Polyacrylic Acid Market 2024

The polyacrylic acid market size has grown strongly in recent years. It will grow from $3.34 billion in 2023 to $3.56 billion in 2024 at a compound annual growth rate (CAGR) of 6.5%. The growth observed during the historical period can be linked to the rising demand for personal care products, the broadening of polyacrylic acid applications, increasing disposable incomes, the expansion of adhesives and sealants, and supportive regulations.

The polyacrylic acid market size is expected to see strong growth in the next few years. It will grow to $4.6 billion in 2028 at a compound annual growth rate (CAGR) of 6.6%. In the forecast period, growth is expected to stem from heightened consumer awareness, the expansion of the cosmetics sector, urbanization, an increase in infrastructure projects, and a burgeoning beauty and personal care market. Key trends anticipated in this period include the creation of superabsorbent polymers, technological advancements, improved formulations of polyacrylic acid, the introduction of new varieties of polyacrylic acids, and enhanced product formulations.

The rising demand for personal care products is projected to drive the growth of the polyacrylic acid market in the coming years. Personal care products encompass a wide range of items related to hygiene, grooming, and beauty, including skincare, haircare, oral care, and cosmetics. This growing demand is fueled by increasing consumer awareness of hygiene, self-care, grooming, and changing beauty trends. Polyacrylic acid is utilized in personal care formulations for its thickening, emulsifying, and moisture-retention capabilities, which enhance the texture and stability of products such as lotions, gels, and creams. For example, the Cosmetic Toiletry & Perfumery Association (CTPA), a UK-based trade group, reported that the color cosmetics sector sold 118,178 units in 2022, which rose to 123,056 units in 2023, reflecting a growth of about 4.1%. Similarly, the skincare sector saw an increase from 456,401 units in 2022 to 460,868 units in 2023, marking a growth of approximately 1%. Thus, the growing demand for personal care products is expected to boost the polyacrylic acid market.

Leading companies in the polyacrylic acid market are focusing on high-performance additives, including modified polymers, to improve product performance and formulation stability. Modified polymers are chemically or physically altered to enhance properties such as strength, flexibility, or thermal stability for better performance in specific applications. For instance, in August 2023, Lubrizol Life Science Beauty, a division of The Lubrizol Corporation, launched Carbopol SC-800 polymer, a hydrophobically modified cross-linked polyacrylic acid. This polymer provides an efficient thickening and stabilizing solution for mild, sulfate-free cleansers such as shower gels, shampoos, and facial cleansers. It offers superior clarity, thickening efficiency, and suspension properties compared to other polymers, giving formulators the flexibility to enhance skin cleansing formulations. Additionally, foam generation studies indicate that this polymer maintains foam volume and quality, ensuring the desired lather in rinse-off beauty products without compromising performance.

In August 2023, Nantong Jiangshan Agrochemical & Chemicals Limited Liability Co., Ltd., a China-based company specializing in agrochemicals and fine chemicals, acquired a 67% stake in Nantong Uniphos Chemicals Co., Ltd. for $24.71 million. This acquisition is a strategic move to expand its presence in the water treatment chemicals sector while strengthening its position in China's broader specialty chemicals market. Nantong Uniphos Chemicals Co. Ltd. is a Chinese manufacturer focused on producing polyacrylic acid-based compounds.

Major companies operating in the polyacrylic acid market are PetroChina Company Limited, BASF SE, Dow Chemical Company, Saudi Basic Industries Corporation, Merck KGaA, Solvay S.A., Arkema S.A., Huntsman Corporation, The Lubrizol Corporation, SNF Group, Kemira Oyj, Nippon Shokubai Co. Ltd., Ashland Global Holdings Inc., Toagosei Co. Ltd., Protex International, Polysciences Inc., Gelest Inc., Anhui Newman Fine Chemicals Co. Ltd., Maxwell Additives Pvt. Ltd., AVA Chemicals Private Limited, Polymer Source Inc., Shandong ThFine Chemical Co. Ltd., Glentham Life Sciences Limited, Acuro Organics Limited.

Asia-Pacific was the largest region in the polyacrylic acid market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the polyacrylic acid market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the polyacrylic acid market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Polyacrylic acid (PAA) is a synthetic polymer derived from acrylic acid, recognized for its exceptional ability to absorb water and modify viscosity. It is commonly employed as a thickening agent in cosmetics and paints, a dispersant in detergents, and in superabsorbent materials. Additionally, PAA is used in pharmaceutical formulations and medical applications due to its moisture-retaining properties, which enhance the consistency of various products.

The primary varieties of polyacrylic acid include copolymers, homopolymers, and terpolymers. Copolymers are created by blending acrylic acid with other monomers, resulting in polymers with distinctive characteristics, such as enhanced flexibility or specific adhesive properties. These are particularly beneficial for applications in adhesives, coatings, and personal care products that require tailored performance features. PAA is available in both liquid and powdered forms, categorized by grades such as industrial, cosmetic, and pharmaceutical, which serve various functions, including thickeners, dispersing agents, conditioners, emulsifiers, anti-scaling agents, ion exchangers, and clarifying agents. Key end users encompass sectors such as water treatment, personal care, and detergents and cleaners, among others.

The polyacrylic acid market research report is one of a series of new reports that provides polyacrylic acid market statistics, including polyacrylic acid industry global market size, regional shares, competitors with an polyacrylic acid market share, detailed polyacrylic acid market segments, market trends and opportunities, and any further data you may need to thrive in the polyacrylic acid industry. This polyacrylic acid market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The polyacrylic acid market consists of sales of standard polyacrylic acid, neutralized polyacrylic acid, and low-molecular-weight polyacrylic acid. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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