Procurement Intelligence for Acrylic Acid Market: Enhancing Supply Chain Management and Risk Management

Acrylic Acid Market Overview

The global acrylic acid market is witnessing significant growth, fueled by its increasing application in various industries, including adhesives, paints, and coatings, as well as textiles and plastics. Acrylic acid serves as a crucial raw material for superabsorbent polymers (SAPs), widely used in personal care products and hygiene applications. This report presents a comprehensive analysis of procurement trends in the acrylic acid market, emphasizing cost optimization strategies, supply chain dynamics, and the importance of digital procurement tools for enhancing sourcing accuracy. Additionally, we address future procurement challenges and emphasize the importance of digital procurement tools in accurately forecasting market needs to keep clients ahead in this dynamic landscape. Strategic sourcing  and procurement management  play a crucial role in streamlining the procurement process for acid development. As competition intensifies, companies are leveraging market intelligence solutions and procure analytics  to optimize their supply chain management systems.

The outlook for the acrylic acid market remains robust, with several key projections and trends shaping its growth through 2032:

• Market Size: The global acrylic acid market is projected to reach approximately USD 21 billion by 2032, with a compound annual growth rate (CAGR) of around 5% from 2024 to 2032.

Growth rate: 5 %

• Sector Contributions: Major sectors contributing to growth include:

• Adhesives and Sealants: Increasing demand for high-performance adhesives in various applications is driving market expansion.


• Paints and Coatings: The rising need for eco-friendly and durable coatings is fostering the growth of acrylic acid-based products.

• Technological Transformation and Innovations in the Acrylic Acid Market: Advances in chemical processing technologies, including improved catalysts and production techniques, are enhancing the efficiency and cost-effectiveness of acrylic acid production. Innovations in green chemistry, such as bio-based acrylic acid, are gaining momentum, with a focus on reducing environmental impact and increasing sustainability. Additionally, advancements in polymerization technologies are expanding the applications of acrylic acid in high-performance coatings, adhesives, and superabsorbent polymers.

• Regional Insights: While North America and Asia-Pacific lead the market, Europe is expected to exhibit steady growth due to strict environmental regulations promoting sustainable products.

Key Trends and Sustainability Outlook

• Sustainable Practices: The growing emphasis on sustainability is driving manufacturers to adopt acrylic acid formulations that reduce environmental impact.


• Biobased Acrylic Acid: Development of biobased acrylic acid from renewable resources is gaining traction, aligning with global sustainability goals.


• Technological Advancements: Innovations in production processes are enhancing efficiency and reducing costs in acrylic acid manufacturing.

Growth Drivers

• Rising Demand for SAPs: The increasing use of superabsorbent polymers in diapers and feminine hygiene products is significantly boosting acrylic acid demand.


• Urbanization and Construction Growth: Rapid urbanization and infrastructure development in emerging economies are leading to higher consumption of acrylic acid in paints and coatings.


• Evolving Regulatory Landscape: Stringent regulations on VOC emissions are encouraging the shift towards acrylic acid-based eco-friendly products.


• Research and Development Investment: Increased R&D spending is fostering innovation and application development in the acrylic acid market.


• Cost Competitiveness: As production processes improve, the cost-effectiveness of acrylic acid is enhancing its attractiveness for various industrial applications

Overview of Market Intelligence Services for the Acrylic acid  Market

Recent analysis indicate that the acrylic acid market is experiencing volatile pricing due to fluctuations in raw material availability and production costs. Market reports provide detailed cost breakdowns, including projections for acrylic acid prices and insights into supply chain dynamics. By leveraging these insights, companies can refine their procurement strategies, manage costs effectively, and make informed decisions regarding sourcing materials. With real-time data and industry-specific forecasts, stakeholders are better equipped to optimize their investments in the acrylic acid market, maximizing profitability while adapting to evolving industry demands.

