Market Overview and Forecast:
Acrylic Acid, a specialty petrochemical which has formula CH2=CHOOH and CAS (Chemical Abstracts Services) Number 79-10-7. It is produced from propylene which is a byproduct of ethylene and gasoline production. Properties of acrylic acid includes colorless liquid, adaptable to low temperature, good weather ability, acidic odor easily miscible with water, alcohols, ethers, and chloroform. Owing to such properties the use is diverse in number of applications, namely surface coatings, sealants & adhesive, agriculture, plastic sheets, diapers and others
Global Acrylic Acid Market is expected to reach USD 18,315.3 million by 2022. The market for Acrylic Acid is growing at a CAGR of 5.14% during forecasted period of 2016-2022.
Water based adhesives are typically composed of adhesive polymers and acrylic monomers. Monomers commonly used in water based adhesives are butyl acrylates, 2-ethyexyl acrylate, methacrylate acrylic acid and many others. Water-based adhesives are projected to hold a share of around 42% of the country’s adhesives market by the end of 2019. With upcoming infrastructural projects such as railway tracks, metro rails as well as new wind energy farms, the country is set to witness a strong growth in the adhesives industry over the next five years. Also, automotive adhesives are expected to witness growth as the demand for light weighting and composite joining adhesives from automobile manufacturers continuing to increase.
The manufacturing sector in India is still growing and adhesive industry’s growth is directly aligned with the country’s manufacturing growth. The adhesives market in India is growing on account of new product developments, which require joining of two similar or dissimilar substrates. Industrial adhesives are replacing mechanical fastener for bonding requirements, and the demand for these adhesives is expected to grow in line with the country’s manufacturing growth.
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The key players of Acrylic acid market report includes, BASF, The Dow Chemical Company, Arkema, NIPPON SHOKUBAI CO., LTD., LG chemicals., Shenyang Chemical Co Ltd’s., and Mitsubishi Chemical
“Asia-Pacific is Projected to be the Largest Market during the Forecast Period”
As per MRFR analysis Asia Pacific dominated the global acrylic acid market and has accounted for the largest share of the market in 2014. Asia Pacific market is followed by Europe and North America. Moreover, Asia Pacific acrylic acid market will witness growth above average with respect to demand of the same throughout the forecast period driven by strong growth in China and India due to the growing construction and building industry.
In terms of volume, Middle East, Africa and Asia Pacific are expected to witness robust growth during the forecast period. Availability of cheap labor, favorable weather conditions and governmental support are some of the factors driving the emulsion polymers market in these regions. Latin America, Europe and North America are also expected to experience significant growth of emulsion polymer market in near future.
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Scope of the study
The scope of the study categorizes the acrylic acid market as type, and application.
- By Type:
- Methyl Acrylate
- Ethyl Acrylate
- Butyl Acrylate
- 2-Ethylhexyl Acrylat
- Superabsorbent Polymers
- Water Treatment Polymers
- By Application:
- Paper coating
- Paint industry
- Cement modifiers
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