At a compound annual growth rate of 4.8%, the size of the worldwide Acrylic Acid market is projected to reach $19.2 billion in 2030.
The global acrylic acid consumption stood at 6.6 million tons in the year 2019 and is projected to grow at a CAGR of more than 5% over the estimated period of time. Acrylic acid is a bio-compound and is widely used for the preparation of acylate esters as feedstock. Nonetheless, stringent government environmental and human health legislation may be an obstacle to market growth. The industries develop and market their processes to produce petrochemicals acrylic acid. Some acrylic acid is disposed of into the air or is disposed underground. When evaporated, the chance of air pollution is less because they break down with other chemicals. The pollution caused by groundwater was an important issue and has drawn worldwide attention by environmental agencies. The production of bio-acrylic acid resulted from a growing regulatory pressure on enterprises. Major producers are investing in the production of organic product at rates that are competitive with their conventional counterpart. Acrylic esters are witnessing a huge demand from end-use segments such as diapers, paints & coatings, etc.
Acrylic Acid Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2030||$19.2 billion|
|Growth Rate||CAGR of 4.8 % during 2022-2030|
|Segment Covered||Type, By Application, Region.|
|Regions Covered||North America, Europe, Asia Pacific, South America, Middle East and Africa|
|Key Players Profiled||BASF SE,The Dow Chemical Company,Arkema SA,Evonik Industries,Nippon Shokubai Co. Ltd,Taixing Jurong Chemical Co Ltd,PJSC Sibur Holding, LG Chemicals,Shenyang Chemical Co Ltd,Mitsubishi Chemical, and Hexion Inc|
Key Segment Of The Acrylic Acid Market
By Type, 2022-2030 (USD Million)
• Superabsorbent Polymers
• Methyl Acrylate
• Ethyl Acrylate
• Butyl Acrylate
By Application, 2022-2030 (USD Million)
• Traffic Monitoring
• Incident Detection
• Facial Recognition
• People/Crowd Counting
• Intrusion Management
• Automatic Number Plate Recognition
Regional Overview, 2022-2030 (USD Million)
• Rest of Europe
• Rest of Asia Pacific
• Rest of South America
Middle East and South Africa
Frequently Asked Questions (FAQ) :
A gradual decline in prices was caused by large supply and weak demand. Chinese companies have reduced their exports by negative margins. A producer has faced problems in Taiwan. Supply from different roots continued to be vast and sales competitive, leading to price pressure. Demand was lenient on poor competition and economic fundamentals. Some buyers were subject to contract volumes and had no spot cargo requirement. In India, the customers had to replenish themselves, as they had enough stock. Before the Lunar New Year, China had restricted preparation activities. The fourth quarter of 2019 saw the proliferation of US stocks of acrylic acid. In U.S., Acrylic acid supplies used for water, coating and adhesives processing, as well as super absorbing polymers (SAP) generally exceeded demand for much of the fourth quarter of 2019.
On the basis of Derivative segment, the market is categorized into Acrylic esters, Acrylic polymers, and others. Acrylic polymers, dominates the global Acrylic Acid market with a share of over 50% in 2019 and is anticipated to dominate the industry for the forecast period 2020-2025. Typical applications of Acrylic esters include into Diapers, Surface Coatings Industry, Adhesives & Sealants Industry, Water treatment Industry, Textile Industry, Surfactants Industry. Acrylates are used in building coatings. This has led to increased competition on the market for acrylate esters in building.
On the Applications, the market is bifurcated into Diapers, Surface Coatings Industry, Adhesives & Sealants Industry, Water treatment Industry, Textile Industry, Surfactants Industry. Diapers dominated the global Acrylic Acid Application market and is anticipated to show similar trend over the forecast period.
Diapers accounted for a major market revenue share in the year 2019 and is projected to show similar trend over the forecast period. It is also fastest growing segment across the application segment. Personal hygiene amongst babies and female is the key factor driving the demand of superabsorbent polymers which are extensively used in diapers. Surface paints and coatings is another lucrative segment driving the demand of acrylic acid across the globe. Automotive and construction coating are the key applications of surface coating however, construction segment dominated the end use of acrylic acid in terms of surface coating.
In terms of region the global Acrylic Acid market is segmented into North America, Europe, Asia Pacific, and Rest of the World. Asia Pacific accounted for a major market share as of 2019 and is projected to show similar trend over the forecast period. India and China are the key countries responsible for the growth of acrylic acid in this region. U.S. is already doing well in terms of end-use of acrylic acid. However, continuous R&D in this region is producing new application of acrylic acid in this region.
Global leaders in this market include Arkema, BASF SE, China Petroleum & Chemical Corporation, Dow, Formosa Plastics Corporation, Mitsubishi Chemical Corporation, NIPPON SHOKUBAI CO., LTD, Sasol, Shanghai Huayi Acrylic Acid Co. Ltd, LG Chem, Merck KGaA,