Glacial Acrylic Acid Market Key Players Analysis - Arkema, BASF SE, Dow Inc, Evonik Industries, Exxon Mobil Corporation , Formosa Plastics Corporation.

InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Glacial Acrylic Acid Market Size, Share & Trends Analysis Report By Application (Nappies, Adult And Feminine Hygiene, Detergents, Adhesives, Coatings And Sealants, Water Treatment And Others) - Market Outlook And Industry Analysis 2034"

The global glacial acrylic acid market is estimated to reach over 3.6 million by the year 2034, exhibiting a CAGR of 3.3% during the forecast period.

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Glacial acrylic acid (GAA), a carboxylic acid compound, serves as a key raw material in the production of polymeric and methacrylate esters and is widely utilized in various chemical processing applications. Noted for its versatility, acrylic acid can be polymerized and crosslinked into complex molecular structures, making it valuable in numerous industrial sectors. It is typically synthesized through the oxidation of propane or via a lactic acid-based bioprocess.

The implementation of stringent environmental regulations mandating the treatment of industrial effluents prior to discharge into marine ecosystems has contributed to increased production of biopolymers, thereby indirectly supporting the growth of the acrylic acid market. As acrylic acid plays a critical role in wastewater treatment and recycling processes, factors such as rapid urbanization and heightened governmental focus on water purification initiatives are expected to further drive market demand.

In addition, growing demand for glacial acrylic acid in the plastics industry is anticipated over the forecast period, owing to the enhanced properties of acrylate ethylene monomers (AEMs), including improved durability and resistance. Regulatory requirements compelling industries to treat wastewater have also spurred demand for gel electrophoresis applications, further supporting the upward trajectory of the GAA market.

Moreover, the substitution of polyvinyl alcohol (PVA) and vinyl acetate with glacial acrylic acid in various formulations is projected to unlock new market opportunities. Rising demand for water treatment solutions and the increased use of methacrylate-based polymers in the production of lighting fixtures, automotive tail lights, glass products, and electronic displays are additional factors contributing to the market's robust growth during the analysis period.

List of Prominent Players in the Glacial Acrylic Acid Market:
• Arkema
• BASF SE
• Dow Inc
• Evonik Industries
• Exxon Mobil Corporation
• Formosa Plastics Corporation
• Hexion Inc.
• LG Chem
• Mitsubishi Chemical Holdings Corporation
• Myriant Corporation
• Nippon Shokubai Co Ltd
• Novomer Inc
• PJSC Sibur Holding
• Sanmu Group
• Shandong Kaitai Petrochemical Co., Ltd.
• Shanghai Huayi Acrylic Acid Co. Ltd
• Shell Chemicals
• SHOKUBAI CO. LTD
• SIBUR
• Taixing Jurong Chemical Co Ltd
• The Lubrizol Corporation

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Market Dynamics
Drivers:
The global glacial acrylic acid (GAA) market is experiencing robust growth, driven by increased production of protective coatings, emulsifiers, adhesives, and sealants, as well as its extensive use as a chemical feedstock. A notable factor contributing to market expansion is the growing application of GAA in the personal care industry, particularly due to its microencapsulation and superabsorbent properties. Rising demand for GAA-based products in the personal care sector is expected to significantly propel market growth throughout the forecast period. Additionally, expanding production of adhesives, surface coatings, and surfactants across emerging economies is anticipated to further support market development.

Challenges:
Despite promising growth prospects, the glacial acrylic acid market faces several challenges. Key constraints include the depletion of petroleum reserves, volatility in propylene prices, and raw material availability. Limited awareness and acceptance of GAA in developing regions also pose a barrier to widespread adoption. Furthermore, GAA must be stored under specific temperature conditions to prevent dimer formation, leading to high storage and preservation costs. Regulatory restrictions, stemming from GAA's toxicological profile and increasing environmental concerns, are expected to impose additional hurdles and potentially slow market expansion in the near term.

Regional Trends:
North America is projected to hold a significant share of the global GAA market, supported by strong domestic demand in the polymer, paint, and coatings sectors. The region also benefits from the increased use of glacial acrylic acid in automotive emulsion coatings, which contributes to revenue growth. The Asia Pacific region is also emerging as a key market, with rising consumption of GAA across multiple end-use industries, including chemicals, water treatment, household cleaning, and personal hygiene. China, currently the second-largest market for personal care and hygiene products, is expected to become the largest globally, thereby creating substantial growth opportunities for GAA in hygiene-related applications during the forecast period.

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Recent Developments:
• In April 2022-Wanhua said it would invest USD 3.6 billion in constructing a chemical plant in China by 2024. Additionally, this complex will produce polyether polyols, acrylic acid, polypropylene, and propylene oxide.
• In August 2021, BASF SE and SINOPEC decided to expand the Verbund site in Nanjing, China, which is run by BASF-YPC Co. Ltd, a 50/50 joint venture between the two businesses. It also includes the capacity development of various downstream chemical units to accommodate the expanding Chinese market, including a new tert-Butyl acrylate factory.

Segmentation of Glacial Acrylic Acid Market-
By Application
• Nappies
• Adult and Feminine Hygiene
• Detergents
• Adhesives, Coatings and Sealants
• Water Treatment
• 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
• Southeast 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

Read Overview Report- https://www.insightaceanalytic.com/report/glacial-acrylic-acid-market/1519

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This release was published on openPR.