According to a report,“Acrylic Acid Market Analysis, By Product (Acrylate Esters, Glacial Acrylic Acid), By End-Use (Surfactants and Surface Coatings, Organic Chemicals, Adhesives, Textiles, Water Treatment, Personal Care Products), Bio Acrylic Acid Downstream Potential And Segment Forecasts To 2022”, published by Grand View Research, Inc., Global acrylic acid market is expected to reach USD 22.55 billion by 2022, Increasing glacial acrylic acid (GAA) demand in superabsorbent polymers (SAP) production is expected to remain key driving factor for market growth. Growing SAP scope in niche segments including adult incontinence, water treatment chemicals and radiation cured coatings in emerging markets of Asia Pacific and Central & South America is expected to play a significant role in demand development.
Key Takeaways from the report:
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Global acrylic acid market demand was 5,750.0 kilo tons in 2014 and is expected to reach 8,750.0 kilo tons by 2022, growing at a CAGR of 5.6% from 2015 to 2022.
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Personal care products formed the largest end-use industry and accounted for 30% of total market volume in 2014. Increasing adult incontinence products demand on account of growing geriatric population base in Europe and Japan coupled with increasing population of baby boomers in the U.S. is expected to drive this segment over the forecast period. Surfactants & surface coatings is expected to witness significant gains in its market size over the forecast period.
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Asia Pacific led the global acrylic acid industry with demand share exceeding 48% in 2014. Low manufacturing cost associated with superabsorbent polymers (SAP) in China and India has ensured continuous demand for acrylic acid in the region. China alone accounted for over 50% of total regional demand in 2014.
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North America and Europe are mature markets and are characterized by strong focus towards commercializing bio-based acrylic acid. Companies such as Novozymes, Cargill, BASF and OPX Bio have successfully developed bio-based sources on pilot scale and are moving towards commercial operations.
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Global acrylic acid market share is dominated by BASF, Arkema, Dow Chemical and Nippon who accounted for over 45% in 2014. The industry is moderately consolidated in nature and moving towards developing acrylic acid from bio-based feedstock.
U.S. acrylic acid market revenue by product, 2012-2022, (USD Million)
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Acrylate esters were the largest product consumed with demand share estimated over 50% in 2014. Growing demand for derivatives such as ethyl acrylate, butyl acrylate and 2-EHA in paints, coatings and textiles is expected to drive the product’s growth. Glacial acrylic acid is expected to witness the highest growth of 5.7% from 2015 to 2022.
Grand View Research has segmented the global acrylic acid market on the basis of product, end-use and region:
Global Acrylic Acid Product Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 – 2022)
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Acrylate Esters
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Glacial Acrylic Acid
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Others
Global Acrylic Acid End-Use Industry Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 – 2022)
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Surfactants
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Organic Chemicals
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Adhesives & Sealants
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Textiles
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Water Treatment
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Personal Care Products
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Others
Acrylic Acid Regional Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 – 2022)
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North America
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U.S.
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Canada
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Mexico
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Europe
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Germany
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France
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Belgium
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Asia Pacific
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China
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India
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Japan
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Central & South America
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Brazil
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Middle East & Africa
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Saudi Arabia
Explore the acrylic acid market research database, Navigate with Grand View Compass, by Grand View Research, Inc.
About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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