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, 2020 | Chemical & Materials | PPT format

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

This study provides a particularized anatomy according to the L.E.A.P mechanism

  • Latest trends and cardinal growth prospects
  • Existing and future insights in growth
  • Ascensions in technology
  • Pain points

The regional analysis offers market assays across:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.

Latest Trends and Cardinal Growth Prospects

The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.

Existing and Future Insights in Growth

The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.

Ascensions in Technology

Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.

Pain Points

The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.

The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.

An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.

The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!

This report is the key to questions such as:

What are the prominent factors that will help in reshaping the market growth?

Which trends have the potential to bring expansive growth for the market?

What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?

Which regions will emerge as champion growth contributors for the market?

Which aspects will serve as game-changers for the market?

What are the latest innovations in the market?

Which factors will hinder the growth of the market?