[LATEST] Acrylic Acid Market Trends 2024-2031: Key Insights from BASF SE and Nippon Shokubai

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 Market is thoroughly examined in the DataM Intelligence study, offering a comprehensive analysis supported by robust statistics, historical data, and actionable insights. The report evaluates key industry players, analyzing their product portfolios, pricing strategies, financial performance, and expansion efforts. It provides a clear understanding of market dynamics, competitive positioning, and anticipated trends shaping the future of the industry.

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Growing Demand for Bio-Based Acrylic Acid

The surge in demand for bio-acrylic acid has been primarily driven by increasing regulatory pressure on industries to adopt sustainable practices. Leading chemical manufacturers such as BASF, Dow Chemicals, Cargill, and Novozymes have invested in developing bio-based alternatives that can effectively compete with traditional acrylic acid. In May 2015, supply shortages in Europe gave a temporary boost to the acrylic acid market, although overall demand remained steady at 2014 levels.

OPX Biotechnologies has developed a cost-effective bio-acrylic acid production method using dextrose and sucrose as feedstocks. The company estimates production costs at approximately US$1.10/kg with dextrose and US$0.85/kg with sucrose, offering a competitive edge over the conventional product, which was priced at US$1.20/kg in 2012.

Exceptional Performance Attributes of Acrylic Acid

Acrylic acid offers a wide range of performance characteristics such as varying degrees of durability, hardness, tackiness, and glass transition temperatures-making its derivatives valuable across multiple applications. Acrylates are highly sought-after in detergents, dispersants, flocculants, and thickeners due to their versatile nature.

These compounds enhance polymers with desirable features like clarity, color stability, aging resistance, heat tolerance, and weatherability-driving significant demand in the coatings and adhesives industries. One of the most vital properties of acrylate esters is their ability to produce polymers with a lower glass transition temperature, resulting in softer and more flexible materials instead of hard and brittle ones.

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.

Acrylic Acid Industry Development:

In January 2024, Arkema announced that it had achieved ISCC+ certification for its acrylic acid and ester production facility in Taixing, Jiangsu Province, China. This milestone is part of the company's ongoing efforts to decarbonize the acrylic supply chain and enhance its sustainability initiatives.

Research Methodology

Our research methodology combines both qualitative and quantitative approaches to provide you with a thorough market analysis. We begin by gathering data from trusted industry reports and databases (secondary research), followed by primary research through surveys and interviews with key experts. We then apply advanced statistical tools to analyze the data, uncover trends, and assess market dynamics. Additionally, we use market segmentation and Porter's Five Forces analysis to evaluate competition. This approach ensures that the insights we provide are reliable, actionable, and tailored to support your decision-making process.

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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.

This Report Covers:

✔ Go-to-market Strategy.

✔ Neutral perspective on the market performance.

✔Development trends, competitive landscape analysis, supply side analysis, demand side analysis, year-on-year growth, competitive benchmarking, vendor identification, Market Access, and other significant analysis, as well as development status.

✔Customized regional/country reports as per request and country level analysis.

✔ Potential & niche segments and regions exhibiting promising growth covered.

✔ Analysis of Market Size (historical and forecast), Total Addressable Market (TAM), Serviceable Available Market (SAM), Serviceable Obtainable Market (SOM), Market Growth, Technological Trends, Market Share, Market Dynamics, Competitive Landscape and Major Players (Innovators, Start-ups, Laggard, and Pioneer).

Regional Analysis for Acrylic Acid Market:

⇥ 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

Frequently asked questions:

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

➠ Who are the global key manufacturers of the Acrylic Acid Industry? How is their operating situation (capacity, production, sales, price, cost, gross, and revenue)?

➠ What are the Acrylic Acid market opportunities and threats faced by the vendors in the global Acrylic Acid Industry?

➠ Which application/end-user or product type may seek incremental growth prospects? What is the market share of each type and application?

➠ What focused approach and constraints are holding the Acrylic Acid market?

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

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