ACRYLIC ACID MARKET ANALYSIS

Acrylic Acid Market Size and Trends

The global acrylic acid market is estimated to be valued at USD 11.68 Bn in 2024 and is expected to reach USD 14.77 Bn by 2031, growing at a compound annual growth rate (CAGR) of 3.4% from 2024 to 2031.

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Acrylic acid is used as a raw material for various products like superabsorbent polymers, acrylate esters, acrylamide, and others which find applications in industries like construction, packaging, and hygiene among others which is fueling the market growth. The market is expected to witness steady growth on account of rising application of acrylic acid in the production of water absorbent polymers which are majorly used in baby diapers. Adult incontinence products and female hygiene products. With rising global population and consumption, the demand for such end-use products is growing, which will drive the acrylic acid market during the forecast period.

Rising Demand from the Super Absorbent Polymer Industry

The super absorbent polymer industry has been a major contributor to the growth of the global acrylic acid market. Super absorbent polymers, also known as sodium polyacrylate or polyacrylate, are polymers that can absorb and retain large amounts of liquids relative to their own mass. They are primarily used in personal hygiene products like baby diapers, adult incontinence products, and feminine hygiene products. Acrylic acid serves as the primary raw material for the production of super absorbent polymers. The global demand for super absorbent polymers has been increasing steadily owing to the rising aged population who require adult incontinence products and the growing baby population who use more disposable diapers. The high absorbency and moisture wicking properties of super absorbent polymers provide more comfort to consumers, making disposable diapers and other hygiene products more popular. With increasing spending power, consumers in developing countries of Asia Pacific and Latin America are opting for disposable hygiene products instead of traditional cloth diapers and rags. This has propelled the sales of super absorbent polymers, which, in turn, has boosted the demand for acrylic acid from the polymer industry. Most major acrylic acid producers are expanding their production capacities to meet this growing requirement from their biggest end-use sector.

The adhesive and sealants industry has emerged as another major driving factor for the global acrylic acid market in recent years. Acrylic acid serves as a primary monomer for the production of various types of adhesives and sealants that are used across various applications. With the growing infrastructure and construction activities, the demand for adhesives and sealants from building & construction industry has increased manifold. Acrylic adhesives offer high strength, flexibility and resistance to heat and water, making them ideal for construction applications. Similarly, increasing automotive production is propelling the demand for acrylic sealants and adhesives that are used in vehicle manufacturing. Other applications such as packaging, footwear and furniture manufacturing also consume significant amounts of acrylic adhesives. Strict environmental regulations regarding the use of solvent-based adhesives have further boosted the popularity of solvent-free and water-based acrylic adhesives. Large players in the adhesive and sealants industry are investing in R&D to develop newer acrylic formulations with enhanced properties.