Acrylic Acid Market Size & Growth Analysis to 2030

The global acrylic acid market was estimated at around USD 13 billion in 2019 and projected to grow at the CAGR of 6.54% market during 2020-2027. The market is witnessing growth on the back of rising demand from the end-use applications. Moreover, rapid expansion of different end-use applications for acrylic acid is the factors driving market growth. Untapped economies also offer huge growth potential. Health hazards and environmental concerns associated with acrylic acid is one of the major factors inhibiting the market growth.

Market Insights:

The global acrylic acid market is witnessing growth on the back of rising demand from end-user applications such as construction, paints and coatings, adhesive and sealants among others. Imbalance in the supply chain and environmental concerns are some of the major factors inhibiting the growth of the market. However, shift in focus on development of bio-based acrylic acid and high growth potential from untapped regions offers huge market demand. Asia Pacific is the largest market for acrylic acid in terms of both volume and revenue and is projected to maintain its dominance over the coming few years. Rise in demand for baby diapers, development of infrastructure supported by rise in purchasing power are the major contributors towards the market growth. Expanding applications of superabsorbent polymers is projected to trigger market demand for acrylic acid in North America and European regions. Moreover, rise in demand for adult diapers due to growing ageing population is another factor contributing towards the market growth. Untapped economies such as the Middle East, Eastern Europe, Latin America, and Africa offer growth potentials.

Market Segment Insights:

On the basis of applications, the acrylic acid market is classified into acrylates, SAPs, and others. The acrylates include surface coating, adhesives, resin modifiers, and others. The SAP’s includes a baby diaper, adult incontinence, feminine hygiene, and others. The other markets include polymer modifiers, inks, water treatment and paper processing among others. The market was dominated by acrylates applications but growth is projected to the fastest from the SAPs applications. Its wide range of use supports a growth rate marginally higher than GDP.

Global Acrylic Acid Market Segmentation:

By Application, 2018–2027 ($ Millon)

• Acrylates
• SAPS (Baby Diaper, Adult Incontinence, Feminine Hygiene, and Others)
• Others (Polymer Modifiers, Inks, Water Treatment, and Paper Processing Among Others)

By Geography, 2018-2027 ($ Millon)

• North America
• Europe
• Asia Pacific
• Latin America (LATAM)
• Middle East and Africa (MEA)

Regional Insights:

Asia Pacific is the largest market globally and is expected to grow at the highest rate in terms of revenue and volume from 2020 to 2027. The region accounts for a major share of the acrylic acid market and is the largest producer of acrylic acid, globally. China is the largest and fastest-growing market for acrylic acid in the region. India is expected to have capacity additions by 2019 through which it shall be able to meet its domestic demand and not depend on imports from China, Japan, or Europe. The use of acrylic acid derivatives in industries, such as the construction, paints, and personal care products are expected to have higher growth rates in Asia Pacific followed by Latin America and Middle East and Africa in the next five years. North America is the second largest market for acrylic acid followed by Europe.

Market Competition Assessment:

The major players currently operating in the global acrylic acid market include Arkema Group, Arko-Plastic GmbH, BASF SE, DuPont EI De Nemours & Co., EMS-CHEMIE HOLDING AG, Eurotec, Evonik Industries AG, PlastiComp, Inc., Polyone Corporation, Propolymers, Inc., SABIC, and Solvay S.A.

List of Key Companies:

• Arkema Group
• Arko-Plastic GmbH
• BASF SE
• DuPont EI De Nemours & Co.
• EMS-CHEMIE HOLDING AG
• Eurotec
• Evonik Industries AG
• PlastiComp, Inc.
• Polyone Corporation
• Propolymers, Inc.
• SABIC
• Solvay S.A

Key Questions Answered by Acrylic Acid Market Report

• Global acrylic acid market forecasts from 2020-2027
• Regional acrylic acid market forecasts from 2020-2027 covering Asia-Pacific, North America, Europe, Middle East and Africa, and Latin America
• Country-level forecasts from 2020-2027 covering 15 major countries from the aforementioned regions
• Acrylic Acid submarket forecasts from 2020-2027 covering submarket 1, submarket 2 submarket 3
• Various industry models such as SWOT analysis, Pestle Analysis, Porter’s Five Force model, Value Chain Analysis pertaining to the acrylic acid market
• Analysis of the key factors driving and restraining the growth of the global, regional and country-level acrylic acid markets from 2020-2027
• Competitive Landscape and market positioning of top 10 players operating in the acrylic acid market

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