The North America Acrylic Acid Market would witness market growth of 3.6% CAGR during the forecast period (2023-2030). In the year 2019, the North America market's volume surged to 1,491.4 kilo tonnes, showcasing a growth of 3.1% (2019-2022).
Turbidity caused by suspended particles in water can be effectively reduced using acrylic acid-based polymers. These polymers aid in the aggregation of small particles, resulting in larger and heavier flocs that settle more rapidly, leading to a reduction in turbidity levels. Acrylic acid-based polymers are effective in addressing heavy metal contamination in water. These polymers can form complexes with heavy metal ions, facilitating their removal during the coagulation and precipitation processes in water treatment.
In addition, acrylic acid-based polymers exhibit good compatibility with other water treatment chemicals. This compatibility allows for their effective integration into existing water treatment processes, providing water treatment plant operators flexibility. Acrylic acid-based polymers are known for their stability and longevity in water treatment applications. They can withstand the harsh conditions in water treatment processes, ensuring sustained performance over time.
Furthermore, environmental sustainability has become a focal point in the market. Manufacturers are increasingly adopting sustainable practices, including using renewable feedstocks, energy-efficient processes, and developing eco-friendly products. Ongoing research and development activities have led to technological advancements in acrylic acid production. Innovations focus on improving production efficiency, reducing environmental impact, and enhancing the performance of acrylic-based products.
The construction boom in Canada has led to increased demand for coatings to protect and enhance the aesthetic appeal of surfaces. Acrylic-based coatings are known for their durability, weather resistance, and versatility, making them suitable for various architectural applications. As per the data from Statistics Canada, investment in building construction increased 5.3% to $18.9 billion in September. The residential sector rose 7.3% to $12.9 billion, and the non-residential sector rose 1.2% to $6.0 billion. Thus, the growing construction industry in North America will boost the demand for acrylic acids in the region.
The US market dominated the North America Acrylic Acid Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $2,425 million by 2030. The Canada market is showcasing a CAGR of 5.9% during (2023 - 2030). Additionally, The Mexico market would register a CAGR of 5% during (2023 - 2030).
Based on End-user, the market is segmented into Diapers, Surface Coatings Industry, Adhesives & Sealants Industry, Plastic Additives Industry, Water Treatment Industry, Textiles Industry, Surfactants Industry, and Others. Based on Derivative Type, the market is segmented into Acrylic Esters, Acrylic Polymer, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Mitsubishi Chemical Holdings Corporation, Arkema S.A., BASF SE, The Dow Chemical Company, Evonik Industries AG (RAG-Stiftung), LG Chem Ltd. (LG Corporation), Formosa Plastics Group, Sasol Limited, Nippon Shokubai Co., Ltd., and Merck KGaA.
Turbidity caused by suspended particles in water can be effectively reduced using acrylic acid-based polymers. These polymers aid in the aggregation of small particles, resulting in larger and heavier flocs that settle more rapidly, leading to a reduction in turbidity levels. Acrylic acid-based polymers are effective in addressing heavy metal contamination in water. These polymers can form complexes with heavy metal ions, facilitating their removal during the coagulation and precipitation processes in water treatment.
In addition, acrylic acid-based polymers exhibit good compatibility with other water treatment chemicals. This compatibility allows for their effective integration into existing water treatment processes, providing water treatment plant operators flexibility. Acrylic acid-based polymers are known for their stability and longevity in water treatment applications. They can withstand the harsh conditions in water treatment processes, ensuring sustained performance over time.
Furthermore, environmental sustainability has become a focal point in the market. Manufacturers are increasingly adopting sustainable practices, including using renewable feedstocks, energy-efficient processes, and developing eco-friendly products. Ongoing research and development activities have led to technological advancements in acrylic acid production. Innovations focus on improving production efficiency, reducing environmental impact, and enhancing the performance of acrylic-based products.
The construction boom in Canada has led to increased demand for coatings to protect and enhance the aesthetic appeal of surfaces. Acrylic-based coatings are known for their durability, weather resistance, and versatility, making them suitable for various architectural applications. As per the data from Statistics Canada, investment in building construction increased 5.3% to $18.9 billion in September. The residential sector rose 7.3% to $12.9 billion, and the non-residential sector rose 1.2% to $6.0 billion. Thus, the growing construction industry in North America will boost the demand for acrylic acids in the region.
The US market dominated the North America Acrylic Acid Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $2,425 million by 2030. The Canada market is showcasing a CAGR of 5.9% during (2023 - 2030). Additionally, The Mexico market would register a CAGR of 5% during (2023 - 2030).
Based on End-user, the market is segmented into Diapers, Surface Coatings Industry, Adhesives & Sealants Industry, Plastic Additives Industry, Water Treatment Industry, Textiles Industry, Surfactants Industry, and Others. Based on Derivative Type, the market is segmented into Acrylic Esters, Acrylic Polymer, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Mitsubishi Chemical Holdings Corporation, Arkema S.A., BASF SE, The Dow Chemical Company, Evonik Industries AG (RAG-Stiftung), LG Chem Ltd. (LG Corporation), Formosa Plastics Group, Sasol Limited, Nippon Shokubai Co., Ltd., and Merck KGaA.
Scope of the Study
Market Segments Covered in the Report:
By End-user (Volume, Kilo Tonnes, USD Billion, 2019-2030)
- Diapers
- Surface Coatings Industry
- Adhesives & Sealants Industry
- Plastic Additives Industry
- Water Treatment Industry
- Textiles Industry
- Surfactants Industry
- Others
By Derivative Type (Volume, Kilo Tonnes, USD Billion, 2019-2030)
- Acrylic Esters
- Acrylic Polymer
- Others
By Country (Volume, Kilo Tonnes, USD Billion, 2019-2030)
- US
- Canada
- Mexico
- Rest of North America
Key Market Players
List of Companies Profiled in the Report:
- Mitsubishi Chemical Holdings Corporation
- Arkema S.A.
- BASF SE
- The Dow Chemical Company
- Evonik Industries AG (RAG-Stiftung)
- LG Chem Ltd. (LG Corporation)
- Formosa Plastics Group
- Sasol Limited
- Nippon Shokubai Co., Ltd.
- Merck KGaA
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Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market at a Glance
Chapter 3. Market Overview
Chapter 4. North America Acrylic Acid Market by End-user
Chapter 5. North America Acrylic Acid Market by Derivative Type
Chapter 6. North America Acrylic Acid Market by Country
Chapter 7. Company Profiles
Companies Mentioned
- Mitsubishi Chemical Holdings Corporation
- Arkema S.A.
- BASF SE
- The Dow Chemical Company
- Evonik Industries AG (RAG-Stiftung)
- LG Chem Ltd. (LG Corporation)
- Formosa Plastics Group
- Sasol Limited
- Nippon Shokubai Co., Ltd.
- Merck KGaA
Methodology
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