The global acrylic acid market is estimated to be valued at USD 11.68 Bn in 2024, exhibiting a compound annual growth rate (CAGR) of 3.4% from 2024 to 2031. Acrylic acid is an organic compound that is widely used in the production of polymers and acrylate esters that have high commercial value. The increasing demand for water-based paints and coatings, adhesives and sealants, and personal care products has been driving the demand for acrylic acid in recent years. Additionally, the growing use of superabsorbent polymers in baby diapers and adult incontinence products is expected to boost the market growth over the forecast period
Market Dynamics:
The global acrylic acid market is being driven by rising demand from the water-based paints and coatings industry. Acrylic acid is used in the production of polymers that are employed as binders in water-based paints and coatings. These coatings offer benefits, such as zero volatile organic compound emissions, low odor, and rapid drying, which has resulted in their growing preference over solvent-based paints. However, fluctuating crude oil prices remain a key challenge for market players as acrylic acid is derived from propylene, which is obtained from petroleum refining. Opportunities lie in the expanding construction and automotive industries in developing nations. Rapid urbanization and growing investments in infrastructure development are fueling the demand for paints and coatings used in construction activities.
Key Features of the Study:
- This report provides an in-depth analysis of the global acrylic acid market, and provides market size (US$ Bn) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year
- It elucidates potential revenue growth opportunities across different segments and explains attractive investment proposition matrices for this market
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, market trends, regional outlook, and competitive strategies adopted by key players
- It profiles key players in the global acrylic acid market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
- Key companies covered as a part of this study include Arkema, BASF SE, China Petroleum & Chemical Corporation (SINOPEC), Dow, Formosa Plastic Corporation, LG Chem, Merck KGaA, Mitsubishi Chemical Corporation, NIPPON SHOKUBAI CO. LTD, Sasol, Shanghai Huayi Acrylic Acid Co. Ltd, Satellite Chemical Co. Ltd, Wanhua, Dhalop Chemicals, Emco Dyestuff Pvt , Vizag Chemical, Niksan Pharmaceutical, and Innova Corporate
- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
- The global acrylic acid market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global acrylic acid market
Detailed Segmentation-
- By Derivatives:
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- Methyl Acrylate
- Butyl Acrylate
- Ethyl Acrylate
- 2-Ethylhexyl Acrylate
- Glacial Acrylic Acid
- Super Absorbent Polymers
- Others
- By Applications:
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- Paints and Coatings
- Adhesives and Sealants
- Surfactants
- Sanitary Products
- Textiles
- Other Applications
- By Region:
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- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- Company Profiles:
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- Arkema
- BASF SE
- China Petroleum & Chemical Corporation (SINOPEC)
- Dow
- Formosa Plastic Corporation
- LG Chem
- Merck KGaA
- Mitsubishi Chemical Corporation
- NIPPON SHOKUBAI CO. LTD
- Sasol
- Shanghai Huayi Acrylic Acid Co. Ltd
- Satellite Chemical Co. Ltd
- Wanhua
- Dhalop Chemicals
- Emco Dyestuff Pvt
- Vizag Chemical
- Niksan Pharmaceutical
- Innova Corporate
