Acrylic Acid Market, Business Trends, Demand, Global Segments, Business Opportunities, Growth and Forecast to 2030
Research Reports
Mar 28, 2022
Acrylic Acid Market Overview
The role of the construction and polymer sector is estimated to play a pivotal role in the acrylic acid market in 2020. The chemicals and materials reports are made by Market Research Future, which includes market options for development. The market is foreseen to earn income valued at USD 18,300 Mn by 2022.
The lack of environmental viability of acrylic acid is estimated to create significant roadblocks to the development of the market in the forecast period. However, the versatility of acrylic acid is predicted to lead to its use in several key sectors, thus buoying its chances for development in the upcoming period.
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Key Players
The major market players in the market are
- BASF SE
- The Dow Chemical Company
- Arkema SA
- Evonik Industries
- Nippon Shokubai Co. Ltd
- Taixing Jurong Chemical Co Ltd
- PJSC Sibur Holding, LG Chemicals
- Shenyang Chemical Co Ltd
- Mitsubishi Chemical, and Hexion Inc
Acrylic Acid Market Segmentation
The segmental study of the acrylic acid market is carried out on the basis of type, application, and regions. Based on the application, the acrylic acid market is segmented into adhesives & sealants, anti-scalant, surface coating, diapers, cement modifiers, paper industry, textile, adult incontinence products, and others. Based on the type, the acrylic acid market is segmented into superabsorbent polymers, 2-ethylhexyl acrylate, elastomers, methyl acrylate, ethyl acrylate, butyl acrylate, water treatment polymers, and others. Based on the regions, the acrylic acid market is segmented into Asia Pacific, Africa, Europe, North America, and the Middle East.
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Regional Classification
The regional review of the acrylic acid market is segmented into Asia Pacific, Africa, Europe, North America, and the Middle East. The global market of acrylic acid has a client base spanning trade experts & investors, industrial organizations, traders & distributors, chemical consulting, and governmental associations. The acrylic acid market is projected to attain an earning level of over USD 18, 314 million by 2022. The North American region is the chief acrylic acid market and will be responsible for about USD 4 950 million by the conclusion of the same year. The national market in China employed the principal shares in the year 2014. Also, the market in India followed conformed to a similar pace of development in that year. The robust guidelines on organic compounds exist in the regional markets of Europe and North America due to their eco concerns are estimated to transform the acrylic acid market. As there are possible drawbacks, the growth of these regions in the acrylic acid market is limited. The manufacturers in the market are expected to enhance research & developments to trace eco-based roots for nurturing the acrylic acid market’s size & manufacturing. The acrylic acid demand in all regions is estimated to rise due to their advanced technology, purity, and consistency, where they can be used across various applications.
Recent Development
August 2021 SINOPEC and BASF have disclosed the expansion of capacity of numerous downstream chemical plants, with the latest tert-butyl acrylate plant, to aid the rising Chinese market. BASF-YPC Co. Ltd runs a Verbund production site, a 50-50 joint venture of both firms in Nanjing, China. The partners will boost the manufacturing capacities of purified ethylene oxide, ethanolamines, propionic acid, ethyleneamines, and propionic aldehyde and develop the latest tert-butyl acrylate plant. This latest facility will be a complementary addition to the downstream with isobutene and acrylic acid of the existing Verbund as feedstock that marks the first time this innovative production technology is being employed of Germany. The plant is likely to be fully operational by the end of 2023.
June 2021 the largest asset of Bharat Petroleum, Kochi Refinery, is all set to finish a Rs 6,000-crore PDP complex by the end of this month with the contracting of the last unit, which will produce niche petrochemical product acrylate, aiding the country save approximately Rs 4,000 crore in foreign exchange yearly. The first unit of the complex was finished in February, causing it to be the first one to manufacture acrylic acid. The second one, manufacturing oxo-alcohol, was commissioned in April this year.
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Table of Content
1 Report Prologue
2 Market Introduction
2.1 Market Definition 15
2.2 Scope Of The Study 15
2.2.1 Research Objectives 15
2.3 List Of Assumptions 15
2.4 Market Structure 15
2.5 Key Takeaways 15
3 Market Insights
4 Research Methodology
4.1 Research Process 18
4.2 Primary Research 18
4.3 Secondary Research 18
4.4 Market Size Estimation 19
4.5 Forecast Model 19
5 Market Dynamics
5.1 Introduction 21
5.2 Drivers 21
5.2.1 Increasing Use Of Superabsorbent Polymers In Various Applications 21
5.2.2 Growth Of The Construction Industry 21
5.2.3 Rising Demand For Water-Based Adhesives 21
5.3 Restraints 22
5.3.1 Rising Environment Concerns And Health Hazards 22
5.3.2 Rise In Price Of Raw Materials 22
5.4 Opportunities 23
5.4.1 Increase In The Use Of Bio-Based Acrylic Acid 23
5.4.2 Increasing Demand From Emerging Economies 23
6 Market Factor Analysis
6.1 Market Factor Analysis 25
6.1.1 Raw Material Suppliers 25
6.1.2 Acrylic Acid Producers 25
6.1.3 Distribution Channel 26
6.1.4 End-Users 26
6.2 Porter’s Five Forces Model 27
6.2.1 Threat Of New Entrants 27
6.2.2 Threat Of Rivalry 27
6.2.3 Threat Of Substitutes 27
6.2.4 Bargaining Power Of Suppliers 28
6.2.5 Bargaining Power Of Buyers 28
7 Global Acrylic Acid Market, By Type
7.1 Introduction 29
7.2 Methyl Acrylate 30
7.3 Ethyl Acrylate 34
7.4 Butyl Acrylate 39
7.5 2-Ethylhexyl Acrylate 49
7.6 Elastomers 54
7.7 Superabsorbent 56
7.8 Water Treatment Polymers 58
7.9 Others 58
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