Global Acrylic Acid Derivatives Market Overview
The Acrylic Acid Derivatives Market Size was estimated at 18.17 (USD Billion) in 2022. The Acrylic Acid Derivatives Industry is expected to grow from 18.96 (USD Billion) in 2023 to 27.76 (USD Billion) by 2032. The Acrylic Acid Derivatives Market CAGR (growth rate) is expected to be around 4.33% during the forecast period (2024 - 2032).
Key Acrylic Acid Derivatives Market Trends Highlighted
A dynamic market condition can be seen in the acrylic acid derivatives market due to several drivers. Increased demand for adhesives and sealants in the construction industry and automotive sector is driving the growth of the market. This has also contributed significantly to its expansion as a wider range of applications in paints and coatings in the automotive industry and consumer electronics are growing at a fast rate. Income increase and urbanization expansion into construction sectors in developing nations enable opportunities for market enlargement. New arenas for growth exist within this field such that personal care products, e.g., healthcare supplies and cosmetics, haven’t yet begun to exploit their potential via using acrylic acid derivatives. In response to this rising trend towards eco-friendly alternatives that are sustainable, there has been an increased preference for bio-based acrylic acid derivatives derived from renewable sources. In addition, research further fuels market growth through innovative production processes that increase efficiency while minimizing environmental impact.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Acrylic Acid Derivatives Market Drivers
Rising Demand for Superabsorbent Polymers
Superabsorbent polymers (SAPs) are a key component in a variety of consumer products, including diapers, feminine hygiene products, and adult incontinence products. The increasing demand for these products is driving the growth of the acrylic acid derivatives market. SAPs are made from acrylic acid, which is a versatile monomer that can be used to create a variety of polymers with different properties. The unique ability of SAPs to absorb and retain large amounts of water makes them ideal for use in a variety of applications.The Acrylic Acid Derivatives Market Industry is expected to witness significant growth over the coming years, owing to the increasing demand for superabsorbent polymers. This growth is expected to be driven by the rising population and the increasing disposable income of consumers in developing countries. Additionally, the growing awareness of the benefits of using superabsorbent polymers in various applications is also expected to contribute to the growth of the market.
Increasing Use in Construction and Building Materials
Acrylic acid derivatives are also used in a variety of construction and building materials. These materials include adhesives, sealants, coatings, and paints. The increasing demand for these materials is driving the growth of the acrylic acid derivatives market. Acrylic acid derivatives are used in construction and building materials due to their excellent adhesion, durability, and resistance to weathering. These properties make them ideal for use in a variety of applications, including roofing, flooring, and waterproofing.The Acrylic Acid Derivatives Market Industry is expected to witness significant growth over the coming years, owing to the increasing demand for construction and building materials. This growth is expected to be driven by the rising population and the increasing disposable income of consumers in developing countries. Additionally, the growing awareness of the benefits of using acrylic acid derivatives in construction and building materials is also expected to contribute to the growth of the market.
Growing Demand for Water-Based Coatings
Water-based coatings are becoming increasingly popular due to their environmental benefits. These coatings are made with acrylic acid derivatives, which are water-soluble and do not contain volatile organic compounds (VOCs). The increasing demand for water-based coatings is driving the growth of the acrylic acid derivatives market. Water-based coatings are used in a variety of applications, including automotive, industrial, and architectural coatings.The Acrylic Acid Derivatives Market Industry is expected to witness significant growth over the coming years, owing to the increasing demand for water-based coatings. This growth is expected to be driven by the rising population and the increasing disposable income of consumers in developing countries. Additionally, the growing awareness of the benefits of using water-based coatings is also expected to contribute to the growth of the market.
