various industrial processes and consumer products.

How Are Innovations and Technological Advances Impacting Acrylic Acid Production?

Innovations and technological advances have significantly impacted the production and application of acrylic acid, driving efficiency and sustainability. Traditional production methods primarily involve the oxidation of propylene, but recent developments have focused on improving yield and reducing environmental impact. For instance, researchers are exploring bio-based production pathways that utilize renewable feedstocks, such as glycerol and lactic acid, to produce acrylic acid. These bio-based methods not only reduce reliance on fossil fuels but also decrease greenhouse gas emissions, aligning with global sustainability goals. Additionally, advancements in catalytic processes and reactor design have enhanced the efficiency of acrylic acid synthesis, lowering energy consumption and production costs. These technological strides are crucial in meeting the growing demand for acrylic acid while addressing environmental and economic challenges, thereby ensuring a more sustainable and efficient production landscape.

Why Is Demand for Acrylic Acid Rising Across Various Industries?

The demand for acrylic acid is rising across various industries due to its indispensable role in manufacturing essential products. In the adhesives and sealants industry, acrylic acid-based products are favored for their strong adhesion, flexibility, and durability, making them ideal for use in construction, automotive, and packaging applications. The paints and coatings industry relies on acrylic acid to produce high-performance coatings that offer excellent weather resistance and aesthetic appeal. In the textiles sector, acrylic acid is used to create fibers and fabrics with enhanced durability and comfort. The hygiene products market, which includes diapers and sanitary products, is one of the largest consumers of superabsorbent polymers made from acrylic acid, driven by increasing awareness of hygiene and rising disposable incomes in developing regions. Additionally, the water treatment industry utilizes acrylic acid derivatives to produce flocculants and coagulants that are essential for effective water purification processes. The versatile applications and growing industrial needs underscore the rising demand for acrylic acid.

What Factors Are Driving Growth in the Acrylic Acid Market?

The growth in the acrylic acid market is driven by several factors that encompass technological innovations, expanding end-use applications, and evolving consumer preferences. One of the primary drivers is the increasing demand for superabsorbent polymers in hygiene products, spurred by rising population and heightened hygiene awareness globally. Technological advancements in bio-based production methods are also propelling market growth, as industries seek sustainable alternatives to conventional petrochemical processes. The expanding automotive and construction industries are boosting demand for acrylic acid-based adhesives and sealants, which are essential for various applications due to their superior performance characteristics. Additionally, the paints and coatings sector`s growth, driven by urbanization and infrastructure development, is further fueling the demand for acrylic acid. The water treatment industry`s ongoing expansion, particularly in regions with stringent water quality regulations, is another critical factor contributing to market growth. These drivers collectively ensure a robust growth trajectory for the acrylic acid market, reflecting its essential role in modern industrial applications.

Select Competitors (Total 46 Featured) -

• Arkema
• BASF SE
• Dow, Inc.
• DuPont de Nemours, Inc.
• Evonik Industries AG
• Hexion Inc.
• LG Chem
• Mitsubishi Chemical Corporation
• Nippon Shokubai Co., Ltd.
• Sasol Ltd.
• SIBUR Holding

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