The ‘Global Acrylic Acid Market Report and Forecast 2022-2027’ by Expert Market Research gives an extensive outlook of the global acrylic acid market, assessing the market on the basis of its segments like application and major regions.
Acrylic Acid Market Size, Trends, Industry Report, Key Player, Major Segments, and Forecast
The key highlights of the report include:
Market Overview (2017-2027)
• Forecast CAGR (2022-2027): 4.7%
• Forecast Market Size (2027): 8.3 million metric tons
|Revenue Forecast in 2027||8.3 million metric tons|
|Growth Rate CAGR||4.7%|
|Major Players||BASF SE, Nippon Shokubai Co. Ltd., The Dow Chemical Company, Arkema Group, LG Chem. Ltd., and Shanghai Huayi Acrylic Acid Co., Ltd, among others.|
The global acrylic acid market is expected to register growth during the forecast period on account of the surging demand for superabsorbent polymers in the personal care industry. The rising usage of acrylic acid in surface coatings, adhesives and sealants, and surfactant production is also expected to boost the market.
Acrylic acid applications are expanding owing to its transparent and discoloration-resistant properties. Engineering plastics as well as copolymer industries are increasingly adopting acrylic acid as a significant input material to create new products. Increasing investments in research and development by prominent chemical companies like BASF SE, among others, to find new industrial uses of acrylic acid is likely to propel the acrylic acid market across the globe over the coming years.
Consumer goods industries are generating large demands for acrylic acid for the manufacture of dishwashing liquids, detergents, and surface cleaning liquids, among other products. The continuous emphasis on product diversification to attain higher profitability, market share, and revenue in the plastic and paints industries is likely to enhance the market growth for acrylic acid.
Acrylic Acid Industry Definition and Major Segments
Acrylic acid is a natural molecule as well as the simplest of unsaturated acids. It is highly reactive and commonly used in the form of an absorbent. When coming into contact with alcohol, it reacts to form acrylates that are used in numerous polymers. The polymers formed with acrylic acid have wide applications in hygiene products.
Based on application, the market is segmented into:
• Acrylate Esters
• Super Absorbent Polymer (SAP)
On the basis of region, the market is divided into:
• North America
• Latin America
• Asia Pacific
• Middle East and Africa
Acrylic Acid Market Trends
With the growing plastic industry, the market demand for acrylic acid is likely to increase over the coming years as it is used in the production of plastic components such as plastic extruded tubes and moulded products. The increasing emphasis on innovative plastic products is further expected to increase the market growth of acrylic acid across the globe.
The Asia Pacific region is anticipated to drive the acrylic acid market growth on account of the increasing investments in chemical technology and oil refining capacity. The growing local demand for products like engineering plastics, paints, and polymers, among others, is producing a substantial demand for acrylic acid across the Asia Pacific region. Numerous prominent acrylic acid manufacturers are escalating their reach in the Asia Pacific to expand their share in the market.
Meanwhile, the North America region is anticipated to gain momentum over the coming years in the acrylic acid market growth on account of the growing advancements in chemical processing technology. The increase in advanced research and development in the chemical and engineering industry in the United States is further expected to escalate the market growth in the region.
Key Market Players
The major players in the global acrylic acid market report are:
- BASF SE
- Nippon Shokubai Co. Ltd
- The Dow Chemical Company
- Arkema Group
- LG Chem. Ltd
- Shanghai Huayi Acrylic Acid Co., Ltd
The report covers the market shares, capacities, plant turnarounds, expansions, investments, and mergers and acquisitions, among other latest developments of these market players. The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.