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The global acrylic acid market attained a volume of almost 6.3 million metric tons in the year 2020. The acrylic acid market is further expected to grow at a CAGR of 4.7% between 2021 and 2026 to reach a volume of almost 8.3 million metric tons by 2026.
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Acrylic acid is also known by different names like propene acid, vinyl formic acid, or 2-proenoic acid. It has as a clear, corrosive, colourless, and combustible liquid that has a pungent or unpleasantly bitter smell.
The Asia Pacific is the largest acrylic acid market. In the Asia Pacific, the People's Republic of China is the leading regional market and represents the fastest-growing industry in the region. China offers low production costs and an abundant supply availability to other regional markets. The industry in the Asia Pacific region is being driven by the expected 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 the substance, with the excess supply being exported to regions like the Middle East and Africa, Central and Eastern Europe, and Latin America to meet the rising demand from industries like acrylate esters and consumer packaged goods.
The demand for the product 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 industry. An expected increase in the demand for the product 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 industry of the product.
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. Its various application sectors are:
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It is required in the form of super absorbent polymer (SAP) in disposable baby diapers, feminine hygiene products, adult incontinency products, agriculture, pharma, and 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 detergents.
The report also covers the regional markets of the product like North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
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The global acrylic acid market is expected to be driven by the improving demand for the product in surface coatings in the Asia Pacific region. Its demand is expected to be mainly driven by the superabsorbent polymers industry. In the emerging nations, such as China and India, the industry for disposable baby diapers is witnessing a stable growth due to the low penetration rate of diapers, which is further expected to support the growth of the acrylic acid industry. The industry 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.
The increasing demand for personal hygiene, coatings, and paints from emerging countries like Brazil, China, and India, is propelling the growth of the acrylic acid market. The growth of industrial sectors like construction and automobile are acting as an additional impetus for the industry growth. In the United States, the European Union, and the Asia Pacific the automobile industry is witnessing a growing demand, which in turn is driving the demand for the product. In North America, the increasing demand from the automobile and construction industries is the primary driver for the product demand. In the spring and summer season, there is an improvement in the seasonal demand for the product from the construction sector in the region.
October 2020- Arkema successfully started a its new 90,000-ton acrylic acid reactor at its Clear Lake site in Texas to attract consumers from paints, superabsorbents, water treatment, and adhesives markets in North America.
August 2018- BASF PETRONAS Chemicals announced the expansion of the production capacities of its acrylic acid and butyl acrylate plants in Kuantan, Malaysia.
June 2016: BASF SE (ETR: BAS) inaugurated its production complex for acrylic acid, butyl acrylate, and superabsorbent polymers in Camaçari, Bahia, Brazil.
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:
The comprehensive EMR report provides an in-depth assessment of the industry based on the Porter's five forces model along with giving a SWOT analysis.
|Scope of the Report||Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Application, Region|
|Breakup by Application||Acrylate Esters, Super Absorbent Polymer (SAP), Others|
|Breakup by Region||North America, Europe, Asia Pacific, Latin America, Middle East and Africa|
|Market Dynamics||SWOT, Porter's Five Forces, EMR’s Key Indicators for Price and Demand|
|Competitive Landscape||Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications|
|Companies Covered||BASF SE, Nippon Shokubai Co. Ltd., The Dow Chemical Company, Arkema Group, LG Chem., Shanghai Huayi Acrylic Acid Co., Ltd, Others|
|Report Price and Purchase Option||Explore our purchase options that are best suited to your resources and industry needs.|
|Delivery Format||Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.|
*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.
