The global Acrylic Acid Market is projected to grow at an impressive rate through 2028 due to the increasing demand from the construction industry. Building an advanced industrial plant in Manchester costs USD 2,250 per square meter.
Acrylic acid is a basic component of chemicals and is derived from propylene. Acrylic acid serves as a precursor for various industrial products, including coatings, adhesives, sealants, dispersants, and thickeners that are utilized in various sectors, including construction, automotive, building, telecommunication, and consumer goods. The commercialization of bio-based acrylic acid would boost the acrylic acid business and fend off government concerns about environmental protection.
Derivatives made from basic renewable materials would reduce our reliance on fossil fuels. The cost of manufacturing acrylic acid would experience a price correction because of the proper balancing of supply and demand because renewable raw derivative types are less expensive than resources derived from fossil fuels.
Browse over XX market data Figures spread through XX Pages and an in-depth TOC on the “Global Acrylic Acid Market” @ https://www.techsciresearch.com/report/acrylic-acid-market/4055.html
Additionally, bio-based acrylic acid reduces the adverse impacts of acrylic acid on the environment, removing the restriction on utilizing acrylic acid concentrations following regulatory organizations’ requirements. This element gives businesses the means to utilize acrylic acid as needed.
The market for acrylic acid in places like North America and Europe, where government regulations constrain market development, has a significant growth opportunity due to bio-based acrylic acid.
In 2022, the birth rate is 17.668 for every 1,000 people worldwide which contribute to a lucrative demand for diaper. The increasing demand for sustainable and eco-friendly products has led to a shift towards bio-based acrylic acid. Several companies are investing in the development of bio-based acrylic acid using renewable raw materials such as sugar or glycerin. This development is expected to reduce the carbon footprint of the acrylic acid industry and provide a sustainable source of raw materials.
Growing Demand for Water Treatment
The demand for water treatment solutions is the result of increasing global population and industrialization, which is putting pressure on the world’s water resources. As a result, there is a growing need for technologies and products that can help to treat and purify water, making it safe for human consumption and industrial use.
The treatment of wastewater is a significant issue worldwide. Industries expand along with population growth, posing environmental challenges and health risks. Therefore, it is in the best interests of scientists and engineers to create materials and techniques to reduce environmental pollution. The process of flocculation is crucial to wastewater treatment. The level of treated water quality indicators, a measure of wastewater treatment effectiveness, is reflected by the physical and chemical characteristics of flocculants based on poly (acrylamide-co-acrylic acid) produced by electron beam irradiation.
Growing Demand from Construction Industry
Acrylates give polymers various desirable qualities such as clarity, color stability, aging resistance, and heat resistance, in addition to outstanding weather ability, which increases product demand in the paint and adhesives industries. In addition, the glass transition temperature of acrylate ester, which allows the created polymer to be softer and more flexible rather than rigid and brittle, is an important property. Thus, acrylic acid is mostly utilized to create polymers for various plastic goods. Additionally, it can be used to make surfactants, adhesives, and sealants. The acrylic acid market’s derivative, application, and geographic segments are separated. Methyl acrylate, butyl acrylate, ethyl acrylate, 2-Ethylhexyl acrylate, glacial acrylic acid, and superabsorbent polymers are the derivatives into which the market is divided.
Growing Demand from Superabsorbent Polymers
Superabsorbent Polymers are a class of polymers that could absorb and retain large amounts of liquid relative to their own weight. They are primarily used in applications where water or other liquids need to be absorbed quickly and efficiently, such as in the production of diapers, feminine hygiene products, and agricultural applications. SAPs are typically made from acrylic acid, which is polymerized to produce a cross-linked structure.
The resulting polymer chains have hydrophilic (water-loving) groups that can absorb water molecules and retain them within the polymer matrix. Indian consumer markets are experiencing is the blurring difference between rural and urban consumers.
Rural consumers’ basket mirrors that of their urban counterparts, giving rise to the concept of ‘urbanization’. This implies that marketers are making urban-centered products (such as diapers and deodorants) available in rural markets as well. According to various studies, India’s Diaper market is USD 5.90 Billion in 2022 which reflects the growing demand for superabsorbent polymers. And hence driving the demand for acrylic acid.
Recent Developments
- In August 2021, BASF and SINOPEC announced plans to expand their Verbund site, managed by BASF-YPC Co. Ltd., a 50% share-owned joint venture of both BASF and SINOPEC in Nanjing, China. The capacity of several downstream chemical plants is being increased, and a new tert-Butyl acrylate factory is being built to meet the rising Chinese market.
