[300 Pages Report] The acrylic acid market is anticipated to register a CAGR of 4.5% during the period of 2022-2032. The acrylic acid market is anticipated to reach US$ 22.6 Billion in 2032, from US$ 14.6 Billion in 2022.
“Increasing demand for Super Absorbent Polymers (SAP) in Sanitary Pads Application, is one of the major factors that is anticipated to propel the industry growth over the forecast period.”
| Attributes | Details |
|---|---|
| Acrylic Acid Market CAGR (2022 to 2032) | 4.5% |
| Acrylic Acid Market (2022) | US$ 14.6 Billion |
| Acrylic Acid Market (2032) | US$ 22.6 Billion |
The rise in demand for methacrylate-based polymers for the manufacturing of lighting fixtures, glazing, automotive rear lights, and electronic displays has witnessed significant growth, which in turn, represents prominent growth in the acrylic acid market over the analysis period.
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Increasing Demand for Water Treatment Polymers to Boost Growth
Polymer derived from acrylic acid, such as polyacrylamide is used as a flocculent in the water treatment process, mineral processing, and detergents. Growing urbanization, coupled with the increasing emphasis of government towards water cleaning, is likely to propel the acrylic acid market due to the usage of acrylic acid to treat/recycle wastewater.
Moreover, due to the government regulations, manufacturers are bound to treat the effluent before releasing it into sea and oceans, which leads to increase in demand for polyacrylamide, which indirectly creates a positive impact on the acrylic acid market.
Adoption of Advanced Acrylic-based Polymers in Major End-use Industries
Acrylic acid-based polymers have replaced conventionally used materials in major end-use industries, such as automotive, building and construction, electronics, and others. Acrylic acid-based elastomers such as AEM (Ethylene Acrylic Elastomers), are used as an alternative to synthetic rubber in various applications, such as an automotive gasket, hoses, and others.
In addition, owing to the improved properties of AEM, such as strength, and resistance, among others, there is an increasing demand for acrylic acid from the polymer industry during the forecast period.
Additionally, the rise in demand for methacrylate-based polymers for the manufacturing of lighting fixtures, glazing, automotive rear lights, and electronic displays has witnessed significant growth, which in turn, represents prominent growth in the acrylic acid market over the analysis period.
Decrease in demand of Acrylic Acid
The construction industry has been facing difficulties including logistics and shortage of raw derivative type. Attributed to the massive drop in financial markets around the world, it is projected that construction investments have been withdrawn globally. As a result, the demand for acrylic acid has decreased.
This has resulted in lack of raw derivative type and people, as well as disrupted supply chains, which is making it more difficult to meet contractual responsibilities. These factors are expected to hamper the acrylic acid market growth during the forecast period.
Principal Consultant
Increasing Demand for Super Absorbent Polymers (SAP) in Sanitary Pads Application
Superabsorbent polymers (SAPs) are desirable for sanitary products and diapers. They can often absorb their weight in liquid, making them ideal for use in water-absorbing applications, such as baby diapers, adult incontinence pads, absorbent medical dressings, and controlled release drugs.
SAPs account for approximately 30% of the total acrylic acid demand in the global scenario. Superabsorbent polymers are prepared using acrylic acid and sodium hydroxide as raw materials to form polyacrylic acid.
The feminine hygiene market, which includes tampons, sanitary napkins, menstrual cups, and vaginal health products, makes up a significant share of the superabsorbent polymers market. For instance, around USD 23.63 billion worth of sanitary napkins were sold globally in 2021.
Governments in several countries, in collaboration with various non-profit organizations (NGOs), are undertaking initiatives to spread awareness among women about feminine hygiene, particularly in developing economies. Thus, increased sales of sanitary napkins are likely to fuel the market for acrylic acid.
Overall, the increasing awareness about hygiene among all population groups is expected to promote the usage of superabsorbent polymers (diapers, pads, and sanitary napkins), which may augment the consumption of acrylic acid during the forecast period.