Acrylic Acid Derivatives Market Segment Insights
Acrylic Acid Derivatives Market Application Insights
The Acrylic Acid Derivatives Market segmentation by Application is brimming with prospects and growth opportunities. In 2023, the Paints and Coatings segment dominated the market with a substantial revenue share of around 38.4%. This segment is anticipated to maintain its dominance throughout the forecast period, owing to the increasing demand for acrylic-based paints and coatings in various industrial and consumer applications. The Adhesives and Sealants segment is projected to exhibit a significant growth rate during the forecast period, driven by the rising utilization of acrylic-based adhesives and sealants in the construction, automotive, and packaging industries.The Paper and Paperboard segment holds a notable market share, primarily due to the extensive usage of acrylic acid derivatives as binders and surface coatings in paper production. The Textiles segment is poised to witness steady growth, fueled by the increasing adoption of acrylic fibers in the manufacturing of clothing, home textiles, and technical fabrics. The Plastics and Polymers segment is expected to contribute significantly to the overall market growth, driven by the growing demand for acrylic-based plastics and polymers in automotive components, electronic devices, and consumer goods.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Acrylic Acid Derivatives Market Product Type Insights
Acrylic acid, a key raw material for superabsorbent polymers, is projected to witness significant demand in the coming years due to the growing hygiene industry. Acrylic esters, commonly used in paints and coatings, are expected to exhibit steady growth driven by increasing construction activities. Acrylic amides, employed in water treatment and oilfield applications, are anticipated to experience moderate growth as industries such as oil and gas recover. Acrylic resins, utilized in adhesives and plastics, are expected to witness stable demand, supported by the automotive and packaging industries.
Acrylic Acid Derivatives Market End-Use Industry Insights
The end-use industry segment of the Acrylic Acid Derivatives Market is anticipated to grow steadily over the forecast period. In 2023, the automotive industry accounted for the largest share of the market revenue, owing to the increasing demand for acrylic acid derivatives in the production of automotive parts such as coatings, adhesives, and sealants. The construction industry is expected to witness significant growth, driven by the rising demand for acrylic acid derivatives in paints, coatings, and adhesives used in building and construction activities.The packaging industry is also projected to contribute to market growth, as acrylic acid derivatives are widely used in the production of packaging materials such as films, sheets, and containers. Furthermore, the electronics industry is anticipated to provide growth opportunities for acrylic acid derivatives, particularly in the manufacturing of printed circuit boards and electronic components. Lastly, the healthcare industry is expected to witness moderate growth as acrylic acid derivatives are used in the production of medical devices, pharmaceuticals, and cosmetics.
Acrylic Acid Derivatives Market Molecular Weight Insights
The acrylic acid derivatives market is segmented based on molecular weight into low molecular weight, medium molecular weight, and high molecular weight. The low molecular weight segment is expected to hold the largest share of the market in 2023, owing to its wide range of applications in various industries, including adhesives, coatings, and textiles. The medium molecular weight segment is projected to witness significant growth over the forecast period, driven by its increasing use in the production of superabsorbent polymers and water-based paints.The high molecular weight segment is expected to gain traction during the forecast period, attributed to its growing demand in the automotive and construction industries.
Acrylic Acid Derivatives Market Regional Insights
The regional segment of the Acrylic Acid Derivatives Market holds significant importance in understanding the geographical distribution of the market. In 2023, North America dominated the market with a revenue share of around 35%, primarily driven by the presence of key manufacturers and high demand from end-use industries. Europe follows closely with a market share of approximately 30%, supported by well-established chemical and manufacturing sectors. APAC region is projected to witness substantial growth in the coming years due to rising demand from emerging economies like China and India.South America and MEA regions are expected to grow steadily, contributing to the overall market expansion.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Acrylic Acid Derivatives Market Key Players And Competitive Insights:
Major players in the Acrylic Acid Derivatives Market industry are constantly striving to gain a competitive edge by investing in research and development, expanding their product portfolios, and forming strategic partnerships. Leading Acrylic Acid Derivatives Market players are focusing on developing innovative products that cater to the evolving needs of end-users while also exploring new markets to expand their footprint. The Acrylic Acid Derivatives Market development is being driven by the growing demand for acrylic acid derivatives in various industries, such as automotive, construction, and paints and coatings. These derivatives are used in a wide range of applications, including adhesives, sealants, plastics, and fibers. The Acrylic Acid Derivatives Market Competitive Landscape is expected to remain highly competitive in the coming years, with major players vying for market share through strategic initiatives and product innovations.A prominent competitor in the Acrylic Acid Derivatives Market is BASF, a leading chemical company that offers a comprehensive range of acrylic acid derivatives. BASF's acrylic acid derivatives are used in a variety of applications, including paints and coatings, adhesives, and plastics. The company has a strong presence and a well-established distribution network, which gives it a competitive advantage in the market. BASF is committed to sustainability and innovation, and it invests heavily in research and development to improve its product offerings and meet the evolving needs of customers.Another key competitor in the Acrylic Acid Derivatives Market is Dow, a leader in the production of chemicals and plastics. Dow offers a diverse portfolio of acrylic acid derivatives, including acrylates, methacrylates, and specialty monomers. The company has a strong focus on innovation and sustainability, and it continuously invests in research and development to create new products and technologies that meet the needs of its customers. Dow has a footprint with manufacturing facilities in multiple regions, which enables it to serve customers around the world efficiently.
