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Global Acrylic Acid Market Size, Share, Trends, Forecast: By Applications: Acrylate Esters, Super Absorbent Polymer (SAP), Others; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis, Key Indicators for Demand, Key Indicators for Price; Competitive Landscape; Key Trends and Developments in the Market; 2024-2032
Global Acrylic Acid Market Outlook
The global acrylic acid market size attained a volume of approximately 8.44 MMT in 2023. The market is further expected to grow in the forecast period of 2024-2032 at a CAGR of 5.1%, reaching a volume of around 13.21 MMT by 2032.
Acrylic acid is used to make a variety of goods, including flat sheets, plastic extruded tubes, moulded goods, paints, and other industrial chemicals. Engineering plastics, co-polymers, and paints and coatings industries are key end users of acrylic acid as a raw material. The acrylic acid market has enormous potential in a wide range of applications, including paints, surface coatings, emulsion coatings, adhesives, and sealants. Due to its transparency and stain-resistance, acrylic acid is being used more frequently.
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The use of bio-acrylic acid in adhesives and sealants offers a promising chance to create more environmentally responsible and long-lasting products. This can aid in satisfying the rising need for eco-friendly solutions across a variety of industries, including construction, automotive, and aerospace, thus aiding the bio acrylic acid market.
Global Acrylic Acid Market Share by Region
The Asia Pacific is the largest regional market for acrylic acid, led by China which represents the fastest-growing market in the region. China offers low production costs and an abundant supply availability to other regional markets. The market for acrylic acid in the Asia Pacific region is being driven by the growth in industries like construction, personal care products, and paints (coating), which use acrylic acid and its derivatives in their products. The region is also a major exporter of acrylic acid, with the excess supply being exported to regions like the Middle East and Africa, Europe, and Latin America to meet the rising demand from industries like acrylate esters and consumer packaged goods.
The demand for acrylic acid is being significantly driven by rising sectors like construction, superabsorbent polymers, and automobile industries, particularly in emerging economies like China, India, and Brazil. The increasing per capita consumption, the growing penetration rate of diapers, and the rising disposable incomes in India, China, and other Asian countries are further enabling the growth of the acrylic acid global market. An expected increase in the demand for acrylic acid from the surface coatings industry in the Asia Pacific and the seasonal demand from the construction industry in North America and Europe will continue to drive the market of acrylic acid.
Market Segmentation
Acrylic acid is also known by different names like propene acid, vinyl formic acid, or 2-proenoic acid. It is a clear, corrosive, colourless, and combustible liquid that has a pungent or unpleasantly bitter smell. Acrylic acid is widely used as an absorbent in various products. Due to its highly reactive nature, it reacts with alcohol to form acrylates, which are used in a variety of polymers, which find extensive applications in hygiene products.
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Furthermore, acrylic acid is utilised in the form of super absorbent polymer (SAP) in disposable baby diapers, feminine hygiene products, adult incontinency products, agriculture, and pharmaceuticals, among others. It is also used in the form of acrylate esters like methyl acrylate and 2-ethylhexyl acrylate in polymer coatings and finishes, adhesives, sealants, plastics, textiles, paints, coatings, inks, engineered plastics, and lubricating oil additives, among others. It also enables water treatment and production of detergents.
Based on application, the market is segmented into:
- Acrylate Esters
- Super Absorbent Polymer (SAP)
- Others
The report also covers the regional markets of acrylic acid like North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
Acrylic Acid Market Analysis
The global acrylic acid market is expected to be driven by the increasing demand for acrylic acid in surface coatings in the Asia Pacific region. Its demand is also expected to be driven by the superabsorbent polymers industry. In emerging nations, such as China and India, the market for disposable baby diapers is witnessing a stable growth due to the low penetration rate of diapers, which is further expected to support the market for acrylic acid. The market is also expected to be driven by industries such as water treatment and detergent co-builders, which are projected to witness a healthy growth during the forecast period.
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The increasing demand for personal hygiene, coatings, and paints from emerging countries like Brazil, China, and India, is propelling the market for acrylic acid. The growth of industrial sectors like construction and automobile are acting as an additional impetus for the market growth. In the United States, the European Union, and the Asia Pacific the automobile market is witnessing a growing demand, which in turn is driving the acrylic acid market demand. In North America, the increasing demand from the automobile and construction industries is a primary driver for the acrylic acid demand.
