Westford, USA, Dec. 11, 2024 (GLOBE NEWSWIRE) -- SkyQuest projects that the acrylic acid market size will attain a value of USD 20.10 billion by 2031, with a CAGR of 4.8% over the forecast period (2024-2031). Rapid urbanization around the world and growing demand for superabsorbent polymers are expected to primarily drive global acrylic acid market growth in the future. Growing use acrylic acid in automotive, paints & coatings, and construction industry verticals is also expected to present new opportunities for acrylic acid suppliers going forward.
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Browse in-depth TOC on "Acrylic Acid Market"
- Pages - 197
- Tables - 95
- Figures – 76
Acrylic Acid Market Overview:
| Report Coverage | Details |
| Market Revenue in 2023 | $ 13.81 Billion |
| Estimated Value by 2031 | $ 20.10 Billion |
| Growth Rate | Poised to grow at a CAGR of 4.8% |
| Forecast Period | 2024–2031 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Derivative Type, Production Technology, End Use, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the world |
| Report Highlights | Growing demand for paints and coatings around the world |
| Key Market Opportunities | Adoption of bio-based acrylic acid |
| Key Market Drivers | Rapid urbanization and industrialization on a global level |
Acrylic Acid Market Segmental Analysis
The global acrylic acid market is segmented into derivative type, production technology, end use, and region.
By derivative type, the market is classified into acrylate esters, glacial acrylic acid, and others.
Depending on the production technology, it is divided into propylene-based process, bio-based acrylic acid, and acrolein-based process.
According to end use, the market is categorized into surfactants & surface coatings, organic chemicals, adhesives & sealants, textiles, water treatment, personal care products, and others.
Regionally, the market is studied across North America, Europe, Asia-Pacific, Middle East and Africa, and Latin America.
High Use of Acrylate Esters in Paints and Coatings Industry Brings in Most Revenue for Companies
Acrylate esters are forecasted to account for a significant chunk of the global acrylic acid market share in the future. Extensive use of acrylate esters in paints, coatings, textiles, and adhesives owing to their impressive film formation, adhesion, and durability characteristics are also expected to promote the dominance of this segment going forward.
Excellent Bonding Abilities of Acrylic Acid Promoting its Adoption in Adhesives & Sealants Segment
High resistance to heat, moisture, and UV radiation coupled with excellent bonding abilities makes acrylic acid a preferred material in adhesives & sealants end use segment. Surging demand for advanced adhesives and sealants from construction, automotive, and aerospace industries is slated to make this a highly opportune segment over the coming years.
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Robust Urbanization and Industrialization Help Asia Pacific Hold Sway Over Other Regions
Asia Pacific is estimated to lead the global acrylic acid industry across the study period. The presence of a robust paints and chemicals industry and availability of cheap labor and raw materials help cement the dominance of this region. China, Japan, and India are expected to be the leading revenue generators for the Asia Pacific region.
Acrylic Acid Market Insights:
Drivers
- Rising demand for super absorbent polymers (SAPs)
- Rapid urbanization and industrialization around the world
- Increasing demand for paints, coatings, and adhesives across different industry verticals
Restraints
- Volatility in raw material pricing
- Imposition of stringent mandates banning use of toxic chemicals
- High reactivity of acrylic acid
Prominent Players in Acrylic Acid Market
- Vigon International, LLC.
- SMC
- BASF SE
- Arkema
- LG Chem Ltd.
- Shanghai Huayi Acrylic Acid Co., Ltd
- NIPPON SHOKUBAI CO., LTD.
- Dow
- Sinopec
- Formosa Plastics Corporation, U.S.A
- Sasol
- Wanhua
- SIBUR
- Mitsubishi Chemical Holdings Corporation
- Myriant Corporation
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Key Questions Answered in Acrylic Acid Market Report
- Which segment is leading the global acrylic acid market outlook?
- Can volatility of raw material prices be managed?
- Where is most acrylic acid used?
- Who are the top acrylic acid providers as per this global acrylic acid market analysis?
This report provides the following insights:
Analysis of key drivers (rising urbanization and industrialization, growing demand for super absorbent polymers), restraints (fluctuations in raw material pricing, imposition of stringent environmental mandates), and opportunities (adoption of bio-based acrylic acid) influencing the growth of acrylic acid market.
- Market Penetration: All-inclusive analysis of product portfolio of different market players and status of new product launches.
- Product Development/Innovation: Elaborate assessment of R&D activities, new product development, and upcoming trends of the acrylic acid market.
- Market Development: Detailed analysis of potential regions where the market has potential to grow.
- Market Diversification: Comprehensive assessment of new product launches, recent developments, and emerging regional markets.
- Competitive Landscape: Detailed analysis of growth strategies, revenue analysis, and product innovation by new and established market players.
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