Key Companies in the Acrylic Acid Derivatives Market Include:
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Ineos Group
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Tosoh
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Evonik Industries
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Kuraray
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Mitsubishi Chemical
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Sabic
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LyondellBasell
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Covestro
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Formosa Plastics
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Sumitomo
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DuPont
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Dow
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LG Chem
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BASF
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Lucite International
Acrylic Acid Derivatives Market Industry Developments
The Acrylic Acid Derivatives market is expected to reach USD 27.76 billion by 2032, exhibiting a CAGR of 4.33% during the forecast period. The growth of the market is attributed to the increasing demand for acrylic acid derivatives in various end-use industries, such as paints and coatings, adhesives, and plastics.Recent developments in the market include the launch of new products and technologies by key players. For instance, in 2023, BASF introduced a new range of acrylic acid derivatives designed to improve the performance of paints and coatings. The company claims that these new derivatives offer superior adhesion, flexibility, and durability.In terms of current affairs, the market is witnessing a growing focus on sustainability. Consumers are increasingly demanding products that are environmentally friendly and have a low carbon footprint. This trend is expected to drive the demand for bio-based acrylic acid derivatives, which are produced from renewable resources.
Acrylic Acid Derivatives Market Segmentation Insights
Acrylic Acid Derivatives Market Application Outlook
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Paints and Coatings
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Adhesives and Sealants
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Paper and Paperboard
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Textiles
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Plastics and Polymers
Acrylic Acid Derivatives Market Product Type Outlook
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Acrylic Acid
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Acrylic Esters
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Acrylic Amides
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Acrylic Resins
Acrylic Acid Derivatives Market End-Use Industry Outlook
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Automotive
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Construction
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Packaging
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Electronics
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Healthcare
Acrylic Acid Derivatives Market Molecular Weight Outlook
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Low Molecular Weight
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Medium Molecular Weight
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High Molecular Weight
Acrylic Acid Derivatives Market Regional Outlook
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North America
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Europe
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South America
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Asia Pacific
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Middle East and Africa
| Report Attribute/Metric |
Details |
| Market Size 2022 |
18.17 (USD Billion) |
| Market Size 2023 |
18.96 (USD Billion) |
| Market Size 2032 |
27.76 (USD Billion) |
| Compound Annual Growth Rate (CAGR) |
4.33% (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 |
Ineos Group, Tosoh, Evonik Industries, Kuraray, Mitsubishi Chemical, Sabic, LyondellBasell, Covestro, Formosa Plastics, Sumitomo, DuPont, Dow, LG Chem, BASF, Lucite International |
| Segments Covered |
Application, Product Type, End-Use Industry, Molecular Weight, Regional |
| Key Market Opportunities |
1 Growing demand for acrylic acid in paints and coatings2 Increasing use of acrylic acid esters in adhesives and sealants3 Rising adoption of superabsorbent polymers in personal care and hygiene products4 Expanding the application of acrylic acid derivatives in construction materials5 Emerging opportunities in the automotive and aerospace industries |
| Key Market Dynamics |
Rising demand for acrylic acid in paints and coatingsIncreasing use of acrylic resins in automotive and construction industriesGrowth in disposable income and urbanization in emerging economiesStringent environmental regulations driving demand for sustainable acrylic acid derivativesTechnological advancements in production processes |
| Countries Covered |
North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Acrylic Acid Derivatives Market was valued at 20.66 billion U.S. dollars in 2023 and is expected to reach 30.35 billion U.S. dollars by 2032, exhibiting a CAGR of 4.8% during the forecast period (2024-2032).
