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2022

Acrylic Acid Market

Acrylic Acid Market Size, Share, Competitive Landscape and Trend Analysis Report by Derivative Type (Acrylic Esters, Acrylic Polymer, and Others), and End-User (Diapers, Surface Coatings Industry, Adhesives and Sealants Industry, Plastic Additives Industry, Water Treatment Industry, Textiles Industry, Surfactants Industry, and Others): Global Opportunity Analysis and Industry Forecast, 2021-2030: Global Opportunity Analysis and Industry Forecast, 2021-2030

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Author's: Bhagyashri Patil| Pratik Mandon | Eswara Prasad
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Acrylic Acid Market Outlook - 2021–2030

The global acrylic acid market size was valued at $12.0 billion in 2020, and is projected to reach $19.2 billion by 2030, growing at a CAGR of 4.8% from 2021 to 2030.

Acrylic acid is an organic compound with a tart or acrid odor. Acrylic acid is used as a feedstock for the production of acrylate esters. Acrylate ester has various applications including Paper treatment, plastic additives, textiles, sealants, adhesives, and surface coatings. In addition, acrylic acid is also utilized in the production of sanitary medical devices, detergents, and wastewater treatment chemicals. Industries are developing and commercializing processes for producing acrylic acid from petrochemicals. Due to stringent regulations on commercial usage of acrylic acid, producers are turning to bio-based techniques to produce acrylic acid and acrylates from renewable resources such as glycerol and sugar. When compared to petrochemical techniques, renewable feedstock produces cost-competitive results.

Acrylic-Acid-Market,-2021-2030

The acrylic acid market is driven by rising demand for superabsorbent polymers and widespread acceptance of acrylic-based products in emerging economies such as Asia-Pacific. Stringent government regulations are implemented on the use of acrylic acid because of environmental concerns in regions such as North America and Europe, which acts as a major restraining factor for the growth of the acrylic acid market. The commercialization of bio-based acrylic acid, as well as the increased demand for poly (methyl methacrylate) or PMMA resins in various industries are expected to get a number of growth opportunities for this market.  Hence, the producers of acrylic acid focus on R&D to find bio-based sources for the production of acrylic acid. 

The global acrylic acid market is segmented on the basis of derivative type, end-user, and region. By derivative type, the market is fragmented into acrylic esters, acrylic polymer, and others. Acrylic esters segment further segmented into methyl acrylate, ethyl acrylate, butyl acrylate, and ethylhexyl acrylate. Acrylic polymer segment is further segmented into acrylic elastomers, super absorbent polymers, and water treatment polymers. Others segment is further segmented into ammonium polyacrylate and cyanopolyacrylate. By end-user, the market is divided into diapers, surface coatings industry, adhesives and sealants industry, plastic additives industry, water treatment industry, textiles industry, surfactants industry, and others. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Comprehensive competitive analysis and profiles of major market players, such as 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, and SIBUR, are considered in the report. 

Acrylic acid market, by derivative type

The acrylic polymer segment dominated the global acrylic acid market in 2020, and is expected to maintain its dominance during the forecast period, owing to increasing adoption of superabsorbent polymers by the manufacturers of disposable diapers.

Acrylic Acid Market
By Derivative Type
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Acrylic Polymer is projected as the most lucrative segment.

Acrylic acid Market, by End-user

The diapers segment dominated the global acrylic acid market in terms of revenue, in 2020, owing to Rapid rise in consumers’ disposable income and growth in urbanization are driving the adoption of acrylic based diapers in emerging and developed economies.

Acrylic Acid Market
By End-user
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Diapers is projected as the most lucrative market.

Acrylic acid Market, by Region

The Asia-Pacific region accounted for the largest share of the acrylic acid market in 2020. The Asia-Pacific market for acrylic acid is expected to grow at the highest CAGR, in terms of both volume and value, emerging economies such as China, India, and others, generate a very high demand for acrylic acid owing to a relatively large adult population.

Acrylic Acid Market
By Region
2030
Asia-pacific 
North America
Europe
LAMEA

Asia-Pacific is projected as the most lucrative segment.

Key Benefits For Stakeholders

  • The report provides in-depth analysis of the global acrylic acid market along with the current trends and future estimations. 
  • This report highlights the key drivers, opportunities, and restraints of the market along with the impact analysis during the forecast period.
  • Porter’s five forces analysis helps to analyze the potential of the buyers & suppliers and the competitive scenario of the global acrylic acid market for strategy building.
  • A comprehensive market analysis covers the factors that drive and restrain the global Acrylic acid market growth.
  • The qualitative data about market dynamics, trends, and developments is provided in the report.

