With the emergence and long-term Impact of COVID-19, Global Acrylic Acid Market to reach USD XX Million by 2030
Bizwit Research & Consulting LLP’s recent analysis on the Global Acrylic Acid Market points towards a potential rise to USD XXX Million by 2030. Acrylic acid, an organic compound characterized by its sharp or pungent smell, serves as a precursor for the synthesis of acrylate esters. Acrylate esters find diverse applications, encompassing paper treatment, plastic additives, textiles, sealants, adhesives, and surface coatings. Additionally, acrylic acid plays a role in the manufacturing of sanitary medical devices, detergents, and chemicals for wastewater treatment. Industries are actively advancing and implementing methods to produce acrylic acid from petrochemicals.
However, due to stringent regulations governing the commercial utilization of acrylic acid, manufacturers are increasingly turning to bio-based methodologies for its production, utilizing renewable resources such as glycerol and sugar. In comparison to petrochemical processes, the use of renewable feedstock yields economically competitive outcomes. The key factors driving the market growth are increasing demand for superabsorbent polymers, expanding applications in coatings and adhesives, and expansion in personal care and hygiene products that are anticipated to create the lucrative demand for acrylic acid at a substantial rate.
Geographically, the global Acrylic Acid market has been segmented into North America, Europe, Asia Pacific (APAC), Latin America, and Middle East and Africa (MEA). North America dominated the market in 2022 owing to the rising awareness of superabsorbent polymers, environmental regulations the shift towards bio-based acrylic acid, and the presence of key market players. Whereas, the Asia Pacific is expected to grow with the fastest growth rate over the forecast period, owing to factors such as the increasing demand in end-use industries, rapid industrialization and urbanization, expanding construction sector, and growing awareness of hygiene products.
The global Acrylic Acid market is highly competitive owing to the presence of several key players such as Mitsubishi Chemical Holdings Corporation Arkema S.A. BASF SE The Dow Chemical Co. The Lubrizol Corporation Evonik Industries Ag LG Chem Ltd. Myriant Corporation Formosa Plastic Group Jurong Group, and others.
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Key findings of the study suggest:
- Global Acrylic Acid Market is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2023-2030.
- In the Derivative type segment, Acrylic Esters emerged out as the leading market segment in 2022.
- North America is anticipated to drive regional growth owing to the rising awareness of superabsorbent polymers, environmental regulations the shift towards bio-based acrylic acid, and the presence of key market players.
- Asia Pacific is expected to grow at higher rate followed by Europe during 2023-2030.
Bizwit Research & Consulting has considered following segments for the study:
By Derivative type:
- Acrylic Esters
- Acrylic polymer
- Others
By Formulation:
- Water-borne Coating
- Solvent-borne Coating
- Solventless Coating
- Powder Coating
- Radiation Curable Coating
By End-user:
- Diapers
- Surface Coatings Industry
- Adhesives And Sealants Industry
- Plastic Additives Industry
- Water Treatment Industry
- Textiles Industry
- Surfactants Industry
- Others
Regional Outlook
- North America
- US
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Korea
- Australia
- RoAPAC
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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Bizwit Research & Consulting LLP is a global provider of business intelligence & consulting services. The company has a strong primary base of key industry leaders along with the chain of industry analysts to analyze the market trends and its future impact in order to estimates and forecast different business segments and markets. Bizwit incorporate big data, expert analysis, and huge industry database to deliver client focused business consulting reports. Our analysts perform unbiased measurement and assessment of market opportunities to comprehend detailed market forecast. Our team of key opinion leaders evaluates the market size, growth prospects, end-use, applications, value & supply chain and top vendors in the industry to help the clients to take conversant business decisions without any vague assumptions.
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