The global Acrylic Acid market reached a value of USD 15 billion in 2022 and is projected to reach USD 23.27 billion by 2032, with a compound annual growth rate (CAGR) of 5% expected during the forecast period. The growth in market revenue is primarily attributed to several key factors, including the increasing demand for superabsorbent polymers, the expanding use of acrylic acid in surface coatings, and the rising demand for adhesives and sealants. Moreover, there is a growing need for products incorporating acrylic acid in various industries, such as packaging, automotive, and construction.
One of the principal drivers of the acrylic acid market's expansion is the surging demand for Superabsorbent Polymers (SAPs). SAPs are commonly employed in the manufacturing of feminine hygiene products, adult incontinence products, and disposable diapers. This demand stems from factors like population growth, changing lifestyles, and heightened awareness of hygiene practices. The heightened requirement for SAPs is consequently fueling the demand for acrylic acid.
Get a sample of the report: https://www.reportsanddata.com/download-free-sample/3399
Top Leading Players: Formosa Plastics Co., Jiangsu Jurong Chemical Co. Ltd., Zhejiang Chemical, Shenyang Chemical Co. Ltd., LG Chemical, Mitsubishi Chemical, Dow Chemical Co., CNPC, BASF, and Arkema among others.
Strategic Development:
- In 2021, BASF SE announced that it had successfully started up a new production line for acrylic acid at its site in Camaçari, Brazil. The new plant is expected to increase BASF's production capacity for acrylic acid in the region and meet the growing demand from customers in South America.
- In 2020, Dow Chemical Company announced that it had signed a memorandum of understanding with SK Innovation Co., Ltd. to collaborate on the development of new acrylic acid and acrylic ester production technologies. The collaboration aims to improve the energy efficiency and environmental performance of acrylic acid production processes.
- In 2020, Evonik Industries AG announced that it had acquired Porocel Group, a U.S. company that specializes in catalysts and Adsorbents. The acquisition was aimed at strengthening Evonik's position in the global Catalyst market and expanding its product portfolio.
Key Regional Markets Covered in the Report:
North America (U.S.A., Canada, Mexico)
Europe (Italy, U.K., Germany, France, Rest of Europe)
Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)
Segments covered in the report:
By Derivative Outlook:
- Acrylic Esters
- Acrylic Polymers
- Others
By Application Outlook:
- Surface Coatings
- Adhesives & Sealants
- Plastic Additives
- Others
Request a customization of the report: https://www.reportsanddata.com/request-customization-form/3399
Thank you for reading the report. Kindly contact us to know more about the customization plan that we offer as per client requirement. Our team will ensure that the report is well suited as per your requirement.
Browse More Reports:
Flare Gas Recovery System Market:https://www.reportsanddata.com/report-detail/flare-gas-recovery-system-market
Labeler Market:https://www.reportsanddata.com/report-detail/labeler-market
Ceramic Matrix Composites (CMCs) Market:https://www.reportsanddata.com/report-detail/ceramic-matrix-composites-market
Sodium Methylate Market:https://www.reportsanddata.com/report-detail/sodium-methylate-market
About Us:
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyse consumer behaviour shifts across demographics, across industries, and help clients to make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Products, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
Contact Us:
John W
(Head of Business Development)
Reports and Data | Web: www.reportsanddata.com
Direct Line: +1-212-710-1370
E-mail: sales@reportsanddata.com
Blogs | Press Release | Industry News | Our competencies
Browse More Upcoming Reports @ https://www.reportsanddata.com/upcoming-reports
Browse More Latest Reports @ https://www.reportsanddata.com/report
Read Latest Press Release: https://www.reportsanddata.com/press-release/global-acrylic-acid-market
