Market Overview
Global Acrylic Acid Market size and share is currently valued at USD 14.12 billion in 2024 and is anticipated to generate an estimated revenue of USD 20.66 billion by 2034, according to the latest study by Polaris Market Research. Besides, the report notes that the market exhibits a robust 3.9% Compound Annual Growth Rate (CAGR) over the forecasted timeframe, 2025 - 2034
Acrylic acid (CH2=CHCOOH) is a colorless, corrosive organic compound with a pungent odor. Its chemical structure, featuring a vinyl group directly connected to a carboxylic acid end, allows it to readily polymerize, making it an essential building block for numerous industrial and consumer products. The increasing global population, rising disposable incomes, and heightened awareness of hygiene standards are key demographic factors fueling the market's expansion.
Key Market Growth Trends
The Acrylic Acid Market's upward trajectory is propelled by several significant trends:
Soaring Demand for Superabsorbent Polymers (SAPs): One of the most critical drivers for the acrylic acid market is the escalating demand for superabsorbent polymers (SAPs). SAPs, primarily derived from acrylic acid (specifically polyacrylic acid), possess an exceptional ability to absorb and retain large volumes of liquid, making them integral to hygiene products. The increasing adoption of baby diapers globally, coupled with the growing elderly population necessitating adult incontinence products, fuels the demand for SAPs. This segment alone accounts for a substantial portion of acrylic acid consumption, underscoring its importance to market dynamics. As consumer awareness about hygiene and sanitation grows, especially in emerging economies, the preference for high-quality, absorbent personal care products continues to rise, directly boosting the acrylic acid market. Manufacturers are consistently expanding production capacities to meet this robust demand.
Growth in Paints and Coatings Industry: The burgeoning construction and automotive sectors are significantly driving the demand for acrylic acid, particularly in the paints and coatings industry. Acrylic-based coatings offer superior durability, weather resistance, color retention, and aesthetic appeal, making them preferred choices for architectural, industrial, and automotive applications. Rapid urbanization and infrastructure development, especially in developing nations, necessitate large volumes of high-performance paints and coatings, thereby increasing the consumption of acrylic acid and its derivatives. The shift towards more environmentally friendly, water-based coatings also favors acrylic formulations.
Expanding Applications in Adhesives & Sealants: The adhesives and sealants industry represents another vital growth avenue for acrylic acid. Acrylic-based adhesives and sealants are highly valued for their strong bonding capabilities, flexibility, and resistance to environmental factors like moisture and UV light. Their extensive use in construction, automotive assembly, packaging, and various industrial applications is a major catalyst for market growth. The increasing repair and maintenance activities globally, coupled with the rising production in the automotive sector, further contribute to the demand for these acrylic-based products.
Emergence of Bio-based Acrylic Derivatives: Growing environmental concerns and a strong push for sustainability are fostering the development and adoption of bio-based acrylic derivatives. Derived from renewable resources, these alternatives offer an eco-friendlier option, reducing reliance on petrochemicals and decreasing carbon footprints. While still a nascent segment, the increasing consumer and industrial preference for sustainable products is expected to drive significant innovation and growth in this area, offering new opportunities for market players.
Increased Use in Water Treatment and Textiles: Beyond personal care and coatings, acrylic acid finds increasing application in water treatment as flocculants and coagulants, essential for purifying municipal and industrial wastewater. In the textiles industry, acrylic acid and its derivatives are used to improve fabric properties, including strength, elasticity, and dye affinity, contributing to the quality and durability of various textile products.
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Market Segmentation
The Acrylic Acid Market is segmented based on its derivatives and diverse end-use applications:
By Derivative Type:
Acrylic Esters: This segment often holds the largest market share due to its wide range of applications. Key acrylic esters include methyl acrylate, ethyl acrylate, butyl acrylate, and 2-ethylhexyl acrylate, used extensively in paints, coatings, adhesives, and textiles.
Acrylic Polymers: This category encompasses superabsorbent polymers (SAPs), acrylic elastomers, and water treatment polymers. SAPs, in particular, dominate this segment due to their high demand in hygiene products.
Glacial Acrylic Acid: Used as a direct feedstock for SAPs and other acrylic acid polymers and copolymers, as well as in detergent co-builders and water treatment.
By Application/End-Use Industry:
Personal Care Products (Diapers): This is consistently identified as the largest application segment, driven by the massive consumption of baby and adult diapers made with SAPs.
Surface Coatings (Paints & Coatings): A significant consumer of acrylic acid, vital for architectural, automotive, and industrial finishes.
Adhesives & Sealants: Crucial for construction, automotive, and packaging applications.
Textiles: Used for enhancing fabric properties and producing various textile chemicals.
Plastic Additives: Employed to improve the properties of plastics, such as impact resistance and processing.
Water Treatment: Utilized for flocculation and coagulation in water purification processes.
Paper Coating: Improves the strength, brightness, and printability of paper.
Surfactants: Used in detergents and cleaning agents.
Agriculture: Niche applications in agricultural chemicals and soil conditioners.
Regional Analysis
The global Acrylic Acid Market exhibits distinct regional dynamics:
Asia Pacific: This region dominates the global market, accounting for approximately 40.0% of the revenue share in 2023, and is projected to demonstrate the highest CAGR during the forecast period. The robust growth is attributed to rapid industrialization, burgeoning urbanization, and increasing disposable incomes in countries like China, India, and Japan. These nations represent massive consumer bases for personal care products, and their expanding manufacturing and construction sectors drive immense demand for paints, coatings, adhesives, and other acrylic-based materials. Local manufacturers in the region are actively expanding their production capacities to cater to this escalating domestic and regional demand.
North America: Holding the second-largest market share, North America is anticipated to experience steady growth. The region benefits from a well-established chemical industry, the presence of major acrylic acid manufacturers, and significant demand from mature end-use industries such as construction, automotive, and personal care. Favorable business environments and strategic investments in capacity expansion by key players contribute to the region's stable growth.
Europe: Europe represents a mature market for acrylic acid, characterized by a highly developed chemical industry and a strong focus on specialty chemicals and sustainable solutions. While overall growth might be moderate compared to Asia Pacific, the region's emphasis on advanced materials, innovative coatings, and increasing investments in the plastics industry supports demand. Countries like Germany, France, and Belgium are significant contributors to the European market.
Middle East & Africa (MEA) and South America: These regions are emerging markets for acrylic acid, driven by increasing industrialization and infrastructure development. The demand in MEA is bolstered by growing applications in surface coatings and diversified industrial activities. In South America, countries like Brazil and Mexico lead the consumption, though economic and political conditions can influence market stability and growth rates.
Key Companies in the Acrylic Acid Market
The competitive landscape of the global Acrylic Acid Market is characterized by the presence of several major players who are investing in research and development, capacity expansion, and strategic collaborations to enhance their market position. Prominent companies leading the acrylic acid production and distribution include:
BASF SE (Germany)
Arkema (France)
Nippon Shokubai Co., Ltd. (Japan)
LG Chem (South Korea)
The Dow Chemical Company (United States)
Formosa Plastics Corporation (United States)
Sinopec (China)
Sasol (South Africa)
Wanhua Chemical (China)
Evonik Industries AG (Germany)
Mitsubishi Chemical (Japan)
These companies are continuously innovating and expanding their product portfolios to meet the evolving demands of various end-use industries, ensuring the sustained growth and development of the global acrylic acid market.
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