Acrylic Acid Market:
| Attributes | Acrylic Acid Market |
|---|---|
| CAGR (2022 to 2032) | 4.5% |
| Market Value (2032) | US$ 22.6 Billion |
| Growth Factor | The rising applications of acrylic acid-based super absorbent polymers is expected to boost the market’s growth. |
| Opportunity | The rising demand for bio-based polymers in healthcare applications is likely to act as an opportunity for market growth in the future. |
| Key Trends | The increasing demand for architectural coatings in the Asia-Pacific region is expected to drive the market's growth. |
Acrylate Esters Market:
| Attributes | Acrylate Esters Market |
|---|---|
| CAGR (2022 to 2032) | 4.6% |
| Market Value (2032) | US$ 27.7 Billion |
| Growth Factor | The increasing use of Acrylate Esters in surface coatings, adhesives & sealants, textiles, diapers & training pants and many other applications is expected to fuel the market growth. |
| Opportunity | The rising demands of acrylate ester in the emerging markets would provide lucrative opportunities for the market’s growth. |
| Key Trends | The increasing consumption in surface coating in the Asia-Pacific region is expected to fuel the market’s growth. |
Surfactants Market:
| Attributes | Surfactants Market |
|---|---|
| CAGR (2022 to 2032) | 5.3% |
| Market Value (2032) | US$ 65.5 Billion |
| Growth Factor | Low prices & easy availability of surfactants are expected to fuel the market growth. |
| Opportunity | The rapid growth of personal care industry and usage of surfactants in neonatal respiratory distress syndrome are anticipated to provide numerous growth opportunities in the upcoming years. |
| Key Trends | Extensive use of surfactants in household detergents is further boosting the growth of the surfactants market during the forecast period. |
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Acrylate Esters segment to witness considerable CAGR for the market growth
Acrylate esters segment of the acrylic acid market accounts for the highest CAGR of 4.6% during the forecast period. Acrylate esters are a major derivative of acrylic acid. Several companies have been focusing on utilizing acrylate esters for multiple end-use applications across industries such as automotive and more. The major application is concentrated in paints, acrylic gums, viscosity adhesives, and acrylic textiles among others.
Acrylates impart several desirable properties to polymers such as clarity, color stability, aging, and heat resistance along with excellent weather-ability, leading to higher product demand in coating & adhesives industries. Apart from these, one of the crucial characteristics of acrylate ester is glass transition temperature, which enables the formulated polymer to be softer & more flexible rather than hard & brittle.
Personal Care Products likely to be the highest CAGR holder for the market growth
Personal care products segment of the acrylic acid market accounts for the highest CAGR of 4.3% during the forecast period. Personal care products such as diapers and adult incontinence products are increasingly using super absorbent polymers. The growing demand for superabsorbent polymers in these applications is expected to drive demand.
With the recent surge in economic conditions across emerging economies of Asia and Central & South America, the demand for personal care products such as body wash, hair wash, cleansers, and more have reflected high demand. This shall push the utilization of acrylic acid in personal care product manufacturing across these regions.
Increasing demand of Acrylic Acid to Widen Scope of Market
Asia-Pacific region is expected to dominate the market due to the high demand from countries like China, India, and Japan. China is the largest consumer of acrylic acid in the Asia-Pacific region, and its demand is expected to grow further in the coming years due to several factors. The demand for adhesives, paints, and coatings in China is also increasing at a strong rate due to the growing investments in the construction and infrastructure sectors.
Additionally, China is one of the major consumers of personal hygiene products globally. The country’s demand for personal hygiene products is attributed to a large infant population and an increasing disposable income, leading to an increase in personal and hygiene care spending. Thus, this factor is anticipated to boost the market for acrylic acid.
China is expected to represent the highest CAGR of 3.6% in the acrylic acid market during the forecast period, to reach US$ 1.5 Billion. On the other hand, Japan is expected to represent the highest CAGR of 3.7% in the acrylic acid market during the forecast period, to reach US$ 1.3 Billion.
Acrylic Acid Market in the US to Witness Better Growth Opportunities
North America is projected to observe significant amount of growth in the acrylic acid market due to the rapid development in various end-use industries including surfactants, adhesives and sealants, and personal care.
In addition, the exhaustive research and development is further anticipated to propel the growth of the acrylic acid market in the region in the forthcoming years. The U.S is expected to represent the highest CAGR of 3.9% in the acrylic acid market during the forecast period, to reach US$ 7.8 Billion.
