The Acrolein Market Size was estimated at 4.7 (USD Billion) in 2022. The Acrolein Industry is expected to grow from 4.77(USD Billion) in 2023 to 5.43 (USD Billion) by 2032. The Acrolein Market CAGR (growth rate) is expected to be around 1.46% during the forecast period (2024 - 2032).
Key Acrolein Market Trends Highlighted
The acrolein market is, to an extent, expected to grow over the forecast period due to its increasing uptake in various end-use industries. The market is also anticipated to grow owing to the growing application of acrolein in producing acrylic acid, which in turn is described as one of the ingredients in the production of superabsorbent polymers, adhesives, and coatings. A further type of expansion includes the greater application of acrolein as a chemical building block in the manufacture of pharmaceuticals, agrochemicals, and plastics. Some of the market growth propellers include the increasing need for acrylic acid, the greater acceptance of acrolein in organic synthesis, and the higher consumption of acrolein in superabsorbent polymer production. Visits for the growth include the growing end-use sectors, the rise in new utilization of acrolein, and the rise in the need for green products. Development trends encompass increasing bio-based acrolein, new progressing technology in acrolein manufacture, and rising growth of acrolein use in new markets.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Acrolein Market Drivers
Growing Demand for Acrolein in Herbicides and Pesticides
Acrolein is a versatile chemical intermediate used for a wide range of applications, predominantly in the production of herbicides and pesticides. The continuous growth of the population increases the demand for agricultural products. This, in turn, benefits the herbicides and pesticides market, which actively stimulates the development of the acrolein market. Acrolein-based herbicides and pesticides are extremely efficient for the disposal of unwanted weeds and pests.Acrolein is widely used in numerous agricultural applications, with the most common being crop protection, vegetation management, and forestry. The adaptation and widespread use of acrolein-based herbicides and pesticides are only expected to grow in the upcoming years in view of continuously growing demands for agricultural products and the need for efficient solutions for pest control.
Expansion of the Chemical Intermediates Industry
Acrolein is an important chemical intermediate used in the production of a wide range of chemicals, including acrylic acid, acrylic esters, and methacrylic acid. The expansion of the chemical intermediates industry, particularly in emerging economies, is creating a strong demand for acrolein. Acrylic acid is a key component in the production of superabsorbent polymers, which are used in disposable diapers and other absorbent products. The growing demand for superabsorbent polymers is expected to drive the growth of the acrolein market in the coming years.
Increasing Environmental Regulations
Stringent environmental regulations aimed at reducing air and water pollution are driving the demand for acrolein as a substitute for other harmful chemicals. Acrolein is a relatively biodegradable compound, and it has a lower environmental impact compared to other chemicals used in similar applications. As environmental regulations become more stringent, the demand for acrolein is expected to increase in the coming years.
Acrolein Market Segment Insights
Acrolein Market Application Insights
The Application segment in the Acrolein Market holds immense significance due to the diverse usage of acrolein in various industries. Methamidophos production, a key intermediate in manufacturing insecticides, represents another significant application of acrolein, contributing to the growth of the segment. The pharmaceutical industry also utilizes acrolein as a precursor in the production of certain medications. Additionally, acrolein finds application in polymer production, particularly in the manufacturing of acrylic resins and polymers, which are used in various industries, including automotive, construction, and packaging.The growth of the Acrolein Market is attributed to factors such as the increasing demand for herbicides, the expansion of the pharmaceuticals industry, and the growing adoption of acrolein-based polymers. These factors are expected to drive the demand for acrolein across various applications, contributing to the overall growth of the market.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Acrolein Market Grade Insights
The Acrolein Market segmentation by Grade comprises 99% and 99.5%. The 99% segment held the largest market share in 2023, accounting for 65.7% of the Acrolein Market revenue. The 99.5% segment is expected to grow at a CAGR of 1.9% during the forecast period, owing to the increasing demand for high-purity acrolein in various applications. The Acrolein Market is expected to reach USD 5.43 Billion by 2032, growing at a CAGR of 1.46% from 2024 to 2032.
Acrolein Market Route Insights
The Acrolein Market segmentation by Market Route includes Spot, Contract, and Imported. The Contract segment held the largest share of the Acrolein Market in 2023, accounting for around 55.0% of the market revenue. The demand for Acrolein through contracts provides stability to both suppliers and consumers, ensuring a steady supply and price predictability. The Spot segment is expected to grow at a CAGR of 2.5% during the forecast period 2024-2032 due to the increasing demand for Acrolein in the short term and the flexibility it offers to buyers and sellers.The Imported segment is expected to grow at a CAGR of 1.8% during the forecast period 2024-2032, as countries with limited domestic production rely on imports to meet their demand for Acrolein.
Acrolein Market Packaging Type Insights
The Packaging Type segment of the Acrolein Market is segmented into Drums and Tanks. In 2023, the Drums segment held the largest share of the market, accounting for approximately 60% of the Acrolein Market revenue. The Tanks segment is expected to grow at a CAGR of 2.5% during the forecast period (2024-2032), owing to the increasing demand for acrolein in the chemical industry. Drums are preferred for smaller volumes of acrolein, while tanks are used for larger volumes. The market growth for both packaging types is expected to be driven by the increasing demand for acrolein in various industries, including the chemical, pharmaceutical, and agricultural industries.
