Acrylic Acid Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028, Segmented By Derivative Type (Acrylic Esters, Acrylic Polymers, Ammonium Polyacrylate, Cyanopolyacrylate), By Application (Surface Coatings, Adhesives & Sealants, Diapers, Plastic Additives, Water Treatment, Thickeners, Dispersants, Others) By Region, and Competition

Industry : Chemicals
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Summary

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Report Description

Global Acrylic Acid Market is projected to grow at an impressive rate through 2028 due to the increasing demand from the construction industry. Building an advanced industrial plant in Manchester cost USD 2,250 per square meter. Acrylic acid is a basic component of chemicals and is derived from propylene. Acrylic acid serves as a precursor for various industrial products, including coatings, adhesives, sealants, dispersants, and thickeners that are utilized in various sectors, including construction, automotive, building, telecommunication, and consumer goods. The commercialization of bio-based acrylic acid would boost the acrylic acid business and fend off government concerns about environmental protection.

Derivatives made from basic renewable materials would reduce our reliance on fossil fuels. The cost of manufacturing acrylic acid would experience a price correction because of the proper balancing of supply and demand because renewable raw derivative types are less expensive than resources derived from fossil fuels. Additionally, bio-based acrylic acid reduces the adverse impacts of acrylic acid on the environment, removing the restriction on utilizing acrylic acid concentrations following regulatory organizations' requirements. This element gives businesses the means to utilize acrylic acid as needed. The market for acrylic acid in places like North America and Europe, where government regulations constrain market development, has a significant growth opportunity due to bio-based acrylic acid. In 2022, the birth rate is 17.668 for every 1,000 people worldwide which contribute to a lucrative demand for diaper. The increasing demand for sustainable and eco-friendly products has led to a shift towards bio-based acrylic acid. Several companies are investing in the development of bio-based acrylic acid using renewable raw materials such as sugar or glycerin. This development is expected to reduce the carbon footprint of the acrylic acid industry and provide a sustainable source of raw materials.

Growing Demand for Water Treatment

The demand for water treatment solutions is the result of increasing global population and industrialization, which is putting pressure on the world's water resources. As a result, there is a growing need for technologies and products that can help to treat and purify water, making it safe for human consumption and industrial use. The treatment of wastewater is a significant issue worldwide. Industries expand along with population growth, posing environmental challenges and health risks. Therefore, it is in the best interests of scientists and engineers to create materials and techniques to reduce environmental pollution. The process of flocculation is crucial to wastewater treatment. The level of treated water quality indicators, a measure of wastewater treatment effectiveness, is reflected by the physical and chemical characteristics of flocculants based on poly (acrylamide-co-acrylic acid) produced by electron beam irradiation.

Growing Demand from Construction Industry

Acrylates give polymers various desirable qualities such as clarity, color stability, aging resistance, and heat resistance, in addition to outstanding weather ability, which increases product demand in the paint and adhesives industries. In addition, the glass transition temperature of acrylate ester, which allows the created polymer to be softer and more flexible rather than rigid and brittle, is an important property. Thus, acrylic acid is mostly utilized to create polymers for various plastic goods. Additionally, it can be used to make surfactants, adhesives, and sealants. The acrylic acid market's derivative, application, and geographic segments are separated. Methyl acrylate, butyl acrylate, ethyl acrylate, 2-Ethylhexyl acrylate, glacial acrylic acid, and superabsorbent polymers are the derivatives into which the market is divided.

Growing Demand from Superabsorbent Polymers

Superabsorbent Polymers are a class of polymers that could absorb and retain large amounts of liquid relative to their own weight. They are primarily used in applications where water or other liquids need to be absorbed quickly and efficiently, such as in the production of diapers, feminine hygiene products, and agricultural applications. SAPs are typically made from acrylic acid, which is polymerized to produce a cross-linked structure. The resulting polymer chains have hydrophilic (water-loving) groups that can absorb water molecules and retain them within the polymer matrix. Indian consumer markets are experiencing is the blurring difference between rural and urban consumers. Rural consumers’ basket mirrors that of their urban counterparts, giving a rise to the concept of ‘rurbanisation’. This implies that marketers are making urban-centered products (such as diapers and deodorants) available in rural markets as well. According to various studies, India Diaper market is USD 5.90 Billion in 2022 which reflects the growing demand for superabsorbent polymers. And hence driving the demand for acrylic acid.

Recent Developments

In August 2021, BASF and SINOPEC announced plans to expand their Verbund site, managed by BASF-YPC Co. Ltd., a 50% share-owned joint venture of both BASF and SINOPEC in Nanjing, China. The capacity of several downstream chemical plants is being increased, and a new tert-Butyl acrylate factory is being built to meet the rising Chinese market.
In 2020, BASF acquired the polyamide business of Solvay, which included the production of acrylonitrile, a key raw material for acrylic acid.
In 2021, Mitsui Chemicals launched its new range of acrylic acid polymers called Tafmer BI.
In 2021, Evonik launched its new range of specialty monomers called VISIOMER Terra. These monomers are based on bio-based acrylic acid and are designed for use in the production of high-performance polymers such as PMMA and PEMA.

