Acrylic Acid Industry Size, Share, Demand & Growth by 2032
The rise in demand for methacrylate-based polymers for the manufacturing of lighting
fixtures, glazing, automotive rear lights, and electronic displays has witnessed significant
growth, which in turn, represents prominent growth in the acrylic acid market over the
analysis period. According to a recent study by Future Market Insights, the acrylic acid
industry is expected to reach US$ 22.6 Billion by 2032, up from US$ 14.6 Billion in 2022,
expanding at a CAGR of 4.5%.
Acrylic acid-based polymers have replaced conventionally used materials in major end-use
industries, such as automotive, building and construction, electronics, and others. Acrylic
acid-based elastomers such as AEM (Ethylene Acrylic Elastomers), are used as an alternative
to synthetic rubber in various applications, such as an automotive gasket, hoses, and others.
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In addition, owing to the improved properties of AEM, such as strength, and resistance,
among others, there is an increasing demand for acrylic acid from the polymer industry
during the forecast period. Additionally, the rise in demand for methacrylate-based polymers
for the manufacturing of lighting fixtures, glazing, automotive rear lights, and electronic
displays has witnessed significant growth, which in turn, represents prominent growth in the
acrylic acid market.
Key Takeaways from the Market Study

The global acrylic acid market was valued at US$ 14.6 Billion by 2022-end

The US to account for the highest value share of US$ 7.8 Billion of global market
demand for acrylic acid in 2032

From 2015 to 2021, acrylic acid demand expanded at a CAGR of 5.2%

By Product, the acrylate esters category constitutes the bulk of the Acrylic Acid
Market with a CAGR of 4.6%.
“Increasing demand for Super Absorbent Polymers (SAP) in Sanitary Pads Application, is
one of the major factors that is anticipated to propel the industry growth over the forecast
period,” remarks an FMI analyst.
Competitive Landscape
Players in the global acrylic acid market focus on expanding their global reach through
various strategies, such as; partnerships, collaborations, and partnerships. The players are also
making a significant investment in R&D to add innovations to their products which would
help them in strengthening their position in the global market.
Some recent developments among the key players are:

In August 2021, BASF and SINOPEC decided to expand their Verbund site operated
by BASF-YPC Co. Ltd, a 50-50 joint venture of both companies in Nanjing, China. It
includes the capacity expansion of several downstream chemical plants, including a
new tert-butyl acrylate plant to support the growing Chinese market.

In October 2020, Arkema successfully started a its new 90,000-ton acrylic acid
reactor at its Clear Lake site in Texas to attract consumers from paints, superabsorbents, water treatment, and adhesives markets in North America.

In August 2018, BASF PETRONAS Chemicals announced the expansion of the
production capacities of its acrylic acid and butyl acrylate plants in
Kuantan, Malaysia.
About the Chemicals and Materials Division at Future Market Insights (FMI)
The chemicals and materials division of Future Market Insights (FMI) offers a distinct and
pinpoint analysis of the chemicals and materials industry. This exhaustive coverage extends
from commodity, bulk, specialty, and petrochemicals to advanced materials, composites, and
nanotechnology in particular, with special emphasis on ‘green alternatives, recycling and
renewable technology developments, and supply-demand-trade assessment. Our research
studies serve as referencing market guidelines for chemical manufacturers, research
institutions, channel partners, and government bodies for developing — ‘The Way Forward’.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a
member of the Greater New York Chamber of Commerce) offers profound insights into the
driving factors that are boosting demand in the market. FMI stands as the leading global
provider of market intelligence, advisory services, consulting, and events for the Packaging,
Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets.
With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local
expertise on diverse domains and industry trends across more than 110 countries.
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