North America held the largest revenue share in the Acrylic Acid Derivatives Market in 2023, accounting for 45.9%, and is projected to maintain its dominance throughout the forecast period. This growth is primarily attributed to the increasing demand for acrylic acid derivatives in various industries, such as construction, automotive, and packaging, in the region.
Acrylic Acid Derivatives find extensive applications in various industries, including paints and coatings, adhesives, plastics, and textiles. In the paints and coatings industry, acrylic acid derivatives are used as binders and film formers, providing coatings with excellent adhesion, durability, and resistance to weathering. In the adhesives industry, they are employed as crosslinking agents, enhancing the strength and performance of adhesives. Within the plastics industry, acrylic acid derivatives are utilized as monomers for the production of acrylic plastics, which are known for their transparency, lightweight, and impact resistance. Additionally, in the textile industry, they are used as sizing agents, imparting strength and dimensional stability to fabrics.
Major players operating in the Acrylic Acid Derivatives Market include BASF SE, Dow, Evonik Industries, LG Chem, Mitsubishi Chemical Corporation, and Rohm and Haas Company. These companies are involved in the manufacturing and distribution of a wide range of acrylic acid derivatives, catering to diverse industries worldwide.
The growth of the Acrylic Acid Derivatives Market is driven by several factors, including the increasing demand for lightweight and durable materials, the rising adoption of acrylic acid derivatives in various industries, and the growing emphasis on sustainability. Acrylic acid derivatives offer unique properties such as strength, transparency, and resistance to weathering, making them ideal for use in a wide range of applications. The increasing demand for lightweight materials in the automotive and construction industries is further propelling the growth of the market.
The Acrylic Acid Derivatives Market faces certain challenges, including the volatility of raw material prices, the stringent regulatory landscape, and the environmental concerns associated with the production and disposal of acrylic acid derivatives. Fluctuations in the prices of key raw materials, such as propylene and natural gas, can impact the profitability of manufacturers. Moreover, the stringent regulations imposed on the production and use of acrylic acid derivatives, particularly in terms of environmental protection, pose challenges for market participants.
The Acrylic Acid Derivatives Market is witnessing the emergence of several trends, including the development of bio-based acrylic acid derivatives, the growing adoption of renewable feedstocks, and the increasing focus on sustainable production processes. Bio-based acrylic acid derivatives are gaining traction due to their reduced environmental impact and the depletion of fossil fuel resources. Manufacturers are exploring renewable feedstocks, such as biomass and plant-based materials, to produce acrylic acid derivatives in a more sustainable manner.
The Acrylic Acid Derivatives Market is expected to exhibit a steady growth rate during the forecast period, driven by the increasing demand for acrylic acid derivatives in various industries and the development of new applications. The market is projected to grow at a CAGR of 4.8% from 2023 to 2032, reaching a value of 30.35 billion U.S. dollars by 2032.
The pricing of Acrylic Acid Derivatives is influenced by various factors, including the cost of raw materials, manufacturing processes, supply and demand dynamics, and market competition. The volatility of raw material prices, such as propylene and natural gas, can have a significant impact on the overall pricing of acrylic acid derivatives. Additionally, the complexity of manufacturing processes and the scale of production can affect the cost structure and, subsequently, the pricing of these derivatives.
The Acrylic Acid Derivatives Market presents several growth opportunities for market participants. The increasing demand for lightweight and durable materials in industries such as automotive, construction, and electronics is expected to drive growth. Furthermore, the growing adoption of acrylic acid derivatives in emerging applications, such as biomedical devices and energy storage systems, is creating new avenues for market expansion. Additionally, the development of bio-based and sustainable acrylic acid derivatives is expected to open up new opportunities in the market.
