Acrylic Acid Market Report and Forecast 2024-2032

According to the report, the global acrylic acid market is projected to grow at a CAGR of 5.1% between 2024 and 2032. Aided by the rising application of acrylic acid in the paints and coatings sector, the market is expected to grow significantly by 2032.

Acrylic acid, a colourless organic compound with a distinctive acrid odour, is a crucial monomer used in the production of various polymers and acrylates. It finds extensive application in industries such as adhesives, paints and coatings, textiles, and personal care products.

The acrylic acid market is primarily driven by the escalating demand from the superabsorbent polymers (SAP) sector. SAPs, derived from acrylic acid, are integral in manufacturing diapers and adult incontinence products, enjoying surging demand globally due to rising population and increased awareness about hygiene and sanitation.

Another significant factor propelling acrylic acid market growth is the expanding application of acrylic acid in the paints and coatings industry. Its ability to enhance paint durability, colour retention, and weather resistance makes it a preferred ingredient in the formulation of high-quality paints and coatings, especially in the construction and automotive sectors.

The personal care and cosmetics industry also contributes significantly to the acrylic acid market growth. Acrylic acid-based polymers are widely used as thickening agents, providing desirable texture and consistency to products like shampoos, lotions, and creams.

Technological advancements in acrylic acid production have led to more efficient and environmentally friendly processes, further boosting the acrylic acid market demand. Innovations in catalyst and process design have not only reduced production costs but also minimised environmental impact, aligning with global sustainability goals.

Geographically, Asia-Pacific emerges as the dominant region in the acrylic acid market, driven by rapid industrialisation, growing population, and increasing demand from end-use industries, particularly in countries like China and India. The region's market is characterised by the presence of numerous manufacturing units and a vast consumer base.

North America and Europe also hold significant portion of the acrylic acid market share. These regions witness steady demand, primarily from the personal care, paints and coatings, and textiles industries. The established industrial infrastructure and stringent environmental regulations in these regions push companies towards innovation and sustainable practices.

Market Segmentation

The market can be divided based on application, and region.

Market Breakup by Application

• Acrylate Esters
• Super Absorbent Polymer (SAP)
• Others

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Competitive Landscape

The report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global acrylic acid market. Some of the major players explored in the report are as follows:

• BASF SE
• Nippon Shokubai Co. Ltd.
• The Dow Chemical Company
• Arkema Group
• LG Chem. Ltd.
• Shanghai Huayi Acrylic Acid Co., Ltd
• Evonik Industries AG
• Mitsubishi Chemical Corporation
• SIBUR International GmbH
• Satellite Chemical Co.,Ltd.
• Wanhua Petrochemical (Yantai) Co., Ltd.
• Toagosei Co., Ltd
• China Petroleum & Chemical Corporation
• Others