Quick Summary:
In a rapidly expanding world of industrial polymers, one monomer stands out: Acrylic Acid, an unsaturated hydrocarbon utilized extensively for the production of polyacrylates via polymerisation. With applications as varied as paints, coatings, textiles, adhesives, and inks, this key ingredient is seeing growing global demand. This is particularly notable in sectors of industry such as the production of Acrylate Esters and Super Absorbent Polymers.
The bulk of this increased demand can be traced back to the current global uptick in construction and infrastructure projects, driving the need for paints, coatings, and adhesives - all significant downstream applications of acrylic acid. Furthermore, consumer demand for personal hygiene products, likely to escalate the demand for Super Absorbent Polymers and acrylic acid derived products, too. This accelerating demand is reflected in the expansion of the Acrylic Acid market, predicted to reach 8500 thousand tonnes in the coming years.
This comprehensive market research report details the many facets of the Global Acrylic Acid market, from production to application. It provides an in-depth analysis of the market's current state, emerging trends, and future prospects, based on quantitative data gathered from primary and secondary research. It's an invaluable tool for industry professionals, providing essential insights to strategize business decisions effectively. From regional demand patterns to segmentation by end user industries, it offers a holistic overview of the sometimes complex dynamics of the Acrylic Acid market. Ultimately, this report offers unparalleled insights for stakeholders involved in any aspect of the Acrylic Acid supply chain.
The global Acrylic Acid market demand stood at 5800 thousand tonnes in 2021 and is expected to grow at a healthy CAGR of 4.18% during the forecast period until 2030. Indian Oil Corporation Limited (IOCL) Acrylic Acid plant, expected to function in 2025, with capacity of 90 thousand tonnes in Gujarat. IOCL placed a contract worth USD 225 million on Tecnimont to implement this new acrylic acid unit.The Global Acrylic Acid Market Demand Stood at 5800 Thousand Tonnes in 2021 and is Expected to Grow at a Healthy CAGR of 4.18% During the Forecast Period Until 2030
Acrylic acid is an unsaturated hydrocarbon with the chemical formula CH2=CHCOOH. It is synthesized by catalytic oxidation of Propylene. In this process, two-stage selective oxidation of Propylene occurs to produce acrylic acid with Acrolein as the fast-acting intermediate. This reaction occurs in a fixed bed reactor along with a catalyst at a temperature between 310-2500 degrees Celsius. The catalysts such as Tantalum, Arsenic, and Molybdenum are used in this reaction. Acrylic acid is frequently utilized for the generation of polyacrylates by polymerization reaction.
Furthermore, Acrylic Acid serves as a monomer for various acrylic polymers, including polyacrylic and polymethacrylic acids. Major applications of acrylic acid are for the manufacturing of Acrylic Esters and Super Absorbent Polymer (SAP). Furthermore, the numerous industrial applications of acrylic acid and its derivatives and copolymers, are paints, coatings, adhesives, textiles, inks, and more.
The primary driver of the Acrylic Acid global market is the manufacturing of acrylate esters. Acrylate ester is widely employed for various applications such as paints & coatings, textiles, plastics, and adhesives. This is largely driven by the growth observed in the construction sector and global infrastructure projects propelling the overall acrylic acid market. In addition, increasing use of butyl acrylates, by coating application is expected to further expand the overall market. The Acrylic Acid global market is anticipated to swell up to approximately 8500 thousand tonnes by the forecast period of 2030.
Based on demand by region, the Asia Pacific dominates the Acrylic Acid market with 48% of the market share of global Acrylic Acid in 2021. The demand for Acrylate Ester for applications in the construction sector is expected to expand in the future due to the rapid economic growth of nations like China and India. Furthermore, the increase in demand for sanitary napkins and other personal hygiene products, is anticipated to swell up the demand for Super Absorbent Polymer, resulting in acceleration of the demand of Acrylic Acid in APAC. North America and Europe stand next in the line after Asia Pacific region. Asia Pacific is also leading as the producer of the global the Acrylic Acid market. In 2021, Asia Pacific contributed more than 50% of the global Acrylic Acid.
Based on the end-user industry, the global Acrylic Acid market is segmented into Acrylate Ester, Super Absorbent Polymer, Water Treatment, Detergent, Paper, and others. Among these industries, the Acrylate Ester sector dominates the Acrylic Acid market across the globe. This industry consumed about 40% of the Acrylic Acid in 2021 and is expected to maintain its position in the forecast period. Super Absorbent Polymer sector is also a prominent consumer of Acrylic Acid. Super Absorbent Polymer displays amazing absorption properties and finds application in multiple industries. The rise in demand for sanitary items and baby diapers with the increasing awareness regarding personal hygiene and other adult intimate products among people is expected to result in global Acrylic Acid market expansion in the forecast period.
Major players in the production of Global Acrylic Acid are Arkema SA, BASF SE, Nippon Shokubai Co. Ltd., LG Chem limited, The Dow Chemical Company, Jiangsu Jurong Chemical Co. Ltd, Zhejiang Satellite Petro Chemical Co. Ltd., BASF-YPC Company Limited, Wanhua Chemical Group Co. Ltd., Evonik Industries AG, and Shanghai Huayi Acrylic Acid Co., Ltd.
Years considered for this report:
- Historical Period: 2015- 2021
- Base Year: 2021
- Estimated Year: 2022
- Forecast Period: 2023-2030
Objective of the Study:
- To assess the demand-supply scenario of Acrylic Acid which covers production, demand, and supply of Acrylic Acid market in the globe.
- To analyse and forecast the market size of Acrylic Acid
- To classify and forecast Global Acrylic Acid market based on end-use and regional distribution.
- To examine competitive developments such as expansions, mergers & acquisitions, etc., of Acrylic Acid market in the globe.
The publisher calculated Acrylic Acid demand in the globe by analyzing the historical data and demand forecast which was carried out considering the historical extraction and supply and demand of Acrylic Acid across the globe. The publisher sourced these values from industry experts, and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by the publisher.
Key Target Audience:
- Acrylic Acid manufacturers and other stakeholders
- Organizations, forums and alliances related to Acrylic Acid distribution
- Government bodies such as regulating authorities and policy makers
- Market research organizations and consulting companies
Report Scope:
In this report, Global Acrylic Acid market has been segmented into following categories, in addition to the industry trends which have also been detailed below:- Market, by End-use: Acrylate Ester, Super Absorbent Polymer, Water Treatment, Detergent, Paper, and others
- Market, by Sales Channel: Direct Sale and Indirect Sale
- Market, by Region: North America, Europe, Asia Pacific, Middle East and Africa, and South America.
Available Customizations:
With the given market data, the publisher offers customizations according to a company’s specific needs.Table of Contents
Methodology
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