The global Acrylic Acid Market research report provides complete insights on industry scope, trends, regional estimates, key application, competitive landscape and financial performance of prominent players. It also offers ready data-driven answers to several industry-level questions. This study enables numerous opportunities for the market players to invest in research and development.
Market Overview:
Global Acrylic Acid Market is anticipated to reach USD 22.55 billion by 2022. Acrylic acid is an organic compound having acrid smell or tart. A huge portion of this composite is used as a feedstock for obtaining acrylate esters. Acrylate esters have a spectrum of applications in plastic additives, paper treatment, adhesives, textiles, surface coatings, and sealants.
Key Players:
- Arkema
- BASF
- CNPC
- Dow Chemical Co.
- Formosa Plastics Co.
- Jiangsu Jurong Chemical Co. Ltd.
- LG Chemical
- Mitsubishi Chemical
- Momentive Specialty Chemicals co.
- Nippon Shokubai
- Shenyang Chemical Co. Ltd.
- SIBUR
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Growth Drivers:
The factors that propel the growth of the acrylic acid industry include growing demand for acrylic acid in developing markets and high demand from the surface diapers, coatings, and adult incontinence application sectors. On the other hand, there are factors that may hamper the growth of the market including strict environmental rules and extremely volatile prices of raw material. Acrylic Acid Market is anticipated to grow at a significant CAGR of 5.6% in the upcoming period as the scope, product types, and its applications are increasing across the globe.
Product Outlook:
- Acrylate Esters
- Glacial Acrylic Acid
End-Use Outlook:
- Surfactants
- Organic Chemicals
- Adhesives & Sealants
- Textiles
- Water Treatment
- Personal Care Products
The “Personal Care” segment led the market in 2015 and is anticipated to maintain its dominance by 2022 owing to rising demand for super absorbent polymers in these applications is anticipated to propel demand.
Regional Outlook:
Asia-Pacific accounted for the major share of the Acrylic Acid Market Size in 2015 and will continue to lead in the forecast period. The factors that could be attributed to the growth include growing consumption for acrylic acid in surface adhesives, diapers, and coatings, and robust demand in Asia-Pacific. China is anticipated to grow exponentially in the forecast period. Asia-Pacific is followed by North America.
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