Acrylic Acid Market Overview:

Worldwide acrylic acid market volume was five thousand seven hundred forty nine kilo tons in year 2014. Rising demand for super absorbent polymers in the personal care industry is predicted to encourage the growth and expansion of acrylic acid market over the estimated period. Growing use of acrylic acid in manufacture of surface coatings, adhesives, surfactants and sealants is also projected to shape the business sector.

Large amount of acrylic acid disposed is either dissolved in atmosphere or under the soil strata. When the acrylic acid is evaporated they break down into other chemicals, hence posing less threat in terms of air pollution. In addition to this, when the acrylic acid is disposed into the strata beneath the earth, it does not bind with the soil and enter water present under the ground. Pollution of underground water related to its disposal has been a key issue and has involved study from environmental groups all across the world.

Increase in rules and a regulation on firms has resulted in the growth and expansion of bio acrylic acid. Key manufacturers like Cargill, Dow Chemicals and Novozymes have heavily invested in bio based items at reasonable prices as compared to their equivalents.

European acrylic acid market has witnessed an upward growing trend and demand for acrylic acid recently. OPX biotechnologies, a manufacturer of bio based chemicals, has successfully created low expenses route for bio acrylic acid through sucrose and dextrose as raw materials.

Today Acrylate are experiencing heavy demand in flocculants, detergents, dispersants and thickeners. 

Acrylic Acid Market by Product:

Business derivates include glacial acrylic acid and Acrylate esters combined with hydroxyalkyl Acrylate, alkyl Acrylate and dialkylaminoethyl Acrylate. Acrylate esters were the biggest derivative with worldwide use predicted at 2730 kilo tons in year 2013. Acrylate esters are further divided into Ethyl Acrylate, Methyl, Butyl and two- ethylhexyl Acrylate.

Acrylate passes on various desirable characteristics to polymers like ageing, clarity, color stability and resistance to heat. This will lead to greater demand for products in adhesives & coating business. 

Glacial acrylic acid is generally used in production of SAP with its end uses being personal care items and hygiene. It is increasingly used in manufacture of polyacrylic acid. Rising demand for SAP in personal care items and hygiene as well as use of glacial acrylic acid is predicted to encourage the derivative section expansion and growth. 

Acrylic Acid Market by End Use:

On the basis of the end use business sectors, the worldwide industry is divided into surface coatings, textiles, surfactants, organic chemicals, water treatment, sealants, adhesives and items of personal care along with resins, rubbers, cosmetics and inks.

Personal care items like adult incontinence items and diapers are using super absorbent polymers enormously. Rising demand for super absorbent polymers in these uses is predicted to elevate the demand of the acrylic acid market.

Surface coatings and surfactants are sections that are expected to record the largest growth at an predicted CAGR of 6.269 % from year 2015 to year 2023. The section growth is predicted to be driven by rising demand for coatings in aerospace sector, paper industry and automobile sector. Other end use business sectors like textiles where acrylic acid based items serve as fillers in padded jackets are also predicted to gain acrylic acid market share swiftly. 

Acrylic Acid Market by Region:

Acrylic acid market of APEC region has led the worldwide business sector with the predicted demand and total market share expected to be around forty eight percent in year 2014. India and China together contributed to about seventy percent of the geographical demand of APEC region in year 2014. Rising use of derivatives in coatings, adhesives, surfactants and personal care items is predicted to drive the geographical growth in the near forecasted time phase.

Rising aging population in countries like Canada and USA are predicted to encourage the demand for adult incontinence items resulting in rise in use of SAP. Latin American nations like Mexico is predicted to record heavy demand due to fast growth in different end use businesses like sealants, surfactants, adhesives and personal care. Extensive research and development by local firms to create bio based substitute is predicted to offer business avenues for growth and expansion of acrylic acid market. 

Competitive Landscape:

The universal acrylic acid market share is moderately focused with top firms BASF, Nippon, Arkema and Dow Chemical firm contributing for just over forty five percent to the total market share in year 2014.

The business has experienced joint ventures between key firms like Cargill and Novozymes to create bio based equivalents. The venture was created in year 2008 and is recently working on commercializing the product.