Competitive Landscape
The report gives a detailed analysis of the following key players in the global acrylic acid market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- BASF SE
- Nippon Shokubai Co. Ltd.
- The Dow Chemical Company
- Arkema Group
- LG Chem. Ltd.
- Shanghai Huayi Acrylic Acid Co., Ltd
- Evonik Industries AG
- Mitsubishi Chemical Corporation
- SIBUR International GmbH
- Satellite Chemical Co.,Ltd.
- Wanhua Petrochemical (Yantai) Co., Ltd.
- Toagosei Co., Ltd
- China Petroleum & Chemical Corporation
- Others
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Application |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
|
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Acrylic Acid Market Analysis
8.1 Key Industry Highlights
8.2 Global Acrylic Acid Historical Market (2018-2023)
8.3 Global Acrylic Acid Market Forecast (2024-2032)
8.4 Global Acrylic Acid Market by Application
8.4.1 Acrylate Esters
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Super Absorbent Polymer (SAP)
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.3 Others
8.5 Global Acrylic Acid Market by Region
8.5.1 North America
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Europe
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Asia Pacific
8.5.3.1 Historical Trend (2018-2023)
8.5.3.2 Forecast Trend (2024-2032)
8.5.4 Latin America
8.5.4.1 Historical Trend (2018-2023)
8.5.4.2 Forecast Trend (2024-2032)
8.5.5 Middle East and Africa
8.5.5.1 Historical Trend (2018-2023)
8.5.5.2 Forecast Trend (2024-2032)
9 North America Acrylic Acid Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Acrylic Acid Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Acrylic Acid Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Acrylic Acid Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Acrylic Acid Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Trade Data Analysis (HS Code- 291611)
