Acrylic Acid Market To Grow At A CAGR Of 4.7% Over The Forecast Period Of 2020-2025


Posted April 3, 2020 by johnmarshall

The industry is further expected to grow at a CAGR of 4.7% between 2020 and 2025 to reach a volume of almost 8.3 million metric tons by 2025.

 
According to a new report by EMR titled, ‘Global Acrylic Acid Market Report and Forecast 2020-2025’, the global acrylic acid market reached a volume of nearly 6.3 million metric tons in 2019. The industry is further expected to grow at a CAGR of 4.7% between 2020 and 2025 to reach a volume of almost 8.3 million metric tons by 2025.

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Competitive Landscape & Supplier Analysis

BASF SE
NIPPON SHOKUBAI CO., LTD. (TYO: 4114)
Dow Chemical Company
Arkema SA (EPA: AKE)
LG Chem, Ltd.
Formosa Plastic Corporation
Shanghai Huayi Acrylic Acid Co., Ltd
Others
In the Asia Pacific, the demand for acrylic acid has witnessed an increase due to its use in the manufacturing of acrylic esters, superabsorbent polymers, and water treatment chemicals. In August 2018, BASF PETRONAS Chemicals Sdn. Bhd., a Malaysia-based joint venture between BASF (OTCMKTS: BASFY) and Petroliam Nasional Berhad (PETRONAS), announced its expansion of its production capacity of the acrylic acid and butyl acrylate plants in Kuantan, Malaysia. This step by the company is aimed at supporting the increased demand for acrylic monomers in the Asia Pacific, further enhancing its position in the global market. Earlier, in June 2015, BASF SE inaugurated the production complex for acrylic acid, butyl acrylate, and superabsorbent polymers in Camaçari, Brazil, looking at the growth prospects for the market in the Latin America region.

Read full report summary with Table of Content – https://www.expertmarketresearch.com/reports/acrylic-acid-market

The global acrylic acid market is being driven by the growing construction, superabsorbent polymers, and automobile industries, particularly in emerging economies like China, India, and Brazil. The demand for the product is mainly driven by its use as a super absorbent polymer to produce products like disposable baby diapers, feminine hygiene products, and others. The Asia Pacific is the largest acrylic acid market, occupying the majority of the market share.

In October 2019, Arkema, a major player in the global acrylic acid market, with an investment of approximately USD 90 million, started a new 90,000-ton per year acrylic acid reactor at its Clear Lake site in Texas, becoming one of the most competitive acrylic acid sites in the US. With this investment, the company aims to attract consumers from paints, superabsorbents, water treatment, and adhesives markets in North America.

Market Analysis by Applications:

Acrylate Esters
Super Absorbent Polymer (SAP)
Others
The global acrylic acid market can be broadly categorised based on its application into acrylate esters, super absorbent polymer (SAP), and others.

Market Analysis by Regions:

North America
Europe
Asia Pacific
Latin America
Middle East & Africa
The regional markets for acrylic acid are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

The global acrylic acid market is mainly driven by its increasing demand from the superabsorbent polymers industry.
With the increase in demand for personal hygiene products, and coatings and paints applications, particularly from emerging countries like Brazil, China, and India, the industry for acrylic acid has witnessed a further growth.
The growing construction and automobile sectors are providing additional impetus to the industry for its growth.
The growing disposable incomes and rise in infrastructural activities due to rapid urbanisation are further propelling the growth of the acrylic acid market.
Key Offerings of the Report:

The EMR report provides a detailed overview of the global acrylic acid market for the periods (2015-2019) and (2020-2025), providing an insight into the applications and regional markets of the product.
The report gives the regional historical (2015-2019) and forecast (2020-2025) price trends of acrylic acid.
The global trade data analysis has also been provided within the report, covering the major exporting and importing countries.
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Issued By John Marshall
Country United States
Categories Business , Industry , Research
Tags acrylic acid market analysis , acrylic acid market growth , acrylic acid market industry , acrylic acid market price , acrylic acid market report , acrylic acid market share , acrylic acid market size , acrylic acid market trends
Last Updated April 3, 2020