Acrylic Acid Market Poised to Bring in $22.50 billion by 2021

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Acrylic Acid Market Poised to Bring in $22.50 billion by 2021

Acrylic acid is a clear, colorless liquid with a characteristic pungent odor. It is miscible with water, alcohols, ethers, and chloroform. Acrylic acid is also referred as prop-2-enoic acid is an organic compound with the formula CH2=CHCO2H. Acrylic acid is primarily used as raw material for the production of coatings, acrylic resins, acrylates, adhesives, elastomer, and superabsorbent polymers. Acrylates are mainly employed in the manufacturing of copolymers or homopolymer such as methyl acrylate, ethyl acrylate, butyl acrylate, 2-ethyl-hexyl acrylate, etc. Acrylic acid on reacting with its own esters produces polyacrylic acid and monomers such as acrylamides, acrylonitrile, vinyl, styrene, and butadiene. Moreover, Acrylic acid is used in the manufacture of plastics, latex applications, floor polish, emulsion polymers, paper coatings, and paint formulations.

According to the report, global demand for acrylic acid market was valued at USD 15.50 billion in 2014 and is expected to generate revenue of USD 22.50 billion by end of 2020, growing at a CAGR of 6.5% between 2015 and 2020. In terms of volume, the global acrylic acid market stood at above 5.85 million tons in 2014. Zion Market Research has published a new report titled “Acrylic Acid (Acrylate Esters, Glacial Acrylic Acid Market & Others) Market for Superabsorbent Polymers & Surface Coatings, Adhesives & Sealants, Textiles, Plastic Additives, Printing Ink and Other Applications: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2014 – 2020.”

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The global acrylic acid market has observed robust growth in the recent years owing to increasing demand from superabsorbent polymers (SUP) and adhesives industry. Increasing demand from super absorbent polymers in emerging economies such as China, India, etc. have remained the key growth driver for this industry. Moreover, high shear and tensile strength result in growing demand for acrylic acid in high-performance applications. The rise in building and construction activities in emerging economies is expected to boost the demand for the acrylic acid during the forecast period. However, stringent environmental regulations and unstable prices of raw material are expected to hamper the growth of this industry to some extent.

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Acrylate esters, glacial acrylic acid, and others are the major product segments of acrylic acid. Methyl acrylate, ethyl acrylate, butyl acrylate and 2-ethylhexyl acrylate are the major sub-segments of acrylate esters. Superabsorbent polymers (SAP) and polyacrylic acid market are the sub-segments of glacial acrylic acid. Acrylate esters are most commonly used in surface coatings followed by adhesives and sealants, textiles, plastic additives and Printing ink. Acrylate esters accounted for over 50% share of the total acrylic acid volume consumed in 2014. However, acrylate esters are expected to lose their market share to glacial acrylic acid and other derivatives during the next five years. In 2014, glacial acrylic acid was the second largest market segment in acrylic acid. It is mainly used in the manufacture of superabsorbent polymers. It is used in manufacturing baby diapers, feminine hygiene products, and adult diapers feminine hygiene. The polyacrylic acid market is also an important application segment for glacial acrylic acid and is mainly used in water treatment.

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With over 45% shares in total volume consumption, the acrylic acid market was dominated by Asia Pacific in 2014. Asia Pacific was followed by North America and Europe respectively. Asia Pacific region is projected to continue the fastest growing region above the forecast period. The rapidly growing construction industry in emerging economies such as China and India has boosted the growth of the acrylic acid market in the Asia Pacific region. North America accounted for the second largest share of the global acrylic acid volume consumption in 2014. Latin America and Middle East & Africa accounted for the small share of the global acrylic acid market in 2014.

Some of the key players in the global acrylic acid market include Akrilat, American Acryl, BASF SE, Formosa Plastics, Rohm and Haas, Dow Chemical Company, LG Chem, Mitsubishi Chemical, StoHaas Monomer, Nippon Shokubai, Arkema.