16.1 Major Exporting Countries
16.1.1 By Value
16.1.2 By Volume
16.2 Major Importing Countries
16.2.1 By Value
16.2.2 By Volume
17 Price Analysis
18 Competitive Landscape
18.1 Market Structure
18.2 Company Profiles
18.2.1 BASF SE
18.2.1.1 Company Overview
18.2.1.2 Product Portfolio
18.2.1.3 Demographic Reach and Achievements
18.2.1.4 Certifications
18.2.2 Nippon Shokubai Co. Ltd.
18.2.2.1 Company Overview
18.2.2.2 Product Portfolio
18.2.2.3 Demographic Reach and Achievements
18.2.2.4 Certifications
18.2.3 The Dow Chemical Company
18.2.3.1 Company Overview
18.2.3.2 Product Portfolio
18.2.3.3 Demographic Reach and Achievements
18.2.3.4 Certifications
18.2.4 Arkema Group
18.2.4.1 Company Overview
18.2.4.2 Product Portfolio
18.2.4.3 Demographic Reach and Achievements
18.2.4.4 Certifications
18.2.5 LG Chem. Ltd.
18.2.5.1 Company Overview
18.2.5.2 Product Portfolio
18.2.5.3 Demographic Reach and Achievements
18.2.5.4 Certifications
18.2.6 Shanghai Huayi Acrylic Acid Co., Ltd
18.2.6.1 Company Overview
18.2.6.2 Product Portfolio
18.2.6.3 Demographic Reach and Achievements
18.2.6.4 Certifications
18.2.7 Evonik Industries AG
18.2.7.1 Company Overview
18.2.7.2 Product Portfolio
18.2.7.3 Demographic Reach and Achievements
18.2.7.4 Certifications
18.2.8 Mitsubishi Chemical Corporation
18.2.8.1 Company Overview
18.2.8.2 Product Portfolio
18.2.8.3 Demographic Reach and Achievements
18.2.8.4 Certifications
18.2.9 SIBUR International GmbH
18.2.9.1 Company Overview
18.2.9.2 Product Portfolio
18.2.9.3 Demographic Reach and Achievements
18.2.9.4 Certifications
18.2.10 Satellite Chemical Co.,Ltd.
18.2.10.1 Company Overview
18.2.10.2 Product Portfolio
18.2.10.3 Demographic Reach and Achievements
18.2.10.4 Certifications
18.2.11 Wanhua Petrochemical (Yantai) Co., Ltd.
18.2.11.1 Company Overview
18.2.11.2 Product Portfolio
18.2.11.3 Demographic Reach and Achievements
18.2.11.4 Certifications
18.2.12 Toagosei Co., Ltd
18.2.12.1 Company Overview
18.2.12.2 Product Portfolio
18.2.12.3 Demographic Reach and Achievements
18.2.12.4 Certifications
18.2.13 China Petroleum & Chemical Corporation
18.2.13.1 Company Overview
18.2.13.2 Product Portfolio
18.2.13.3 Demographic Reach and Achievements
18.2.13.4 Certifications
18.2.14 Others
19 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Acrylic Acid Market: Key Industry Highlights, 2018 and 2028
2. Global Acrylic Acid Historical Market: Breakup by Application (MMT), 2018-2023
3. Global Acrylic Acid Market Forecast: Breakup by Application (MMT), 2024-2032
4. Global Acrylic Acid Historical Market: Breakup by Region (MMT), 2018-2023
5. Global Acrylic Acid Market Forecast: Breakup by Region (MMT), 2024-2032
6. North America Acrylic Acid Historical Market: Breakup by Country (MMT), 2018-2023
7. North America Acrylic Acid Market Forecast: Breakup by Country (MMT), 2024-2032
8. Europe Acrylic Acid Historical Market: Breakup by Country (MMT), 2018-2023
9. Europe Acrylic Acid Market Forecast: Breakup by Country (MMT), 2024-2032
10. Asia Pacific Acrylic Acid Historical Market: Breakup by Country (MMT), 2018-2023
11. Asia Pacific Acrylic Acid Market Forecast: Breakup by Country (MMT), 2024-2032
12. Latin America Acrylic Acid Historical Market: Breakup by Country (MMT), 2018-2023
13. Latin America Acrylic Acid Market Forecast: Breakup by Country (MMT), 2024-2032
14. Middle East and Africa Acrylic Acid Historical Market: Breakup by Country (MMT), 2018-2023
15. Middle East and Africa Acrylic Acid Market Forecast: Breakup by Country (MMT), 2024-2032
16. Major Exporting Countries by Value
17. Major Importing Countries by Value
18. Major Exporting Countries by Volume
19. Major Importing Countries by Volume
20. Global Acrylic Acid Market Structure
Key Questions Answered in the Report
In 2023, the global market for acrylic acid attained a volume of approximately 8.44 MMT.
The market is projected to grow at a CAGR of 5.10% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach a volume of around 13.21 MMT by 2032.
The major drivers of the market include rising disposable incomes, growth of construction, superabsorbent polymers, and automobile industries, and increasing population.
The key acrylic acid market trends include the rising demand for water treatment and detergent co-builders, improvements in production, and increasing usage of diapers.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The leading applications of acrylic acid in the market are acrylate esters, and super absorbent polymer (SAP), among others.
The major players in the market, according to the report, are BASF SE, Nippon Shokubai Co. Ltd., The Dow Chemical Company, Arkema Group, LG Chem. Ltd., Shanghai Huayi Acrylic Acid Co., Ltd, Evonik Industries AG, Mitsubishi Chemical Corporation, SIBUR International GmbH, Satellite Chemical Co.,Ltd., Wanhua Petrochemical (Yantai) Co., Ltd., Toagosei Co., Ltd, and China Petroleum & Chemical Corporation, among others.
Analyst Review
The global acrylic acid market attained a volume of approximately 8.44 MMT in 2023, driven by the growth of the construction, superabsorbent polymers, and automobile industries. Aided by the rising demand for water treatment, the market is expected to witness a further growth in the forecast period of 2024-2032, growing at a CAGR of 5.1%. The market is projected to reach a volume of around 13.21 MMT by 2032.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the market. Based on application, the market is segmented into acrylate esters, and super absorbent polymer (SAP), among others. The major regional markets for acrylic acid are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa, with the Asia Pacific accounting for the largest share of the market. The key players in the above market include BASF SE, Nippon Shokubai Co. Ltd., The Dow Chemical Company, Arkema Group, LG Chem. Ltd., Shanghai Huayi Acrylic Acid Co., Ltd, Evonik Industries AG, Mitsubishi Chemical Corporation, SIBUR International GmbH, Satellite Chemical Co.,Ltd., Wanhua Petrochemical (Yantai) Co., Ltd., Toagosei Co., Ltd, and China Petroleum & Chemical Corporation, among others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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