- In 2020, BASF acquired the polyamide business of Solvay, which included the production of acrylonitrile, a key raw material for acrylic acid.
- In 2021, Mitsui Chemicals launched its new range of acrylic acid polymers called Tafmer BI.
- In 2021, Evonik launched its new range of specialty monomers called VISIOMER Terra. These monomers are based on bio-based acrylic acid and are designed for use in the production of high-performance polymers such as PMMA and PEMA.
Capacity Expansions
- In 2021, Mitsubishi Chemical announced a plan to expand the production capacity of its acrylic acid plant in Japan by 20%. The expansion is expected to be completed in 2023 and will increase the company’s production capacity for acrylic acid and its derivatives.
- In 2020, Dow announced a plan to expand the production capacity of its acrylic acid plant in Texas, USA, by 15%.
Download Free Sample Report @ https://www.techsciresearch.com/sample-report.aspx?cid=4055
Customers can also request for 10% free customization on this report
Market Segmentation
Global Acrylic Acid market is segmented by derivative type, and application. Based on derivative type, the market is divided into Acrylic Esters (Ethyl Acrylate, Methyl Acrylate, Butyl Acrylate, 2-Ethyhexyl Acrylate), Acrylic Polymers (Super Absorbent Polymers, Acrylic Elastomers, Water Treatment Polymers), Ammonium Polyacrylate, Cyanopolyacrylate. Based on application, the market is segmented into surface coatings, adhesives & sealants, diapers, plastic additives, water treatment, thickeners, dispersants, others.
Market players-Acrylic Acid Market
BASF SE, Arkema SA, The Lubrizol Corporation, LG Chem Ltd., NIPPON SHOKUBAI CO., LTD, Evonik Industries AG, Dow Chemical Company, SunVic Chemical Holdings Limited, Hexion Inc., and Shanghai Huayi Acrylic Acid Co. Ltd are some of the key market players.
You may also read:
Forklift Market Valued at USD 58 Billion in 2022 Growth Insights and Forecast
Tire Pressure Monitoring System MarketProjected to Grow at 8% CAGR through 2028 Insights and Analysis
Agriculture Tire Market Investment Insights into the Growing Sector USD 7 Billion Opportunities
All Terrain Vehicle MarketGrowth Trends and Opportunities in 2022 Size and Scope
Off-Road Vehicle Market Share Analyzing Trends and Future Projections
Table of Content-Acrylic Acid Market
- Product Overview
1.1. Market Definition
1.2. Scope of the Market
1.2.1. Markets Covered
1.2.2. Years Considered for Study
1.2.3. Key Market Segmentations
- Research Methodology
2.1. Objective of the Study
2.2. Baseline Methodology
2.3. Key Industry Partners
2.4. Major Association and Secondary Sources
2.5. Forecasting Methodology
2.6. Data Triangulation & Validation
2.7. Assumptions and Limitations
- Executive Summary
3.1. Overview of the Market
3.2. Overview of Key Market Segmentations
3.3. Overview of Key Market Players
3.4. Overview of Key Regions/Countries
3.5. Overview of Market Drivers, Challenges, and Trends
- Voice of Customer
- Global Acrylic Acid Market Outlook
5.1. Market Size & Forecast
5.1.1. By Value & Volume
5.2. Market Share & Forecast
5.2.1. By Derivative Type (Acrylic Esters (Ethyl Acrylate, Methyl Acrylate, Butyl Acrylate, 2-Ethyhexyl Acrylate), Acrylic Polymers (Super Absorbent Polymers, Acrylic Elastomers, Water Treatment Polymers), Ammonium Polyacrylate, Cyanopolyacrylate)
5.2.2. By Application (Surface Coatings, Adhesives & Sealants, Diapers, Plastic Additives, Water Treatment, Thickeners, Dispersants, Others)
5.2.3. By Region (North America, Europe, Asia Pacific, South America, Middle East & Africa)
5.2.4. By Company (2022)
5.3. Market Map
5.3.1. By Derivative Type
5.3.2. By Application
5.3.3. By Region
5.4. Pricing Analysis
- North America Acrylic Acid Market Outlook
6.1. Market Size & Forecast
6.1.1. By Value & Volume
6.2. Market Share & Forecast
6.2.1. By Derivative Type
6.2.2. By Application
6.2.3. By Country
6.3. Pricing Analysis