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Polyacrylic Acid Global Market Size, Share, Emerging Trends, Key Growth, Challenges and Forecast By 2033 | BASF SE, Dow Chemical Company, Merck KGaA, Solvay S.A., Arkema S.A.
Polyacrylic Acid Global Market
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According to The Business Research Company's, The polyacrylic acid market size has grown strongly in recent years. It will grow from $3.34 billion in 2023 to $3.56 billion in 2024 at a compound annual growth rate (CAGR) of 6.5%. The growth in the historic period can be attributed to increasing demand in personal care products, expansion of polyacrylic acid applications, rising disposable incomes, growth in adhesives and sealants, and regulatory support.
The polyacrylic acid market size is expected to see strong growth in the next few years. It will grow to $4.6 billion in 2028 at a compound annual growth rate (CAGR) of 6.6%. The growth in the forecast period can be attributed to increasing consumer awareness, expansion of the cosmetic industry, urbanization, growing infrastructure projects, and growing beauty and personal care industries. Major trends in the forecast period include the development of superabsorbent polymers, technological innovations, improved polyacrylic acid formulations, the development of new types of polyacrylic acids, and enhanced formulations.
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Market Drivers and Trends:
The growing demand for personal care products is expected to propel the growth of the polyacrylic acid market going forward. Personal care products refer to a broad category of personal hygiene, grooming, and beauty items, including skincare, haircare, oral care, and cosmetics. The growing demand for personal care products is driven by increasing consumer awareness of hygiene, self-care, grooming, and evolving beauty trends. Polyacrylic acid is used in personal care products for its thickening, emulsifying, and moisture-retention properties, enhancing the texture and stability of formulations such as lotions, gels, and creams. For instance, in 2023, according to the Cosmetic Toiletry & Perfumery Association (CTPA), a UK-based trade association representing the cosmetic and personal care industry, in 2022, the color cosmetics sector sold 118,178 units, which increased to 123,056 units in 2023, reflecting a growth of approximately 4.1%. Similarly, the skincare sector experienced a rise from 456,401 units sold in 2022 to 460,868 units in 2023, marking an increase of around 1.0%. Therefore, the growing demand for personal care products will drive the growth of the polyacrylic acid market.
Major companies operating in the polyacrylic acid market are focusing on high-performance additives, such as modified polymers, to enhance product performance and improve formulation stability. Modified polymers are polymers that have been chemically or physically altered to enhance their properties, such as strength, flexibility, or thermal stability, for enhanced performance in specific applications. For instance, in August 2023, Lubrizol Life Science Beauty, a division of The Lubrizol Corporation, a US-based personal care and beauty solutions provider, launched Carbopol SC-800 polymer, which is related to polyacrylic acid. It is specifically a hydrophobically modified cross-linked polyacrylic acid polymer. It has a highly efficient thickening and stabilizing solution for mild, sulfate-free cleansers such as shower gels, shampoos, and facial cleansers. It offers superior clarity, thickening efficiency, and suspension properties compared to other polymers. It provides formulators with the flexibility to enhance skin cleansing formulations. Additionally, foam generation studies confirm that the polymer maintains foam volume and quality, ensuring the desired lather in rinse-off beauty products without compromising performance.
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Major Key Players of the Market:
PetroChina Company Limited, BASF SE, Dow Chemical Company, Saudi Basic Industries Corporation, Merck KGaA, Solvay S.A., Arkema S.A., Huntsman Corporation, The Lubrizol Corporation, SNF Group, Kemira Oyj, Nippon Shokubai Co. Ltd., Ashland Global Holdings Inc., Toagosei Co. Ltd., Protex International, Polysciences Inc., Gelest Inc., Anhui Newman Fine Chemicals Co. Ltd., Maxwell Additives Pvt. Ltd., AVA Chemicals Private Limited, Polymer Source Inc., Shandong ThFine Chemical Co. Ltd., Glentham Life Sciences Limited, Acuro Organics Limited
Polyacrylic Acid Market 2024 Key Insights:
• The polyacrylic acid market size is expected to see strong growth in the next few years. It will grow to $4.6 billion in 2028 at a compound annual growth rate (CAGR) of 6.6%.
• Rising Demand For Personal Care Products And Its Impact On The Polyacrylic Acid Market
• High-Performance Modified Polymers Transforming Personal Care Formulations
• Asia-Pacific was the largest region in the polyacrylic acid market in 2023
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