Procurement Intelligence for the Acrylic Acid Market: Category Management and Strategic Sourcing

To stay ahead in the acrylic acid market, companies are optimizing procurement strategies, leveraging spend analysis solutions for vendor spend analysis, and enhancing supply chain efficiency through supply market intelligence. Procurement category management and strategic sourcing are becoming vital in achieving cost-effective procurement and ensuring timely availability of essential raw materials for acrylic acid production. With increasing demand for high-quality acrylic acid in industries such as adhesives, coatings, and superabsorbent polymers, it is crucial for companies to strategically manage their supplier base and identify cost-effective sourcing opportunities. Additionally, improving supplier performance and strengthening vendor relationships are key to maintaining a competitive edge in this dynamic market.

Acrylic Acid Market Pricing Outlook: Spend analysis

The acrylic acid market is currently undergoing dynamic pricing trends, primarily influenced by fluctuations in raw material costs, production capacities, and demand from key end-use industries. As acrylic acid is a vital component in products such as superabsorbent polymers, paints, and adhesives, pricing is heavily impacted by its wide range of applications.

Comprehensive Price Forecast

Our in-depth analysis reveals a projected upward price trend for acrylic acid driven by several key factors:

• Raw Material Costs: The prices of key feedstocks, such as propylene, are experiencing volatility, directly affecting acrylic acid pricing. Supply constraints and geopolitical factors are contributing to these fluctuations.


• Increased Demand: Rising demand from industries such as adhesives, coatings, and personal care products is propelling prices higher. The shift towards more sustainable products also boosts demand for acrylic acid derivatives.


• Technological Advancements: Investments in advanced production technologies are expected to enhance yield and efficiency, but the initial capital requirements can lead to short-term price increases.


• Market Expansion: The growth of emerging markets, particularly in Asia-Pacific, is increasing competition and driving up demand, which could lead to further price escalations.

Cost Breakdown for the Acrylic acid: Total cost of ownership  TCO and cost saving opportunities

1. Acrylic Acid Raw Materials (40%)

• Description: This includes costs for key raw materials used in the production of acrylic acid, such as propylene, which is the primary feedstock, along with other chemical additives and solvents.


• Trends: The prices of propylene and other raw materials have been volatile due to fluctuations in crude oil prices and supply chain disruptions. Increased focus on sustainable sourcing and alternative feedstocks is leading to higher initial costs, though these are balanced by long-term savings in production efficiency.

1. Equipment & Machinery (XX%)

• Description: XX


• Trends: XX

1. Software & Digital Tools (XX%)

• Description: XX


• Trends: XX

1. Labor & Operational Costs (XX%)

• Description: XX


• Trends: XX

Cost-Saving Opportunities in the Acrylic Acid Market: : Negotiation Lever and Purchasing Negotiation Strategies

Optimizing procurement strategies in the acrylic acid market offers significant cost-saving opportunities. Collaborative purchasing of raw materials like propylene allows companies to leverage bulk buying for discounts.

Utilizing process optimization tools, such as real-time monitoring and data analytics, can minimize production waste and reduce costs. Investing in energy-efficient production technologies lowers utility expenses, enhancing overall profitability.

Establishing strategic supplier partnerships provides favorable terms, such as flexible payment options and volume discounts, improving cash flow. Additionally, integrating digital supply chain management tools streamlines procurement, reduces lead times, and enhances inventory control.

These strategies promote sustainability while maximizing production efficiency and profitability in the acrylic acid market.

Supply and Demand Overview of the Acrylic Acid Market: Demand-Supply Dynamics and Buyer Intelligence for Effective Supplier Relationship Management (SRM)

The acrylic acid market is experiencing robust growth driven by increasing demand from industries such as adhesives, coatings, superabsorbent polymers, and textiles. Demand is particularly high due to the rising need for eco-friendly and durable materials, supported by innovations in polymerization technologies and sustainability trends

Demand Factors:

1. Industrial Applications: The rising demand for acrylic acid across various industries, including adhesives, coatings, and textiles, is driving its consumption as these sectors seek versatile and high-performance materials.