BASF SE, Dow Chemical, Lucite International, LG Chem, Mitsubishi Chemical Corporation, Cargill, Incorporated., Nippon Shokubai Co., Ltd., SNP Inc., The Lubrizol Corporation, Formosa Plastic Corporation, Arkema S.A., Ashland, and Kemira Oyi, among others are the top companies in the global acrylic acid market.
With a sizable acrylic acid market share, these main firms are concentrating on growing their consumer base into new countries. These businesses are making use of strategic collaboration initiatives to grow their market share and profits.
Mid-size and smaller businesses, on the other hand, are expanding their market presence by gaining new contracts and entering new markets, thanks to technical developments and product innovations.
As of 2021, the market for Acrylic Acid was valued at US$ 13.9 Billion, as per FMI
By 2022-end, sales of Acrylic Acid closed at a value of US$ 14.6 Billion
From 2015 to 2021, Acrylic Acid demand expanded at a CAGR of 5.2%
From 2022 to 2032, Acrylic Acid sales are expected to flourish at a CAGR of 4.5%
By 2032, the market value of Acrylic Acid is expected to reach US$ 22.6 Billion.
From 2022 to 2032, Acrylic Acid demand in the US is expected to surge at a CAGR of 3.9%
By Product, the Acrylate Esters category constitutes the bulk of market share with a CAGR of 4.6%.
The personal care products segment is expected to dominate the acrylic acid market with a CAGR of 4.3%.
1. Executive Summary 1.1. Global Market Outlook 1.2. Summary of Statistics 1.3. Key Market Characteristics & Attributes 1.4. FMI Analysis and Recommendations 2. Market Overview 2.1. Market Coverage / Taxonomy 2.2. Market Definition / Scope / Limitations 3. Market Risks and Trends Assessment 3.1. Risk Assessment 3.1.1. COVID-19 Crisis and Impact on Acrylic Acid Demand 3.1.2. COVID-19 Impact Benchmark with Previous Crisis 3.1.3. Impact on Market Value (US$ Mn) 3.1.4. Assessment by Key Countries 3.1.5. Assessment by Key Market Segments 3.1.6. Action Points and Recommendation for Suppliers 3.2. Key Trends Impacting the Market 3.3. Formulation and Product Development Trends 4. Market Background and Foundation Data Points 4.1. Global Acrylic Acid Market (US$ Mn) 4.2. Acrylic Acid Market Opportunity Assessment (US$ Mn) 4.2.1. Total Available Market 4.2.2. Serviceable Addressable Market 4.2.3. Serviceable Obtainable Market 4.3. Market Scenario Forecast 4.3.1. Demand in optimistic Scenario 4.3.2. Demand in Likely Scenario 4.3.3. Demand in Conservative Scenario 4.4. Investment Feasibility Analysis 4.4.1. Investment in Established Markets 4.4.1.1. In Short Term 4.4.1.2. In Long Term 4.4.2. Investment in Emerging Markets 4.4.2.1. In Short Term 4.4.2.2. In Long Term 4.5. Forecast Factors - Relevance & Impact 4.5.1. Top Companies Historical Growth 4.5.2. Global Acrylic Acid Market Growth 4.5.3. Acrylic Acid Adoption Rate, By Country 4.6. Market Dynamics 4.6.1. Market Driving Factors and Impact Assessment 4.6.2. Prominent Market Challenges and Impact Assessment 4.6.3. Acrylic Acid Market Opportunities 4.6.4. Prominent Trends in the Global Market & Their Impact Assessment 5. Key Success Factors 5.1. Manufacturers’ Focus on Low Penetration High Growth Markets 5.2. Banking on with Segments High Incremental Opportunity 5.3. Peer Benchmarking 6. Global Acrylic Acid Market