Acrylic Acid Market 2022
The global acrylic acid market is projected to be valued at~US$ 19.7 Bn by the end of 2022 and is expected to be growing at a CAGR of ~5% over the forecast period.
A complete evaluation of Acrylic Acid Market is published on PMR. Major forces impacting Acrylic Acid Market and their impact on Acrylic Acid Market rise are presented in detail in the report. A complete analysis of COVID 19 impact on Acrylic Acid Market is offered along with the report. In addition, the influence of natural disaster and political tension on Acrylic Acid Market are also presented in the report. Real time and short-term impact, along with major long-term consequences of these forces on Acrylic Acid Market is also detailed in the report.
A recent market study by Persistence Market Research on the global acrylic acid market provides a comprehensive information and data through organized market research methodology. The acrylic acid market report includes global industry analysis 2014–2018 and forecast 2019–2029.
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Increasing Application of Surface Coating to Surge the Demand for Acrylic Acid
The paints and coatings industry has witnessed robust growth across the globe. There has been a significant rise in the demand for paints and coatings across various regions, especially in South Asia and East Asia due to the rapid industrial and increasing construction activities. Governments of developing countries such as China and India are also investing in improving the country’s infrastructure, which is a major factor driving the demand for paints and coatings, resulting in boosting the demand for acrylic acid from the paints and coating industry. Furthermore, the use of acrylic acid for coatings in textile propelling the demand for acrylic acid from the textile industry.
Increasing Demand for Adhesives and Sealants for Various Applications
Applications of acrylic acid and its derivatives such as methacrylate, as an adhesive is growing in automotive and other end-use industries due to its properties such as excellent stability, strength, and resistance. Thus, the adhesives and sealants segment is anticipated to be a major factor in driving the demand for acrylic acid and its derivatives such as esters and other markets over the forecast period. Stringent regulations about the manufacturing of lightweight vehicles have also increased the usage of advanced adhesive materials, which results in propelling the acrylic acid market.
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Increasing Demand for Super Absorbent Polymers
Super absorbent polymers are widely consumed in the manufacturing of baby diapers, feminine hygiene products, and adult incontinence products, pertaining to upsurge the demand for acrylic acid from the superabsorbent polymer industry as acrylic acid is used in the formulation of superabsorbent polymers.
Application in Agriculture Pushing the Market for Acrylic Acid
Acrylic Acid also used in agriculture industry. It is harmless, non-polluting and has super water absorbing and water preserving ability, while the absorbed water cannot be squeezed out in simply physical ways and it can release absorb water repeatedly. Reduction in prices, wider product portfolio along with long shelf life and long-term supply relations with the chemical companies to build a competitive edge in the market.
Long-term Partnerships with Major End-use Industries Boosting the Market Growth
Global manufacturers of acrylic acid and its derivatives are entering into long-term supply contracts with major end users, such as PMMA manufacturers, paints and coatings industries, and adhesives manufacturers. Manufacturers are also entering into direct supply contracts with end users, such as electronics manufacturers, major construction companies and automotive OEMs, which result in creating a positive impact on the acrylic acid market. Manufacturers are also entering into partnerships with local distributors, majorly in the developing countries of Asia Pacific, such as India, which are solely dependent on the import of these chemicals.
Increasing Applications of Acrylic Acid in the Medical Industry Propelling Market Growth
In the medical industry, acrylic acid is used in the manufacturing of tubing connectors and cuvettes. Acrylic acid is also used in the manufacturing of test kits, syringes, and fluid silos, etc. Thus, an increase in spending on the healthcare sector is likely to boost the demand for acrylic acid from the medical equipment manufacturing industry.
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Key Questions Answered in the Acrylic Acid Market Report
How is the Acrylic Acid market expected to grow over the projected period?
What direction is the Acrylic Acid market expected to take in terms of volume and value during the forecast period?
What is the impact of macroeconomic factors on the Acrylic Acid market in future?
What are the key market drivers in the Acrylic Acid market?
What are significant opportunities and improvement areas for Acrylic Acid manufacturers?
What are the key developments and trends taking over the Acrylic Acid market?
Which are the emerging countries that are expected to create significant growth opportunities in the Acrylic Acid market?
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