Expert view: Acrylic Acid Market to Reach $19.2 Billion by 2030: A 4.8% CAGR Growth

Allied Market Research (AMR) has recently published a report on the acrylic acid market. According to the study, the industry is anticipated to acquire a value of $19.2 billion by 2030, indicating a significant increase from $12.0 billion in 2020. This represents an impressive CAGR of 4.8% during the forecast period (2021-2030). The research study provides a qualitative and quantitative analysis of the market size and share, growth perspectives, dynamic trends, regional insights, and the competitive landscape.

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AMR's research analysts and industry experts utilize advanced business tools to provide precise data and statistics, enabling businesses to make informed investment choices and maintain a competitive edge in the market. The report also highlights the key factors driving industry expansion, including drivers, restraints, and opportunities. These valuable insights assist stakeholders in expanding their product and service offerings.

Emerging Trends in the Acrylic Acid Industry

Sustainable production methods

With the rise in environmental regulations and growing consumer preference for sustainable products, the acrylic acid industry is focusing on greener production methods. BASF and Arkema are developing bio-based acrylic acid using renewable raw materials like glycerin. For instance, BASF is exploring the use of biomass-derived feedstocks to reduce carbon footprints.

Advanced catalysts and process innovations

Enhancements in catalyst technologies and operational efficiencies are essential for cost reduction and minimizing environmental impacts. Advances in catalysts used in the manufacturing process are boosting output and decreasing waste products. For example, the development of specialized catalysts has enabled a more effective transformation of propylene into acrylic acid.

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Increased demand from superabsorbent polymers

The acrylic acid industry is being fueled by the increased need for superabsorbent polymers, which are commonly found in hygiene products such as diapers and adult incontinence products. In response to the growing demand, companies such as Evonik are expanding their production capacities for superabsorbent polymers. The growing geriatric population and rising birth rates in specific regions are influencing this demand.

Growing applications in adhesives and sealants

Acrylic acid and its derivatives are more commonly utilized in adhesives and sealants due to their exceptional bonding properties. Leading companies like Henkel and 3M are developing top-quality acrylic adhesives suitable for the automotive, construction, and consumer goods industries. These adhesives offer better durability and performance under various conditions.

Digitalization and Industry 4.0

The integration of digital technologies in manufacturing is helping to increase efficiency and reduce costs. Companies are adopting Industry 4.0 technologies, such as the IoT and AI, to monitor and enhance the acrylic acid production process in real time. For instance, Dow Chemical uses digital twin technology and predictive maintenance to improve plant performance.

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Regional Insights

The research report provides a comprehensive regional analysis of the global acrylic acid market, focusing on performance in North America, Asia-Pacific, Europe, and the LAMEA regions. It delves into the unique trends, growth factors, and challenges specific to each region. This detailed analysis provides businesses and stakeholders with the information they need to make informed decisions tailored to the unique dynamics and circumstances of each region. Understanding local market realities is essential for strategic planning and investment decisions.

Competitive Landscape

The AMR study examines the competitive landscape of the global acrylic acid market, offering a detailed overview of the product portfolios, operational strategies, competitive strengths, and growth strategies of leading industry players. Through detailed analysis, AMR highlights how these top entities utilize innovative tactics to sustain their competitive advantage. This information aids businesses and stakeholders in making informed decisions to promote evolution and growth. Some top companies profiled in this report include:

Myriant Corporation

Arkema S.A.

BASF SE

SIBUR

LG Chem Ltd.

The Lubrizol Corporation

The Dow Chemical Company

Evonik Industries AG

Formosa Plastic Group

Mitsubishi Chemical Holdings Corporation

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To sum up, the AMR report is an essential resource for the global acrylic acid market, providing up-to-date information and comprehensive analysis. It enables businesses and stakeholders to make informed investment decisions, enhance their market positions, and develop strategies to ensure long-term growth. Beyond traditional market analysis, the report promotes innovation and strength in a dynamic environment.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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