Acrylic Acid Market: Forecasting Future Market Movements
nGlobal Acrylic Acid Market size is expected to be worth around USD 20.8 billion by 2033, from USD 13.5 billion in 2023, growing at a CAGR of 4.4%nnDownload a sample report in MINUTES@//market.us/report/acrylic-acid-market/request-sample/n
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Overview Global Acrylic Acid Market size is expected to be worth around USD 20.8 billion by 2033, from USD 13.5 billion in 2023, growing at a CAGR of 4.4% during the forecast period from 2023 to 2033. The Acrylic Acid Market refers to the global industry involved in the production, distribution, and consumption of acrylic acid. This chemical compound, known for its strong odor and clear, colorless appearance, is primarily used as a raw material in the manufacture of a wide range of products. These products include superabsorbent polymers (SAPs) used in diapers and hygiene products, water treatment chemicals, adhesives, coatings, sealants, and various plastic and rubber materials. The demand for acrylic acid is driven by its versatility and wide-ranging applications across multiple industries, making it a critical component in numerous manufacturing processes. From a market research perspective, the Acrylic Acid Market is influenced by several factors, including raw material prices, technological advancements, and environmental regulations. The market is expected to grow due to increasing demand for superabsorbent polymers in the hygiene products sector and rising consumption in emerging economies. Additionally, the shift towards sustainable and bio-based acrylic acid production methods is
gaining momentum, driven by consumer preference for eco-friendly products and stricter environmental policies. Market players are focusing on innovation, strategic partnerships, and expanding their production capacities to meet the growing demand and maintain a competitive edge. rk t gm nt By Derivative Acrylic Esters Butyl Acrylate Ethyl Acrylate Methyl Acrylate 2-Ethylhexyl Acrylate Others Acrylic Polymer Superabsorbent Polymers Water Treatment Polymers Others By Application Paint and Coatings Adhesives & Sealants Detergents Textiles Diapers and Feminine Hygiene Products Water Treatment Personal Care Products Others Download a sample report in MINUTES@https://market.us/report/acrylic-acid-market/request-sample/
In 2023, Acrylic Ester dominated the acrylic acid market, holding over 64.5% of the market share, due to its versatile use in various industries. Superabsorbent Polymers led the acrylic polymers segment within the acrylic acid market, with significant applications in hygiene products, agriculture, and packaging, thanks to their exceptional water-absorbing capabilities. The Paint and Coatings sector was the top application segment in the acrylic acid market, capturing over 28.4% of the market share in 2023, owing to the durability and aesthetic properties provided by acrylic acid. Key l r BASF SE Arkema Nippon Shokubai Co., Ltd. LG Chem The Dow Chemical Company Shanghai Huayi Acrylic Acid Co. Ltd. Merck KGaA Mitsubishi Chemical Corporation Sasol Limited Formosa Plastics Corporation Cargill, Incorporated SNP Inc. The Lubrizol Corporation Ashland Kemira Oyi Drivers: The Acrylic Acid Market is driven by growing demand in construction and infrastructure, as acrylic acid is essential in paints, coatings, and adhesives. Rapid urbanization and construction activities worldwide necessitate durable, weather-resistant coatings and high-performance adhesives, propelling market growth. Additionally, the shift towards eco-friendly products due to rising environmental concerns is a significant driver. Acrylic acid s versatility allows the development of sustainable, low-VOC products, meeting regulatory standards and consumer demand for environmentally conscious materials.
Restraints: The market faces challenges due to fluctuating raw material prices, particularly the reliance on propylene. Price variations in propylene impact acrylic acid production costs and pose profitability challenges for manufacturers. Moreover, stringent regulatory standards regarding VOC emissions and waste disposal impose significant restraints. Compliance requires substantial investments in research and development to create compliant products, adding to the manufacturers' burden. Opportunities: Expanding applications in personal care present significant growth opportunities for the acrylic acid market. Its use in skincare and hair care products is increasing, offering potential for innovative, high-performance formulations. Additionally, technological advancements and market expansion provide opportunities for growth. Developing novel acrylic acid derivatives and exploring new application areas can drive market diversification and expansion. Trends: The market trends include the rising popularity of superabsorbent polymers derived from acrylic acid. These polymers are in high demand for diapers, feminine hygiene products, and agriculture due to their exceptional water-absorbing properties. Innovations in biodegradable polymers also present a promising trend, with ongoing research focused on creating biodegradable acrylic polymers to address plastic waste concerns, aligning with sustainability goals
