The global acrylic acid market is marked by its extensive use in various industries, notably the paints and coatings sector. Acrylic acid's reaction with alcohol yields acrylates, essential components in diverse applications, including ethanol, methanol, n-butanol, and 2-ethylhexanol. While acrylic acid has significant industrial potential, stringent government regulations governing organic compound usage may hinder its growth due to potential soil damage. The market's dynamics are shaped by demand from multiple sectors and regulatory considerations, presenting opportunities and challenges for stakeholders.
According to Data Bridge Market Research, the Global Acrylic Acid Market grew at a rate of 5.2% in the forecast period of 2022 to 2029.
“Acrylic acid in emerging countries facilitate market growth”
The rise in the need for acrylic acid in emerging countries serves as a significant driver of the global acrylic acid market. Emerging economies are experiencing rapid industrialization and urbanization, leading to increased demand for products derived from acrylic acid, such as coatings, adhesives, textiles, and personal care items. As these countries undergo infrastructural development and experience a surge in consumer preferences, the demand for acrylic acid-based goods grows, fostering market expansion and creating opportunities for manufacturers and suppliers in the global acrylic acid industry.
What restraints the growth of the global acrylic acid market?
“Commercialization of bio-based acrylic acid”
The commercialization of bio-based acrylic acid presents a restraint to the global acrylic acid market. While bio-based acrylic acid offers environmental benefits and aligns with sustainability goals, its commercialization poses challenges in terms of scalability, cost-effectiveness, and consistent quality compared to petrochemical-based acrylic acid.
Segmentation: Global Acrylic Acid Market
The acrylic acid market is segmented on the basis of derivative type and end users.
- On the basis of derivative type, the acrylic acid market is segmented into esters/acrylates, polymers, and other derivatives.
- On the basis of end users, the acrylic acid market is segmented into surface coatings industry, adhesives and sealants industry, plastic additives industry, water treatment, textiles, surfactants, diapers, automotive and transportation, industrial machinery, and others.
Regional Insights: Asia-Pacific dominates the Global Acrylic Acid Market
Asia-Pacific's acrylic acid market dominance is driven by the increased consumption of its derivatives in essential industries like surfactants, coatings, personal care products, and adhesives. The region benefits from the presence of major key players, fostering growth during the forecast period. The versatile applications and widespread demand for acrylic acid derivatives contribute to its strong market position.
North America is set for substantial acrylic acid market growth due to its rapidly developing end-use industries such as surfactants, adhesives and sealants, and personal care. The region's emphasis on exhaustive research and development activities further propels the acrylic acid market, ensuring innovative applications and driving demand in the coming years.
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The Prominent Key Players Operating in the Global Acrylic Acid Market Include:
- Dow (U.S.)
- Hexion (U.S.)
- Mitsubishi Chemical Holdings Corporation (Japan)
- Sibur (Russia)
- Sasol (South Africa)
- Cargill, Incorporated (U.S.)
- Novozymes (Denmark)
- Novomer Inc. (U.S.)
- Yield10 Bioscience, Inc. (U.S.)
- Momentive (U.S.)
- Sunvic chemicals (China)
- Wego Chemical Group (U.S.)
- Scientific Solutions LLC (U.S.)
- Hydrite Chemical (U.S.)
- Capitol Scientific, Inc.(United State)
- U.S. Chemicals (U.S.)
- Miami Chemical, Inc. (U.S.)
- Wilkens-Anderson Co. (U.S.)
- CJ chemical (South Korea)
Above are the key players covered in the report, to know about more and exhaustive list of global acrylic acid market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Acrylic Acid Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
