Global Acrylic Acid Market is Likely to Grow at a CAGR Value of 4.50% By 2028

The global acrylic acid market size was worth USD 12.40 billion in 2021 and is estimated to grow to USD 16.148 billion by 2028, with a compound annual growth rate (CAGR) of approximately 4.50 % over the forecast period. The report analyzes the acrylic acid market's drivers, restraints/challenges, and their effect on the demands during the projection period. In addition, the report explores emerging opportunities in the acrylic acid market.

Acrylic acid is a flexible monomer that may be polymerized to form intricate molecular structures. Acrylic acid is created by the oxidation of propane and a bio-based method based on lactic acid. On the other hand, acrylic polymers are made from acrylic and methacrylic acid. These are polyacrylates, which are made up of several monomer chains. To attain the necessary characteristics, polyacrylates are frequently copolymerized. Acrylic esters, on the other hand, are acrylic acid derivatives employed in various applications such as coatings, adhesives & sealants, textiles, plastic additives, and diapers, among others. Acrylic acid is a colorless chemical liquid with a strong odor. It is a monomer that is extensively utilized in the production of a wide variety of polymer compounds. This liquid is highly reactive, explosive, and volatile. Acrylic esters are one of the most significant derivatives of acrylic acids. Food processing, medicines, cosmetics, paints, coatings, adhesives, papermaking, textiles, rubber, plastics, cement, detergents, and water treatment are just a few sectors that employ it.

Rising demand for polymers, paints & coatings, and personal care items is propelling the global acrylic acid market. Some primary reasons driving growth in this market include expanding demand for superabsorbent polymers in the personal care sector, expanding construction industry, and rising demand for water-based adhesives. Rising demand for acrylic acid from emerging markets such as India and China propel the global market forward.

The global acrylic acid market is segregated based on derivative type, formulation, end-user, and region. Based on derivative type, the market is segmented into acrylic ester, acrylic polymer, and others. The acrylic polymer segment dominated the market in 2021. Based on formulation, the market is classified into water-borne coating, solvent-borne coating, solventless coating, powder coating, and radiation curable coating. Solvent-borne coating dominated the market in 2021. Based on end-user, the market is segmented into diapers, surface coatings industry, adhesives & sealants industry, plastic additives industry, water treatment industry, textiles industry, surfactants industry, and others. The plastic industries segment dominated the market in 2021.

The global acrylic acid market has been divided into five regions: North America, South America, Europe, Asia-Pacific, Middle East, and Africa. In 2021, Asia Pacific had the most revenue share in the acrylic acid market. The region's principal drivers include rapid investment in chemical technologies, increased oil refining capacity, and severe rivalry. Domestic demand for engineering plastics, polymers, paints, and other items is driving up demand for acrylic acid in the region. Because of significant chemical firms such as Mitsubishi Chemical Corporation, Sumitomo Chemical, and others, Asia Pacific has become the largest exporter of acrylic acid. Several major acrylic acid producers are expanding their regional operations to increase their market share. Furthermore, governments in many nations such as China, Japan, and India are encouraging the establishment of export-oriented manufacturing businesses to drive economic growth.

Key players in the global acrylic acid market include Mitsubishi Chemical Holdings Corporation, Arkema S.A., BASF SE, The Dow Chemical Co., The Lubrizol Corporation, Evonik, Industries Ag, LG Chem Ltd., Myriant Corporation, Formosa Plastic Group, Sibur.

Recent Development:

• BASF and SINOPEC recently broke ground in Nanjing to develop their Verbund facility, which is run by BASF-YPC Co., a 50/50 joint venture between the two firms. To fulfill the increased demand from diverse businesses in the Chinese market, the expansion comprises expanded capacity for multiple downstream chemical facilities and a new tert-butyl acrylate factory. The partners want to expand the capacity for pure ethylene oxide, ethanolamines, propionic acid, and propionic aldehyde and build the most modern tert-butyl acrylate factory.

Browse the full “Acrylic Acid Market By Derivative Type (Acrylic Esters, Acrylic polymer, Others), By Formulation (Water-borne Coating, Solvent-borne Coating, Solventless Coating, Powder Coating, Radiation Curable Coating), By End-user (Diapers, Surface Coatings Industry, Adhesives And Sealants Industry, Plastic Additives Industry, Water Treatment Industry, Textiles Industry, Surfactants Industry, and Others), and By Region - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2022 – 2028.” Report at https://www.zionmarketresearch.com/report/acrylic-acid-market

Global Acrylic acid Market is segmented as follows:

By Derivative Type

• Acrylic Esters
• Acrylic polymer
• Others

By Formulation

• Water-borne Coating
• Solvent-borne Coating
• Solventless Coating
• Powder Coating
• Radiation Curable Coating

By End-user

• Diapers
• Surface Coatings Industry
• Adhesives And Sealants Industry
• Plastic Additives Industry
• Water Treatment Industry
• Textiles Industry
• Surfactants Industry
• Others

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

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