Acrylic Acid Market Growth, Regional Insights, and Forecast through 2024-2031 | BASF SE, Arkema SA, Nippon Shokubai Co. Ltd., Evonik Industries

Acrylic Acid Market report, published by DataM Intelligence, provides in-depth insights and analysis on key market trends, growth opportunities, and emerging challenges. Committed to delivering actionable intelligence, DataM Intelligence empowers businesses to make informed decisions and stay ahead of the competition. Through a combination of qualitative and quantitative research methods, it offers comprehensive reports that help clients navigate complex market landscapes, drive strategic growth, and seize new opportunities in an ever-evolving global market.

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The Global Acrylic Acid Market size was worth US$ 11.30 billion in 2023 and is estimated to reach US$ 14.72 billion by 2031, growing at a CAGR of 3.52% during the forecast period (2024-2031).

Acrylic acid is a colorless, corrosive liquid with a pungent odor, widely used as a key raw material in the production of polymers, resins, and superabsorbent materials. It is primarily used in the manufacture of acrylic esters, which are essential for coatings, adhesives, textiles, and sealants. Due to its ability to form strong, durable, and flexible polymers, acrylic acid is also utilized in hygiene products, water treatment, and industrial applications. Its high reactivity makes it a valuable component in various chemical processes.

List of the Key Players in the Acrylic Acid Market:

BASF SE, Arkema SA, Nippon Shokubai Co. Ltd., Evonik Industries, The DOW Chemical Company, LG Chem Ltd., Mitsubishi Chemical Holdings Corp., PJSC Sibur Holding, Sasol Ltd. and Hexion Inc.

Industry Development:

In January 2024, Arkema obtained ISCC+ certification for its acrylic acid and ester production facility in Taixing, China, supporting its efforts to decarbonize the acrylic supply chain.

In May 2023, NIPPON SHOKUBAI's Indonesian subsidiary opened a new acrylic acid plant in Cilegon, Banten, with an annual capacity of 100,000 metric tonnes.

In March 2023, BASF SE began constructing an acrylic acid complex at its Zhanjiang Verbund site in China, featuring plants for glacial acrylic acid (GAA), butyl acrylate (BA), and 2-ethylhexyl acrylate (2-EHA), with a combined yearly capacity of 500,000 metric tons.

In February 2023, NIPPON SHOKUBAI secured ISCC PLUS certification for 19 products at its Himeji and Kawasaki plants, promoting biomass-based raw materials in disposable nappies, detergents, and other applications.

In June 2023, Austrian paint company Adler started building a €10 million (US$10.86 million) service center in Herford, Germany, set to open in early 2025.

Growth Forecast Projected:

The Global Acrylic Acid Market is anticipated to rise at a considerable rate during the forecast period, between 2024 and 2031. In 2023, the market is growing at a steady rate, and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon.

Research Process:

Both primary and secondary data sources have been used in the global Acrylic Acid Market research report. During the research process, a wide range of industry-affecting factors are examined, including governmental regulations, market conditions, competitive levels, historical data, market situation, technological advancements, upcoming developments, in related businesses, as well as market volatility, prospects, potential barriers, and challenges.

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Segment Covered in the Acrylic Acid Market:

By Derivative: Acrylic Esters, Acrylic Polymers, Others

By Application: Surface Coatings, Adhesives and sealants, Plastic Additives, Sanitary Products, Textiles, Others

Regional Analysis for Acrylic Acid Market:

The regional analysis of the Acrylic Acid Market covers key regions including North America, Europe, Asia Pacific Middle East and Africa and South America. The North America with a focus on the U.S., Canada, and Mexico; Europe, highlighting major countries like the U.K., Germany, France, and Italy, along with other nations in the region; Asia-Pacific, covering India, China, Japan, South Korea, and Australia, among others; South America, with emphasis on Colombia, Brazil, and Argentina; and the Middle East & Africa, which includes Saudi Arabia, the U.A.E., South Africa, and other countries. This comprehensive regional breakdown helps identify unique market trends and growth opportunities specific to each area.

⇥ North America (U.S., Canada, Mexico)

⇥ Europe (U.K., Italy, Germany, Russia, France, Spain, The Netherlands and Rest of Europe)

⇥ Asia-Pacific (India, Japan, China, South Korea, Australia, Indonesia Rest of Asia Pacific)

⇥ South America (Colombia, Brazil, Argentina, Rest of South America)

⇥ Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

Benefits of the Report:

➡ A descriptive analysis of demand-supply gap, market size estimation, SWOT analysis, PESTEL Analysis and forecast in the global market.

➡ Top-down and bottom-up approach for regional analysis

➡ Porter's five forces model gives an in-depth analysis of buyers and suppliers, threats of new entrants & substitutes and competition amongst the key market players.

➡ By understanding the value chain analysis, the stakeholders can get a clear and detailed picture of this Market

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People Also Ask:

➠ What is the global sales, production, consumption, import, and export value of the Acrylic Acid market?

➠ Who are the leading manufacturers in the global Acrylic Acid industry? What is their operational status in terms of capacity, production, sales, pricing, costs, gross margin, and revenue?

➠ What opportunities and challenges do vendors in the global Acrylic Acid industry face?

➠ Which applications, end-users, or product types are expected to see growth? What is the market share for each type and application?

➠ What are the key factors and limitations affecting the growth of the Acrylic Acid market?

➠ What are the various sales, marketing, and distribution channels in the global industry?

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