Capacity Expansions

In 2021, Mitsubishi Chemical announced a plan to expand the production capacity of its acrylic acid plant in Japan by 20%. The expansion is expected to be completed in 2023 and will increase the company's production capacity for acrylic acid and its derivatives.
In 2020, Dow announced a plan to expand the production capacity of its acrylic acid plant in Texas, USA, by 15%.

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Market Segmentation

Global Acrylic Acid market is segmented by derivative type, and application. Based on derivative type, the market is divided into Acrylic Esters (Ethyl Acrylate, Methyl Acrylate, Butyl Acrylate, 2-Ethyhexyl Acrylate), Acrylic Polymers (Super Absorbent Polymers, Acrylic Elastomers, Water Treatment Polymers), Ammonium Polyacrylate, Cyanopolyacrylate. Based on application, the market is segmented into surface coatings, adhesives & sealants, diapers, plastic additives, water treatment, thickeners, dispersants, others.

Market players

BASF SE, Arkema SA, The Lubrizol Corporation, LG Chem Ltd., NIPPON SHOKUBAI CO., LTD, Evonik Industries AG, Dow Chemical Company, SunVic Chemical Holdings Limited, Hexion Inc., and Shanghai Huayi Acrylic Acid Co. Ltd are some of the key market players.

Attribute	Details
Base Year	2022
Historic Data	2018 – 2021
Estimated Year	2023
Forecast Period	2024 – 2028
Quantitative Units	Revenue in USD Million, Volume in metric tons, and CAGR for 2018-2022 and 2023-2028
Report Coverage	Revenue forecast, Volume Forecast, company share, competitive landscape, growth factors, and trends
Segments Covered	· Composite Type · Graphene Type · Application
Regional scope	North America; Europe; Asia Pacific; South America; Middle East & Africa
Country scope	United States, Canada, Mexico; China, India, Japan, South Korea, Australia; Germany, France, United Kingdom, Italy, Spain; Brazil, Argentina, Colombia; South Africa, UAE, Saudi Arabia, Turkey, and Egypt.
Key companies profiled	BASF SE, Arkema SA, The Lubrizol Corporation, LG Chem Ltd., NIPPON SHOKUBAI CO., LTD, Evonik Industries AG, Dow Chemical Company, SunVic Chemical Holdings Limited, Hexion Inc., and Shanghai Huayi Acrylic Acid Co.
Customization scope	10% free report customization with purchase. Addition or alteration to country, regional & segment scope.
Pricing and purchase options	Avail customized purchase options to meet your exact research needs. Explore purchase options
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

Report Scope:

In this report, Global Acrylic Acid Market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

Acrylic Acid Market, By Derivative Type:

Acrylic Esters (Ethyl Acrylate, Methyl Acrylate, Butyl Acrylate, 2-Ethyhexyl Acrylate)
Acrylic Polymers (Super Absorbent Polymers, Acrylic Elastomers, Water Treatment Polymers)
Ammonium Polyacrylate
Cyanopolyacrylate

Acrylic Acid Market, By Application Type:

Surface Coatings
Adhesives & Sealants
Diapers
Plastic Additives
Water Treatment
Thickeners
Dispersants
Others

Acrylic Acid Market, By Region:

North America

United States
Canada
Mexico

Europe

France
Germany
United Kingdom
Italy
Spain

Asia-Pacific

China
India
Japan
South Korea
Australia

South America

Brazil
Argentina
Colombia

Middle East & Africa

§ South Africa

§ Saudi Arabia

§ UAE

§ Turkey

§ Egypt

Competitive Landscape

Company Profiles: Detailed analysis of the major companies in Global Acrylic Acid Market.

Available Customizations:

With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information

Detailed analysis and profiling of additional market players (up to five).

Global Acrylic Acid Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

1. Product Overview

1.1. Market Definition

1.2. Scope of the Market

1.2.1. Markets Covered

1.2.2. Years Considered for Study

1.2.3. Key Market Segmentations

2. Research Methodology

2.1. Objective of the Study

2.2. Baseline Methodology

2.3. Key Industry Partners

2.4. Major Association and Secondary Sources

2.5. Forecasting Methodology

2.6. Data Triangulation & Validation

2.7. Assumptions and Limitations

3. Executive Summary

3.1. Overview of the Market

3.2. Overview of Key Market Segmentations

3.3. Overview of Key Market Players

3.4. Overview of Key Regions/Countries

3.5. Overview of Market Drivers, Challenges, and Trends

4. Voice of Customer

5. Global Acrylic Acid Market Outlook

5.1. Market Size & Forecast

5.1.1. By Value & Volume

5.2. Market Share & Forecast

5.2.1. By Derivative Type (Acrylic Esters (Ethyl Acrylate, Methyl Acrylate, Butyl Acrylate, 2-Ethyhexyl Acrylate), Acrylic Polymers (Super Absorbent Polymers, Acrylic Elastomers, Water Treatment Polymers), Ammonium Polyacrylate, Cyanopolyacrylate)

