The Brazilian Acrylic Acid Market to Reach 157 K Tons By 2023
The Brazilian acrylic acid market was equal to 56 thousand tons in 2013. The largest share of acrylic acid consumption in the same year was for the production of acrylic acid esters, which accounted for around 55.4% of the total in volume terms. The same chemical has been growing with the highest rate of about 29.06% per year. Until 2023, the Brazilian market is forecast to reach 157 thousand tons, thus growing at a CAGR of about 1.6% per annum in the period 2018-2023. This is a decrease, compared to the growth at a CAGR of around 25.74% per year, registered in 2013-2017.
The Brazilian production of acrylic acid is expected to stabilize at around 140 thousand tons in the medium term. Flat dynamics of the overall installed production capacities and their annual average utilization rates in the country are also expected.