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Global Acrylic Acid Market: By Applications: Acrylate Esters, Super Absorbent Polymer (SAP), Others; By Region: North America, Europe, Asia Pacific, Latin America, Middle East and Africa; Historical Production and Consumption (2016-2020); Production and Consumption Forecast (2021-2026); Global Acrylic Acid Price Analysis; Global Acrylic Acid Trade Data Analysis (HS Code: 291611); SWOT Analysis; Porter’s Five Forces Analysis; Value Chain Analysis; Procurement Strategy; Cost Analysis; Competitive Landscape & Supplier Analysis; Events and Developments
Global Acrylic Acid Market Key Insights:
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Market Outlook
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. 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.
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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.
Properties and Applications
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:
- Acrylate Esters
- Super Absorbent Polymer (SAP)
- Others
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.
Market Analysis
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.
Competitive Landscape
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:
- BASF SE
- Nippon Shokubai Co.,Ltd.
- Dow Chemical Company
- Arkema Group
- LG Chem, Ltd.
- Formosa Plastic Corporation
- Shanghai Huayi Acrylic Acid Co., Ltd
- Others
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.
1 Preface
1.1 Objectives of the Study
1.1.1 Research Objective
1.1.2 Key Findings of the Report
2 Research Methodology
2.1 Data Extraction
2.2 Data Corroboration
2.3 Market Structure
2.4 Assumptions
2.5 Market Models
3 Introduction
3.1 Market Outlook
3.2 Market Scope and Segmentation
3.3 Additional Insights
4 Executive Summary
4.1 Key Market Developments
4.2 Market Analysis
4.3 Key Players
4.4 Cost Structure
4.5 Market Revenue and Growth
5 Market Dynamics
5.1 Market Driver Analysis
5.2 Market Restraint Analysis
5.3 Industry Challenges
5.4 Industry Opportunities
6 Global Acrylic Acid Market Analysis
6.1 Figure: Global Acrylic Acid Historical Market (2016-2020) & Forecast (2021-2026)
6.2 Chart: Global Acrylic Acid Market Breakup by Applications
6.2.1 Acrylate Esters
6.2.2 Super Absorbent Polymer (SAP)
6.2.3 Others
6.3 Figure: Global Acrylic Acid Market Breakup by Applications: Historical Market (2016-2020) & Forecast (2021-2026)
6.3.1 Acrylate Esters
6.3.2 Super Absorbent Polymer (SAP)
6.3.3 Others
6.4 Chart: Global Acrylic Acid Market Breakup by Region
6.4.1 North America
6.4.1.1 United States of America
6.4.1.2 Canada
6.4.2 Europe
6.4.2.1 Germany
6.4.2.2 United Kingdom
6.4.2.3 France
6.4.2.4 Italy
6.4.2.5 Others
6.4.3 Asia Pacific
6.4.3.1 China
6.4.3.2 Japan
6.4.3.3 India
6.4.3.4 ASEAN
6.4.3.5 Others
6.4.4 Latin America
6.4.4.1 Brazil
6.4.4.2 Argentina
6.4.4.3 Mexico
6.4.4.4 Others
6.4.5 Middle East & Africa
6.4.5.1 Saudi Arabia
6.4.5.2 United Arab Emirates
6.4.5.3 Nigeria
6.4.5.4 South Africa
6.4.5.5 Others
6.5 Figure: Global Acrylic Acid Market Breakup by Region: Historical Market (2016-2020) & Forecast (2021-2026)
6.5.1 North America
6.5.1.1 United States of America
6.5.1.2 Canada
6.5.2 Europe
6.5.2.1 Germany
6.5.2.2 United Kingdom
6.5.2.3 France
6.5.2.4 Italy
6.5.2.5 Others
6.5.3 Asia Pacific
6.5.3.1 China
6.5.3.2 Japan
6.5.3.3 India
6.5.3.4 ASEAN
6.5.3.5 Others
6.5.4 Latin America
6.5.4.1 Brazil
6.5.4.2 Argentina
6.5.4.3 Mexico
6.5.4.4 Others
6.5.5 Middle East & Africa
6.5.5.1 Saudi Arabia
6.5.5.2 United Arab Emirates
6.5.5.3 Nigeria
6.5.5.4 South Africa
6.5.5.5 Others
7 Global Acrylic Acid Price Analysis
7.1 North America Historical Price Trends (2016-2020) and Forecast (2021-2026)
7.2 Europe Historical Price Trends (2016-2020) and Forecast (2021-2026)
7.3 Asia Pacific Historical Price Trends (2016-2020) and Forecast (2021-2026)
7.4 Latin America Historical Price Trends (2016-2020) and Forecast (2021-2026)
7.5 Middle East and Africa Historical Price Trends (2016-2020) and Forecast (2021-2026)
8 Global Acrylic Acid Trade Analysis (HS Code: 291611)
8.1 Major Exporting Countries: By Value and Volume
8.2 Major Importing Countries: By Value and Volume
9 SWOT Analysis
9.1 Overview
9.2 Strengths
9.3 Weaknesses
9.4 Opportunities
9.5 Threats
10 Porter’s Five Forces Analysis
10.1 Overview
10.2 Buyer’s Power
10.3 Supplier’s Power
10.4 New Entrants
10.5 Degree of Rivalry
10.6 Substitutes
13 Value Chain Analysis
11 EMR’s Key Indicators for Demand
12 EMR’s Key Indicators for Price
14 Procurement Strategy
14.1 Pros and Cons
14.2 Contract Models
15 Cost Analysis
15.1 Raw Material Cost
15.2 Utility Cost
15.3 Labour Cost
15.4 Others
16 Competitive Landscape & Supplier Analysis
16.1 BASF SE
16.1.1 Company Overview
16.1.2 Financial Analysis
16.2 Nippon Shokubai Co.,Ltd.
16.2.1 Company Overview
16.2.2 Financial Analysis
16.3 Dow Chemical Company
16.3.1 Company Overview
16.3.2 Financial Analysis
16.4 Arkema Group
16.4.1 Company Overview
16.4.2 Financial Analysis
16.5 LG Chem, Ltd.
16.5.1 Company Overview
16.5.2 Financial Analysis
16.6 Formosa Plastic Corporation
16.6.1 Company Overview
16.6.2 Financial Analysis
16.7 Shanghai Huayi Acrylic Acid Co., Ltd
16.7.1 Company Overview
16.7.2 Financial Analysis
16.8 Others
17 Events and Developments
Additional Customisations Available:
18 Manufacturing Process
18.1 Detailed Process Flow
18.2 Operations Involved
18.3 Mass Balance
19 Production Cost Analysis and Project Economics
19.1 Land, Location and Site Development
19.2 Construction
19.3 Plant Machinery
19.4 Cost of Raw Material
19.5 Packaging
19.6 Transportation
19.7 Utilities
19.8 Manpower
19.9 Other Capital Investment
Analyst Review
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:
- How has the global acrylic acid market performed in the previous years (2016-2020)?
- What is the forecast assessment of the market for 2021-2026?
- What are the major market drivers and constraints?
- What are the major price and demand indicators of the global acrylic acid market?
- What are the price trends of the product in the global acrylic acid market?
- Who are the key manufacturers of the product in the global market?
- What is the degree of competition in the global acrylic acid market?
- What are the import and export trends in the global acrylic acid market?
- Who are the top importers and exporters of the product in the global market?
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