Acrylic Acid Market
Acrylic Acid Market Highlights:
Acrylic Acid Market is expected to grow with the CAGR 5.14 % of more than from 2017 to 2022, and with this it is predictable to cross USD $ 18,315 Million Dollar by 2022.
Acrylic Acid, a specialty petrochemical which is produced from propylene, a by-product of ethylene and gasoline production. Growing demand of acrylic acid in personal care industry is expected to drive the market growth. Acrylic acid possesses different properties such as low temperature and good weather ability which enables its usage in numerous applications like surface coatings, sealants & adhesive, agriculture, plastic sheets and diapers among others.
Acrylic Acid, a specialty petrochemical which has formula CH2=CHOOH and CAS (Chemical Abstracts Services) Number 79-10-7. It is produced from propylene which is a by-product of ethylene and gasoline production. Properties of acrylic acid includes colourless liquid, adaptable to low temperature, good weather ability, acidic odor easily miscible with water, alcohols, ethers, and chloroform. Owing to such properties the use is diverse in number of applications, namely surface coatings, sealants & adhesive, agriculture, plastic sheets, diapers and others.
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Acrylic Acid Market Application:
On basis of type segment, superabsorbent polymers hold the market share of 19% in 2015. Superabsorbent polymer is mainly acrylic acid based polymer which are capable of absorbing more than 10 times of their own weight. The use of superabsorbent polymers revolutionized the diaper industry. Diaper market accounted for the largest market share registering CAGR of 5.85% during the forecasted period. Thus, rising demand of diapers, adult incontinence products and feminine hygiene products in personal care industry is likely to propel the acrylic acid market. Additionally, superabsorbent polymers are widely used in agriculture sector as well specifically in irrigation. Rising government investments in agriculture activity especially in emerging economies is anticipated to drive the acrylic acid market growth. Acrylic acid when reacted with alcohols gives commodity acrylates. Thus, increasing consumption of commodity acrylates in paints and coatings industry is also expected to boost the market demand. Moreover, acrylic acid is widely used in construction industry such as in the form of protective coatings and weathering resistance.
Water based adhesives are typically composed of adhesive polymers and acrylic monomers. Monomers commonly used in water based adhesives are butyl acrylates, 2-ethyexyl acrylate, methacrylate acrylic acid and many others. Water-based adhesives are projected to hold a share of around 42% of the country’s adhesives market by the end of 2019. With upcoming infrastructural projects such as railway tracks, metro rails as well as new wind energy farms, the country is set to witness a strong growth in the adhesives industry over the next five years. Also, automotive adhesives are expected to witness growth as the demand for light weighting and composite joining adhesives from automobile manufacturers continuing to increase.
The manufacturing sector in India is still growing and adhesive industry’s growth is directly aligned with the country’s manufacturing growth. The adhesives market in India is growing on account of new product developments, which require joining of two similar or dissimilar substrates. Industrial adhesives are replacing mechanical fastener for bonding requirements, and the demand for these adhesives is expected to grow in line with the country’s manufacturing growth.
Acrylic Acid Market Key Players:
The key players in market includes BASF, The Dow Chemical Company, Arkema, Nippon shokubai co., ltd., LG chemicals., Shenyang Chemical Co Ltd's., and Mitsubishi Chemical.
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Acrylic Acid Market Scope of the Study:
The scope of the study categorizes the acrylic acid market as type, and application.
Methyl Acrylate : Ethyl Acrylate
Butyl Acrylate : 2-Ethylhexyl Acrylat
Elastomers : Superabsorbent Polymers : Water Treatment Polymers
Adhesives : Diaper
Paper coating : Paint industry
Cement modifiers : Others
Acrylic Acid Market Competitive Analysis:
Acrylic Acid Market appears to be highly fragmented and competitive owning to the presence of numerous large and small players active in regional market. Majority of the company participants in the acrylic acid market has adopted the strategy named acquisition, agreement, collaboration, expansion, investment, partnership, product launch, and regulations. As the propylene price are increasing and the supply is diminishing rapidly, companies are trying to collaborate with propylene raw material suppliers and innovating new product such as bio acrylic acid in order to avoid raw material hassles. With advanced technology and innovative products offerings, manufactures are maintaining sustainable profits across the value chain. Major companies are extending their market share through expansion and agreement with distributors to meet the global demand.
Acrylic Acid Market Intended Audience:
: Manufacturers and distributors of acrylic acid : Suppliers and traders of acrylic acid
: Government, associations and industrial bodies : Investors and Trade experts
: Consulting in chemical experts
Acrylic Acid Market Regional Analysis:
Asia Pacific is the largest and the fastest growing industry for acrylic acid. Countries like China, India, Thailand and Indonesia are expected to grow at rapid pace due to increased spending on R&D facility along with economic development. Robust industry growth and extensive demand of acrylic acid in surface coatings and diapers is driving the regional market growth. Favourable government regulations and growing agriculture expenditure in China and India is anticipated to drive the market growth. China is one of the major construction industry in Asia Pacific. Rising infrastructural development especially for tourism and easy trading activities is likely to boost the acrylic acid market. China accounted for the largest market share of 58.00% in 2014, with a market value of USD 2,635.5 Million and is projected to grow at the highest CAGR of 5.53% during the forecast period.
With upcoming infrastructural projects such as railway tracks, metro rails as well as new wind energy farms, the country is set to witness a strong growth in the adhesives industry over the next five years. The manufacturing sector in India is still growing and adhesive industry’s growth is directly aligned with the country’s manufacturing growth. North America and European regions are facing huge competition from emerging markets. Rising production of acrylic acid owing to growing personal care demand and presence of significant players is driving the Europe acrylic acid market.
Acrylic Acid Market Information- by Type (Methyl Acrylate, Ethyl Acrylate, Butyl Acrylate, 2-Ethylhexyl Acrylate, Elastomers, Superabsorbent Polymers, and Water Treatment Polymers), by Application (Adhesives, Diaper, Paper coating, Paint industry, Cement modifiers and Others) and by Region - Forecast to 2022
Acrylic Acid Market Table of Content:
1 Executive Summary
2 Scope of the Report
2.1 Market Definition
2.2 Scope of the Study
2.2.1 Research Objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure
3 Market Research Methodology
3.1 Research Process
3.2 Secondary Research
3.3 Primary Research
3.4 Forecast Model
4 Market Landscape
4.1 Five Forces Analysis
4.1.1 Threat of New Entrants
4.1.2 Bargaining power of buyers
4.1.3 Threat of substitutes
4.1.4 Segment rivalry
4.2 Value Chain/Supply Chain of Global Acrylic Acid Market
5 Industry Overview of Global Acrylic Acid Market
5.2 Growth Drivers
5.3 Impact analysis
5.4 Market Challenges
5.5 Impact analysis
Acrylic Acid Market Table of Content to be Continue……,
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