Acrylic Acid Market Share, Size, Trends, Industry Analysis Report, By Derivative Type (Acrylate Esters, Glacial Acrylic Acid and Other Acrylic Acid Products); By Application; By Region; Segment Forecast, 2024 - 2032
- Published Date:Jan-2024
- Pages: 112
- Format: PDF
- Report ID: PM1157
- Base Year: 2023
- Historical Data: 2019-2022
Report Outlook
The global acrylic acid market size and share were valued at USD 11.13 billion in 2023 and are expected to grow at a CAGR of 5.0% during the forecast period. The demand for acrylic acids is rising in various application sectors, including paints, automotive coatings, adhesives, and textiles. It is also anticipated that a growing population and a booming building industry would support market expansion. Furthermore, producers of acrylic acid expect that bio-based acrylic acid will present fresh development prospects.
Acrylic acid is an organic molecule with a pungent, acidic odor. Bearing the chemical formula CH2=CHCOOH, acrylic acid is the simplest of unsaturated carboxylic acids. Back in the day, acrylic acid was produced by the hydrolysis of acrylonitrile, which is procured by the catalytic ammoxidation of propylene. However, this method was abandoned as it cogenerates ammonium side products that must be disposed of. Currently, acrylic acid is largely produced by oxidation of propylene, an unsaturated organic compound that’s obtained as a byproduct of the production of ethylene and gasoline.
Acrylic acid is corrosive in liquid and vapor forms. It serves as an important raw ingredient for several industrial and consumer products. Acrylic acid is used as a polymer in adhesives, textiles, surface coatings, and baby diapers. Other applications of the acid include paper treatment, detergents, and super absorbent polymers. The rapid rise of the ceramic industry and growing usage of super absorbent polymers are the primary factors driving the acrylic acid market demand.
Product innovations, technological advancements, and the introduction of regulatory policies have been detailed in the report to enable businesses to make more informed decisions. Furthermore, the impact of the COVID-19 pandemic on the acrylic acid market demand has been examined in the study. The report is a must-read for anyone looking to develop effective strategies and stay ahead of the curve.
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One of the main trends in the acrylic acid market is the rapid rise of the ceramic sector. Tiles, sanitaryware, tableware, and technical ceramics are the different subsectors of the global ceramics market. In Asia-Pacific, the ceramic tiles category leads all others in demand. According to, the Indian Council of Ceramic Tiles and Sanitaryware, India is the second-largest manufacturer of ceramic tiles in Asia-Pacific, making up around 7% of global output.
A key element impacting the increase of acrylic acid is the demand for glacial acrylic acid (GAA) has increased in superabsorbent polymers (SAP). Moreover, it is estimated that the growing SAP presence in niche markets, including water treatment additives, adult incontinence, and radiation-treated coatings, would be crucial to the expansion of the acrylic acid market over the projected decade. Furthermore, shifting costs for raw materials limit the market's potential for growth.
COVID-19 had a tremendous impact on the chemical sector. In the application sectors of paints, engineering plastics, automotive, and aerospace, large chemical corporations could not sell their inventories. The industry has experienced several problems with transportation, labor, and raw material shortages. To stop the virus from spreading, governments in numerous areas have declared stringent lockdowns and travel restrictions have delayed the delivery of raw materials. Major ports were also momentarily shuttered, which impacted supply chains and activities. However, food packaging sales, hygiene items, and personal safety gear were robust.
Industry Dynamics
Growth Drivers
Due to their exceptional qualities, including durability, simplicity in maintenance, and ease of adhesion, bio-based acrylics and coatings are in high demand. Additionally, several R&D projects for new goods are boosting sales in the chemical sector by refocusing on clean, sustainable technology to produce environmentally beneficial products. Moreover, large corporations' growing R&D spending on cutting-edge technology and methods to create bio-acrylic acid from renewable resources, such as sugar and glycerol, may present attractive growth prospects for the world economy.
The primary ingredient producing super absorbents is acrylic acid (SAPs). Superabsorbents are frequently used in diapers and other hygiene products because they absorb and hold large volumes of water and aqueous solutions. Female hygiene, disposable diapers, and adult incontinence products all require SAPs, mostly made of polyacrylic acids that have been partially neutralized and weakly cross-linked.
Moreover, Super absorbent polymers are increasingly being used tool the increased elderly population and growing knowledge of the benefits of adult incontinence products. Through partnerships with manufacturers and healthcare providers, several governments have increased the manufacturing of adult incontinence products.
Report Segmentation
The market is primarily segmented based on derivative type, application, and region.
