Global Acrolein Market Report and Forecast 2024-2032

Global Acrolein Market Outlook

The global acrolein market size reached approximately USD 1,177.82 million in 2023. The market is projected to grow at a CAGR of 4.50% between 2024 and 2032, reaching a value of around USD 1,750.35 million by 2032.

Key Trends in the Market

Acrolein is a clear or yellow chemical substance or molecule that has a pungent smell. It is an unsaturated aldehyde and is classified as a highly hazardous substance. This chemical is generated naturally in the environment through the combustion of organic materials, such as fossil fuels, wood, and tobacco. It is also produced as a byproduct of various industrial processes, including the production of plastics, rubber, and chemicals.

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• Acrolein is a vital intermediate chemical used in the production of various downstream chemicals, including acrylic acid, methionine, glutaraldehyde, and glycerol. The increasing demand for these chemicals from different end-use sectors, such as automotive, construction, healthcare, and consumer goods, contributes significantly to the acrolein market growth.

• Acrolein is widely used as a biocide in water treatment to control the growth of algae, bacteria, and other microorganisms. The need for efficient and effective water treatment methods to maintain water quality in sectors such as power generation, oil and gas, and municipal water treatment systems drives the demand for acrolein.

• Environmental concerns and the increasing adoption of sustainable practices have led to the emergence of bio-based raw materials and processes for acrolein production. Companies are also exploring renewable feedstocks and developing bio-based routes to produce acrolein, which can help reduce the environmental footprint and dependence on fossil fuel-derived acrolein.

Market Analysis

Based on product type, the market is bifurcated into the propylene oxidation method and glycerol dehydration method. On the basis of application, the market can be segmented into glutaraldehyde, biocides, pesticide, methionine, and water treatment agent, among others. The major regional markets for acrolein are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

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The comprehensive EMR report provides an in-depth assessment of the market based on Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global acrolein market, covering their competitive landscape and the latest developments like mergers, acquisitions, investments and expansion plans.

• Daicel Corporation

• Hubei Jinghong Chemical Co., Ltd

• Evonik Industries AG

• Merck KGaA

• Puyang ShengHuaDe Chemical Co.,Ltd.

• Hubei Shengling Technology Co., Ltd.

• Hubei Xinjing New Material Co. Ltd

• Others

Market Share by Product Type

The glycerol dehydration method is expected to account for a sizable portion of the global acrolein market share as it is used to produce acrolein from glycerol. The method is considered sustainable as glycerol is derived from renewable sources such as vegetable oils, animal fats, or waste streams.

By utilising glycerol as a feedstock for acrolein production, this method actively contributes to the utilisation of renewable resources and aligns with the principles of sustainability.

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Market Share by Region

North America is likely to hold a leading position in the market. The United States is anticipated to hold a sizable portion of the market, which can be attributed to the flourishing industrial sector. The United States is also one of the largest importers of acrolein biocide.

In addition, acrolein is also considered an important chemical for controlling germs and bacteria in oil wells, liquid hydrocarbon fuels, and water treatment ponds, which further enhances the acrolein market value.

Competitive Landscape

Daicel Corporation is a prominent Japanese chemical company known for its expertise in manufacturing and advancing high-performance materials and industrial products. The company was founded in 1919 as the first producer of celluloid in Japan. Since its foundation, the company has significantly diversified its product portfolio, focusing on the development of cutting-edge materials and technologies across various industries.

Merck KGaA, also known as Merck, is a German multinational pharmaceutical, chemical, and life sciences company. It is one of the oldest pharmaceutical and chemical companies in the world, with a history dating back to 1668. The company has research and development centres, manufacturing facilities, and sales offices worldwide.

Evonik Industries AG, a globally operating German speciality chemicals company, was established in 2007 through the merger of Degussa AG and the speciality chemicals division of the RAG Group. Renowned for its extensive array of inventive products and solutions, Evonik caters to diverse industries.

The company specialises in the development and production of advanced materials for diverse sectors, including automotive, electronics, and healthcare. Evonik’s product portfolio also includes polymer materials, high-performance plastics, and composite materials.

Other market players include Hubei Jinghong Chemical Co., Ltd, Puyang ShengHuaDe Chemical Co.,Ltd., Hubei Shengling Technology Co., Ltd., and Hubei Xinjing New Material Co. Ltd, among others.

Key Highlights of the Report