Acrylic Acid Market Worth About USD 22.55 billion By 2025
Global Acrylic Acid Market is anticipated to reach USD 22.55 billion by 2022. Acrylic acid is an organic compound having acrid smell or tart. A huge portion of this composite is used as a feedstock for obtaining acrylate esters. Acrylate esters have a spectrum of applications in plastic additives, paper treatment, adhesives, textiles, surface coatings, and sealants.
The
factors that propel the growth of the acrylic acid industry include growing
demand for acrylic acid in developing markets and high demand from the surface diapers,
coatings, and adult incontinence application sectors. On the other hand, there
are factors that may hamper the growth of the market including strict
environmental rules and extremely volatile prices of raw material. Acrylic Acid
Market is anticipated to grow at a significant CAGR of 5.6% in the upcoming
period as the scope, product types, and its applications are increasing across
the globe.
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Acrylic
Acid industry may be explored by product type, end users, and geography. The
market may be explored by product type as Glacial Acrylic Acid, Acrylate
Esters, and Others. The “Acrylate Esters” segment led the Acrylic Acid Market
in 2015 and is anticipated to maintain its dominance by 2022.
The
acrylic acid industry could be explored based on end users as Organic
Chemicals, Surfactants, Textiles, Adhesives & Sealants, Personal Care
Products, Water Treatment, and Others. The “Personal Care” segment led the
market in 2015 and is anticipated to maintain its dominance by 2022 owing to
rising demand for super absorbent polymers in these applications is anticipated
to propel demand.
Asia-Pacific
accounted for the major share of the Acrylic Acid Market Size in 2015 and will
continue to lead in the forecast period. The factors that could be attributed
to the growth include growing consumption for acrylic acid in surface
adhesives, diapers, and coatings, and robust demand in Asia-Pacific. China is
anticipated to grow exponentially in the forecast period. Asia-Pacific is
followed by North America.
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Some
of the key players that fuel the growth of the acrylic acid industry comprise
LG Chem LTD, BASF, SIBUR, CinVic Chemical Holdings Limited, Dow Chemical
Company, Evonik Industries Ag, and Arekma SA. The leading companies are taking
up partnerships, mergers and acquisitions, and joint ventures in order to boost
the inorganic growth of the industry.
Market
Segment:
Global
Acrylic Acid Product Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 -
2022)
• Acrylate Esters
• Glacial Acrylic Acid
• Others
Global
Acrylic Acid End-Use Industry Outlook (Volume, Kilo Tons; Revenue, USD Million,
2012 - 2022)
• Surfactants
• Organic Chemicals
• Adhesives & Sealants
• Textiles
• Water Treatment
• Personal Care Products
• Others
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