Overview
Global Acrylic Acid Market size is expected to be worth around USD 20.8 billion by 2033,
from USD 13.5 billion in 2023, growing at a CAGR of 4.4% during the forecast period from
2023 to 2033.
The Acrylic Acid Market refers to the global industry involved in the production, distribution,
and consumption of acrylic acid. This chemical compound, known for its strong odor and
clear, colorless appearance, is primarily used as a raw material in the manufacture of a wide
range of products.
These products include superabsorbent polymers (SAPs) used in diapers and hygiene
products, water treatment chemicals, adhesives, coatings, sealants, and various plastic and
rubber materials. The demand for acrylic acid is driven by its versatility and wide-ranging
applications across multiple industries, making it a critical component in numerous
manufacturing processes.
From a market research perspective, the Acrylic Acid Market is influenced by several
factors, including raw material prices, technological advancements, and environmental
regulations. The market is expected to grow due to increasing demand for superabsorbent
polymers in the hygiene products sector and rising consumption in emerging economies.
Additionally, the shift towards sustainable and bio-based acrylic acid production methods is
gaining momentum, driven by consumer preference for eco-friendly products and stricter
environmental policies. Market players are focusing on innovation, strategic partnerships,
and expanding their production capacities to meet the growing demand and maintain a
competitive edge.
Маrkеt Ѕеgmеntѕ
By Derivative
● Acrylic Esters
● Butyl Acrylate
● Ethyl Acrylate
● Methyl Acrylate
● 2-Ethylhexyl Acrylate
● Others
Acrylic Polymer
● Superabsorbent Polymers
● Water Treatment Polymers
● Others
By Application
● Paint and Coatings
● Adhesives & Sealants
● Detergents
● Textiles
● Diapers and Feminine Hygiene Products
● Water Treatment
● Personal Care Products
● Others
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In 2023, Acrylic Ester dominated the acrylic acid market, holding over 64.5% of the market
share, due to its versatile use in various industries.
Superabsorbent Polymers led the acrylic polymers segment within the acrylic acid market,
with significant applications in hygiene products, agriculture, and packaging, thanks to their
exceptional water-absorbing capabilities.
The Paint and Coatings sector was the top application segment in the acrylic acid market,
capturing over 28.4% of the market share in 2023, owing to the durability and aesthetic
properties provided by acrylic acid.
Key Рlауеrѕ
● BASF SE
● Arkema
● Nippon Shokubai Co., Ltd.
● LG Chem
● The Dow Chemical Company
● Shanghai Huayi Acrylic Acid Co. Ltd.
● Merck KGaA
● Mitsubishi Chemical Corporation
● Sasol Limited
● Formosa Plastics Corporation
● Cargill, Incorporated
● SNP Inc.
● The Lubrizol Corporation
● Ashland
● Kemira Oyi
Drivers: The Acrylic Acid Market is driven by growing demand in construction and
infrastructure, as acrylic acid is essential in paints, coatings, and adhesives. Rapid
urbanization and construction activities worldwide necessitate durable, weather-resistant
coatings and high-performance adhesives, propelling market growth. Additionally, the shift
towards eco-friendly products due to rising environmental concerns is a significant driver.
Acrylic acid’s versatility allows the development of sustainable, low-VOC products, meeting
regulatory standards and consumer demand for environmentally conscious materials.
Restraints: The market faces challenges due to fluctuating raw material prices, particularly
the reliance on propylene. Price variations in propylene impact acrylic acid production costs
and pose profitability challenges for manufacturers. Moreover, stringent regulatory
standards regarding VOC emissions and waste disposal impose significant restraints.
Compliance requires substantial investments in research and development to create
compliant products, adding to the manufacturers' burden.
Opportunities: Expanding applications in personal care present significant growth
opportunities for the acrylic acid market. Its use in skincare and hair care products is
increasing, offering potential for innovative, high-performance formulations. Additionally,
technological advancements and market expansion provide opportunities for growth.
Developing novel acrylic acid derivatives and exploring new application areas can drive
market diversification and expansion.
Trends: The market trends include the rising popularity of superabsorbent polymers derived
from acrylic acid. These polymers are in high demand for diapers, feminine hygiene
products, and agriculture due to their exceptional water-absorbing properties. Innovations in
biodegradable polymers also present a promising trend, with ongoing research focused on
creating biodegradable acrylic polymers to address plastic waste concerns, aligning with
sustainability goals