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Global Acrylic Acid Market to reach USD XX billion by the end of 2030

Global Acrylic Acid Market Size study & Forecast, 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, Others) and Regional Analysis, 2023-2030

Product Code: CMCC-75759463
Publish Date: 29-02-2024
Page: 200

Global Acrylic Acid Market is valued at approximately USD XX billion in 2022 and is anticipated to grow with a healthy growth rate of more than XX% during the forecast period 2023-2030. 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.

Additionally, the growing paints and coatings industry significantly supports the growth of the acrylic acid market. Acrylic acid is a crucial raw material in the production of acrylic-based coatings. These coatings are known for their versatility, durability, and weather resistance, making them highly desirable for various applications in the paints and coatings industry. According to Statista, in 2023, the global paints and coatings industry was valued at USD 179.98 billion and it is anticipated to reach USD 255.59 billion by 2032. As a result, the growing paints and coatings industry is anticipated to support the market growth. Moreover, ongoing advancements in production processes and the development of bio-based acrylic acid are anticipated to create lucrative opportunities for the market. However, environmental concerns health hazards, and regulatory issues stifle market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Acrylic Acid Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. 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.

Major market player included in this report are:
Mitsubishi Chemical Holdings Corporation
Arkema S.A.
The Dow Chemical Co.
The Lubrizol Corporation
Evonik Industries Ag
LG Chem Ltd.
Myriant Corporation
Formosa Plastic Group
Jurong Group

Recent Developments in the Market:
Ø In April 2022, Wanhua disclosed plans to invest USD 3.6 billion in establishing a chemical complex in China by 2024. The facility is set to produce a range of chemicals, including propylene oxide, polyether polyols, acrylic acid, polypropylene, and various others.

Global Acrylic Acid Market Report Scope:
ü Historical Data – 2020 – 2021
ü Base Year for Estimation – 2022
ü Forecast period – 2023-2030
ü Report Coverage – Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
ü Segments Covered – Derivative type, Formulation, End-user, Region
ü Regional Scope – North America; Europe; Asia Pacific; Latin America; Middle East & Africa
ü Customization Scope – Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Derivative type:
Acrylic Esters
Acrylic polymer

By Formulation:
Water-borne Coating
Solvent-borne Coating
Solventless Coating
Powder Coating
Radiation Curable Coating

By End-user:
Surface Coatings Industry
Adhesives And Sealants Industry
Plastic Additives Industry
Water Treatment Industry
Textiles Industry
Surfactants Industry

By Region:

North America


Asia Pacific
South Korea

Latin America

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
1.2.1. Acrylic Acid Market, by Region, 2020-2030 (USD Billion)
1.2.2. Acrylic Acid Market, by Derivative type, 2020-2030 (USD Billion)
1.2.3. Acrylic Acid Market, by Formulation, 2020-2030 (USD Billion)
1.2.4. Acrylic Acid Market, by End-user, 2020-2030 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Acrylic Acid Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Industry Evolution
2.2.2. Scope of the Study
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Acrylic Acid Market Dynamics
3.1. Acrylic Acid Market Impact Analysis (2020-2030)
3.1.1. Market Drivers Increasing demand for superabsorbent polymers Expanding applications in coatings and adhesives
3.1.2. Market Challenges Environmental concerns and health hazards Regulatory issues
3.1.3. Market Opportunities Ongoing advancements in production processes Development of bio-based acrylic acid
Chapter 4. Global Acrylic Acid Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Porter’s 5 Force Impact Analysis
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economical
4.3.3. Social
4.3.4. Technological
4.3.5. Environmental
4.3.6. Legal
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. COVID-19 Impact Analysis
4.7. Disruptive Trends
4.8. Industry Expert Perspective
4.9. Analyst Recommendation & Conclusion
Chapter 5. Global Acrylic Acid Market, by Derivative type
5.1. Market Snapshot
5.2. Global Acrylic Acid Market by Derivative type, Performance – Potential Analysis
5.3. Global Acrylic Acid Market Estimates & Forecasts by Derivative type 2020-2030 (USD Billion)
5.4. Acrylic Acid Market, Sub Segment Analysis
5.4.1. Acrylic Esters
5.4.2. Acrylic polymer
5.4.3. Others
Chapter 6. Global Acrylic Acid Market, by Formulation
6.1. Market Snapshot
6.2. Global Acrylic Acid Market by Formulation, Performance – Potential Analysis
6.3. Global Acrylic Acid Market Estimates & Forecasts by Formulation 2020-2030 (USD Billion)
6.4. Acrylic Acid Market, Sub Segment Analysis
6.4.1. Water-borne Coating
6.4.2. Solvent-borne Coating
6.4.3. Solventless Coating
6.4.4. Powder Coating
6.4.5. Radiation Curable Coating
Chapter 7. Global Acrylic Acid Market, by End-user
7.1. Market Snapshot
7.2. Global Acrylic Acid Market by End-user, Performance – Potential Analysis
7.3. Global Acrylic Acid Market Estimates & Forecasts by End-user 2020-2030 (USD Billion)
7.4. Acrylic Acid Market, Sub Segment Analysis
7.4.1. Diapers
7.4.2. Surface Coatings Industry
7.4.3. Adhesives And Sealants Industry
7.4.4. Plastic Additives Industry
7.4.5. Water Treatment Industry
7.4.6. Textiles Industry
7.4.7. Surfactants Industry
7.4.8. Others
Chapter 8. Global Acrylic Acid Market, Regional Analysis
8.1. Top Leading Countries
8.2. Top Emerging Countries
8.3. Acrylic Acid Market, Regional Market Snapshot
8.4. North America Acrylic Acid Market
8.4.1. U.S. Acrylic Acid Market Derivative type breakdown estimates & forecasts, 2020-2030 Formulation breakdown estimates & forecasts, 2020-2030 End-user breakdown estimates & forecasts, 2020-2030
8.4.2. Canada Acrylic Acid Market
8.5. Europe Acrylic Acid Market Snapshot
8.5.1. U.K. Acrylic Acid Market
8.5.2. Germany Acrylic Acid Market
8.5.3. France Acrylic Acid Market
8.5.4. Spain Acrylic Acid Market
8.5.5. Italy Acrylic Acid Market
8.5.6. Rest of Europe Acrylic Acid Market
8.6. Asia-Pacific Acrylic Acid Market Snapshot
8.6.1. China Acrylic Acid Market
8.6.2. India Acrylic Acid Market
8.6.3. Japan Acrylic Acid Market
8.6.4. Australia Acrylic Acid Market
8.6.5. South Korea Acrylic Acid Market
8.6.6. Rest of Asia Pacific Acrylic Acid Market
8.7. Latin America Acrylic Acid Market Snapshot
8.7.1. Brazil Acrylic Acid Market
8.7.2. Mexico Acrylic Acid Market
8.8. Middle East & Africa Acrylic Acid Market
8.8.1. Saudi Arabia Acrylic Acid Market
8.8.2. South Africa Acrylic Acid Market
8.8.3. Rest of Middle East & Africa Acrylic Acid Market

