Acrylic Acid Market is projected to attain a size over USD 19.2 billion by 2030

Pune, India, February 19, 2018 /MRFR Press Release/- Market research future published a Half cooked research report on Global Acrylic Acid Market.

Market Overview

Acrylic acid is an inorganic composite with an acrid or bitter smell. A big portion of this composite is adopted as a ‘raw material’ for the generation of acrylate esters. Acrylate esters have wide applications in textiles, plastic additives, paper treatment, adhesives, and sealants. Various industries sell & create manufacturing procedures for acrylic acid (from petrochemicals).

Owing to escalating oil prices worldwide, producers are employing bio-based procedures to manufacture acrylates and unsaturated carboxylic acid from sugar, glycerol, and other renewable sources. Renewable raw materials deliver cost-effective solutions as compared to petrochemical routes. Consumption around the world is said to increase massively by 2022.      

Market Analysis

The acrylic acid market is predicted to grow at about 4.80% during the forecast period (2022-2030). The product is generated from propylene, a derivative during the production of gasoline & ethylene. Its features are colorlessness, climatic endurance, low-temperature adaptability, and others. These positive features bode well for the industry and drive its sales.    

Demand from the sectors of adult incontinence, personal care, & detergents have also raised industry growth. Other vital industry propellers are acrylic-based Asian Pacific applications, demand for superabsorbent polymers, and the expanding sealants & adhesives industry.

Strong regulations on organic compounds exist in Europe and North America owing to their eco-concerns. Because of the probable drawbacks, their growth is limited. Manufacturers intend on research & developments to locate eco-based roots for raising the market size & production. Additionally, higher demand for PMMA resins and lucrativeness of bio-based compounds across end-users will create further opportunities for investors.

Categorization

The acrylic acid industry is fragmented into applications, derivatives, and geographies. Adhesives & sealants, surface coatings, plastic additives, diapers, textiles, water treatment, and surfactants constitute the applications. As of now, diapers lead the market and will continue doing so till the end of the forecast period.

Surfactants are the most rapidly growing sub-segment. Acrylic surfactants are adopted to improve the luster, agility, & endurance of coatings. They enhance the mechanical strength and durability of paints. All these factors propel the demand for surfactants.

Derivatives consist of acrylate polymers, acrylate esters, and others. Acrylate esters are dominating the market and likely to continue likewise in the near future. Acrylate polymers can be the most rapidly expanding sub-segment over the forecast period. They are broadly employed for binders, coatings, cosmetics, aircraft canopies, gun turrets, etc.     

Widely recognized for their purity, advanced technology, and consistency, they are used across various applications. Acrylate esters have tremendous potential for further growth till 2022. Geographies under which the acrylic acid market is categorized; include Asia Pacific, Europe, North America, and rest of the world (Africa and the Middle East).   

Targeted Audiences and

Regional Analysis

The worldwide market has audiences in traders & distributors, trade experts & investors, chemical consulting, industrial organizations, and governmental associations. The industry is projected to attain a size over USD 18, 314 million by 2022. North America is the biggest market and will account for about USD 4, 950 million by the end of the same year. China occupied the largest shares in 2014. India followed suit the same year.

Players and Their Strategies

Companies participating in the acrylic acid market include BASF SE, Dow Chemical Company, Myriant Corporation, SIBUR, and the Lubrozol Corporation. Contracts and product innovations are some of the key strategies employed by these players to succeed in their endeavors and generate higher revenues.

News/Advancements

Last year, “SK Innovation” acquired the business of EAA (ethylene acrylic acid) to grow its chemical markets. The firm is looking forward to developing a synergy by linking with current manufacturing & product technologies. DuPont’s ethylene acrylic acid resins offer brilliant adhesion to polar and aluminium substrates. Their advantages comprise low-temperature seal initiation and higher product-life.

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