Acrolein Market Regional Insights
Regionally, North America held the largest market share in 2023, accounting for 38.5% of the revenue. Europe followed with a share of 27.2%, while APAC, South America, and MEA accounted for 21.8%, 7.5%, and 5.0%, respectively. The growth in the North American market can be attributed to the increasing demand for acrolein in the production of acrylic acid, which is used in the manufacturing of paints, coatings, and adhesives. Europe is also a significant market for acrolein, with major applications in the chemical and pharmaceutical industries.The APAC region is expected to witness the highest growth rate during the forecast period, owing to the rising demand for acrolein in the region's rapidly growing construction and automotive sectors.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Acrolein Market Key Players And Competitive Insights:
The major players in the Acrolein Market are highly focused on gaining a competitive edge by employing innovative strategies. The strategies that the leading companies implement include expanding their product portfolios, investing in Research and Development, and forming strategic partnerships. BASF2 and Evonik are the major players in the market, and they are currently focused on developing their product portfolios to be cost-effective and more sustainable. Additionally, the Acrolein Market industry is strongly competitive, with key players such as BASF and Evonik now using mergers and acquisitions as a means to gain a competitive edge in the market. Further, the market is being driven by the entry of new players as well as the expansion of the existing players into new geographical locations. In addition, the development of the Acrolein Market is also determined by technology, which has resulted in the innovation of different products and raw materials. BASF is a major market player in the acrolein market, having several multinational operations and a broad product portfolio. The company is committed to adopting sustainable production methods and is continuously investing in innovative research and development to improve the quality of its products. BASF has a strong customer base and well-established distribution networks that make it highly competitive.Evonik is also a major competitor in the Acrolein Market industry, offering high-quality products. The company has a strong and innovative Research and Development team that is continuously developing new products as a way of meeting the waning needs and requirements of its customers. Evonik has a presence and well-developed distribution networks, which makes it strongly competitive in the market. In addition, the company is focused on forming strategic partnerships as a means to expand its products and enter into new markets.
Key Companies in the Acrolein Market Include:
Formosa Chemicals Fibre Corporation
Lonza
Sinopec
Arkema
Tokuyama
Evonik
Solvay
Perstorp
BASF
Dow Chemicals
SABIC
Sumitomo Chemical
Westlake Chemical
Acrolein Market Industry Developments
The acrolein market is poised to exhibit a steady growth trajectory, reaching a valuation of USD 5.43 billion by 2032, expanding at a CAGR of 1.46% from 2024 to 2032. The market is primarily driven by the increasing demand for acrolein in various industries, including chemical manufacturing, pharmaceuticals, and agriculture. Recent advancements in manufacturing processes and the development of new applications are further fueling market growth. Key players in the market are adopting strategic initiatives such as mergers and acquisitions to expand their footprint and enhance their product offerings. Ongoing research and development activities are expected to create new opportunities for market expansion in the coming years.
Acrolein Market Segmentation Insights
Acrolein Market Application Outlook
Herbicides
Methamidophos Production
Glyphosate Production
Polymer Production
Pharmaceuticals
Acrolein Market Grade Outlook
99%
99.5%
Acrolein Market Route Outlook
Spot
Contract
Imported
Acrolein Market Packaging Type Outlook
Drums
Tanks
Acrolein Market Regional Outlook
North America
Europe
South America
Asia Pacific
Middle East and Africa
| Report Attribute/Metric | Details |
| Market Size 2022 | 4.7(USD Billion) |
| Market Size 2023 | 4.77(USD Billion) |
| Market Size 2032 | 5.43(USD Billion) |
| Compound Annual Growth Rate (CAGR) | 1.46% (2024 - 2032) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year | 2023 |
| Market Forecast Period | 2024 - 2032 |
| Historical Data | 2019 - 2023 |
| Market Forecast Units | USD Billion |
| Key Companies Profiled | Formosa Chemicals Fibre Corporation, Lonza, Sinopec, Arkema, Tokuyama, Evonik, Solvay, Perstorp, BASF, Dow Chemicals, SABIC, Sumitomo Chemical, Westlake Chemical |
| Segments Covered | Application, Grade, Market Route, Packaging Type, Regional |
| Key Market Opportunities | Increasing demand in agriculture waterproof coatings and water treatment |
| Key Market Dynamics | Increasing demand from the pharmaceutical industry Growing use in agriculture Expansion of chemical industry Stringent regulations on emissions Technological advancements |
| Countries Covered | North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Acrolein Market is expected to reach a valuation of approximately 4.77 billion USD in 2023.
The Acrolein Market is anticipated to exhibit steady growth at a CAGR of around 1.46% from 2024 to 2032.
The increasing demand for acrolein in various industries, such as chemical manufacturing, agriculture, and pharmaceuticals, is a primary factor driving the growth of the Acrolein Market.
The North American region is projected to dominate the Acrolein Market due to the presence of a large chemical industry and growing demand from developing countries
Some of the prominent players in the Acrolein Market include BASF SE, Dow Chemical Company, LG Chem, and Evonik Industries.
Acrolein finds applications in the production of acrylic acid, which is used in the manufacturing of plastics, paints, and textiles. It is also utilized as a precursor in the synthesis of various chemicals and pharmaceuticals.
Acrolein is subject to regulations in various countries due to its toxic nature. Regulatory bodies such as the Environmental Protection Agency (EPA) in the United States and the European Chemicals Agency (ECHA) have established guidelines for the safe handling, storage, and disposal of acrolein.
The Acrolein Market faces challenges such as fluctuations in raw material prices, stringent environmental regulations, and competition from alternative chemicals
The Acrolein Market is projected to reach a valuation of approximately 5.43 billion USD by 2032.
The Acrolein Market is witnessing a growing emphasis on sustainable production processes and the development of bio-based acrolein to reduce environmental impact.
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Senior Research Analyst With an experience of over five years in market research industry (chemicals & materials domain), i gather and analyze market data from diverse sources to produce results, which are then presented back to a client. also, provide recommendations based on the findings. as a senior research analyst, i perform quality checks (qc) for market estimations, qc for reports, and handle queries and work extensively on client customizations. also, handle the responsibilities of client proposals, report planning, report finalization, and execution
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