Demand Analysis 2015-2021 and Forecast, 2022-2032 6.1. Historical Market Analysis, 2015-2021 6.2. Current and Future Market Projections, 2022-2032 6.3. Y-o-Y Growth Trend Analysis 7. Global Acrylic Acid Market Value Analysis 2015-2021 and Forecast, 2022-2032 7.1. Historical Market Value (US$ Mn) Analysis, 2015-2021 7.2. Current and Future Market Value (US$ Mn) Projections, 2022-2032 7.2.1. Y-o-Y Growth Trend Analysis 7.2.2. Absolute $ Opportunity Analysis 8. Global Acrylic Acid Market Analysis 2015-2021 and Forecast 2022-2032, By Product 8.1. Introduction / Key Findings 8.2. Historical Market Size (US$ Mn) Analysis By Product, 2015-2021 8.3. Current and Future Market Size (US$ Mn) Analysis and Forecast By Product, 2022-2032 8.3.1. Acrylate Esters 8.3.2. Glacial Acrylic Acid 8.3.3. Others 8.4. Market Attractiveness Analysis By Product 9. Global Acrylic Acid Market Analysis 2015-2021 and Forecast 2022-2032, By End-Use Industry 9.1. Introduction / Key Findings 9.2. Historical Market Size (US$ Mn) Analysis By End-Use Industry, 2015-2021 9.3. Current and Future Market Size (US$ Mn) Analysis and Forecast By End-Use Industry, 2022-2032 9.3.1. Surfactants 9.3.2. Organic Chemicals 9.3.3. Adhesives & Sealants 9.3.4. Textiles 9.3.5. Water Treatment 9.3.6. Personal Care Products 9.3.7. Others 9.4. Market Attractiveness Analysis By End-Use Industry 10. Global Acrylic Acid Market Analysis 2015-2021 and Forecast 2022-2032, By Region 10.1. Introduction 10.2. Historical Market Size (US$ Mn) Analysis By Region, 2015-2021 10.3. Current Market Size (US$ Mn) & Analysis and Forecast By Region, 2022-2032 10.3.1. North America 10.3.2. Latin America 10.3.3. Europe 10.3.4. Asia Pacific 10.3.5. Middle East and Africa (MEA) 10.4. Market Attractiveness Analysis By Region 11. North America Acrylic Acid Market Analysis 2015-2021 and Forecast 2022-2032 11.1. Introduction 11.2. Pricing Analysis 11.3. Historical Market Value (US$ Mn) Trend Analysis By Market Taxonomy, 2015-2021 11.4. Market Value (US$ Mn) & Forecast By Market Taxonomy, 2022-2032 11.4.1. By Country 11.4.1.1. U.S. 11.4.1.2. Canada 11.4.1.3. Rest of North America 11.4.2. By Product 11.4.3. By End-Use Industry 11.5. Market Attractiveness Analysis 11.5.1. By Country 11.5.2. By Product 11.5.3. By End-Use Industry 12. Latin America Acrylic Acid Market Analysis 2015-2021 and Forecast 2022-2032 12.1. Introduction 12.2. Pricing Analysis 12.3. Historical Market Value (US$ Mn) Trend Analysis By Market Taxonomy, 2015-2021 12.4. Market Value (US$ Mn) & Forecast By Market Taxonomy, 2022-2032 12.4.1. By Country 12.4.1.1. Brazil 12.4.1.2. Mexico 12.4.1.3. Rest of Latin America 12.4.2. By Product 12.4.3. By End-Use Industry 12.5. Market Attractiveness Analysis 12.5.1. By Country 12.5.2. By Product 12.5.3. By End-Use Industry 13. Europe Acrylic Acid Market Analysis 2015-2021 and Forecast 2022-2032 13.1. Introduction 13.2. Pricing Analysis 13.3. Historical Market Value (US$ Mn) Trend Analysis By Market Taxonomy, 2015-2021 13.4. Market Value (US$ Mn) & Forecast By Market Taxonomy, 2022-2032 13.4.1. By Country 13.4.1.1. Germany 13.4.1.2. France 13.4.1.3. U.K. 13.4.1.4. Italy 13.4.1.5. Benelux 13.4.1.6. Nordic Countries 13.4.1.7. Rest of Europe 13.4.2. By Product 13.4.3. By End-Use Industry 13.5. Market Attractiveness Analysis 13.5.1. By