Impact Of Covid-19 On The Global Acrylic Acid Market

Superabsorbent polymers (SAP) manufacturers benefitted from a short-term hike in sales as consumers sought to stock up on nappies and other hygiene products owing to national lockdowns implemented due to the COVID-19 pandemic. This was particularly noticeable in the European and American markets, where there was a surge in demand that resulted in a temporary tightening of the system and empty grocery shelves. However, as the supply chain was normalized and buying habits restored to a more typical pattern, the situation was relieved.

The construction industry has faced difficulties as a result of the COVID-19 epidemic, including logistics and shortage of raw derivative type. Attributed to the massive drop in financial markets around the world, it is projected that construction investments have been withdrawn globally. As a result, the demand for acrylic acid has decreased. The restrictions imposed by governments to combat the virus's impacts may result in lack of raw derivative type and people as well as disrupted supply chains, making it more difficult to meet contractual responsibilities. Furthermore, COVID-19 pandemic has forced builders to postpone the projects. These factors will hinder the acrylic acid market growth.

According to the International Finance Corporation, due to the COVID-19 crisis, it is expected to slow down global investments in the water sector. According to a survey conducted by Global Water Leaders Group, the outbreak will reduce industrial water demand by about 27%. As a result, demand for water treatment chemicals is expected to fall in the water sector, which will negatively impact the acrylic acid market.

Acrylic Acid Market Report Highlights

Aspects Details
Acrylic Acid Market By Derivative type
By Derivative type
  • Acrylic Esters
  • Acrylic polymer
  • Others
Acrylic Acid Market By Formulation
By Formulation
  • Water-borne Coating
  • Solvent-borne Coating
  • Solventless Coating
  • Powder Coating
  • Radiation Curable Coating
Acrylic Acid Market By End-user
By End-user
  • Diapers
  • Surface Coatings Industry
  • Adhesives And Sealants Industry
  • Plastic Additives Industry
  • Water Treatment Industry
  • Textiles Industry
  • Surfactants Industry
  • Others
Acrylic Acid Market By Region
By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (France, Germany, Italy, Spain, U.K., Rest Of Europe)
  • Asia-Pacific  (China, Japan, India, South Korea, Australia, Rest of Asia Pacific)
  • LAMEA  (Brazil, South Africa, Saudi Arabia, UAE, Rest of LAMEA)
Acrylic Acid Market By Key Market Players
By Key Market Players
  • 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

Analyst Review

The global acrylic acid market is being driven by rising demand for superabsorbent polymers, rising use of acrylic-based products in emerging economies, and ongoing development in industries such as adhesives and sealants. Stringent government regulations and volatile raw derivative prices are two factors that are limiting the market's expansion. Furthermore, the growing use of PMMA (Poly-methyl-methacryatel) resins and the commercialization of bio-acrylic acid are offering numerous opportunities for the market.

The growth drivers, restraints, and opportunities are explained in the report to better understand the market dynamics. This report further highlights the key areas of investment. In addition, it includes Porter’s five forces analysis to understand the competitive scenario of the industry and role of each stakeholder. The report features the strategies adopted by key market players to maintain their foothold in the market. Furthermore, it highlights the competitive landscape of the key players to increase their market share and sustain intense competition in the industry.

Author Name(s) : Bhagyashri Patil| Pratik Mandon | Eswara Prasad
Frequently Asked Questions?

Rapid increase in adhesives and sealants industries is expected to boost the acrylic acid market growth.

The market value of global acrylic acid market in 2021 is expected to be $12.0 billion and projected to rise to $19.2 billion in 2030.

The leading players in the market 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, and SIBUR

The diapers industry is projected to increase the demand for acrylic acid market

The global acrylic acid market is segmented on the basis of derivative type, end-user and region.

Increased demand for superabsorbent polymers

Due to COVID-19 pandemic, transport limitations were implemented, resulting in reduced industrial production and disrupted supply chains, which affected global economic growth by a substantial proportion, severely impacting market growth.

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Acrylic Acid Market

Global Opportunity Analysis and Industry Forecast, 2021-2030: Global Opportunity Analysis and Industry Forecast, 2021-2030