According to a recent study by Future Market Insights, the acrylic acid market is expected to reach US$ 22.6 Billion by 2032, up from US$ 14.6 Billion in 2022, expanding at a CAGR of 4.5%. Rise in demand for methacrylate-based polymers for the manufacturing of lighting fixtures, glazing, automotive rear lights, and electronic displays has witnessed significant growth, which in turn, represents prominent growth in the acrylic acid market over the analysis period.
Acrylic acid-based polymers have replaced conventionally used materials in major end-use industries, such as automotive, building and construction, electronics, and others. Acrylic acid-based elastomers such as AEM (Ethylene Acrylic Elastomers), are used as an alternative to synthetic rubber in various applications, such as an automotive gasket, hoses, and others.
In addition, owing to the improved properties of AEM, such as strength, and resistance, among others, there is an increasing demand for acrylic acid from the polymer industry during the forecast period. Additionally, the rise in demand for methacrylate-based polymers for the manufacturing of lighting fixtures, glazing, automotive rear lights, and electronic displays has witnessed significant growth, which in turn, represents prominent growth in the acrylic acid market.
Key Players
- BASF SE
- Dow Chemical
- Lucite International
- LG Chem
- Mitsubishi Chemical Corporation
- Cargill, Incorporated
- Nippon Shokubai Co., Ltd.
- SNP Inc.
- The Lubrizol Corporation
- Formosa Plastic Corporation
- Arkema S.A.
- Ashland
- Kemira Oyi
Competitive Landscape
Players in the global acrylic acid market focus on expanding their global reach through various strategies, such as; partnerships, collaborations, and partnerships. The players are also making a significant investment in R&D to add innovations to their products which would help them in strengthening their position in the global market.
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Key Segments Covered In The Acrylic Acid Market Study
Acrylic Acid Market by Product:
- Acrylate Esters
- Glacial Acrylic Acid
- Other Acrylic Acid Products
Acrylic Acid Market by End-Use Industry:
- Acrylic Acid for Surfactants
- Acrylic Acid for Organic Chemicals
- Acrylic Acid for Adhesives & Sealants
- Acrylic Acid for Textiles
- Acrylic Acid for Water Treatment
- Acrylic Acid for Personal Care Products
- Acrylic Acid for Other End-Use Industries
Acrylic Acid Market by Region:
- North America Acrylic Acid Market
- Latin America Acrylic Acid Market
- Europe Acrylic Acid Market
- Asia Pacific Acrylic Acid Market
- Middle East and Africa Acrylic Acid Market
“Increasing demand for Super Absorbent Polymers (SAP) in Sanitary Pads Application, is one of the major factors that is anticipated to propel the industry growth over the forecast period,” remarks an FMI analyst.
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