Country 13.5.2. By Product 13.5.3. By End-Use Industry 14. Asia Pacific Acrylic Acid Market Analysis 2015-2021 and Forecast 2022-2032 14.1. Introduction 14.2. Pricing Analysis 14.3. Historical Market Value (US$ Mn) Trend Analysis By Market Taxonomy, 2015-2021 14.4. Market Value (US$ Mn) & Forecast By Market Taxonomy, 2022-2032 14.4.1. By Country 14.4.1.1. China 14.4.1.2. Japan 14.4.1.3. South Korea 14.4.1.4. Rest of Asia Pacific 14.4.2. By Product 14.4.3. By End-Use Industry 14.5. Market Attractiveness Analysis 14.5.1. By Country 14.5.2. By Product 14.5.3. By End-Use Industry 15. Middle East and Africa Acrylic Acid Market Analysis 2015-2021 and Forecast 2022-2032 15.1. Introduction 15.2. Pricing Analysis 15.3. Historical Market Value (US$ Mn) Trend Analysis By Market Taxonomy, 2015-2021 15.4. Market Value (US$ Mn) & Forecast By Market Taxonomy, 2022-2032 15.4.1. By Country 15.4.1.1. GCC Countries 15.4.1.2. South Africa 15.4.1.3. Turkey 15.4.1.4. Rest of Middle East and Africa 15.4.2. By Product 15.4.3. By End-Use Industry 15.5. Market Attractiveness Analysis 15.5.1. By Country 15.5.2. By Product 15.5.3. By End-Use Industry 16. Key Countries Acrylic Acid Market Analysis 2015-2021 and Forecast 2022-2032 16.1. Introduction 16.1.1. Market Value Proportion Analysis, By Key Countries 16.1.2. Global Vs. Country Growth Comparison 16.2. US Acrylic Acid Market Analysis 16.2.1. Value Proportion Analysis by Market Taxonomy 16.2.2. Value & Analysis and Forecast by Market Taxonomy, 2022-2032 16.2.2.1. By Product 16.2.2.2. By End-Use Industry 16.3. Canada Acrylic Acid Market Analysis 16.3.1. Value Proportion Analysis by Market Taxonomy 16.3.2. Value & Analysis and Forecast by Market Taxonomy, 2022-2032 16.3.2.1. By Product 16.3.2.2. By End-Use Industry 16.4. Mexico Acrylic Acid Market Analysis 16.4.1. Value Proportion Analysis by Market Taxonomy 16.4.2. Value & Analysis and Forecast by Market Taxonomy, 2022-2032 16.4.2.1. By Product 16.4.2.2. By End-Use Industry 16.5. Brazil Acrylic Acid Market Analysis 16.5.1. Value Proportion Analysis by Market Taxonomy 16.5.2. Value & Analysis and Forecast by Market Taxonomy, 2022-2032 16.5.2.1. By Product 16.5.2.2. By End-Use Industry 16.6. Germany Acrylic Acid Market Analysis 16.6.1. Value Proportion Analysis by Market Taxonomy 16.6.2. Value & Analysis and Forecast by Market Taxonomy, 2022-2032 16.6.2.1. By Product 16.6.2.2. By End-Use Industry 16.7. France Acrylic Acid Market Analysis 16.7.1. Value Proportion Analysis by Market Taxonomy 16.7.2. Value & Analysis and Forecast by Market Taxonomy, 2022-2032 16.7.2.1. By Product 16.7.2.2. By End-Use Industry 16.8. Italy Acrylic Acid Market Analysis 16.8.1. Value Proportion Analysis by Market Taxonomy 16.8.2. Value & Analysis and Forecast by Market Taxonomy, 2022-2032 16.8.2.1. By Product 16.8.2.2. By End-Use Industry 16.9. BENELUX Acrylic Acid Market Analysis 16.9.1. Value Proportion Analysis by Market Taxonomy 16.9.2. Value & Analysis and Forecast by Market Taxonomy, 2022-2032 16.9.2.1. By Product 16.9.2.2. By End-Use Industry 16.10. UK Acrylic Acid Market Analysis 16.10.1. Value Proportion Analysis by Market Taxonomy 16.10.2. Value & Analysis and Forecast by Market Taxonomy, 2022-2032 16.10.2.1. By Product 16.10.2.2. By End-Use Industry 16.11. Nordic Countries Acrylic Acid