Acrylic Acid Market is Expected to Grow at a CAGR of 4.18% during the forecast period by 2030

According to ChemAnalyst report, “Global?Acrylic Acid Market?Analysis: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End-User Industries, Sales Channel, Regional Demand, Foreign Trade, Company Share, 2015-2030”,?The Acrylic Acid market is anticipated to experience a significant rise and reach approximately 8500 thousand tonnes in 2030, at an expected CAGR of 4.18% during the forecast period by 2030. The rising demand for Acrylic Acid by Acrylate Ester, Super Absorbent Polymer, Water Treatment, Detergent, Paper, and other end-use industries, is anticipated to grow the demand for the Acrylic Acid market in the forecast period. Although, the impressive absorption properties of Super Absorbent Polymer is driving its application in hygiene sector, propelling the growth of the Acrylic Acid market in the coming years.?

Acrylic acid is primarily synthesized via the catalytic oxidation of propylene. When propylene undergoes two-stage selective oxidation, it generates acrylic acid as the product, while acrolein serves as a fast-acting intermediate. Tantalum, arsenic, and molybdenum oxide work as a catalyst and the reaction is carried out in a fixed-bed reactor at temperatures between 310 and 2500 degrees Celsius. Coatings, adhesives, fabrics, paints, ink, and paper industries are a few of the applications in which acrylic acid and its derivatives are utilized. Furthermore, Acrylic acid is often used for synthesis of polyacrylates, polyacrylic acid and polymethacrylic acids.

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An increase in the overall consumption of Acrylic Acid for manufacturing acrylate esters is primarily driving the Acrylic Acid market globally. Acrylate esters have been employed in many industries, such as plastics, paints & coatings, textiles, and adhesives. Moreover, the Super Absorbent Polymer (SAP) industry also significantly contributes to the growth of the Acrylic Acid market in the forecasted period. SAP holds excellent absorbing properties and is widely used for manufacturing hygiene products like sanitary napkins to non-hygiene applications like agriculture, construction, horticulture, and civil engineering.?

The global Acrylic Acid market is segmented on end-use, sales channel, and region. Based on region, Asia Pacific is the largest consumer of the global Acrylic Acid market. In 2021, this region consumed approximately 48% of the global Acrylic Acid 2021, which is a huge chunk of the market. North America and Europe stand next in the line after the Asia Pacific region as the consumers of Acrylic Acid. Moreover, Asia Pacific is dominating the Global Acrylic Acid market as a producer and manufactured greater than 50% of the global Acrylic Acid in 2021.

Based on end-uses, the Acrylic Acid market is segregated into Acrylate Ester, Super Absorbent Polymer, Water Treatment, Detergent, Paper, and others. The Acrylate Ester Industry dominates the Acrylic Acid market and held a market share of nearly 40% in 2021. Super Absorbent Polymer also holds prominent market shares and is expected to grow on a fast pace in the future owing to the rising demand of hygiene products such as diapers and women hygiene products.

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“Global Acrylic Acid Market Analysis: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End-User Industries, Sales Channel, Regional Demand, Foreign Trade, Company Share, 2015-2030”,?the significant players functional in the Acrylic Acid market are Arkema SA, BASF SE, Nippon Shokubai Co. Ltd., LG Chem limited, The Dow Chemical Company, Jiangsu Jurong Chemical Co. Ltd, Zhejiang Satellite Petro Chemical Co. Ltd., BASF-YPC Company Limited, Wanhua Chemical Group Co. Ltd., Evonik Industries AG, and Shanghai Huayi Acrylic Acid Co., Ltd.

“Acrylic Acid for the synthesis of acrylate ester and super absorbent polymer (SAP) is likely to drive the Global Acrylic Acid market in the forecast period until 2030. Wide range of applications of acrylate esters in multiple industries such as paints and coating are anticipated to contribute to the market growth. Furthermore, application of super absorbent polymer for manufacturing hygiene products like diapers and sanitary napkins is anticipated to swell the demand of Acrylic Acid on a global level in coming years. “Said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm promoting ChemAnalyst worldwide.