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
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
7 Industry Opportunities and Challenges
8 Global Acrylic Acid Market Analysis
8.1 Key Industry Highlights
8.2 Global Acrylic Acid Historical Market (2016-2020)
8.3 Global Acrylic Acid Market Forecast (2021-2026)
8.4 Global Acrylic Acid Market by Application
8.4.1 Acrylate Esters
184.108.40.206 Market Share
220.127.116.11 Historical Trend (2016-2020)
18.104.22.168 Forecast Trend (2021-2026)
8.4.2 Super Absorbent Polymer (SAP)
22.214.171.124 Market Share
126.96.36.199 Historical Trend (2016-2020)
188.8.131.52 Forecast Trend (2021-2026)
8.5 Global Acrylic Acid Market by Region
8.5.1 Market Share
184.108.40.206 North America
220.127.116.11 Asia Pacific
18.104.22.168 Latin America
22.214.171.124 Middle East and Africa
9 Regional Analysis
9.1 North America
9.1.1 Historical Trend (2016-2020)
9.1.2 Forecast Trend (2021-2026)
9.1.3 Breakup by Country
126.96.36.199 United States of America
9.2.1 Historical Trend (2016-2020)
9.2.2 Forecast Trend (2021-2026)
9.2.3 Breakup by Country
188.8.131.52 United Kingdom
9.3 Asia Pacific
9.3.1 Historical Trend (2016-2020)
9.3.2 Forecast Trend (2021-2026)
9.3.3 Breakup by Country
9.4 Latin America
9.4.1 Historical Trend (2016-2020)
9.4.2 Forecast Trend (2021-2026)
9.4.3 Breakup by Country
9.5 Middle East and Africa
9.5.1 Historical Trend (2016-2020)
9.5.2 Forecast Trend (2021-2026)
9.5.3 Breakup by Country
184.108.40.206 Saudi Arabia
220.127.116.11 United Arab Emirates
18.104.22.168 South Africa
10 Market Dynamics
10.1 SWOT Analysis
10.2 Porter’s Five Forces Analysis
10.2.1 Supplier’s Power
10.2.2 Buyer’s Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 EMR’s Key Indicators for Demand
10.4 EMR’s Key Indicators for Price
11 Value Chain Analysis
12 Price Analysis
13 Global Acrylic Acid Trade Analysis (HS Code: 291611)
13.1 Major Exporting Countries: By Value and Volume
13.2 Major Importing Countries: By Value and Volume
14 Competitive Landscape
14.1 Market Structure
14.2 Company Profiles
14.2.1 BASF SE
22.214.171.124 Company Overview
126.96.36.199 Product Portfolio
188.8.131.52 Demographic Reach and Achievements
14.2.2 Nippon Shokubai Co. Ltd.
184.108.40.206 Company Overview
220.127.116.11 Product Portfolio
18.104.22.168 Demographic Reach and Achievements
14.2.3 The Dow Chemical Company
22.214.171.124 Company Overview
126.96.36.199 Product Portfolio
188.8.131.52 Demographic Reach and Achievements
14.2.4 Arkema Group
184.108.40.206 Company Overview
220.127.116.11 Product Portfolio
18.104.22.168 Demographic Reach and Achievements
14.2.5 LG Chem.
22.214.171.124 Company Overview
126.96.36.199 Product Portfolio
188.8.131.52 Demographic Reach and Achievements
14.2.6 Shanghai Huayi Acrylic Acid Co., Ltd
184.108.40.206 Company Overview
220.127.116.11 Product Portfolio
18.104.22.168 Demographic Reach and Achievements
15 Industry Events and Developments
List of Figures and Tables
1. Global Acrylic Acid Market: Key Industry Highlights, 2016 and 2026
2. Global Acrylic Acid Historical Market: Breakup by Application (USD Million), 2016-2020
3. Global Acrylic Acid Market Forecast: Breakup by Application (USD Million), 2021-2026
4. Global Acrylic Acid Historical Market: Breakup by Region (USD Million), 2016-2020
5. Global Acrylic Acid Market Forecast: Breakup by Region (USD Million), 2021-2026
6. North America Acrylic Acid Historical Market: Breakup by Country (USD Million), 2016-2020
7. North America Acrylic Acid Market Forecast: Breakup by Country (USD Million), 2021-2026
8. Europe Acrylic Acid Historical Market: Breakup by Country (USD Million), 2016-2020
9. Europe Acrylic Acid Market Forecast: Breakup by Country (USD Million), 2021-2026
10. Asia Pacific Acrylic Acid Historical Market: Breakup by Country (USD Million), 2016-2020
11. Asia Pacific Acrylic Acid Market Forecast: Breakup by Country (USD Million), 2021-2026
12. Latin America Acrylic Acid Historical Market: Breakup by Country (USD Million), 2016-2020
13. Latin America Acrylic Acid Market Forecast: Breakup by Country (USD Million), 2021-2026
14. Middle East and Africa Acrylic Acid Historical Market: Breakup by Country (USD Million), 2016-2020
15. Middle East and Africa Acrylic Acid Market Forecast: Breakup by Country (USD Million), 2021-2026
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
The global acrylic acid market attained a volume of 6.3 million metric tons in 2020. It is expected to witness a further growth in the forecast period of 2021-2026, growing at a CAGR of 4.7%. The market is projected to reach 8.3 million metric tons by 2026.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. On the basis of application, the market is segmented into acrylate esters, super absorbent polymer (SAP), and others. The major regional markets for the product 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 industry include BASF SE, Nippon Shokubai Co.Ltd., Dow Chemical Company, Arkema Group, LG Chem, Ltd., Formosa Plastic Corporation, and Shanghai Huayi Acrylic Acid Co., Ltd, etc.
The major drivers of the industry such as rising disposable incomes, increasing population, growing awareness of personal hygiene, and the rise in demand from SAP, automobile and construction industries are expected to aid the market growth. 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.
EMR’s approach gives their clients a comprehensive assessment of the prevailing and projected market conditions through the collection, collation, and analysis of data from trusted sources. The key questions answered in the market study are:
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