Market Analysis 16.11.1. Value Proportion Analysis by Market Taxonomy 16.11.2. Value & Analysis and Forecast by Market Taxonomy, 2022-2032 16.11.2.1. By Product 16.11.2.2. By End-Use Industry 16.12. China Acrylic Acid Market Analysis 16.12.1. Value Proportion Analysis by Market Taxonomy 16.12.2. Value & Analysis and Forecast by Market Taxonomy, 2022-2032 16.12.2.1. By Product 16.12.2.2. By End-Use Industry 16.13. Japan Acrylic Acid Market Analysis 16.13.1. Value Proportion Analysis by Market Taxonomy 16.13.2. Value & Analysis and Forecast by Market Taxonomy, 2022-2032 16.13.2.1. By Product 16.13.2.2. By End-Use Industry 16.14. South Korea Acrylic Acid Market Analysis 16.14.1. Value Proportion Analysis by Market Taxonomy 16.14.2. Value & Analysis and Forecast by Market Taxonomy, 2022-2032 16.14.2.1. By Product 16.14.2.2. By End-Use Industry 16.15. GCC Countries Acrylic Acid Market Analysis 16.15.1. Value Proportion Analysis by Market Taxonomy 16.15.2. Value & Analysis and Forecast by Market Taxonomy, 2022-2032 16.15.2.1. By Product 16.15.2.2. By End-Use Industry 16.16. South Africa Acrylic Acid Market Analysis 16.16.1. Value Proportion Analysis by Market Taxonomy 16.16.2. Value & Analysis and Forecast by Market Taxonomy, 2022-2032 16.16.2.1. By Product 16.16.2.2. By End-Use Industry 16.17. Turkey Acrylic Acid Market Analysis 16.17.1. Value Proportion Analysis by Market Taxonomy 16.17.2. Value & Analysis and Forecast by Market Taxonomy, 2022-2032 16.17.2.1. By Product 16.17.2.2. By End-Use Industry 16.17.3. Competition Landscape and Player Concentration in the Country 17. Market Structure Analysis 17.1. Market Analysis by Tier of Companies 17.2. Market Concentration 17.3. Market Share Analysis of Top Players 17.4. Market Presence Analysis 17.4.1. By Regional footprint of Players 17.4.2. Product footprint by Players 18. Competition Analysis 18.1. Competition Dashboard 18.2. Competition Benchmarking 18.3. Competition Deep Dive 18.3.1. Arkema S.A. 18.3.1.1. Overview 18.3.1.2. Product Portfolio 18.3.1.3. Sales Footprint 18.3.1.4. Strategy Overview 18.3.2. BASF SE 18.3.2.1. Overview 18.3.2.2. Product Portfolio 18.3.2.3. Sales Footprint 18.3.2.4. Strategy Overview 18.3.3. Evonik Industries AG 18.3.3.1. Overview 18.3.3.2. Product Portfolio 18.3.3.3. Sales Footprint 18.3.3.4. Strategy Overview 18.3.4. Nippon Shokubai Co. Ltd. 18.3.4.1. Overview 18.3.4.2. Product Portfolio 18.3.4.3. Sales Footprint 18.3.4.4. Strategy Overview 18.3.5. Dow Chemical Company 18.3.5.1. Overview 18.3.5.2. Product Portfolio 18.3.5.3. Sales Footprint 18.3.5.4. Strategy Overview 18.3.6. LG Chem Ltd. 18.3.6.1. Overview 18.3.6.2. Product Portfolio 18.3.6.3. Sales Footprint 18.3.6.4. Strategy Overview 18.3.7. Hexion Inc. 18.3.7.1. Overview 18.3.7.2. Product Portfolio 18.3.7.3. Sales Footprint 18.3.7.4. Strategy Overview 18.3.8. Mitsubishi Chemical Holdings Corporation 18.3.8.1. Overview 18.3.8.2. Product Portfolio 18.3.8.3. Sales Footprint 18.3.8.4. Strategy Overview 18.3.9. Sibur Holding 18.3.9.1. Overview 18.3.9.2. Product Portfolio 18.3.9.3. Sales Footprint 18.3.9.4. Strategy Overview 19. Assumptions and Acronyms Used 20. Research Methodology
Chemicals & Materials
April 2021
REP-GB-339
January 2023
254 pages
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Acrylic Acid Market
