Global acrylic acid market is
expected to reach USD 22.55 billion by 2022, according to a new study by Grand
View Research, Inc. Increasing glacial acrylic acid (GAA) demand in
superabsorbent polymers (SAP) production is expected to remain key driving
factor for market growth. Growing SAP scope in niche segments including adult
incontinence, water treatment chemicals and radiation cured coatings in
emerging markets of Asia Pacific and Central & South America is expected to
play a significant role in demand development.
Acrylate esters were the largest product
consumed with demand share estimated over 50% in 2014. Growing demand for
derivatives such as ethyl acrylate, butyl acrylate and 2-EHA in paints,
coatings and textiles is expected to drive the product’s growth. Glacial
acrylic acid is expected to witness the highest growth of 5.7% from 2015 to
2022.
Access Research Report of Acrylic Acid Market@ http://www.grandviewresearch.com/industry-analysis/acrylic-acid-market
Further key findings from the study suggest:
· Global acrylic acid market demand was
5,750.0 kilo tons in 2014 and is expected to reach 8,750.0 kilo tons by 2022,
growing at a CAGR of 5.6% from 2015 to 2022.
· Personal care products formed the largest
end-use industry and accounted for 30% of total market volume in 2014.
Increasing adult incontinence products demand on account of growing geriatric
population base in Europe and Japan coupled with increasing population of baby
boomers in the U.S. is expected to drive this segment over the forecast period.
Surfactants & surface coatings is expected to witness significant gains in
its market size over the forecast period.
· Asia Pacific led the global acrylic acid
industry with demand share exceeding 48% in 2014. Low manufacturing cost
associated with superabsorbent polymers (SAP) in China and India has ensured
continuous demand for acrylic acid in the region. China alone accounted for
over 50% of total regional demand in 2014.
· North America and Europe are mature markets
and are characterized by strong focus towards commercializing bio-based acrylic
acid. Companies such as Novozymes, Cargill, BASF and OPX Bio have successfully
developed bio-based sources on pilot scale and are moving towards commercial
operations.
· Global acrylic acid market share is
dominated by BASF, Arkema, Dow Chemical and Nippon who accounted for over 45%
in 2014. The industry is moderately consolidated in nature and moving towards
developing acrylic acid from bio-based feedstock.
Grand View Research has segmented the
global acrylic acid market on the basis of product, end-use and region:
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
Acrylic Acid Regional Outlook (Volume, Kilo
Tons; Revenue, USD Million, 2012 - 2022)
·
North America
o
U.S.
o
Canada
o
Mexico
·
Europe
o
Germany
o
France
o
Belgium
·
Asia Pacific
o
China
o
India
o
Japan
·
Central & South America
o
Brazil
·
Middle East & Africa
o
Saudi Arabia
About Grand
View Research
Grand View Research,
Inc. is a U.S. based market research and consulting company, registered in the
State of California and headquartered in San Francisco. The company
provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
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