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Bio Acrylic Acid Market Exclusive Trends Analysis with Forecast to 2034
The global bio acrylic acid market is estimated to reach over USD 2.2 Bn by 2034, exhibiting a CAGR of 15.8% during the forecast period.
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Bio acrylic acid is a versatile polymer that can be crystallized into complex molecular structures. It is produced by oxidizing hydrocarbons through a lactic acid-based bioprocess, in contrast to traditional acrylic acid and acrylic, which are used to manufacture acrylic polymers. The demand for bio acrylic acid is anticipated to increase in the coming years, driven by its superior strength and resistance properties, particularly in applications requiring acrylate ethyl methacrylate (AEM). Moreover, the market for bio acrylic acid is expected to experience significant growth due to the rising demand for methacrylate-based polymers, which are used in the production of lighting fixtures, glazing, automotive rear lights, and digital screens.
The increasing focus on water treatment and the growing rate of urbanization are also projected to propel the demand for bio acrylic acid, particularly in water purification processes. Additionally, the rising need for polymeric materials in the production of baby diapers and feminine hygiene products is expected to further fuel market growth during the forecast period. Furthermore, government regulations that mandate the treatment of effluent before its discharge into water bodies will require increased polymer production, thereby indirectly benefiting the bio acrylic acid market.
List of Prominent Players in the Bio Acrylic Acid Market:
• BASF SE
• China Petroleum & Chemical Corporation (SINOPEC)
• Arkema S.A
• Mitsubishi Chemical Holdings Corporation
• The Dow Chemical Company
• The Lubrizol Corporation
• Evonik Industries AG
• PTTGC Innovation America Corporation
• Formosa Plastics Corporation
• SIBUR International GmbH
Market Dynamics:
Drivers-
The demand for bio acrylic acid is increasing across various industries, including monomers, varnishes, synthetic rubber, paints, and waste management, driving the market's growth. The engineering plastics and copolymer sectors are rapidly adopting bio acrylic acid as a critical raw material to develop new products and enhance market competitiveness. Additionally, the rising demand for polymers used in the production of lighting fixtures, glass, automotive rear lights, and digital screens is expected to further propel market expansion.
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Challenges:
Despite the positive market outlook, growth may be hindered by health concerns associated with bio acrylic acid. Furthermore, the infant diaper industry is expected to face slower growth in developed regions such as North America and Europe.
Regional Trends:
The North American bio acrylic acid market is poised to capture a significant revenue share and is projected to grow at a strong CAGR in the near future. Technological advancements in petrochemical processing are driving profit growth in the region. The U.S. is recognized as a key player in cutting-edge research and development (R&D) within the engineering and chemical industries, with substantial investments supporting the creation of innovative environmental design concepts. This will likely boost market expansion.
In addition, Europe holds a significant market share due to its developed economy and increasing adoption of bio acrylic acid. The region's growth is driven by advancements in chemical technology, refining capabilities, and competitive market dynamics. The high demand for bio acrylic acid in the production of polycarbonates, elastomers, acrylics, and other products is another contributing factor. Europe, home to leading chemical companies such as Mitsubishi Motor Corporation and Sumitomo Chemical, has become a major exporter of bio acrylic acid globally.
Recent Developments:
• In March 2021-In order to produce next-generation acrylic dispersions, the German multinational chemical corporation BASF SE began operating a new production line. The cutting-edge plant will create acrylic dispersions for the Asia Pacific coatings, construction, adhesives, and packaging markets.
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Segmentation of Bio Acrylic Acid Market-
By Derivatives
• Methyl Acrylate
• Ethyl Acrylate
• Butyl Acrylate
• Elastomers
• 2-Ethylhexy Acrylate
• Super Absorbent Polymer
By Application
• Paints & Coatings
• Surfactants
• Adhesives & Sealants
• Textiles
• Sanitary Products
• Others
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• South East Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of Middle East and Africa
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