Acrylic Acid Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2028

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Acrylic Acid Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2028

Status : November, 2021 | Chemical & Materials

Report Digest


Global Acrylic Acid Market: Overview

Acrylic acid refers to a polymer of immense significance that has gained popularity as a raw material for several consumer and industrial products. The global acrylic acid market is anticipated to make substantial gains owing to its extensive use in the making of acrylic resins and esters. These are mainly utilized in adhesives and coatings. Increased demand for coatings and adhesives are likely to boost expansion of the global acrylic acid market in the years to come.

This product finds increased application in textile, baby diapers, super absorbent polymers, detergents, paper treatment, and feminine hygiene products. Such wide array of applications is likely to offer copious opportunity for growth of the global acrylic acid market during the period of review. 

The global acrylic acid market has been split on the basis of application and region. The sole purpose of this study is to provide a deep insight into the market.

Global Acrylic Acid Market: Notable Developments

The global acrylic acid market has experienced developments in the last few years. These market developments give an idea about the growth factors of the global acrylic acid market. One of many such developments is mentioned below:

  • In October 2018, Germany-based BASF SE has inked a Memorandum of Understanding (MoU) with China-based Sinopec Yangzi Petrochemical Company Limited in Beijing. It is expected that following this deal, the partnership between them for both downstream and upstream chemical production in China will be strengthened. Following this deal it is expected that the reach of the products of BASF SE will expand.

Some of the key market players of the global acrylic acid market are

  • The Dow Chemical Company
  • Mitsubishi Chemical Corporation
  • Nippon Shokubai Co. Ltd.
  • China Petroleum and Chemical Corporation
  • BASF SE
  • LG Chem Ltd

Global Acrylic Acid Market: Growth Drivers

Increased Demand for Personal Hygiene Products to Spell Growth for the Market

The global acrylic acid market is expected to gather momentum from the augmented demand of the product across various end use segments. Acrylic acid is utilized in the making of superabsorbent polymers, which finds primary use in the production of female sanitary napkins and diaper for babies. Superabsorbent polymers come with the ability of water absorption and can retain the same. This property is expected to bolster demand for superabsorbent polymers, which, in turn, is expected propel growth of the global acrylic acid market in years to come.

Superabsorbent polymers are estimated to account for large part of the demand arising out of global acrylic acid market. These polymers are produced by making use of acrylic acid as one of its raw material. As such, increased demand for superabsorbent polymers is expected to trigger growth of the market in years to come.

The global acrylic acid market is likely to rise high on the augmented awareness about hygiene across all age groups across the globe. Escalated demand for use of products such as sanitary napkins, diapers for both adults and babies are forecasted to lead to the growth of the global acrylic acid market in years to come.

Global Acrylic Acid Market: Regional Outlook

Asia Pacific is estimated to exert dominance on the global acrylic acid market over the forecast tenure. Driven by the massive consumption of the product in the form of personal care products, surfactants, adhesives, and coatings in China and India, the regional market is likely to prosper in the years to come.

Furthermore, North America is also expected to play dominating role in the market. The region is estimated to be driven by the increased demand for adult incontinence.

The global acrylic acid market is segmented as:

Application

  • Paints and Coatings
  • Adhesives and Sealants
  • Surfactants
  • Sanitary Products
  • Textiles

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  • How has COVID-19 affected the market?
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  • What are the major threats that will dent the growth prospects of the market?