Global Glacial Acrylic Acid (Gaa) Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Glacial Acrylic Acid (Gaa) Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Glacial acrylic acid (GAA) is a clear, colorless liquid with a pungent smell, which is miscible with water, alcohol and ether. It is an unsaturated monocarboxylic acid, which will undergo typical carboxylic acid reaction and vinyl compound reaction. It is used to produce polymers and acrylates, and as a raw material for chemical synthesis. Glacial acrylic acid has useful properties, such as flexibility, good weather resistance, adhesion, hardness, wear resistance and oil resistance, so it is used as an additive in many products.

Market Overview:

The latest research study on the global Glacial Acrylic Acid (Gaa) market finds that the global Glacial Acrylic Acid (Gaa) market reached a value of USD 7696.69 million in 2022. It’s expected that the market will achieve USD 9931.36 million by 2028, exhibiting a CAGR of 4.34% during the forecast period.

United States Glacial Acrylic Acid (GAA) Market Under COVID-19

COVID-19 is gradually impacting many areas of the US economy, and more and more companies are shutting down and the supply chain is interrupted. In March, the U.S. Manufacturing Purchasing Managers Index (PMI) shrank again, which may only be the beginning of a downturn in the entire industry. According to a survey released recently by the National Manufacturers Association of America, more than one-third of US manufacturers have faced supply disruptions due to the spread of the new coronary pneumonia epidemic. Nearly 80% of manufacturers expect business to be damaged. As the epidemic spreads further, and governments at all levels take larger-scale control measures in response to the epidemic, the US manufacturing industry will likely face greater troubles.

Europe Glacial Acrylic Acid (GAA) Market Under COVID-19

COVID-19 is having an impact on the European Glacial Acrylic Acid (GAA) industry. In March, the impact of the epidemic on the European economy began to show. In order to prevent and control the epidemic, various countries have adopted measures to implement closed management, and the European manufacturing industry has ended a short recovery rebound and accelerated the downturn again. In March 2020, the European manufacturing PMI fell 4.9 percentage points from the previous month to 45%, setting a new low in the past two years. In terms of trends in major countries, except for the Dutch manufacturing PMI which is still above 50%, the manufacturing PMI of the remaining major countries is below 50%. Among them, the manufacturing PMI of Germany, the United Kingdom, and France all declined by more than 2 percentage points, and the Italian manufacturing PMI, which was most affected by the epidemic, fell by more than 8 percentage points. The impact of the COVID-19 epidemic on the European economy will continue, increasing the instability and vulnerability of European economic development.

Drivers

The growing demand of downstream industry
Glacial Acrylic Acid (GAA) is used as an additive in various copolymer-based finishes, coatings, adhesives, inks, lubricants, saturants and plastics. It is also used in a series of special-purpose esters, such as water treatment chemicals, drilling fluids, mineral processing chemicals, detergent additives and super absorbers. As a super absorbent polymer, it is used to produce diapers and other sanitary products. It can also be copolymerized with acrylamide, which acts as flocculants in water purification. Glacial Acrylic Acid (GAA) is commonly used in many end products, such as textiles, leather and paper finishes, floor polishes, plastics, scale inhibitors, hair styling and finishing products, paints, varnishes, adhesives, car paints, dispersants, saturants and thickeners. Glacial Acrylic Acid (GAA) is widely used, and the growing demand of downstream industry will promote the development of Glacial Acrylic Acid (GAA) industry.

Restraints

Glacial Acrylic Acid (GAA) must be stored in air instead of inert gas to prevent spontaneous polymerization. Storage temperature must be between 15℃ and 25℃. If these storage conditions are properly maintained, the product is expected to remain stable within one year. However, diacrylate is formed during storage, which may affect the performance of some applications. Products must be stored, handled, distributed and disposed in strict accordance with national laws and directives and any applicable local regulations, so as to ensure that containers are closed. These factors will affect the development of Glacial Acrylic Acid (GAA) industry.

Region Overview:

In global comparison, a significant portion of the revenue was generated in United States (26.33% in 2021).

Company Overview:

BASF is one of the major players operating in the Glacial Acrylic Acid (Gaa) market, holding a share of 22.62% in 2022.

BASF

BASF SE is a German multinational chemical company and the largest chemical producer in the world. The BASF Group comprises subsidiaries and joint ventures in more than 80 countries and operates six integrated production sites and 390 other production sites in Europe, Asia, Australia, the Americas and Africa. Its headquarters is located in Ludwigshafen, Germany. BASF has customers in over 190 countries and supplies products to a wide variety of industries.

Nippon Shokubai

Nippon Shokubai CO., LTD. manufactures and sells basic and fine chemicals, synthetic resins, and catalysts. The Company's products include acrylic acid, super absorbent polymers, and automobile catalysts. Nippon Shokubai exports to Germany, US, and Singapore.

Segmentation Overview:

By type, Glacial Acrylic Acid 99.5% segment accounted for the largest share of market in 2021.

Application Overview:

The market's largest segment by application is the segment Superabsorbent Polymers in Diapers, with a market share of 54.64% in 2021.

Key Companies in the global Glacial Acrylic Acid (Gaa) market covered in Chapter 3:

Jiangsu Jurong Chemical Co., Ltd.
Jiangsu Sanmu Group Co.,Ltd.
Zheijiang Satellite AA
BASF
Momentive
Gazprom neftekhim Salavat
Toagosei Chemical Industry
Formosa Plastics
CNPC (Jilin)
Arkema
Idemitsu Petrochemical
SASOL
Shenyang Chemical
Mitsubishi Chemical
The DOW Chemical Company
Novomer
Shanghai Huayi
Nippon Shokubai
TASNEE
LG Chemical
Shandong Kaitai

In Chapter 4 and Chapter 14.2, on the basis of types, the Glacial Acrylic Acid (Gaa) market from 2018 to 2029 is primarily split into:

Glacial Acrylic Acid 99.0%
Glacial Acrylic Acid 99.5%
Other

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Glacial Acrylic Acid (Gaa) market from 2018 to 2029 covers:

Superabsorbent Polymers in Diapers
Adult Incontinence
Feminine Hygiene Products
Specialty Esters
Other

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)