5.2.2. By Application (Surface Coatings, Adhesives & Sealants, Diapers, Plastic Additives, Water Treatment, Thickeners, Dispersants, Others)

5.2.3. By Region (North America, Europe, Asia Pacific, South America, Middle East & Africa)

5.2.4. By Company (2022)

5.3. Market Map

5.3.1. By Derivative Type

5.3.2. By Application

5.3.3. By Region

5.4. Pricing Analysis

6. North America Acrylic Acid Market Outlook

6.1. Market Size & Forecast

6.1.1. By Value & Volume

6.2. Market Share & Forecast

6.2.1. By Derivative Type

6.2.2. By Application

6.2.3. By Country

6.3. Pricing Analysis

6.4. North America: Country Analysis

6.4.1. United States Acrylic Acid Market Outlook

6.4.1.1. Market Size & Forecast

6.4.1.1.1. By Value & Volume

6.4.1.2. Market Share & Forecast

6.4.1.2.1. By Derivative Type

6.4.1.2.2. By Application

6.4.2. Mexico Acrylic Acid Market Outlook

6.4.2.1. Market Size & Forecast

6.4.2.1.1. By Value & Volume

6.4.2.2. Market Share & Forecast

6.4.2.2.1. By Derivative Type

6.4.2.2.2. By Application

6.4.3. Canada Acrylic Acid Market Outlook

6.4.3.1. Market Size & Forecast

6.4.3.1.1. By Value & Volume

6.4.3.2. Market Share & Forecast

6.4.3.2.1. By Derivative Type

6.4.3.2.2. By Application

7. Europe Acrylic Acid Market Outlook

7.1. Market Size & Forecast

7.1.1. By Value & Volume

7.2. Market Share & Forecast

7.2.1. By Derivative Type

7.2.2. By Application

7.2.3. By Country

7.3. Pricing Analysis

7.4. Europe: Country Analysis

7.4.1. France Acrylic Acid Market Outlook

7.4.1.1. Market Size & Forecast

7.4.1.1.1. By Value & Volume

7.4.1.2. Market Share & Forecast

7.4.1.2.1. By Derivative Type

7.4.1.2.2. By Application

7.4.2. Germany Acrylic Acid Market Outlook

7.4.2.1. Market Size & Forecast

7.4.2.1.1. By Value & Volume

7.4.2.2. Market Share & Forecast

7.4.2.2.1. By Derivative Type

7.4.2.2.2. By Application

7.4.3. United Kingdom Acrylic Acid Market Outlook

7.4.3.1. Market Size & Forecast

7.4.3.1.1. By Value & Volume

7.4.3.2. Market Share & Forecast

7.4.3.2.1. By Derivative Type

7.4.3.2.2. By Application

7.4.4. Italy Acrylic Acid Market Outlook

7.4.4.1. Market Size & Forecast

7.4.4.1.1. By Value & Volume

7.4.4.2. Market Share & Forecast

7.4.4.2.1. By Derivative Type

7.4.4.2.2. By Application

7.4.5. Spain Acrylic Acid Market Outlook

7.4.5.1. Market Size & Forecast

7.4.5.1.1. By Value & Volume

7.4.5.2. Market Share & Forecast

7.4.5.2.1. By Derivative Type

7.4.5.2.2. By Application

8. Asia-Pacific Acrylic Acid Market Outlook

8.1. Market Size & Forecast

8.1.1. By Value & Volume

8.2. Market Share & Forecast

8.2.1. By Derivative Type

8.2.2. By Application

8.2.3. By Country

8.3. Pricing Analysis

8.4. Asia-Pacific: Country Analysis

8.4.1. China Acrylic Acid Market Outlook

8.4.1.1. Market Size & Forecast

8.4.1.1.1. By Value & Volume

8.4.1.2. Market Share & Forecast

8.4.1.2.1. By Derivative Type

8.4.1.2.2. By Application

8.4.2. India Acrylic Acid Market Outlook

8.4.2.1. Market Size & Forecast

8.4.2.1.1. By Value & Volume

8.4.2.2. Market Share & Forecast

8.4.2.2.1. By Derivative Type

8.4.2.2.2. By Application

8.4.3. Japan Acrylic Acid Market Outlook

8.4.3.1. Market Size & Forecast

8.4.3.1.1. By Value & Volume

8.4.3.2. Market Share & Forecast

8.4.3.2.1. By Derivative Type

8.4.3.2.2. By Application

8.4.4. South Korea Acrylic Acid Market Outlook

8.4.4.1. Market Size & Forecast

8.4.4.1.1. By Value & Volume

8.4.4.2. Market Share & Forecast

