Acrylic Acid Market Overview and Future Growth Forecast 2024 - 2031 | Arkema, BASF SE, China Petroleum & Chemical Corporation (SINOPEC)

Market Overview:

The global acrylic acid market is estimated to be valued at USD 11.68 Bn in 2024 and is expected to reach USD 14.77 Bn by 2031, growing at a compound annual growth rate (CAGR) of 3.4% from 2024 to 2031.

Market Dynamics:

The acrylic acid market is expected to witness significant growth over the forecast period owing to rising demand for superabsorbent polymers from diaper industry. Superabsorbent polymers find prominent use in baby diapers and adult incontinence products. According to United Nations Population Division, the global population aged over 60 is expected to reach nearly 2.1 billion by 2050 from 962 million in 2017. This is expected to drive the demand for adult diaper and incontinence products, subsequently boosting the consumption of superabsorbent polymers and acrylic acid. Furthermore, rising per capita disposable income along with increasing awareness towards hygiene is fueling the adoption of diapers and feminine hygiene products, which is supporting the market growth.

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Increasing Demand From Superabsorbent Polymers and Surfactants Industry Acts as a Major Driver for Acrylic Acid Market Growth

One of the major drivers contributing to the growth of the acrylic acid market is the increasing demand from the superabsorbent polymers and surfactants industry. Acrylic acid is a key raw material that is used in the manufacturing of superabsorbent polymers which find widespread application in baby diapers and adult incontinence products. The growing popularity of disposable diapers across both developed and developing economies due to increasing awareness regarding hygiene and changing lifestyle preferences is driving the demand for superabsorbent polymers. Moreover, the rising population of elderly people globally is also boosting the sales of adult incontinence products which in turn is propelling the consumption of acrylic acid.

Growing Demand for Water-Based Acrylic Polymers Offers Lucrative Opportunities

One of the key opportunities available in the acrylic acid market is presented by the growing application of water-based acrylic polymers across various end-use industries. Water-based acrylic polymers are gaining traction as an environment-friendly substitute for solvent-based acrylic polymers used in paints, adhesives, sealants and construction chemicals. They offer various advantages like low VOC emissions, fast curing properties, and compatibility with both wood and metal substrates.

Rising environmental awareness and stringent regulations regarding VOC emissions are prompting manufacturers across industries like paints & coatings, construction, packaging, etc. to shift towards more sustainable water-based polymer formulations. This growing shift is fueling the demand for acrylic acid, which acts as the key raw material in production of water-based acrylic polymers. Moreover, water solubility of acrylic acid makes it highly suitable for synthesis of waterborne polymer dispersions. The market players can gain sizeable revenue opportunities by developing novel types of water-based acrylic polymer technologies and catering to the increasing needs of end-use sectors.

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Top Companies Featured in This Report:

• Arkema
• BASF SE
• China Petroleum & Chemical Corporation (SINOPEC)
• Dow
• Formosa Plastic Corporation
• LG Chem
• Merck KGaA
• Mitsubishi Chemical Corporation
• NIPPON SHOKUBAI CO. LTD
• Sasol
• Shanghai Huayi Acrylic Acid Co. Ltd
• Satellite Chemical Co. Ltd
• Wanhua
• Dhalop Chemicals
• Emco Dyestuff Pvt
• Vizag Chemical
• Niksan Pharmaceutical
• Innova Corporate

Market Segmentation:

By Product Type:

• By Derivatives: Methyl Acrylate, Butyl Acrylate, Ethyl Acrylate, 2-Ethylhexyl Acrylate, Glacial Acrylic Acid, Super Absorbent Polymers, and Others

By Applications:

• By Applications: Paints and Coatings, Adhesives and Sealants, Surfactants, Sanitary Products, Textiles, and Other Applications

Key Regions/Countries Classified as Follows:

» North America (U.S., Canada, Mexico)
» Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
» Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
» South America (Brazil, Argentina, Rest of SA)
» Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)

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Report Highlights:

📈 Examination of navigation keyword market share at both country and regional levels

📈 Thorough analysis of the competitive landscape and emerging trends

📈 Detailed review of product advancements, technological developments, drivers, and limitations

📈 Strategic recommendations tailored for key business segments based on market insights

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Author Bio:

Alice Mutum is a seasoned senior content editor at Coherent Market Insights, leveraging extensive expertise gained from her previous role as a content writer. With seven years in content development, Alice masterfully employs SEO best practices and cutting-edge digital marketing strategies to craft high-ranking, impactful content. As an editor, she meticulously ensures flawless grammar and punctuation, precise data accuracy, and perfect alignment with audience needs in every research report. Alice's dedication to excellence and her strategic approach to content make her an invaluable asset in the world of market insights.

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