Glacial Acrylic Acid Market expected gains of over 5.5%.

Global glacial acrylic acid market size was estimated at over 2.2 million tons in 2015 and is likely to exceed 3.2 million tons by 2023 with expected gains of over 5.5%. The market was valued at over USD 4.5 billion in 2014 and is likely to worth more than USD 10 billion by 2023 growing at an estimated CAGR of 9.5 % up to 2023.

Glacial acrylic acid (GAA) is widely used for (SAP) super absorbent polymer market production where its end-uses comprises majorly in manufacturing diapers, adult incontinence products and female hygiene products. Diaper application was the largest GAA consuming segment in 2015 and accounted for more than 50% of the total volume and is likely to witness significant growth rates. Adult incontinence and female hygiene product accounted for more than 5% and 2% of the total demand in 2014.

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Asia Pacific glacial acrylic acid market size was estimated at more than 1.1 million tons and is likely to witness highest gains of over 6% up to 2023. North America accounted for more than 25% of the total acrylic acid demand and is likely to witness steady gains at over 5% up to 2023. Europe is also expected to witness steady growth rates up to 2023. Latin America is likely to witness significant gains at over 6% from 2016 to 2023.

Increase in demand for super absorbent polymers (SAP) is likely to drive glacial acrylic acid market. SAPs are widely used baby diaper applications and healthy growth rate in this segment is likely to be supported by emerging regions of Asia Pacific and Latin America.

Increasing hygiene awareness among consumers coupled with ageing population, particularly in Japan is likely to drive demand for applications such as female hygiene and adult incontinence products. Favorable government norms for SAP application in agricultural purposes are likely to positively influence demand.

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It is used in the manufacturing of homo, co and tertiary polymers used as sequestrant in numerous applications. Detergent application accounted for approximately 8% of the total volume in 2015 whereas coatings and specialty esters applications comprised of more than 7% each in the same year. It is also used as an anti-scaling agent in water treatment market accounting for approximately 3% of the total volume in 2014.

GAA is also used as co-monomer in polyacrylamide flocculants used for waste treatment, zinc diacrylate and printing & dying. It is also used for application such as soil conditioning, drilling fluids, horticulture and landscaping.

Declining fossil fuel reserves coupled volatile propylene prices and market availability is likely to push manufacturers to develop bio-based routes. The developments of bio-based routes are likely to offer manufacturers with reduction in the production cost and hedge over makrt volatility.

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Asia Pacific acrylic acid market has been the largest consuming region over the past few years with China dominating the regional demand. China is also likely to witness rise in glacial acrylic acid production capacity to meet the end-user industry demand. India, South Korea, Indonesia and Thailand are also likely to witness an increase in demand. Population expansion coupled with an increase in spending capacity is likely to favor regional demand.

The global glacial acrylic acid market share is fragmented wit top four companies catering to more than 45% of the total demand. Major companies operating in this market include BASG, Dow Chemical, Arkema, LG Chemical and Nippon Shokubai. Other prominent companies include Formosa Plastics, Sinopec, Idemitsu Petrochemical, Shanghai Huayi, Singapore Acrylics, Stohaas and Shenyang Chemical.

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