Chapter 9. Competitive Intelligence
9.1. Key Company SWOT Analysis
9.1.1. Company 1
9.1.2. Company 2
9.1.3. Company 3
9.2. Top Market Strategies
9.3. Company Profiles
9.3.1. Mitsubishi Chemical Holdings Corporation Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
9.3.2. Arkema S.A.
9.3.3. BASF SE
9.3.4. The Dow Chemical Co.
9.3.5. The Lubrizol Corporation
9.3.6. Evonik Industries Ag
9.3.7. LG Chem Ltd.
9.3.8. Myriant Corporation
9.3.9. Formosa Plastic Group
9.3.10. Jurong Group
Chapter 10. Research Process
10.1. Research Process
10.1.1. Data Mining
10.1.2. Analysis
10.1.3. Market Estimation
10.1.4. Validation
10.1.5. Publishing
10.2. Research Attributes
10.3. Research Assumption

At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
We are dedicated to clearly communicating the purpose and objectives of each research project in the final deliverables. Our process begins by identifying the specific problem or challenge our client wishes to address, and from there, we establish precise research questions that need to be answered. To gain a comprehensive understanding of the subject matter and identify the most relevant trends and best practices, we conduct an extensive review of existing literature, industry reports, case studies, and pertinent academic research.
Critical elements of methodology employed for all our studies include:
Data Collection:
To determine the appropriate methods of data collection based on the research objectives, we consider both primary and secondary sources. Primary data collection involves gathering information directly from various industry experts in core and related fields, original equipment manufacturers (OEMs), vendors, suppliers, technology developers, alliances, and organizations. These sources encompass all segments of the value chain within the specific industry. Through in-depth interviews, we engage with key industry participants, subject-matter experts, C-level executives of major market players, industry consultants, and other relevant experts. This allows us to obtain and validate critical qualitative and quantitative information while evaluating market prospects. AI and Big Data are instrumental in our primary research, providing us with powerful tools to collect, analyze, and derive insights from data efficiently. These technologies contribute to the advancement of research methodologies, enabling us to make data-driven decisions and uncover valuable findings.
In addition to primary sources, we extensively utilize secondary sources to enhance our research. These include directories, databases, journals focusing on related industries, company newsletters, and information portals such as Bloomberg, D&B Hoovers, and Factiva. These secondary sources enable us to identify and gather valuable information for our comprehensive, technical, market-oriented, and commercial study of the market. Additionally, we utilize AI algorithms to automate the collection of vast amounts of data from various sources such as surveys, social media platforms, online transactions, and web scraping. And employ Big Data technologies for storage and processing of large datasets, ensuring that no valuable information is missed during the data collection process.
Data Analysis:
Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
Insight Generation & Report Presentation:
After conducting the research, our experts analyze the findings in relation to the research objectives and the specific needs of the client. They generate valuable insights and recommendations that directly address the client’s business challenges. These insights are carefully connected to the research findings to provide a comprehensive understanding.
Next, we create a well-structured research report that effectively communicates the research findings, insights, and recommendations to the client. To enhance clarity and comprehension, we utilize visual aids such as charts, graphs, and tables. These visual elements are employed to present the data in an engaging and easily understandable format, ensuring that the information is accessible and visually appealing to the client. Our aim is to deliver a clear and concise report that conveys the research findings effectively and provides actionable recommendations to meet the client’s specific needs.

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