2. Growing End-User Industries: Increased utilization in the production of superabsorbent polymers (SAPs) for personal hygiene products, and in paints and coatings, is significantly boosting demand.


3. Sustainability Initiatives: Companies are increasingly adopting acrylic acid for eco-friendly applications, such as water-based coatings and adhesives, aligning with global sustainability trends.


4. Technological Advancements: Innovations in production techniques and formulations are expanding the applications of acrylic acid, further stimulating demand in established and emerging markets.

Supply Factors:

1. Raw Material Accessibility: The availability of key raw materials, such as propylene, supports the consistent supply of acrylic acid, allowing manufacturers to meet growing demand effectively.


2. Production Capacity Expansion: Investments in new production facilities and upgrades to existing plants in regions like Asia-Pacific and North America enhance overall supply chain capacity and resilience.


3. Technological Improvements: Advances in production processes and equipment are leading to increased efficiency and lower operational costs, making it easier for suppliers to meet demand.


4. Market Competition: The acrylic acid market is characterized by intense competition among manufacturers, driving innovation and competitive pricing, which improves supply availability.

Regional Demand-Supply Outlook: Acrylic Acid Market in the Asia-Pacific Region

Asia-Pacific: Emerging Leader in the Acrylic Acid Market

The Asia-Pacific region, especially countries like China, Japan, and India, is rapidly becoming a dominant player in the global acrylic acid market, characterized by:

1. Growing Industrial Demand: Industries such as adhesives, paints, coatings, and textiles are expanding in the Asia-Pacific region, leading to a significant increase in demand for acrylic acid as manufacturers seek versatile materials for various applications.


2. Investment in Production Facilities: The region is witnessing substantial investments in new production facilities and capacity expansions by key players, ensuring a reliable supply of acrylic acid to meet rising demand across multiple sectors.


3. Technological Innovations: Advances in production processes, such as the use of more efficient catalysts and environmentally friendly methods, are enhancing the production efficiency of acrylic acid, making it more accessible and cost-effective for manufacturers.


4. Regulatory Influence: With increasing environmental regulations, particularly in countries like Japan and South Korea, manufacturers are focusing on developing sustainable acrylic acid products, which is shaping supply strategies and product offerings in the market.


5. Market Competition: A diverse array of local and international suppliers enhances competition, driving improvements in product quality, pricing, and service levels, which benefits end-users and promotes market growth.


6. Rising Export Potential: As the demand for acrylic acid continues to rise globally, the Asia-Pacific region is positioning itself as a key exporter, capitalizing on its robust manufacturing capabilities and lower production costs.

Asia Pacific region  remains a key hub for acrylic  acid market  growth

Supplier Landscape: Supplier Negotiations and Strategies in the Acrylic Acid Market

The supplier penetration in the acrylic acid market is substantial, with a growing number of global and regional players contributing to the production and supply of acrylic acid and its derivatives. These suppliers play a critical role in shaping the overall market dynamics, impacting pricing, innovation, and accessibility. The market is highly competitive, with suppliers ranging from large multinational chemical giants to specialized firms focused on developing sustainable and innovative acrylic acid solutions.

Currently, the supplier landscape is characterized by significant consolidation among top-tier chemical companies, which dominate the market share. However, emerging companies and startups are expanding their presence by focusing on niche applications, eco-friendly manufacturing processes, and developing new acrylic acid-based products that cater to the growing demand for sustainability in various industries.

Some of the key suppliers in the acrylic acid market include:

1. BASF SE


2. Dow Inc.


3. LG Chem


4. SABIC (Saudi Basic Industries Corporation)


5. Evonik Industries AG


6. Arkema Group


7. Mitsubishi Chemical Corporation


8. Formosa Plastics Corporation


9. Nippon Shokubai Co., Ltd.


10. Huntsman Corporation

Key Development: Procurement Category Significant Developments: