Rising demand of acrylic ester and polymers in the surfactant and superabsorbent is likely to provide competitive advantage to the global acrylic acid market
High demand of coating in the construction industry is driving the demand of acrylic acid across the globe. Also, water based coating which is estimated to be the most environmental friendly type of paints is further expected to propel the demand. However, unhealthy effects coupled with fluctuating raw material prices are the key factor hindering the growth of this market. For instance, Acrylic acid is a potent irritant to eye, skin and mucous membrane in humans. Also, studies of animal cancer have shown both positive and negative outcomes.
Acrylic acid is used in latex application, floor polish, polymer solution, emulsion polymer, paint formulations, leather finishing’s and paper coatings, etc. During its manufacture and use, acrylic acid can be released in waste water and as pollution. Individuals may be vulnerable to air inhalation or water intake
In terms of derivative the global market is divided into acrylic esters, acrylic polymers, and other. In terms of applications diaper, surface coating, water treatment, textile, surfactants, etc. In terms of region the market is segmented into North America, Europe, Asia Pacific, and Rest of the World.
Considering more than half the world's share and the biggest consumer in terms of production and consumption, Asia Pacific appears to be the world's biggest acrylic acid market. Europe and North America are another key region for the growth of acrylic acid.
The principal concern is the impact on continuous propylene upward pressure, where propylene is expected to remain in a healthy, long-term role. European materials reliability and technical weaknesses dominate the discussions regarding acrylics. The prices are fluctuating across the globe. The market is projected to grow at a significant growth rate of more than 5% over the forecast period. Rest of the World accounted for a very minimum share owing to weak demand from the regions such as Central & South America and Middle East & Africa.
Key players operating in this industry include 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. Major players are engaged in expansion and increased investment in R&D. However, volatility in the prices is still the major concern for the global players.
Key segments across acrylic acid market
- Acrylic Acid Market by Derivative
- Acrylic esters
- Acrylic polymers
- Acrylic Acid Market by Application
- Surface Coatings Industry
- Adhesives & Sealants Industry
- Water treatment Industry
- Textile Industry
- Surfactants Industry
- Acrylic Acid Market By Region
- North America
- Rest of the Europe
- Asia Pacific
- Rest of Asia Pacific
- Rest of the World