8.4.4.2.1. By Derivative Type

8.4.4.2.2. By Application

8.4.5. Australia Acrylic Acid Market Outlook

8.4.5.1. Market Size & Forecast

8.4.5.1.1. By Value & Volume

8.4.5.2. Market Share & Forecast

8.4.5.2.1. By Derivative Type

8.4.5.2.2. By Application

9. South America Acrylic Acid Market Outlook

9.1. Market Size & Forecast

9.1.1. By Value & Volume

9.2. Market Share & Forecast

9.2.1. By Derivative Type

9.2.2. By Application

9.2.3. By Country

9.3. Pricing Analysis

9.4. South America: Country Analysis

9.4.1. Brazil Acrylic Acid Market Outlook

9.4.1.1. Market Size & Forecast

9.4.1.1.1. By Value & Volume

9.4.1.2. Market Share & Forecast

9.4.1.2.1. By Derivative Type

9.4.1.2.2. By Application

9.4.2. Argentina Acrylic Acid Market Outlook

9.4.2.1. Market Size & Forecast

9.4.2.1.1. By Value & Volume

9.4.2.2. Market Share & Forecast

9.4.2.2.1. By Derivative Type

9.4.2.2.2. By Application

9.4.3. Colombia Acrylic Acid Market Outlook

9.4.3.1. Market Size & Forecast

9.4.3.1.1. By Value & Volume

9.4.3.2. Market Share & Forecast

9.4.3.2.1. By Derivative Type

9.4.3.2.2. By Application

10. Middle East and Africa Acrylic Acid Market Outlook

10.1. Market Size & Forecast

10.1.1. By Value & Volume

10.2. Market Share & Forecast

10.2.1. By Derivative Type

10.2.2. By Application

10.2.3. By Country

10.3. Pricing Analysis

10.4. MEA: Country Analysis

10.4.1. South Africa Acrylic Acid Market Outlook

10.4.1.1. Market Size & Forecast

10.4.1.1.1. By Value & Volume

10.4.1.2. Market Share & Forecast

10.4.1.2.1. By Derivative Type

10.4.1.2.2. By Application

10.4.2. Saudi Arabia Acrylic Acid Market Outlook

10.4.2.1. Market Size & Forecast

10.4.2.1.1. By Value & Volume

10.4.2.2. Market Share & Forecast

10.4.2.2.1. By Derivative Type

10.4.2.2.2. By Application

10.4.3. UAE Acrylic Acid Market Outlook

10.4.3.1. Market Size & Forecast

10.4.3.1.1. By Value & Volume

10.4.3.2. Market Share & Forecast

10.4.3.2.1. By Derivative Type

10.4.3.2.2. By Application

10.4.4. Turkey Acrylic Acid Market Outlook

10.4.4.1. Market Size & Forecast

10.4.4.1.1. By Value & Volume

10.4.4.2. Market Share & Forecast

10.4.4.2.1. By Derivative Type

10.4.4.2.2. By Application

10.4.5. Egypt Acrylic Acid Market Outlook

10.4.5.1. Market Size & Forecast

10.4.5.1.1. By Value & Volume

10.4.5.2. Market Share & Forecast

10.4.5.2.1. By Derivative Type

10.4.5.2.2. By Application

11. Market Dynamics

11.1. Drivers

11.1.1. Growing Demand for Water Treatment

11.1.2. Growing Demand from Construction Industry

11.2. Challenges

11.2.1. Contamination during production

11.2.2. Strict regulation and monitoring

12. Market Trends & Developments

12.1. Merger & Acquisition

12.2. Product Development

13. Porters Five Forces Analysis

13.1. Competition in the Industry

13.2. Potential of New Entrants

13.3. Power of Suppliers

13.4. Power of Customers

13.5. Threat of Substitute Products

14. Competitive Landscape

14.1. Business Overview

14.2. Company Snapshot

14.3. Products & Services

14.4. Financials (As Reported)

14.5. Recent Developments

14.6. SWOT Analysis

14.6.1. BASF SE

14.6.2. Arkema SA

14.6.3. The Lubrizol Corporation

14.6.4. LG Chem Ltd

14.6.5. NIPPON SHOKUBAI CO., LTD

14.6.6. Evonik Industries AG

14.6.7. Dow Chemical Company

14.6.8. SunVic Chemical Holdings Limited

14.6.9. Hexion Inc

14.6.10. Shanghai Huayi Acrylic Acid Co. Ltd

15. Strategic Recommendations

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