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By Derivative Type |
By Application |
By Region |
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Acrylate Esters segment accounted for the highest market share in 2022
A significant derivative of acrylic acid is acrylate esters. Many businesses have concentrated on employing acrylate esters for various end uses in automotive and others. Paints, viscosity adhesives, acrylic gums, and acrylic fabrics are only a few examples of significant applications.
Acrylates give polymers several valuable qualities, including clarity, color stability, aging and heat resistance, and outstanding weather-ability, increasing demand for the product in the paint and adhesives sectors. In addition, acrylate ester's glass transition temperature is a crucial characteristic that makes it possible for the created polymer to be suppler and more flexible than hard and brittle.
With its final usage being hygiene and personal care products, GAA is extensively employed in SAP manufacturing. GAA is being utilized more often to make polyacrylic acid. Consumption of GAA and rising SAP demand for hygiene and personal care products are anticipated to fuel the derivate segment's expansion.
The sanitary products segment held a significant market revenue share in 2022
When the Acrylic Acid market is segmented by application, hygienic products have most of the market. Promoting hygienic items such as sanitary pads, diapers, and pads in response to the rising cleanliness consciousness among all demographic groups is anticipated to enhance acrylic acid consumption throughout the predicted period.
To create superabsorbent polymers, sodium hydroxide establishes a chain of acrylic acid from the raw material acrylic acid. An integral portion of the SAP business comprises the market for feminine care products: sanitary napkins, menstruation cups, tampons, and vaginal health goods. Governments from many nations work with various non-profit organizations (NGOs) to promote feminine hygiene among girls and women, particularly in developing countries. Therefore, the acrylic acid market is anticipated to be driven by increased sanitary product sales. All demographic groups' increasing hygiene consciousness is expected to encourage superabsorbent polymers (pads, diapers, and sanitary napkins), which might increase acrylic acid usage.
Asia Pacific dominated the global market in 2022
The largest market for acrylic acid globally is anticipated to be in the Asia-Pacific region. The demand for paints and coatings is developing in this area as a result of the increased investments in the building, automotive, and infrastructure sectors. The world's most significant personal care and hygiene consumer is in Asia-Pacific. Because there are many infants in the neighborhood, there is a greater demand for personal care and hygiene items, which will increase spending.
Furthermore, China is a significant consumer of personal hygiene goods worldwide. A large newborn population and rising disposable income, which drive up personal and hygiene care spending, are blamed for the country's need for personal hygiene goods. As a result, it is projected that this factor would increase acrylic acid demand.
Competitive Insight
Some major players operating in the global market include BASF SE, Lucite International, Lucite International, Dow Chemical, Mitsubishi Chemical Corporation, LG Chem, Cargill Incorporated, The Lubrizol Corporation, Nippon Shokubai Co., Ltd., Arkema S.A., SNP Inc., Ashland, and Kemira Oyi.
Recent Developments
In August 2021, BASF and SINOPEC decided to increase the size of their Verbund plant in Nanjing, China, which is run by BASF-YPC Co. Ltd, a 50/50 joint venture between the two businesses. It comprises the capacity development of numerous downstream chemical facilities, including a new tert-Butyl acrylate factory to meet the expanding Chinese market.
In October 2020, Arkema successfully started up a new 90,000-ton acrylic acid reactor in Texas to draw customers from the North American paints, super-absorbents, water treatment, and adhesives sectors.
Acrylic Acid Market Report Scope
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Report Attributes |
Details |
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The market size value in 2024 |
USD 11.64 billion |
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The revenue forecast in 2032 |
USD 17.25 billion |
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CAGR |
5.0% from 2024 – 2032 |
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Base year |
2023 |
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Historical data |
2019 – 2022 |
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Forecast period |
2024 – 2032 |
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Quantitative units |
Revenue in USD billion and CAGR from 2024 to 2032 |
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Segments Covered |
By Derivative Type, By Application, By Region |
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Regional scope |
North America, Europe, Asia Pacific, Latin America; Middle East & Africa |
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Key Companies |
BASF SE, Lucite International, Lucite International, Dow Chemical, Mitsubishi Chemical Corporation, LG Chem, Cargill Incorporated, The Lubrizol Corporation, Nippon Shokubai Co., Ltd., Arkema S.A., SNP Inc., Ashland, and Kemira Oyi. |
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FAQ's
The Acrylic Acid Market report covering key are derivative type, application, and region.
Acrylic Acid Market Size Worth $ 17.25 Billion By 2032.
The global acrylic acid market expected to grow at a CAGR of 5.0% during the forecast period.
Asia Pacific is Acrylic Acid Market.
key driving factors in Acrylic Acid Market are Rapid increase in adhesives and sealants market.
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