BANGALORE, India, March 2, 2022 /PRNewswire/ -- The Acrylic Acid Market is Segmented by Derivative Type (Acrylic Esters, Acrylic Polymer, and Others), and End-User (Diapers, Surface Coatings Industry, Adhesives and Sealants Industry, Plastic Additives Industry, Water Treatment Industry, Textiles Industry, Surfactants Industry, and Others). The report covers global opportunity analysis and industry forecasts from 2021 to 2030.
The acrylic acid market size was valued at USD 12.0 billion in 2020, and it is anticipated to reach USD 19.2 billion by 2028, registering a CAGR of about 4.8% during the forecast period (2021 to 2030).
Major Factors Driving The Growth Of The Acrylic Acid Market
Growing demand for glacial acrylic acid (GAA) in superabsorbent polymers (SAP) for diapers, water treatment processes, and surface coating applications is expected to be a major driver for the growth of the acrylic acid market. Furthermore, the acrylic acid market is expected to be fueled by rising demand for surfactants, adhesives, and sealants.
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Trends Influencing The Growth Of The Acrylic Acid Market
The Acrylic Acid market in the hygiene industry is expected to be driven by rising hygiene awareness, growing infant and aging populations in emerging economies, and ongoing demand for feminine hygiene products. SAPs are materials that can absorb and retain large quantities of liquid or aqueous solutions. As a result, they're ideal for water-absorbing applications like baby diapers, adult incontinence pads, absorbent medical dressings, and controlled-release drugs. As a result, the growing use of acrylic polymer in diaper manufacturing is expected to propel the acrylic acid market forward.
Acrylic acid is increasingly being used to make acrylate esters, which are used in a variety of applications including paints and coatings, textiles, plastics, and adhesives. The overall acrylic acid market is being propelled by the growth seen in the construction sector and new infrastructure projects around the world. Furthermore, the growing use of Butyl acrylates, which account for the majority of acrylate esters demand, is primarily driven by coating applications, boosting the Acrylic acid market.
Features such as variable degrees of durability, hardness, tackiness, and glass transition temperatures are expected to promote consumption in a variety of end-use applications. This in turn is expected to drive the growth of the Acrylic acid market.
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Acrylic Acid Market Share Analysis
Diapers dominated the global acrylic acid market in terms of revenue in 2020, owing to rapid increases in consumers' disposable income and urbanization, which are driving the adoption of acrylic-based diapers in emerging and developed economies.
Rising demand for superabsorbent polymers and widespread acceptance of acrylic-based products in emerging economies such as Asia-Pacific is driving the acrylic acid market. Because of the increasing adoption of superabsorbent polymers by disposable diaper manufacturers, the acrylic polymer segment dominated the global acrylic acid market in 2020 and is expected to continue to do so during the forecast period.
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Key Market Players
- Mitsubishi Chemical Holdings Corporation
- Arkema S.A.
- BASF SE
- The Dow Chemical Co.
- The Lubrizol Corporation
- Evonik, Industries Ag
- LG Chem Ltd.
- Myriant Corporation
- Formosa Plastic Group
- SIBUR
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SIMILAR REPORTS
- The global Glacial Acrylic Acid market size is estimated to be worth USD 3640.5 Million in 2022 and is forecast to a readjusted size of USD 4740.8 Million by 2028 with a CAGR of 4.5% during the review period.
- The global Acrylic Acid Copolymer market size is estimated to be worth USD 799 Million in 2022 and is forecast to a readjusted size of USD 999.4 Million by 2028 with a CAGR of 3.8% during the review period.
- The global Acrylic Acid and its Derivatives market size is estimated to be worth USD 11700 Million in 2022 and is forecast to a readjusted size of USD 13970 Million by 2028 with a CAGR of 3.0% during the review period.
- The global Acrylic Acid and Esters market size is estimated to be worth USD 10570 Million in 2022 and is forecast to a readjusted size of USD 12400 Million by 2028 with a CAGR of 2.7% during the review period.
- The Global Ethylene Acrylic Acid Copolymer market size is estimated to be worth USD 237.5 Million in 2022 and is forecast to a readjusted size of USD 351.3 Million by 2028 with a CAGR of 6.7% during the review period.
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